Topic: 4 years ago, WHO announced the pandemic, whole markets crashed (Read 210 times)

It feels great to have this discussion at this period of time again, 2020 pandemic felt like a calling to have the experience of how the world would feel like if the end is coming, I've never felt that way since I was born, and thank God that I am still alive today.

Many people in the crypto space were expecting something similar to COVID to knock out Bitcoin again and I knew its not going to happen, people like sleeping on the past history, they fail to understand that drastic changes will also likely occur in the future, in this crypto space you don't want to stay at a side for long, it's better to always be ready for any possibility.

2020 was a very tough year, many Bitcoin holders lose hope and sold because they thought that the Covid will wipe out the world, some even felt like the world was coming to an end because some people they knew lost their lives to the virus, there was fear and massive jobless amount of people, since there was a lockdown, knowing that we are in the same period that the virus break out in 2020 brings back a lot of bad memories.

Although these pessimistic times in the crypto cycle last for a long time, people are finding more investment confidence in the high value of Bitcoin. At that time despite the impact of the pandemic no one could stop bitcoin showed its high position. Those who invested at that time have also reaped huge profits. The Covid-19 pandemic has disrupted people's health and safety and the economy has slowed due to mandatory holidays. Those associated with low-income and or labor-intensive employment are the worst affected.

Bad memorized with the first time World Healthy Organization (WHO) announced to public about the pandemic and become the moment with market get big crashed.  I hold some coins when the first time WHO announcing with pandemic and until four years later some my coins can't recovery well back to the higher price although bitcoin success break out to the new higher price.
Last four years ago when WHO announcing the the pandemic and lock down some countries access not only bitcoin get crashed but many aspect of economic set get down, most of worker have retired from their job and most of them get difficult financial condition when the first time lockdown adopted.
Must learned more for the future if have another pandemic we need save some fiat and buy back bitcoin on the lower price, I think earn much profitable for the holder buy back bitcoin since the pandemic first time announcing by WHO.

$3k if I'm not mistaken, and then we have the halving during the pandemic and it didn't deter the market to hit all time high at $69k.

And 4 years later, assuming that we didn't hold and sold everything. But then again during the bear market in 2022, and keep on buying, lowest low of $15,500 to now $73k so that is still a huge gains, almost 400% if my calculations are correct.

So how time flies, and we haven't cross halving yet and so there are still more profits to be made just like the last time. And everyone is looking for 6 digits as our new all time high.

you can let go but not 100% and even then we are sure that we can buy it back in the same amount but at a different price,
I think you are not the only one selling crypto assets during the pandemic, I do, because there is no other choice , than going into debt, it is better to sell existing assets,

Not all people are rich, the whole markets crashed, many employees receives salary cut and some of them gets fired.

If they're in struggle and they need to use their investment to cover their monthly cost, how they can hold their Bitcoins? it's also why not many people are afford to buy Bitcoin at that time too.

So, if you didn't affected with the pandemic, you're lucky, unfortunately not everyone are lucky like you.

Bitcoin is definitely a completely separate market with its own ecosystem that does NOT depend on any other market, which is the point I was making. But at the same time Bitcoin is still part of this world and part of the global economy so it is expected to see bitcoin price be affected by the global economy, but that effect still doesn't mean "following" other markets.

When a pandemic occurs, many activities stop. be it from work, other activities that can make money. while the main needs continue, such as food, medicine and so on. it's fitting that global markets are that red.

and for those who have assets in bitcoin, of course they will also sell some of their assets to survive the long-lasting pandemic downturn. Maybe if the pandemic only lasts a few months it won't have any effect at all on bitcoin price movements. and no one will sell bitcoins for daily living needs. because many people are selling, the price of bitcoin also falls.

That's not even the interesting point. If we look back, Bitcoin was actually somehow insulated from the effects of the pandemic.

We don't have to look forward 4 years later to see Bitcoin recovering from the pandemic and making new records. After the announcement of the outbreak, the price went down, yeah, but not too low. It wasn't even continuous. There was an immediate reaction, from the shock. That's understandable as the entire global economy was affected by it. But things were already starting to look better after just a couple of days, not 4 years later.

