2020 is an interesting year, not like any other year.
As the Corona virus has invaded the entire world and because of it, millions of lives have been changed.
This virus has had a direct impact on all industries and markets.
Cryptocurrencies were no exception.
Whereas, with the beginning of 2020 and since the declaration of the Corona virus as a global pandemic, all financial markets and the crypto market collapsed with them, but the end of the year was not at all like it began.
Below we will deal with the most important events and stations that have passed on the crypto market in 2020, and we will divide them into four annual quarters, and the beginning:
January-March: The world before the Coronavirus and the first wave
With some accuracy, it can be said that the new Corona virus was discovered in China before the beginning of 2020, but in March 2020 most countries took serious measures with the outbreak of the new virus.
However, the first months were relatively calm.
Bitcoin was increasing in value in what appeared to be a very healthy advance.
In early January, the Chicago Mercantile Exchange (CME) launched more bitcoin options, to provide its institutional investors with more tools to receive indirect exposure to cryptocurrencies.
More positive news came for the entire industry as two of the world's largest banks, “Goldman Sachs” and “Citigroup”, executed a share swap on a blockchain network similar to Ethereum.
There were signs that something bad was brewing in its heart, and it is easy to see later.
One of the indications is that banks have started introducing negative interest rates, which highlights some of the benefits inherent in Bitcoin.
In February, China postponed development of its national digital currency as the epidemic continued to spread, although the spread at this point was somewhat limited to China.
By the end of February, things started to take a turn for the worse.
Wall Street recorded the fastest 10% correction in history as the Corona virus began to spread throughout the world.
This quickly moved to the cryptocurrency market.
In mid-March, Bitcoin had its worst week since 2013.
Panic was spreading across the market as many investors rushed to dump their holdings, causing Bitcoin to drop more than 40% in a single day.
This was not limited to Bitcoin as all other cryptocurrencies have suffered greatly.
But once the dust that accompanied the first announcement of the Coronavirus pandemic subsided, many realized that the worst had passed and that the best was yet to come.
Especially with what the major governments did after that to confront the economic crisis, which was in the interest of the digital currency market.
April - July: the period of money printing and endless growth
The crisis caused by the Coronavirus has hit markets so hard that governments around the world have had to print money and save many companies from the risk of bankruptcy.
It was the top spot of the USA print money.
This will subsequently be a major boost for organizations to realize the opportunity Bitcoin offers.
However, at this point, proponents of digital currencies have begun to highlight the fact that unlike the US dollar, Bitcoin is an uncontrollable hard currency and increase its size by minting more of it as the US government did with the dollar.
Bitcoin emerged as a store of value and investments in it could grow instead of losing value.
Lots of people have reached this conclusion, as the Fed continues to print money and pump money into an economy badly hit by the successful shutdown by the coronavirus.
It was around this time that Bitcoin was starting to recover, and by May, the effects were already being felt for what happened next.
May was marked by a four-year event, the split of the Bitcoin mining reward that occurred on May 11, 2020.
In this event, the bonus offered to the miners was split in half, which means that the amount of Bitcoin coming from the mining process will be reduced.
Looking at the course of things and the apparent difference between Bitcoin and the dollar, as the dollar is being printed more of it while the bitcoin coming from mining is shrinking, Grayscale has come strongly to buy bitcoin in more volume than it is mined.
In June, the decline was completed and the Bitcoin chart has a “V” shape, marking the start of the bullish wave.
In July, Ethereum celebrated its fifth birthday, at which time the cryptocurrency market rose to a new all-time high in 5 months as the total value of the crypto market as a whole exceeded $ 300 billion.
With the continued boom of the crypto industry, the regulators in the United States of America were on the lookout for crypto projects. The US Securities and Exchange Commission (SEC) fined the Telegram company, forcing it to pay a fine of $ 18.5 million.
It can be said that it is the beginning of the SEC’s war on crypto projects.
August-October: The decentralized finance market explodes and thrives
Many believe that the field of decentralized finance is the future of cryptocurrency.
2020 was the year of the start of the decentralized finance market.
The volume of financing in this industry has increased by more than 2,500%. In August, things quickly started to rise.
One of the most notable projects highlighting the unprecedented growth of the DeFi project was YFI or Yearn Finance.
The project, founded by "Andre Krung", the value of his digital currency "YFI" rose from $ 0 to $ 44,000, which was not expected by the most optimistic people.
Although the price of the cryptocurrency has halved, it is still technically the second most expensive cryptocurrency on the market.
After that, we saw a lot of projects flooding the decentralized funding space.
Among the
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