Covid-19 and Bitcoin - page 6. | Bitcointalksearch.org

bitbollo

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Quote from: bitcoinermatt on August 15, 2020, 08:37:08 PM

Coronavirus has made us stay home for months now, Bitcoin's price rised while most stocks crashed. Bitcoin's price rise probably has something to do with Coronavirus, People are staying home, buying things online to avoid contact with other people. My question is are more people being initiated to Bitcoin and are Bitcoins scams more frequent because of covid-19?

There are some stocks that have literally skyrocketed like TESLA. But generally speaking we have nowadays the top value of Nasdaq and other indexes.
This means clearly that despite economic is a bit "depressed", stock market has seen one of the best period of the whole history!

For a certain point of view, bitcoin has been appreciated as a new way for storing value.
I mean in very hard time, "magic internet money" could be interpreted as just a game, something to trash in the rubbish. We have seen one of the toughest period of the whole btc history.
Pandemic hit very hard a lot of countries and different business. But people decide to invest wisely and to save money in a new "instrument".

Price continue to grow due the new hype "DeFi". I don't think there is already an impact made by COVID19 crisis.

jademaxsuy

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I think there are other users afraid of the economy problem nowadays due to pandemic. I think it is the inflation they are afraid of like beating up the inflation rate by joining in cryptocurrency. whether we like it or not economy is down and the money has reduced the capacity of money to buy.

Even myself if I had a lot of money instead of saving it to the bank I will be saving it to cryptocurrency. Crypto market price over a period of time rises while money capacity to buy over a peiod of time depreciates.

pawanjain

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I am not sure if the global pandemic was the reason for bitcoin's increase in price but I can say that it did have an effect on bitcoin as well.
The number of bitcoin scams related to covid 19 had increased in past few months.
The global pandemic started in November 2019 but bitcoin's price was not effected until late March.
The stocks were going down along with bitcoin and there was a huge dump in the market.
Though the stocks crashed further bitcoin bounced back and recovered the crash and is now almost at it's ATH of this year.
So I think that bitcoin's price was effected due to Covid-19 but it was not dependent on that and recovered from it long back.

lepbagong

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The direct relationship between the Covid-19 pandemic and bitcoin does not appear to have a direct relationship, although there is a definite impact. because bitcoin, whether there is a pandemic or not, will be able to run according to the capabilities it has. The covid-19 pandemic is only a small part of the impact that has resulted in bitcoin moving either better or worse.

People were already working on bitcoin before the impact of the Covid-19 pandemic, not because they were staying at home, there was more opportunity to focus more on bitcoin, everything was still due to the person's habit of working with bitcoin, if he didn't understand, he certainly wouldn't work on bitcoin either. the duration of time also although a lot will be determined by the existing finances to execute what will be done.

in principle there is no significant impact between the covid-19 pandemic and bitcoin and it continues to run on its own without a pandemic.

pooya87

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you are wrong.
bitcoin price has never had anything to do with the pandemic and it hasn't started now either. due to the virus breakout a couple of months ago the economy had a little crash which also caused the bitcoin traders to panic and sell their coins and cause bitcoin price to have a little crash too but as i said at the time and say now too, bitcoin has nothing to do with the pandemic. if anything what we are seeing now is just the correction of that mistake where price comes back to the normal and more realistic price levels (ie. above $10k heading towards $15k). and like always the real rises only happen with more adoption and adoption is increasing regardless of Covid19.

piebeyb

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if the stock market crashes I believe it is because of covid-19, I also see many companies going bankrupt due to the status of this pandemic, I spend more time at home working on the internet including trading, but if the price of bitcoin goes up because of covid it seems impossible, because I believe in the history that will repeat itself after yesterday's bitcoin halving, usually will make bitcoin prices soar afterwards

tabas

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Whichever the reason for bitcoin's price, it's a combination of many factors. But for the real factor, it has to do something with the bitcoin halving.

Quote from: bitcoinermatt on August 15, 2020, 08:37:08 PM

My question is are more people being initiated to Bitcoin and are Bitcoins scams more frequent because of covid-19?

The number of bitcoin scams never changed, bearish or bullish, they were there.

molsewid

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Quote from: bitcoinermatt on August 15, 2020, 08:37:08 PM

Coronavirus has made us stay home for months now, Bitcoin's price rised while most stocks crashed. Bitcoin's price rise probably has something to do with Coronavirus, People are staying home, buying things online to avoid contact with other people. My question is are more people being initiated to Bitcoin and are Bitcoins scams more frequent because of covid-19?

Yes Covid-19 made us stay at home for months for that reason the stocks crashed. So I'm thinking stock holders pull out all of their investment and see the potential of bitcoin and invest it here.

We can't really answer your question because we can't tract the bitcoin user before and after covid-19.

maydna

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We don't have the right numbers how many people already used bitcoin after the Covid-19 attack in almost all countries. We don't know if the bitcoin price rise is because many people stay home for months, and the stocks crashed. But I think that relates because stock depends on the economy on the countries while bitcoin is not bound in one or two countries. People from many countries who know bitcoin are still trying to make money from bitcoin, and perhaps, that is why the bitcoin starts to rise in this time.

