Bitcoin - Reinforced by the pandemic - page 3.

AmoreJaz

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Quote from: Nhor1011 on November 15, 2020, 10:02:06 AM

Bitcoin is already valuable, strong and trusted digital currency even before the pandemic. Real and wise investors will always confident in bitcoin because bitcoin has already a foundation and at the time of dump, investors will surely take it as a good chance to buy because they know it will rise again at the right time.

thats my take here. even before pandemic, bitcoin is already doing good and those who truly believe the capability of btc knows that it has a strong future. however, this pandemic further strengthen its use case in the market. those noncrypto users start to understand the benefits it may bring to their portfolio.
as people were stuck in their homes, a lot of people came to know crypto or btc and search what it is. some are looking for alternative payment method or just looking for investments.
some people of course are hesitant when it comes to dealing with crypto, but i guess when paypal announced about the integration of crypto in their system, this add more confidence to noncrypto users that crypto is not indeed a fraud.

pixie85

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Yes, I'm sure it acted as a reinforcement.

Investors always look for signs of strength or weakness on the market. A fall from 20 thousand to 6 thousand was a sign of weakness and we fell even lower to 3000.

A rebound back to 6000 was the first sign of strength followed by 10 thousand and then 14. Each of these made more investors join the rally.

20kevin20

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To be honest, while there surely are a lot of risks involved in holding Bitcoin, time has only proven me wrong every time I thought it's not worth the risks. I really believe the huge stock dip has caused too much panic for BTC investors to know how to react. Let's not forget that the last crisis was right when Bitcoin was born. Since then, we've never had such times. Hence, the Bitcoin market had to go a bit wild before choosing its path.

What makes me excited is that the market has rebounded, which basically does show me that investors have way more trust in Bitcoin. Meanwhile though, it still keeps a course that sometimes tends to follow more stocks than precious metals and sometimes it tends to do the opposite.

Time is what we need. Either that, or we have to simply accept that Bitcoin is not something to include in the gold/stocks category. Maybe it just is a completely new kind of asset that follows a completely different course.

sunsilk

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Yup. Before the crisis has started, I'm more than confident that I have invested in bitcoin already. There's nothing to worry about it because I'm familiar with its move and volatility.

Initial dump or not, as long as I'm seeing bitcoin's price is up and much better this time that it is on $15k-$16k I'm very much ok with it. The new investors could have some doubt that they are buying but you'll realize that you have done it correctly.

Smartprofit

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Quote from: ChrisPop on November 15, 2020, 07:47:29 AM

Bitcoin price behaviour has been somehow similar to stocks and gold during this COVID worldwide crisis.

My question for the crypto community in here: Do you think that the fact BTC has survived the initial dump and rebounded, consolidated, marched upwards, and now standing close to its ATH acted as some kind of reinforcement to the trust investors have in this asset?

In other words, are you now, as an investor more confident about investing in BTC than before the whole crisis started?

Yes, it was very important for me that the bitcoin price at the end of 2020 was over $ 15,000.

Why is this so important? 2020 is a very interesting year. This is the year leading to a new decade (2021-2030). The fall in the price of bitcoin this year will mean that the first cryptocurrency is not a defensive asset. Satoshi Nakamoto created Bitcoin as an anti-crisis asset. The Covid-19 pandemic has led to a global economic crisis.

Bitcoin has proven to be a great investment asset (digital gold).

bahrambijani

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I think Bitcoin is risky for longterm

avikz

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Quote from: ChrisPop on November 15, 2020, 07:47:29 AM

In other words, are you now, as an investor more confident about investing in BTC than before the whole crisis started?

Possibly yes! Also you need to factor in that corporate interest has also increased around bitcoin during this time of pandemic. The result of such positivity around bitcoin is clearly shown in its price which is standing close to 16 grand! So as more liquidity entered into the market, the price took the major impct, in a positive direction!

pawanjain

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Quote from: ChrisPop on November 15, 2020, 07:47:29 AM

Bitcoin price behaviour has been somehow similar to stocks and gold during this COVID worldwide crisis.

My question for the crypto community in here: Do you think that the fact BTC has survived the initial dump and rebounded, consolidated, marched upwards, and now standing close to its ATH acted as some kind of reinforcement to the trust investors have in this asset?

In other words, are you now, as an investor more confident about investing in BTC than before the whole crisis started?

Ofcourse bitcoin has created a trust value in the crypto community. This is because bitcoin had already recovered quite a few times in the history.
Many people thought bitcoin would not recover from the 2018 dump at all but it did recovered and is now heading towards ATH price.
This has created a good hype in the crypto community and many people are starting to trust bitcoin again.
May be this is why bitcoin's price is again increasing every week.

BrewMaster

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i have never found bitcoin similar to anything else least of all stock market. the pandemic is still taking its toll on the stock market even if it doesn't show it we can see that over the past couple of months there has been nearly zero growth in stock market, only a dump which was recovered and price is now what it was before the dump.
meanwhile bitcoin was rising, had a dump then recovered and has been rising way beyond what it was before the dump.

as for pandemic, i don't think it had any effects on bitcoin at all except the initial panic sell that didn't last that long either.

Jawhead999

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To be honest I don't really see any correlation in both of Bitcoin and pandemic, probably it only affect less or even nothing. Bitcoin are in bullish due to last halving, FOMO, many big companies start accepting Bitcoin (e.g. Paypal) , and many countries also start legalizing Bitcoin. It will make Bitcoin get more adoption by many peoples and it start bullish.

