Technology

Can the United States Outperform China In The Crypto Race In 2021?

3 Mins read

Introduction

Covid 19 has certainly pressed the accelerator pedal. Within a very small period, the numbers of Crypto traders and investors have increased during the pandemic. This shows that people’s interest in the Crypto trade market is growing.

COVID 19 has provided the best environment for the fruitful development and mainstreaming of the new technologies. But a vital question still hangs over the financial economy of the world: what comes next?

In the case of the financial crisis of 2007, we were able to see a domino effect that affected every industry in the worst possible way. This created a panicked market for everything. Central banks were forced to deliver unprecedented monetary influence to put things back on track. Though this method helped the economy a bit, it also depreciated the fiat currency’s value on international platforms.

In the same context, experts believe that even after the pandemic is over, there will be a huge backlash wave that might damage the economy again. With that being in mind, nations have already started preparing to face the aftereffect of the pandemic.

bitcoin code app is one of the platforms that has performed quite well in the pandemic. It has offered its services to thousands of investors and has helped them to place profitable trades. If you are looking for a platform to do the same, nothing can be better than the Bitcoin cycle.

How the United States Will Overcome China In the Crypto Race?

There have been several variables this year for the mad bull run of Bitcoin. But for The United States, the most influential factors are the US presidential election and their $1.8 Billion aid to the American COVID 19 patients.

Here are the factors that might help the United States to become the leader of the Crypto race.

$1.8 Billion Covid 19 Fund

Even in the economic crisis moment, the US has issued a hefty amount of $1.8 Billion to support all the COVID 19 patients’ medication. Though it may look like one of the best steps to take, it is not. The current economy of the US is not stable enough to support such a huge amount out of the national treasure chest. The only way it can be done by predicament printing of money.

This practice might not be allowed as it depreciates the value of the fiat currency. If you are an investor, you will get what we mean to say. In recent days, the Dollar has seen inflation. You can take that as a result of over printings of money.

American Investors Shifting Their Portfolios

Investors have foreseen the results of issuing $1.8 billion and have started shifting their assets to Cryptocurrency to save their assets from inflation. If there is a large-scale shifting of American portfolios, we might be able to see a new Crypto community that might hold the power to influence future prices of Cryptocurrencies.

How Can America Capitalise Crypto Trade Market?

In the Increasing multipolar of the financial ecosystem, the decentralized digital currency might hold an upper hand. As of now, China is winning the Crypto race by a long margin. If the US wants to capitalize on the Crypto trade market, they need to come with an infrastructure that supports the regulation of Cryptocurrencies and encourages new investors to invest in the Crypto trade market.

Though America is one of the countries that take the first step with the new technologies, they fell short on the Crypto trade front. Most Americans got to know about the Cryptocurrencies when the lawmakers handed out the Digital Dollar Solution to the people to fight the COVID 19 effects on the economy.

If the Americans can capitalize on this moment, when even the government is lending a hand with the decentralized investment, they can surely catch up to the leader of the Crypto race.

The Bottom Line

The American Cryptocurrency developers are trying their best to provide the best platform for the Crypto trades. The only things the US needs is a more solid stance towards the regulation of the Cryptocurrencies and collaboration of the banking sectors. Once that happens, the US might be able to compete with the leaders of the Crypto trade market.

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