Bitcoin - Reinforced by the pandemic

kawetsriyanto

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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.

Is it actually quite different?
During the pandemic, moreover at the early, this year, lockdowns and jobless are everywhere. Gold is increasing so highly because they want to invest their money in gold, but other stocks are no, they are really down.

But here, the price of Gold seems very changing and it is decreasing. It is different from what happens to BTC. The price of BTC itself is increasing highly and significantly, moreover in this week.

FlightyPouch

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Quote from: mangsitin on November 17, 2020, 05:28:54 PM

now i really believe in bitcoin, usually, i hate bitcoin or fear when bitcoin falls, in march 2020, bitcoin price is $ 3800. I predict that Bitcoin will crash and die. but now the reality front of my eyes, bitcoin is recovering again. many figures admit bitcoin is better than gold and silver. bitcoin will create a sharp rally like 2017.

You should know that we know better than that. That we won't just leave bitcoin since the price dump that low. There will be a lot of investors that would take that dump as a chance, as an advantage to reinvest. Just imagine the profit we have right now, that is almost 5 times that profit they since that sudden fall. Bitcoin will not die, people won't let it die.

mangsitin

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now i really believe in bitcoin, usually, i hate bitcoin or fear when bitcoin falls, in march 2020, bitcoin price is $ 3800. I predict that Bitcoin will crash and die. but now the reality front of my eyes, bitcoin is recovering again. many figures admit bitcoin is better than gold and silver. bitcoin will create a sharp rally like 2017.

7788bitcoin

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

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?

I am here in the community because i trust bitcoin more than any other financial asset and if you are smart to invest at the right time then the market will give you the results you are looking for. The recent surge in price was not expected by me in this short period of time but i am happy to see that it was able to break multiple resistance and still soaring and it is because of big investors playing their hand as well.

milani

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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?

May be you are quite right. There is a sense in your words. May be people just saw some perspective in Bitcoin snd crypto, and some alternative comparing with different other investments. And were staying too long at homes people should do something, being jobless in most cases and without opportunities to get wages. So lots of people or remembered about BTCs, or even tried to learn this direction and to go into it, like trying the onliest opportunity that stayed off the influence of crisis that different businesses faced.

verita1

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I think that the behavior of Bitcoin in March in the midst of the crisis due to the pandemic was due to the uncertainty of investors about how the economy could advance with all that panorama. As time has progressed we have clung to the digital economy which is why Bitcoin is the best option. There are also top Bitcoin advocates who are doing a great job of pushing the currency forward like Grayscale's Barry Silvert, MicroStrategy's Michael Saylor among others. I think that Bitcoin will no longer be like before it is evolving for our future.

crossabdd

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If someone followed the movement of the bitcoin market from the beginning, or the middle of 2014-2017, I think they have believed that bitcoin will not fall like the first price. The price drop is giving opportunity to those who believe in the strengthening of bitcoin. and today has excited bitcoin holders, and the bitcoin crisis will keep them calm.

traderethereum

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Yes, bitcoin has survived the initial dump and rebounded from the lowest price into the highest price, and from what we see from this year, the price starts the rallies, although it does not directly jump to the current price now.
If the investors see this, they will trust bitcoin again as before, and maybe that can attract the old investors who leave bitcoin in the past because they lose the money to come back and invest in bitcoin again.
It is important to gain trust from the investors because that can give bitcoin has the opportunity to increase step by step.
Maybe the new investors have more confidence in investing in bitcoin because they see that the way of bitcoin will be bright in the future.
This time, the investors will not just invest in bitcoin, but they also learned more about bitcoin, so they know that bitcoin prices have volatility.
They will be careful to decide when to invest in bitcoin because they can be responsible for their money, and they will minimize the risk.

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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.

Here's the fact, with or without the pandemic bitcoin would had still outperformed all assets this year. In my honest opinion I would say the pandemic even held bitcoin growth backwards as it made it difficult to some extent as bitcoin had to recover first from an initial crashed before the profits started pouring in.

Sometimes you might want to look the other way as it could be the lack of trust by investors in other assets that made them drive into the nearest assets with a different ideology. Most investors coming in of recent don't believe in the vision bitcoin is working on which relate to them not trusting bitcoin but just don't want to miss out of the profit the industry holds as they're see a new waves flowing in that direction.

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

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?