Sterbens

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actually when the pandemic hit bitcoin it became the main target for investing safely without interacting, besides the crisis the effect made bitcoin stronger. As a result, in November and December everyone will be convinced that Bitcoin can save their assets. indeed facing the following year the bitcoin quarter continues to rise again and towards its ATH position.

Warkop

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Quote from: ChrisPop on November 15, 2020, 07:47:29 AM

Bitcoin price behaviour has been somehow similar to stocks and gold during this COVID worldwide crisis.

My question for the crypto community in here: Do you think that the fact BTC has survived the initial dump and rebounded, consolidated, marched upwards, and now standing close to its ATH acted as some kind of reinforcement to the trust investors have in this asset?

In other words, are you now, as an investor more confident about investing in BTC than before the whole crisis started?

Before this pandemic occurred I already believed and invested in BTC, because I was sure that with such good development from year to year I was determined to maintain it in the long term, even though there was a lot of news that spread the FUD about BTC but it did not make me panic. What's more, in a pandemic like now, many people are investing in BTC for their future assets, therefore BTC is increasing.

Nhor1011

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Bitcoin is already valuable, strong and trusted digital currency even before the pandemic. Real and wise investors will always confident in bitcoin because bitcoin has already a foundation and at the time of dump, investors will surely take it as a good chance to buy because they know it will rise again at the right time.

ChrisPop

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Quote from: Yaunfitda on November 15, 2020, 08:56:31 AM

Obviously that is the case, when it went like -50% or more during March, I would say that people did lose hope or just waiting to invest if the price goes down to $2k range. But based on historical perspective, bitcoin has this somewhat ability to really recover from the worst dump. If you check the greed index, it is on the range of extreme greed, so we can equate that investors are more willing now to invest because they are betting on a eventual bull run next year.

Interesting perspective. I'm surprised it hasn't come to my mind. So to follow you train of thoughts: investors might start accumulating this year when the economy is in turmoil, so when it recovers they reap the biggest rewards assuming that we do get out of the pandemic (with a vaccine hopefully).

royalfestus

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Quote from: BIT-BENDER on November 15, 2020, 08:45:03 AM

Starting with the title heading, the pandemic did not reinforced via the pandemic, at the pandemic start I was not sure if bitcoin will come good, especially when the oil price dropped significantly, but Bitcoin did well during the pandemic.

Investors that are confident in crypto-coin because of price, get fooled, and long term losers, many coin has fake high price, investors should be confident in Bitcoin by now, and that is not for it price, -it can fall to its ATL and wise investors would be confident and can get the more-

Some topics/thread are just raised for the fun of it, no premises to deliberate, no new information not even a notion to generate an argument. Now you are building the argument correctly. Most traders are not in a good frame of mind to predict an early come back for cryptocurrency in that market, so I dont know how anyone will come out and say this now. We might say the condition is better but the economic situation in the world at the moment does not put the atmosphere for cryptocurrency to thrive at all.

tsaroz

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The pandemic surely gave people enough time to learn and buy bitcoin. People are even investing in crypto just because they can't buy stocks. Though pandemic has made a lot of people lose their job but the expenditure are also very low. Every people with a salary are not finding places to spend their money and hence moving to crypto.
I think bitcoin has stepped up above $10K. The prices may fluctuate wildly but I think it would resist itself above 10K.

Yaunfitda

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Quote from: ChrisPop on November 15, 2020, 07:47:29 AM

Bitcoin price behaviour has been somehow similar to stocks and gold during this COVID worldwide crisis.

My question for the crypto community in here: Do you think that the fact BTC has survived the initial dump and rebounded, consolidated, marched upwards, and now standing close to its ATH acted as some kind of reinforcement to the trust investors have in this asset?

In other words, are you now, as an investor more confident about investing in BTC than before the whole crisis started?

Obviously that is the case, when it went like -50% or more during March, I would say that people did lose hope or just waiting to invest if the price goes down to $2k range. But based on historical perspective, bitcoin has this somewhat ability to really recover from the worst dump. If you check the greed index, it is on the range of extreme greed, so we can equate that investors are more willing now to invest because they are betting on a eventual bull run next year.

DeathAngel

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I’ve always been confident that bitcoin will succeed & ultimately achieve global, mainstream adoption. The fact that after admittedly, initially dumping as covid became a thing but then rallying to where we are today, it just shows that bitcoin is going to do very, very well in the short to medium term future.

Nothing can stop this train, we will move to a new ATH before mid 2021 & then by the end of that year be at an obscenely high price.

BIT-BENDER

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Starting with the title heading, the pandemic did not reinforced via the pandemic, at the pandemic start I was not sure if bitcoin will come good, especially when the oil price dropped significantly, but Bitcoin did well during the pandemic.

Investors that are confident in crypto-coin because of price, get fooled, and long term losers, many coin has fake high price, investors should be confident in Bitcoin by now, and that is not for it price, -it can fall to its ATL and wise investors would be confident and can get the more-

tbct_mt2

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The period when I was most confident with my investment in bitcoin is in November and December of 2018. To be honest, I was not confident when bitcoin was crashed in March. I bought it but to say I was confident, I was not.

The pandemic help bitcoin to climb so close to its all time high, is it true. I don't know.

Before the pandemic, the rise in May and June 2018 gave me thoughts that the circle of bitcoin was shortened than its past halving. The pandemic is a coincidence and makes people thought bitcoin rise to all time high price is caused by pandemic. It is not true.

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