Does the epidemic have a big impact on Bitcoin? - page 6.

tranthidung

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Quote from: leea-1334 on June 08, 2021, 10:02:29 AM

Like I said,,, people have no jobs and no money, anything they can get they are spending on food and even earning second incomes and third incomes to pay for bills. It is not that they do not want to save in Bitcoin it is about not even having money to save and even eating their current savings already. So no, I cannot see how pandemic is good for poor people to buy BTC.

The pandemic has impact on Bitcoin but it does not give the poor chances to get rich. They have many other things to solve every day and with them, investment is something out of hands.

Firstly, the pandemic brings more QEs from big nations that in turn help people are more aware of the instinct (hyper)inflation of fiat currencies. They are more attracted to the fixed supply of Bitcoin.

Secondly, the halving in May 2020 comes in time, 2 months after the pandemic announcement from World Health Organization. It hep to amplify the impacts from the pandemic.

Lastly, the massive participation of institutes and their investments amplify Bitcoin more among the crowd.

Together, those factors contribute to the mini bull run for Bitcoin.

leea-1334

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Quote from: Sled on June 07, 2021, 09:49:43 AM

Quote from: leea-1334 on June 07, 2021, 09:08:32 AM

But in third world countries or even like in my own, people are not earning in pandemic and have no salaries. How to buy Bitcoin?

They are living at home and trying to do 2nd or even 3rd jobs now.

Some are very unfortunate and many had lost their job during this pandemic. I understand the situation that these people in the 3rd world country (from where I belong) had missed this chance. yeah, they become hopeless every day, and investing in Bitcoin is neither their priority. That is sometimes I think that crypto investment makes rich people become richer and poor people remain poor because of losing an opportunity.

Like I said,,, people have no jobs and no money, anything they can get they are spending on food and even earning second incomes and third incomes to pay for bills. It is not that they do not want to save in Bitcoin it is about not even having money to save and even eating their current savings already. So no, I cannot see how pandemic is good for poor people to buy BTC.

Chato1977

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Quote from: Obito on June 03, 2021, 05:40:47 AM

Well, if you are talking about the Corona Virus, I have to correct you that it isn't an epidemic but a pandemic, there's a big difference between the two. To answer your question assuming that you change epidemic to pandenic, I think the pandemic affected the market big time, people are more online because everyone is on a lockdown so people have more time to spend online.

So what helps the market in Positive or negative way?

for me it is >>>>>

Negative - because the market drops high in 2020 march when the pandemic was start spreading every part of the world.

Positive - because the people around the world turns to online and that helps the crypto make its ATH over and over agian.

Joshua01

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Regarding the epidemic, everyone is playing mobile phones at home, and understands that Bitcoin has also increased during the epidemic. But the epidemic still has little impact on Bitcoin itself.

ARTURVHt

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My mission is that the impact of the epidemic on the Bitcoin market is not great. Because it mainly uses electronic equipment, everyone can trade and develop at home instead of face-to-face communication.

posi

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Does the pandemic have a big impact on Bitcoin? Yes, it does showcase Bitcoin to the world during the total lockdown caused by the pandemic when some business owner look for another alternative to transaction instead of receiving payment through fiat currency which could be possibly be infected with the virus. However, fiat currency show no interest while Bitcoin is doing very well in the market and alot of institution investors sees it as saviour. Despite the positive impact of the pandemic it also has to impact Bitcoin negatively which is quite normal.

Xinarae*

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Bitcoin has survived the epidemic from the beginning and its price is getting stronger which is the most important thing. The epidemic will not have any effect on bitcoin but rather has increased the demand for bitcoin most people are leaning towards crypto to overcome the epidemic crisis new companies and new investors are being added to the crypto market so even if the price of bitcoin goes down its price will gradually increase. Besides everything bitcoin fans will not stop trading it there are many people who love bitcoin they raise the price.

indo1

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So far it's not very big, because the rise of regular bitcoins is accompanied by good news, but we never see that bitcoin being the solution to this pandemic is news. Although we as a bitcoin community feel very helped by the existence of bitcoin during the pandemic, but it has not been felt by everyone. I hope the government thinks about this.