Of course each new year bitcoin stands its position in the market means a reinforcement to the trust of currently and new investors over the digital currency. As I see, bitcoin's reputation is only growing day by day and the pump we had in btc's price this year reflects this reality. But talking particularly, my confidence in bitcoin is still the same since 2016. Although there were deep dumps and bad comments about bitcoin I didn't stop believing.

fullhdpixel

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Right from time I have always had trust in Bitcoin as an investor. My trust for Bitcoin increased around 2017 when the pressure was too much on Bitcoin, though I have believed in it from the start, but the things that happened that year increased the level of trust I had.

There were lots of people saying trash about Bitcoin, things like Bitcoin is going to die and all that, like the pressure was too much and it was like that would be the end of bitcoin, but that same year was the year that the price of bitcoin reached its highest price ever. That made trust in bitcoin. Although my main motive behind getting into Bitcoin wasn’t for investment, even if the price goes up or down, I know for sure that wouldn’t be the end.

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Quote from: budi691 on November 16, 2020, 09:10:05 AM

Many people predict it will rise again this year and coincidentally in 2020 this pandemic is also coming, and when people stay at home because of this pandemic, many people are interested in Bitcoin, so this pandemic has only a small impact on Bitcoin.

big or small of the impact on bitcoin, it will help bitcoin to be increasingly recognized by the public and then used as a more profitable investment during this pandemic. People living at home because of the pandemic will continue to study Bitcoin, the current price of bitcoin is almost at a new ATH and this will be a new record. We'll see the development of bitcoin during this pandemic.

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Quote from: imstillthebest on November 16, 2020, 03:45:31 AM

stocks are not in a good shape during the covid but i dont have an update on gold . gold still be in a stable condition . btc on the other hand are doing great in the middle of the pandemic , as you see all three assets are in different conditions . btc havent been in a dumped mode yet so expect things to to become negative soon but that phase can be easy on btc and it can always survived it . the pumped in the price of btc gives a confident to the investor and they be putting more money in it .

Bitcoin does have affected the early stage of the pandemic that causes a short bear. I remembered that it hit below 4k and regain its price slowly afterward. Stocks would be the one who is affected by the pandemic because it is backed by real company assets. We do see how bitcoin can hold even there is a pandemic going on and it proves how fast it can regain the downfall it experienced.

kentrolla

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Honestly if you say me to invest now I am not ready to take the risk because the price has already gone up, I always follow the basic rules of crypto market to buy low and sell in high. Also I was literally scared to invest during this pandemic as I thought the price may go down very badly because of the continuous lockdowns across many countries and this has already collapsed the economy but BTC was pumping slowly which was unbelievable. People started to invest in BTC after leaving stock, oil, crude etc... This was the turning point of change in the market prices.

Yamust

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I think pandemic that has happening now has nothing to do with the price of Bitcoin now. It is just many people now are interested in Bitcoin and want to earn profit from it. But maybe somehow, it affects since during this time many people are thinking of ways on how to earn money without physical interactions with others, and they think Bitcoin is the easiest way to invest.

budi691

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Many people predict it will rise again this year and coincidentally in 2020 this pandemic is also coming, and when people stay at home because of this pandemic, many people are interested in Bitcoin, so this pandemic has only a small impact on Bitcoin.

kotajikikox

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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?

When I bought in March when the price is really falling hard yet I consider buying more?i can say that it is confident and trust also in this market that I have been serving for years now.
and also though there is still no sign of making a new ATH yet I know there is something cooking in the kitchen and we will be surprised once it is revealed.

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Quote from: Malam90 on November 16, 2020, 05:30:02 AM

I don't consider that Bitcoin is similar to other assets like gold or stocks. It is quite different in nature. In stock markets, there is ups and downs but we don't see such fluctuations like 2x-3x within few months that Bitcoin has showed. When Covid 19 broke out and price quick fall down from $11500 to $4700 within few days and after shortest possible time, it started to recover till today. I was confident enough about Bitcoin when Covid 19 broke out.

I think it's because so many people work from home so many are looking for information on how to make more money at home and there are many articles and several other media that talk about cryptocurrency, especially bitcoin, so that many people are curious and interested in trying bitcoin which ultimately makes the price go up like this, some time ago it was supported by the good news from paypal which accepted and legalized cryptocurrency transactions meaning that more and more people would buy bitcoin easily and had a good effect on the price.

sayaya17

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

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?

Even before the pandemic, and before bitcoin ATH in 2017, we could see the history of bitcoin at low prices, even at very low prices.
But during that time until now many investors believed in Bitcoin, even bitcoin is increasingly mass adopted by various circles.
Moreover, large companies also divert their investments in bitcoin. This shows that the existence of bitcoin in the world is increasingly believable,
not the other way around. Even with the pandemic, investors still believe in bitcoin. If the price drops, yes it's because bitcoin is unlikely to move straight in the chart.
It must be bumpy.

