Bitcoin, Other Sectors Showing Strength During Coronavirus Outbreak

Bitcoin, Other Sectors Showing Strength During Coronavirus Outbreak

The world economy has come to a standstill, but despite the mess during the Coronavirus pandemic, yet some startups and sectors have proven resilient. Bitcoin has been beating expectations after last Thursday’s terrible performance. At the time of writing, it’s trading for about $6,174. But Bitcoin isn’t the only investment that shows strength in this tumultuous time.

The Best Performing Sectors

As we remain locked up in our homes, some industries have flourished despite historic drops across the whole market.

Remote work was clearly on the rise, for instance, Zoom has seen a surge of new users as many take home their workplaces. Remarkably, during this whole ordeal, they were able to have no downtime.

The sectors of gaming and online entertainment also saw record numbers as of late. The gaming platform Steam hit a record with some 20 million people playing games simultaneously over the weekend. As the lock-down situation continues, we can probably expect that figure to rise.

As Americans also rely more on food delivery services, activity has also spiked on these too. A small food delivery startup, Blue Apron, has seen a 1.100 percent increase since 2018 thanks to confidence from investors. For many food establishments, delivery is now the only service that keeps them afloat, since individuals are currently unable to sit in and dine.

These are just a few of those sectors Matt Turck has mentioned. During this lock-down period, other sectors aimed at gaining a boost include social media, online education, and telehealth services.

The blockchain sector is, or at least should be, a completely digital undertaking during these trying times. However, it is still a young sector and therefore is relatively untested. This is partly why last Thursday the entire crypto-currency market suffered a drastic loss of 50 percent. It has, however, besieged the odds as of late and continues to rally strongly even amid losses on the stock market.

0 0 vote
Article Rating
Share this page
Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments
Abdulhay Mahmoud 414 Articles
Abdulhay Mahmoud is a creative writer with over 15 years of experience in journalism, translation, and investor relations. He has B.A in English and Literature from a reputable University. He recently became a contributor at Cryptolydian.com to fulfill his thirst in reporting digital coins and blockchain-related news, an interest was built over the years.