The recovery started immediately. And within that year alone, the previous ATH was already broken. From that point onwards, new ATHs were registered until reaching its peak in November of 2021. The new ATH was more than x3 of the previous ATH. And it was recorded just around a year and a half from the announcement of the pandemic.

I was actually thinking the same too and wondered how a global economy or pandemic could have such and effect on Bitcoin as a digital currency that is decentralized.
I assume the value dropped so poor as a controversial or the markets system when the volatility could be weakened at then and this time, it regains its high volatiles which has got it to this high volume of today's beating the historical performance.
Hence the volatility of Bitcoin is based of its own economic system and not the world or global economy.

The red color looks so beautiful, haha, just kidding this must be beautiful for bears not for bulls. Covid was a bad time, with too many difficulties, I am glad that we have passed that time, so many people lost there lives just because doctors killed them. I am still of the mindset that there was no COVID-19, it was all a manipulative disease I don't know who must be behind it.

But Doctors were killing patients without any reason in my country. I don't have the proves, but I heard these words from trusted parties. Well, COVID-19 not only crashed the crypto but the whole market as well, only the pharmaceutical markets made money at that time. But one thing that did happen during COVID-19 is it made people to search for online jobs, and from then to now, many have left there corporate jobs and now are earning online.

Covid if closed thousands of doors then it also opens hundreds more, as people always improvise and comes with surviving techniques, and in the digital world, money is what we all need.

Oh wow, I almost forgot about the pandemic but then yeah I remember that everything crashed on the same period as today on that year.

It was a total crash for the majority of the markets and many have thought that Bitcoin wouldn't survive but then, I was optimistic back then because it was also the year of halving.

And a year later, we've seen that the ATH of Bitcoin and bull run came to the market. After 4 years, here we are and we're enjoying again new ATH and soon we'll see a new ATL.

Pandemic really made things worse. If you held onto your bitcoins through the madness, you're in for a sweet ride. It's been a wild journey, from market crashes to crypto comebacks. The lesson? HODL pays off. Here's to the crypto enthusiasts who weathered the storm and are now riding the Bitcoin wave to new highs

Wow, I haven't seen the image shared by op before, and I really like how it's made to give a big overview of the markets by various industries and by showcasing major players of those industries. I don't fully understand why some of the companies have the share of losses next to them and others don't, but it's still nice.
Bitcoin crashed along with everything else when the pandemic was announced, but it recovered remarkably fast. The price was around $8k-$9k before the announcement, then dropped to $5k, but went back to $8k-$9k by the beginning of May. That's reassuring because it shows that Bitcoin is largely independent of the global economy and can thrive while other assets are still struggling.

It was a great buying opportunity, a true gift if you were already a battle hardened Bitcoin investor. I remember it very well, I bought heavily because I knew it was just a reaction to the COVID announcement. We went down like 50% in one day but we recovered quite quickly & now look at the price. Bitcoin is unstoppable, any future opportunity similar to what happened back then will be another gift which I will take advantage of.

I think this is what it means to revolutionize the financial sector, especially concerning the shift towards cashless transactions and online commerce.

Aside from the basic advantage it has over breaking international barriers in terms of transactions from foreign countries or markets, it has also helped to further revolutionize the financial system.

Even amidst events like the COVID-19 pandemic, you can still experience an all-time high bitcoin value in less than 4 years.

I believe this signifies empowering people to own their financial systems, free from governmental control over day-to-day transactions and financial lives.

This aspect is something I always look forward to, and my advice, as I've always given to myself and friends, is to continue investing in cryptocurrencies like Bitcoin and other coins you believe in.

Bitcoin does truly reflects the power of independence in the lives of users but I will always advice my friends  to understand how the system operates before making any investment, ensuring a satisfying return on investment and avoiding regret.

