People usually elaborate minor issues and create unnecessary panic when there is none. With all that is going on, I'm not surprised to see the price of Bitcoin go this way. And with it recent price, I still believe it's doing good. I was actually thinking the price will go below what we have now.
Nevertheless, I believe the price will soon rise again but then, many won't be able to purchase it then.
Topic: Bitcoin was never meant to be a hedge against a Global Pandemic - page 3. (Read 547 times)
Once when the fear of the Global Pandemic absolves, Bitcoin will continue on its way toward what it is meant to achieve.
It is what we're waiting for. Whoever has the patience on these times, will reap later on. We can't deny that the global pandemic that we're dealing with is somehow correlated with bitcoin's correction.There is real fear among many people that things will continue to get much worse and dangerous for a very long period of time.
I'm pretty much looking at the brighter side of the number of patients that have been recovered and this shows hope not just on the health sector but to the financial sector too. Soon, things will calm and the market will recover. 
Good point and just what I'd been arguing with a long time ago with friends. I mean, I love bitcoin and I think it's a hedge against all things fiat. But this coronavirus is a doomsday scenario, which is also what I was arguing about, that if some big event hits the whole world and people need to SURVIVE, bitcoin will do as badly as fiat and stocks etc.
BUT stocks and fiat will DIE if things get 10 times worse than they are today. Bitcoin will actually survive.
BUT stocks and fiat will DIE if things get 10 times worse than they are today. Bitcoin will actually survive.
Speculative financial assets never perform well in a falling market. This is the first bear market Bitcoin has seen and I think it’s performing exactly as expected.
I believe in a normal Financial Crisis, Bitcoin would have fared better, but we are dealing with something that is being treated as much larger, which is a global pandemic. In 2008 people didn't hoard groceries, hoard supplies, get locked inside of their houses, have their livelihood shut down etc. This is not just a financial crisis, this is something different. There is real fear among many people that things will continue to get much worse and dangerous for a very long period of time. Bitcoin was never meant to be a hedge against a global pandemic. Gold is suffering the same fate as well, Gold is not a hedge against a Global Pandemic either. Once when the fear of the Global Pandemic absolves, Bitcoin will continue on its way toward what it is meant to achieve.
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