We know about the manipulation price in the crypto market, and I think that happens too in the stock market. But I only think that it is the right time for bitcoin to start rise after it's at on the lower price, so that can give a chance for bitcoin to get another new ATH soon.

davis196

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Quote from: bitcoinermatt on August 15, 2020, 08:37:08 PM

Coronavirus has made us stay home for months now, Bitcoin's price rised while most stocks crashed. Bitcoin's price rise probably has something to do with Coronavirus, People are staying home, buying things online to avoid contact with other people. My question is are more people being initiated to Bitcoin and are Bitcoins scams more frequent because of covid-19?

OP,the same questions were asked 1000 times before your post.There's no need to ask them again.
Yes,Bitcoin price went up because of the recession that was caused by the coronavirus pandemic and the lockdowns.
Scams,that are built around Bitcoin and other cryptocurrencies are always frequent,the situation doesn't matter.
I don't agree that most of the people are "staying home".The quarantine lockdowns are gone fore good and I don't believe that many countries will repeat the same lockdown measures against COVID-19.

plvbob0070

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It's not specifically because of the pandemic. But the quarantine may help since a lot of people are staying in their houses and mostly spending time online. So there is a chance of discovering bitcoin and crypto while browsing the internet.

As for bitcoin scams, they are already rampant even before the pandemic but scammers find this as an opportunity to scam more people because some are desperate for "easy money" due to the unstable income.

Shimmiry

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Quote from: Jawhead999 on August 15, 2020, 09:05:30 PM

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and are Bitcoins scams more frequent because of covid-19?

Not only about covid-19 (e.g. Corona shitcoin, corona fake fundraising), many fraudster use hype or trending topic to gain more traffic (e.g. DeFi, Kobe bryant, Corona etc)

Indeed. And one of pandemic scams common in my local area and might be common in other country as well is simply ponzi schemes saying to earn money by watching youtube videos or anything investment related, as the pandemic made people lose their jobs, and working from home is their last resort.

I wouldn't say that it has any correlation with the Bitcoin's price at all, it is just affecting bitcoin's image as some uses it and cryptocurrency in general to make fraudulent and illegal activities.

carlisle1

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Quote from: bitcoinermatt on August 15, 2020, 08:37:08 PM

Coronavirus has made us stay home for months now, Bitcoin's price rise while most stocks crashed. Bitcoin's price rise probably has something to do with Coronavirus, People are staying home, buying things online to avoid contact with other people. My question is are more people being initiated to Bitcoin and are Bitcoins scams more frequent because of covid-19?

From your questions, the chance that more people will learned bitcoin is very high since people are working online and afraid to go out.
Most of them are looking for open opportunities, and with that, your second question will answer. Apparently we are seeing scam Ponzi
investment again, some might use other terms like digital networking.

It's high time to realized that this venue of investment is not how others are portraying as easy access to become rich, you need to work
and understand the concept in order for you succeed from this industry.

Furious 7

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I think the increase in bitcoin had been before the halving happened because there was an obstacle at the peak of the pandemic in that month so there were still many people who panicked about this which resulted in a big crash in all markets including the world economy, and now it has started to stabilize the price continues to rise due to supply and the ever-increasing demand so this could trigger the bitcoin movement is now even faster.

Online payments still use a debit card including myself because it is a still safe way to transact without contact.

J.Amador

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Maybe yes because corona virus affecting our economy I think that's the reason why bit coin price rised and most stocked crashed.And about frequent scam because people are too desperate to earn money in this situation to buy thier food. They don't how to earn money because they losses their job already because of covid-19. Corona virus have a big impact in our economy and our world.

Yaunfitda

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Quote from: bitcoinermatt on August 15, 2020, 08:37:08 PM

Coronavirus has made us stay home for months now, Bitcoin's price rised while most stocks crashed. Bitcoin's price rise probably has something to do with Coronavirus,

Stocks have somewhat recovered already, Gold has really to its all-time-high. But I don't think it has something to do with Coronavirus directly. Probably more people are using bitcoin to hedge their wealth.

Quote from: bitcoinermatt on August 15, 2020, 08:37:08 PM

People are staying home, buying things online to avoid contact with other people. My question is are more people being initiated to Bitcoin and are Bitcoins scams more frequent because of covid-19?

No, credit/debit cards are still the best option. Not unless you live in a country wherein there is a political crisis resulting to skyrocketing hyperinflation, for example Venezuela or Turkey, wherein bitcoin is being used because their national currency has collapsed.

Jawhead999

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Quote from: bitcoinermatt on August 15, 2020, 08:37:08 PM

Bitcoin's price rise probably has something to do with Coronavirus, People are staying home, buying things online to avoid contact with other people. My question is are more people being initiated to Bitcoin

No, if bitcoin price rise caused by this pandemic... Bitcoin will bullish since January until now, but its not since on March-April Bitcoin got dump (<$8000). Online payment is one of Bitcoin aspect, IMO majority not use it as online payment because the adoption is still not massive... majority will use paypal or credit card rather than bitcoin.

Quote

and are Bitcoins scams more frequent because of covid-19?

Not only about covid-19 (e.g. Corona shitcoin, corona fake fundraising), many fraudster use hype or trending topic to gain more traffic (e.g. DeFi, Kobe bryant, Corona etc)

bitcoinermatt

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Coronavirus has made us stay home for months now, Bitcoin's price rised while most stocks crashed. Bitcoin's price rise probably has something to do with Coronavirus, People are staying home, buying things online to avoid contact with other people. My question is are more people being initiated to Bitcoin and are Bitcoins scams more frequent because of covid-19?

Topic: Covid-19 and Bitcoin - page 6. (Read 1171 times)