Malam90

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I don't consider that Bitcoin is similar to other assets like gold or stocks. It is quite different in nature. In stock markets, there is ups and downs but we don't see such fluctuations like 2x-3x within few months that Bitcoin has showed. When Covid 19 broke out and price quick fall down from $11500 to $4700 within few days and after shortest possible time, it started to recover till today. I was confident enough about Bitcoin when Covid 19 broke out.

Noctis Connor

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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?

Indeed bitcoin now is really valuable which is can compare to gold some of companies are holding bitcoin which can save them when it comes of crisis not only in this kind of pandemic,
Bitcoin already survived this long how can we doubt bitcoin when bitcoin already do so much not only by profit also you can use bitcoin to buy some asset.
As investors i am highly confident bitcoin because since then i am using it and gives me so much benefit that i am really thankful that i knew bitcoin. Like this kind of pandemic i can get money whenever i want because of the lock down.

arwin100

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Quote from: ChrisPop on November 16, 2020, 04:21:58 AM

Quote from: AniviaBtc on November 15, 2020, 10:12:52 PM

Absolutely!!! This pandemic is the right time for holding btc right now.

Bitcoin community will probably grow this time because most of the people spend time on looking for something profitable while staying at home. I think bitcoin is the number 1 thing that they will found in the internet. Cryptocurrencies are really profitable once used properly and bitcoin is the most popular so people will invest to it immediately.

I'm very confident with my bitcoins as I see some improvements in its price these past few months.

I fully agree with you, man. But we need to be careful not to promote just the profitability part. We don't want people to invest into Bitcoin just because it gives a high ROI.

A few years in the future, when Bitcoin hopefully will be utilized as a mainstream currency and value standard, the price is going to be much more stable than now.

It gives false hope to the people if we tell them how big they can get if they learn to invest with it and once they failed for sure they will give a bad feedback on bitcoins and tell to the other people which can create bad impression.

That's why it's best to point them first to the benefits what they can get before the introduced them the profitability since by that I think all is balance and provably many will stay if they discover how good the tech of Bitcoin and cryptocurrency is.

ChrisPop

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Quote from: AniviaBtc on November 15, 2020, 10:12:52 PM

Absolutely!!! This pandemic is the right time for holding btc right now.

Bitcoin community will probably grow this time because most of the people spend time on looking for something profitable while staying at home. I think bitcoin is the number 1 thing that they will found in the internet. Cryptocurrencies are really profitable once used properly and bitcoin is the most popular so people will invest to it immediately.

I'm very confident with my bitcoins as I see some improvements in its price these past few months.

I fully agree with you, man. But we need to be careful not to promote just the profitability part. We don't want people to invest into Bitcoin just because it gives a high ROI.

A few years in the future, when Bitcoin hopefully will be utilized as a mainstream currency and value standard, the price is going to be much more stable than now.

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Quote from: gabbie2010 on November 15, 2020, 09:23:43 PM

From my own point of view, I believed that lockdowns and restrictions imposed on many people by government to avoid contacting the virus provided opportunities for them to research more about Bitcoin probably enables newbies investors to invest for a trial and also avoiding physical contact with Fiat in a bid to purchasing stuff online culminated to many people diverting their attention toway Bitcoin as an alternative digital currencies all these factors could be responsible for Bitcoin bullish runs, buyers are always in the market in these pandemic period, I think the price will not dump at this point in time despite the minor pullbacki experienced by the price few days ago.

Actually, that's true. A lot of people were stuck in their homes during this pandemic and also at that time, bitcoin had halving that made a lot of people aware about the presence of bitcoin. And since people are looking for alternative digital payments because they want to avoid using their cash, at some point, they encountered bitcoin or crypto as another payments. Some people also look in the aspect of investments. So in general, pandemic did actually good to crypto community in terms of adoption, which means more demand in the market.

imstillthebest

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stocks are not in a good shape during the covid but i dont have an update on gold . gold still be in a stable condition . btc on the other hand are doing great in the middle of the pandemic , as you see all three assets are in different conditions . btc havent been in a dumped mode yet so expect things to to become negative soon but that phase can be easy on btc and it can always survived it . the pumped in the price of btc gives a confident to the investor and they be putting more money in it .

error08

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The pandemic has had little effect on bitcoin, the best possibility is that people sell off the stocks and switch to bitcoin to hedge the funds due to the crisis that may come because of covid. From March to April 2020, bitcoin price rises $3k within a month, but it climbs even higher towards halving day to $10k.
The halving day is the biggest reason for the increase in bitcoin prices to date because the value of bitcoins is basically calculated based on mining expenses correlated to supply and demand.

