Topic: Does the epidemic have a big impact on Bitcoin? - page 5. (Read 1301 times)

public panic because the impact of the current pandemic cannot change the selling value of bitcoin, it's just that they are affected and panicked to sell but I'm sure everything will run normally even though the economic movement is a little shaky with the belief that bitcoin will prosper..

In the epidemic, Bitcoin was indeed affected. The black swan incident on March 12 made many experts say that Bitcoin was going to zero, but after a month or so, Bitcoin no longer has other constraints and has its own independence. In the market, a large amount of money flows into other investments, and Bitcoin is one of the best choices.

Bitcoin can be said to be an absolutely safe asset. Affected by the epidemic, the economy led by the United States has experienced problems. People are afraid of the depreciation of the dollar and will seek other asset investments to maintain their value. Bitcoin-led cryptocurrency is just right. Consistent and easy to trade, the virtual currency market, as an asset hedging identity, will not keep falling.

From last year's price point of view, in the absence of obvious policies, the entry of investors and institutions will also promote the price of Bitcoin. Because of the epidemic, global currency overflow, too much money printing, and inflation, digital currency is an export. This is also the reason why Bitcoin rebounded after the epidemic.

Affected by the epidemic, global financial markets have experienced severe turbulence. Bitcoin is no exception. It plummeted 54% in mid-March. In fact, this is not surprising. Bitcoin is a hedge asset under the collapse of the legal currency system, not a crisis response. After that, Bitcoin rose by 20%. The financial crisis actually promoted the maturity of Bitcoin.

In my opinion I also think the same way, this pandemic give a big impact to the market, especially we talk about cryptocurrency market. There are so many people who had lost their job and crypto will be the next option for them to be productive.

In the earliest months since the pandemic, the cryptocurrency industry was shaken and it was evident when bitcoin all of a sudden dropped below $10,000 at the height of the COVID-19 panic. It would've never recovered, at least for me if not for the fact that important personalities and influencers pooled their efforts into pumping bitcoin, in which it even reached an all-time-high of $63,000. So yes, pandemics and worldwide events will definitely have an effect over bitcoin's price.

IMO this pandemic has had a huge impact on Bitcoin and Altcoins, Because of the difficulty of getting a job, many people are trying to find other alternatives to make money. a survey conducted in my country, people are getting interested in Bitcoin and Altcoins because they believe in the big profits they can get if they buy during this pandemic.

The moment that these realizations started kicking into the minds of people, they also saw the potentials of Bitcoin even amidst this pandemic. That being said, I would say that the epidemic had and still is having a big impact on the lives of people and thus to Bitcoin as well. I just hope for the best, and that people will treasure and make wise decisions as they enter the crypto world.

And it should not be surprising, at that time people were afraid that what we were seeing could put civilization at risk, even if the pandemic was bad and millions of people died the potential for the virus at the time was completely unknown and there was a possibility that it was way worse than what it actually ended up happening, so the markets in general were very nervous but it was natural that the crash happened and then as soon as it was obvious things will not be nearly as bad as what the markets thought the price grew up really fast.

may be useful for everyone during the pandemic, because our activities are limited by the government, sometimes finding work is difficult, and most of us are laid off by companies, so the opportunity is there, only bitcoin can help our finances, I think at the beginning of the pandemic and in the middle pandemic, in my opinion, bitcoin prices are still stable, only recently has bitcoin prices dropped, I don't think it's because of the pandemic, but caused by greedy people..