It’s truly devastating imagine seeing the price of bitcoin today and thinking of what ifs and what could haves. Many people had no choice but to sell a lot of their assets when the pandemic hit just to stay afloat. Not only coins, but also their cars, houses and even businesses.

It’s just a lot regretful if you had sold your bitcoin back then knowing that if you just had another choice you would have been a richer man now. But now we are seeing a bit of the light so we should try to acquire bitcoin and hold them for long.

We will keays remember those tough days as it was the market collapse coupled with the pandemic where one had to fight two battles one for survival and being protected from COVID and at the same time keep earning during those difficult period and we should be considered lucky to be alive as it took mental toll on most of us.

But if we talk about current Bitcoin surge we cannot relate it to spot ETF approval as there are other factors which has contributed to this surge and also there were no spot ETF during last bull run .

Sometimes life is like that, you are forced into a corner and you cannot do anything but to take a decision that you know will have consequences on the future, so anyone that sold their coins because of that kind of event going on their lives simply did their best, but there are many people out there that panicked because of that sudden drop and sold their coins, and those people do not have too much of an excuse, since they should have known better as bitcoin is a great asset to hold.

Markets (crypto too) crash and recover, crash quickly and take a long time to recover. This is how markets breathe - up and down.

$72,000 is not the highest figure for the entire existence of bitcoin. I am sure that this is only an intermediate value and during this year we will be able to see a new value that will remain in history as “a new all time high for Bitcoin” until the next cycle.

Well, I don't think Bitcoin Spot ETFs will make us richer. This is another brick in strengthening bitcoin, but this point in itself is not so important. Yes, Bitcoin Spot ETFs pushes investors from the traditional financial world towards bitcoin and introduces an element of advertising for bitcoin. But against the background of bitcoin, Bitcoin Spot ETFs remains a dummy and something insignificant. The power is in bitcoin itself, which can just make you richer.

Same, thankfully, I don't even touch my bitcoin holdings; in fact, I do DCA while it is pandemic and the price of bitcoin at that time is lower compared to now. Imagine how much I earn, but still, I don't sell any of my bitcoin holdings because I know the actual bull run is still not in place. What is happening now is just because of the halving event and also because of the ETF approval. I managed to accumulate more bitcoin in the pandemic because I do online jobs. After months of the pandemic, I managed to land different side jobs done only and also crypto currency stuff. I also added that NFT became in demand during the pandemic, so there's no need for me to sell my bitcoin in order to survive. We can't blame those who forced to sell their bitcoin because we know how hard we gone through during pandemic.

This is what I felt frustrating now seeing the Bitcoin price claimbing 72k and going
more while those days of pandemic I almost withdraw all the bitcoin and altcoins just to
survive for those more than 2 years of having no Job at all.

But this thread also remind us that we must never let go of our bitcoin whatever
happens because seeing it growing each time now makes us understand the potential in
the next 10 years again.

I mean there were just too many things that are affecting the market price of Bitcoin and even though we all believed that Bitcoin was going to reach a certain market price in the value the truth is we dont really know what is going to happen, We could make this whole pandemic thing as an example, no one really expects for it to happen at times like that, Something could easily appear again making the market drop we just doesnt know how could come up that easily that could make the market down, its surely great to see Bitcoin recover and now reaches a new all-time high.

It is still a very risky market overall, the Bitcoin ETF surely has a huge effect, the market is buying the rumors as well as increasing its market price, Bitcoin ETF surely bought a lot of Bitcoin but still, it wouldn't going to make you a bagload of money, because the market price is just too high already, we can already see a huge slow down as when Bitcoin is just getting started in the market, We already see it skyrocket up to 1200$ which could give a huge profit to those early investors but buying the Bitcoin today around 70k$ is going to be a different story, I mean if the Bitcoin reach about 150k$ that is just going to be around x2 of your investment which is going to be a small up on the value considering altcoins in the market could profit up more than 1000%.

Still would continue to invest in Bitcoin since it is the safer investment compared to others, the best strategy is to invest in other potential tokens as well with only a small percentage to still make a possible huge profit with very little risk.