Negotiation

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Every trader is very happy because of the increase in the price of bitcoin is powerful by the epidemic because the covid-19 epidemic has affected everyone the epidemic has created a public health crisis that has also called for an economic crisis. Due to the deadly nature of the virus there are numerous small businesses that have been forced to shut down their streams of income by drying up but bitcoin can't hurt bitcoin is very strong in the midst of the epidemic and its demand has increased so much that the price is going to go up.

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During the early stage of the pandemic crisis bitcoin dropped so low and this made many people lost confident in bitcoin and many sold at lost due to panic, but only the smart and learned ones could predict the future to an extent, later on bitcoin started increasing even when the pandemic was still strong, and currently it has rised to the moon, and I could say that this pandemic was a trigger to bitcoin, but due to its fall from the start of the pandemic many investors wasn't patient enough. I think this recent invent has made many investors have a strong confidence in bitcoin.

royalfestus

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Quote from: AmoreJaz on November 15, 2020, 03:48:24 PM

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.

some sold big part of the portfolio in March to keep fiat for unforeseen situation the pandemic might bring, Lets say people get to know about cryptocurrency and its benefits due to the pandemic and lockdown, but how are people able to invest in the space with the decline in the world economy, loss of jobs and business?

yazher

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From the start, I am more confident about bitcoin being the best investment because of its unique features in the market. despite the bearish trend last year, it holds its spot in the top one and it only took a few months before it recovered its price again. right now, if it's gonna stay at this high price for long, I'm sure it will also rise someday and renew its old ATH. I think most of the people are already happy to see the result of the price today.

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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?

Absolutely!!! This pandemic is the right time for holding btc right now.

Bitcoin community will probably grow this time because most of the people spend time on looking for something profitable while staying at home. I think bitcoin is the number 1 thing that they will found in the internet. Cryptocurrencies are really profitable once used properly and bitcoin is the most popular so people will invest to it immediately.

I'm very confident with my bitcoins as I see some improvements in its price these past few months.

0t3p0t

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Quote from: tsaroz on November 15, 2020, 09:00:35 AM

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.

I agree. I can relate this one here. I was once a bounty hunter way back 2017 and when the market turns red in 2018 and signature or even bounty campaigns became scarce I decided to find a job, so I get a day job but when pandemic has worsen lately I lost my job so I came back to crypto. What I've observed is that, when people are in FUD because of crisis they are going to find a way to feel safe. But still depends on what makes them comfortable whether investing in precious stones or metals, cryptocurrency or in stocks.

On the other hand, pandemic turns people into investing in cryptocurrency specifically Bitcoin since as you have said they have a lot of time to learn how it works and what it's purpose of existence. Plus being at home makes everything and everybody be on the internet which makes their curiousity becomes reality. Here in my country we can use Bitcoin to pay for goods and services online. That is how and why Bitcoin price keeps on rising because more and more people are jumping in.

lienfaye

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We already see bitcoin in its lowest value, many investors lose hope and panic that it might go to zero value but btc managed to bounce back.

Despite of the roller coaster ride, here we are enjoying the price increase of bitcoin. Its a reason to stay firm and more confident that there's more to look forward in this technology.

We already experience the worse situation and overcome it, so there's no reason to have doubts. I am more confident and certain that I made the right decision to engage myself in crypto particularly in bitcoin.

gabbie2010

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From my own point of view, I believed that lockdowns and restrictions imposed on many people by government to avoid contacting the virus provided opportunities for them to research more about Bitcoin probably enables newbies investors to invest for a trial and also avoiding physical contact with Fiat in a bid to purchasing stuff online culminated to many people diverting their attention toway Bitcoin as an alternative digital currencies all these factors could be responsible for Bitcoin bullish runs, buyers are always in the market in these pandemic period, I think the price will not dump at this point in time despite the minor pullbacki experienced by the price few days ago.

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Quote from: FlightyPouch on November 15, 2020, 06:33:52 PM

When I started investing some money in bitcoin, that is when it all started, that it will all be great in the near future as it will be one of the most popular asset. The price rose and dumped during this pandemic so we can't actually say it is all because of the pandemic, right? It is because of the people.

because people continue to trade and many new people or beginners start investing in Bitcoin during this pandemic. Bitcoin is an option because there are several advantages that can be obtained if you invest in bitcoin properly. It's not because of the pandemic, Bitcoin is strong and has survived to this day because of a growing community and with technology that is useful and can be applied in all aspects.

