- Bitcoin saw a rally as the Microsoft outage hit.
- Millions of systems are still offline globally.
As a seasoned crypto investor with a keen interest in technology and market trends, I have witnessed numerous disruptions and outages in both centralized and decentralized systems over the years. However, the recent Microsoft outage that caused widespread chaos in various sectors, including finance, was an eye-opening experience.
Recently, a major Microsoft outage affected various industries worldwide, leading to considerable difficulties for businesses and services that depend on Microsoft technology. In particular, the traditional finance sector was significantly impacted.
Despite the market turmoil, Bitcoin and the broader cryptocurrency landscape continued functioning smoothly for me as an investor.
Microsoft outage pauses global services
A Microsoft outage that occurred not too long ago, instigated by an update from CrowdStrike, led to significant consequences across various industries. Particularly affected were the aviation and finance sectors, resulting in numerous flight cancellations and interruptions to services.
Millions of computers worldwide were rendered powerless by this incident, revealing the hidden weaknesses of centralized technological structures.
According to recent findings, the issue with the device was caused by a faulty CrowdStrike update, which affected computers utilizing the Microsoft Windows operating system.
In spite of the mayhem, CrowdStrike has more recently reported that a considerable number of compromised computers have been recuperated and have since been reactivated.
Crypto in good light
As a crypto investor, I’ve come to appreciate the robustness and autonomy of decentralized technologies like Bitcoin and other cryptocurrencies. Despite this episode, they carried on uninterrupted, demonstrating their inherent strength and resilience.
The distinction between centralized and decentralized systems became evident in a dramatic way during the outage, revealing the potential advantages of using technologies like blockchain in such scenarios.
In crucial scenarios where centralized systems fail, the case for decentralized systems as a dependable backup solution gains strength.
How Bitcoin reacted to the outage
On July 19th, Microsoft experienced an outage, and coincidentally, Bitcoin’s price saw a significant jump as reported by AMBCrypto. That day, Bitcoin’s value climbed more than 4%, reaching approximately $66,700 – a level it hadn’t touched in weeks prior.
During periods of doubt or setbacks in conventional, centralized technology structures, investors could be drawn towards decentralized options such as Bitcoin due to their intriguing timing.
Read Bitcoin’s [BTC] Price Prediction 2024-25
As an analyst, I’ve observed that even on the day of the outage, Bitcoin’s positive trend didn’t falter. In fact, by July 21st, its price had surged even higher, reaching above $68,000 – marking a rise of more than 1% from the previous peak.
The persistent upward trend could be indicative of Bitcoin being viewed as a secure option or a superior choice in the face of technological upheavals that impact conventional financial structures and transactions.
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2024-07-22 19:03