If I remember correctly, when Corona started last year, Bitcoin and all of Crypto was down, really down. On 8th of March, Bitcoin was around 4k, ETH $80. Just so sad that I din't buy any Crypto during that time

But I'm still glad I was able to find good projects to invest in. ADA and MATIC, for DeFi gaming, AXS, TLM and $ANRX

aside from making money they try btc to have a currency that they can use online  because of the complicated situation that we have now .
 many benefited from btc but some are unfortunate and lost thier investment because of scam and panic selling or selling at the wrong time but the dip of the price not caused by the pandemic but pandemic did help the price rise .
it had a huge impact and its positive

I think Covid really created a big impact on bitcoin. Since many people are just on their house and restricted to go out whenever they want, they have no choice but to just scroll on their social media on most of their time. Since bitcoin's price increased very fast these past months, many people got interested to it and thought of it as an opportunity to earn some money online. It became one of the top searched words online. Now that bitcoin's price dumped these past few weeks, I don't know if this is because of the pandemic. Some people already sold their holdings to make some cash.

---

Heads up to all:
Epidemic: Infectious disease that spreads large population in very short period of time over two consecutive weeks.
Pandemic: It is an epidemic that spreads across the continent, large area etc.

---

Could not resist but to put those definition at start since everyone is just using the "Epidemic" word from the OP's title which seems irrelevant at this point of June 2021.

Did it impact bitcoin?
Well, basically it impacted the good routine streaks of people around the globe. The 9-5 job, businesses, shipping companies halted for very long period of time creating that black hole where the economy got sucked out and has put everyone in recovery mode.

Whether it is an individual or crude oil company, everyone bears the cost of pandemic.

On the other hand, these are the ways from where real money comes to our pocket (salaries, businesses etc.) which we invest in BTC or other currencies.

If that is disturbed then yes, it impacted BTC some way other.

Yesterday I had a new understanding of this issue. In the case of the epidemic, the United States has taken many measures to stimulate economic growth. The US dollar is extremely unstable. More and more people are looking for new investment methods when they come. Of people have invested in the Bitcoin market.

it is undeniable that this pandemic affects all aspects of our lives, as well as the stock market and crypto at the beginning of the pandemic. but we must not give up, and look at what has happened in the crypto market these past few months, the market is in prime condition and gives us many opportunities to make a profit. All methods including investing, trading, bounty, airdrop, staking, etc. all give great benefits.

and yes, we do have to take lessons from all of this, there must be negative and positive sides. we must be optimistic and adapt to change in order to survive. I'm happy, finally, many people are getting to know crypto and make it an alternative to earning income.

you seem to have misinterpreted about epidemics and pandemics because here there is a slight difference in meaning. epidemic refers to a radius scale that is larger than an area, but for a pandemic the specified scale has reached national and inter-country. so for this virus you better say it as a pandemic not an epidemic. and for the impact that happened here, of course, it was very big because the economy was paralyzed for several countries because of the sharp decline due to this pandemic and large countries were also affected because of this incident and what was worse the unemployment rate around the world was increasing due to the pandemic. this is what requires some companies to close due to bankruptcy, but for crypto I think it's the other way around because with this pandemic even more people are joining here, apart from the fomo of new people hoping to get a little profit by following people who have been around for a long time in crypto. although their method is less effective because they trade directly without knowing the consequences that must be taken and how crypto works but this is an increase for crypto because it is getting more and more every year because many people have followed both from long-term investments and from trading. and this is all a result of the current pandemic

wait a minute I understand what you mean but let me correct your words about "epidemic" you can use the word pandemic for this virus because it's spread out of control and not in one area only, it has spread all over the world and maybe You have to be able to distinguish the difference between an epidemic and a pandemic. For the discussion of the economy, of course, this affects everything, including here in cryptocurrencies and I think because of this pandemic the price of bitcoin has gone up, which can be seen in the past few months. and this is due to the large number of people turning to crypto for the reasons of the pandemic itself. many people are starting to glance because they think how to make assets or money without the need to leave the house and social distancing and they think here is very suitable even though the way they think that crypto is a place to find wealth instantly is wrong but many people join because they think here can make money instantly.

Bitcoin will never come up to bankruptcy since the system is anonymous and it is dealing with digital market place. Everything is through technology.

For me this pandemic add more popularity and attraction from the people around the world. As we all know the people are looking for another alternative investment apart from banks or fiat.

Good impact for popularity and awareness.