Just waiting for the price of bitcoin to reach the new ATH and bitcoin will be increasingly recognized and discussed everywhere.

Eureka_07

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I'm pretty sure the pandemic did not had any huge effect on how bitcoin's value went in this time of pandemic.
Bitcoin has been well established, since it was launch, the trust skyroketed, and gradually increasing overtime.
This should be the general reason why bitcoin's price is not declining so hard recently. people(traders) has a very positive view that bitcoin will have higher value in the future, bitcoin is just starting to heat up, there are lots of things that will happen that we know will affect bitcoin possitively.
Bitcoin adoption is gradually increasing, it's a positive sign for bitcoin.

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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.

If you check all the market responses, it's all because of human behavior and what they will do with their current investment. Some would've probably withdrawn their investments in the market to prepare for the pandemic (which has happened). As the global pandemic is slightly loosening and almost going back to normal, people invested again, a possible cause of the rise in price. More adaptation and more companies investing in Bitcoin as well.

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

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?

This could be a key entry point to show that this asset is definitely worth investing in. I mean, we cannot convince everyone, but we might as well try, right? It's best to show these kinds of facts to the people, and maybe they would understand how beneficial it is in our society's financial sector.

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?

I had become more confident and somewhat regret the BTC I exchanged for Fiat. I could've had a larger price on it, you know? That's just how it is, and I accept that with BTC.

famososMuertos

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I believe that bitcoin is in that volatile process that always accompanies it more driven by the halving process and its ecosystem conditions than by external effects, which seem to influence but only coincide, it is a perception that it causes in some users, look at the historical growth and compare them with the social or economic situations of the moment, there is nothing there that can be said to influence with certainty.

That leads me to mention that as an investor it would be a mistake to think about investing in bitcoin due to certain social or economic factors that occur at a certain time, in fact it is simpler than all that, just invest whenever you can and have resources, it is incredible to think that with the price that bitcoin may have in the coming months, even if it goes over 20,000, it is a good time to invest.

In conclusion, my confidence does not depend on these external factors, it depends on the bitcoin itself.

FlightyPouch

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When I started investing some money in bitcoin, that is when it all started, that it will all be great in the near future as it will be one of the most popular asset. The price rose and dumped during this pandemic so we can't actually say it is all because of the pandemic, right? It is because of the people.

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Ever since I have got engaged into investing with Bitcoin, I am certainly and absolutely confident. Even before and as soon as the pandemic crisis come to an end, I will become more confident into my decision of investing into Bitcoin. For sure, many of us in here will certainly agree for the fact that many of us here have seen how Bitcoin have surpassed all the circumstances that it have faced ever since the time that it become existent within the market. Pandemic is not just the only circumstance that Bitcoin and the crypto market that have faced even before and all of those have been survived which showcased how strong Bitcoin is which means it is certainly a good and worthy investment.

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

legendary

Activity: 1134

Merit: 1599

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

hero member

Activity: 3038

Merit: 634

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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Activity: 2338

Merit: 1775

Catalog Websites

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

newbie

Activity: 1

Merit: 0

I think Bitcoin is risky for longterm

avikz

legendary

Activity: 3080

Merit: 1500

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

hero member

Activity: 2702

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Nothing lasts forever

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

legendary

Activity: 2128

Merit: 1293

There is trouble abrewing

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

legendary

Activity: 1890

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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

sr. member

Activity: 1848

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Duelbits.com

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

sr. member

Activity: 1316

Merit: 270

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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Daxetoken.net

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

legendary

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Not your Keys, Not your Bitcoins

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

hero member

Activity: 2464

Merit: 519

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

legendary

Activity: 3164

Merit: 1069

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

hero member

Activity: 2870

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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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Activity: 3346

Merit: 1618

#1 VIP Crypto Casino

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

hero member

Activity: 1666

Merit: 709

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

hero member

Activity: 2366

Merit: 838

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.

DapanasFruit

member

Activity: 1218

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Binance #Smart World Global Token

Yes, of course. The current state of the price of Bitcoin is a great indication that more and more people and institutions are trusting Bitcoin, and I am sure that many holders are looking forward that soon it can be able to breach the $20K level and from there hopefully it will never look back. But of course, we know that anything can happen with Bitcoin.

Nobody can be sure what can be especially in 2021 all we can do is hope and wish that things will be so positive. Now, is this the right time to get into Bitcoin? That is a harder question to answer and all depends on a person's appetite for risks.

ChrisPop

legendary

Activity: 2324

Merit: 1035

Not your Keys, Not your Bitcoins

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?

Topic: Bitcoin - Reinforced by the pandemic (Read 659 times)