The 1400% return on investment sounds better when you devide it by the 4 years. It is 350% return on your investment per year.... which is almost 3 times more than what the S&P 500 achieved over the 4 year period.

The thing is, not a lot of people had the balls to buy those cheap coins during the price crash. (I did and I am smiling from ear to ear)

Not just Bitcoin! The entire market came back up now. I know a person who used to be my colleague in 2020, is not living a worry free life and had taken retirement in December 2023 at the age of 38. Just because he had invested all his life savings in the stock market when the market crashed. Opportunity often knocks on our door, but we fail to recognize it. That fellow did and was able to save so much money that he doesn't need to worry about finances for the rest of his life.

Same happened for Bitcoin as well. I hope some of you had invested during that time and was able to gather a huge amount of sum for a worry free life.

There is light at end of a tunnel all one need is petiant buy and practice long term holding, WHO pronouncement has a huge effect to course ATL on Bitcoin and many other factors such Russian and Ukraine war even others wars and economy shift.

But this is the time Bitcoin will regain all loss energy course by the pandemic and some of war and economic shift as many nation and citizens has override the emotional feeling of the effect the attack.

Those who practice long term holding is time to know that long term investment yield better than short, the benefit of courage and patient in any investment can't be overruled when it comes to huge profits making.

To be clear that drop had nothing to do with the pandemic nor did it have anything to do with other markets crashing. It was all about the economy crashing. To be more specific it was the recession that led to bitcoin price dropping too.

That's the same reason why this current rise was postponed this much. All the conflicts over the past 2 years and crisis that followed caused recession that prevented bitcoin from rising. Even though recession is not over and it still is creating sell pressure on the market, but the demand has risen so much that is currently countering that.

The pandemic wasn't all that bad to bitcoin too because even during the pandemic, the price was still able to continue surging in prices despite the fact that people are still locked out, the cash injections by a lot of countries to help with the pandemic actually helped because it's free money that led to more people investing into bitcoin that money although not all of them did invest so one can only imagine if everyone who received those cash injections bought bitcoin too, we would've seen much higher all time high at that time.

I hope that's the case, a good end cycle but still we have to be prepared for the worst, after all, bitcoin is still as volatile as ever so even what we hoped for or predict to happen, we're still going to be surprised with what happens next.

Yes it was a crazy time. Who remembers Bitmex back then?

For those that don’t know it was the largest perps swap exchange at the time. And there was massive massive liquidations. It got so bad that the owner basically shut down the exchange because if he didn’t it would of collapsed to $0.

Most likely other exchanges would of been fine but the arbitragers would of kept hedging and dumping on other exchanges. It was a crazy time.

For the next few days the exchange had a huge discount relative to spot. I think something like $500 or so. That sure was a crazy day.

They announced it in 2020 and the market crashed at that time. In the next year Bitcoin outpaced the American stock markets in terms of price and created a new high. A lot of credit were given to institutional investors at that time. Which was correct as there was a sudden spike in Bitcoin price at that time. Today we are experiencing the same thing happening again and a lot of credit goes to the spot ETFs. After the halving events we can expect more as after halving less Bitcoin will be mined and the demand will increase.

The price dropped to approximately $5K at that time. Seeing that it's at $72K it's about a 1400% return in 4 years, not bad. For comparison, we can note that the S&P 500 had a return of 125% in the same period, which is not bad but far from the Bitcoin return.

This end of cycle can make us optimistic after the disappointing mid-cycle returns.

4 years ago, on March 11 2020, WHO (World Health Organization) announced that the outbreak from Wuhan, China, officially considered as a pandemic, named it as Covid-19.
https://www.who.int/director-general/speeches/detail/who-director-general-s-opening-remarks-at-the-media-briefing-on-covid-19---11-march-2020

After that whole markets globally crashed. Bitcoin crashed too.

4 years later, we have a new all time high for Bitcoin, above $72,000.

Hold your bitcoins, Bitcoin Spot ETFs will make you richer if you can hold your bitcoins.