GreatArkansas

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It seems most of here are celebrating and thankful because of the pandemic why we got a big good impact on Bitcoin.
We should also think on the other side, what if this pandemic will be over? Like the Covid19 will start to vanish, what will be the Bitcoin situation then? It will go back to below $10,000?

acener

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If it's Covid-19 then yes for me it has a huge impact on Bitcoin,
For me it gave a huge boost to cryptocurrency because of the pandemic many people joined crypto to earn so yes it made a huge impact it brought new and fresh investor's in the market.

molsewid

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Quote from: speedy963 on June 06, 2021, 08:19:24 AM

I honestly am thinking quite the opposite of what you are saying. Because as the pandemic started affecting millions making them lose jobs, redusing roi or even making losses, most of these people has turned into this industry. This is because of fomo and the fear of losing more than they already have lost. As we know, beginners tend to think that this is a get rich quick industry. Hence, more people started to invest money.

I honestly thinking the opposite way of what OP was said. I've been participating actively in crypto related works, accessing cmc and checking the real-time update about the market flow of crypto for not quite long but what I have observed was the market of bitcoin really doing great when the pandemic starts and when the economic crises rises. It is devastating that we have faced such kind of pandemic but it seems that it bring a positive impact to crypto market or in bitcoin. For me this pandemic made a big impact on bitcoin.

PIR

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I think this pandemic has a big effect on bitcoin if not why the market is down, given that it is true that them price value of bitcoin is not always steady, there is somehow effect because of the increase of the demand and the operation also is affected due to its global condition.

kawetsriyanto

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This pandemic really influences so many factors. But, did you know, when this pandemic accruing until right now, in fact, the price of Bitcoin was increasing at that time.
the fallen price of Bitcoin is not because of this pandemic where the people are selling to fulfill their daily needs because most of them are jobless or lose their finances.
However, it is more to the negative issues that happened in several countries and also some people who spread it.
We all know that people can still withdraw crypto to fiat without selling the Bitcoin asset but more to the profits that have been gained.

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Epidemic is defined as the disease affected within specific community/region.

Pandemic is the disease affected within communities and are widespread around different countries of the world. Covid-19 is pandemic.

Positive effects of pandemic on Bitcoin

Helped with massive adoption.
Increased awareness about cryptocurrencies.
Made more people move into cryptocurrency from stocks trading.
Trading volume on every country have reached the peak.
People have started to believe in it, because earlier it is always talked related to illegal activities.

Yatsan

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At the first phase of the widespread of the corona virus after being stated as a pandemic, markets have suffered into a big declination due to panic which includes both stock and crypto market. Bitcoin have been affected real hard at the start of pandemic that drags it down into the bottom price of more or less $5,000 but the good thing have happened at the early days of June 2020 wherein it is slowly regaining from the loss. While the stock market is still suffering at that point, Bitcoin and other cryptocurrency are moving up due to massive adaptation of people getting into crypto and transfer of funds to save their money from stock market to crypto market. The pandemic have brought both declination as well as progression on Bitcoin if we will conclude.

Sled

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Quote from: leea-1334 on June 07, 2021, 09:08:32 AM

Quote from: AniviaBtc on June 07, 2021, 01:08:37 AM

This pandemic greatly contributes to the adoption of cryptocurrencies in many countries especially in a third-world country.

People are hoping for something profitable and they found out that bitcoin can be a good thing to fight inflation that's why.

Covid-19 gives way to those people who want to enlighten themselves in terms of investment but the best part is that it is in digital aspects.

Is that really true? I do not really see how pandemic helps that because yes,,, people were buying more bitcoin because of inflation, using their salaries to get more I can believe this.

But in third world countries or even like in my own, people are not earning in pandemic and have no salaries. How to buy Bitcoin?

They are living at home and trying to do 2nd or even 3rd jobs now.

Some are very unfortunate and many had lost their job during this pandemic. I understand the situation that these people in the 3rd world country (from where I belong) had missed this chance. yeah, they become hopeless every day, and investing in Bitcoin is neither their priority. That is sometimes I think that crypto investment makes rich people become richer and poor people remain poor because of losing an opportunity.

leea-1334

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Quote from: AniviaBtc on June 07, 2021, 01:08:37 AM

This pandemic greatly contributes to the adoption of cryptocurrencies in many countries especially in a third-world country.

People are hoping for something profitable and they found out that bitcoin can be a good thing to fight inflation that's why.

Covid-19 gives way to those people who want to enlighten themselves in terms of investment but the best part is that it is in digital aspects.

Is that really true? I do not really see how pandemic helps that because yes,,, people were buying more bitcoin because of inflation, using their salaries to get more I can believe this.

But in third world countries or even like in my own, people are not earning in pandemic and have no salaries. How to buy Bitcoin?

They are living at home and trying to do 2nd or even 3rd jobs now.

Shasha80

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Quote from: Freezingel on June 06, 2021, 09:16:59 AM

Yes it will surely have a big impact, since the economic situation worsen, then the financial condition of many people got worse as well. Many people use bitcoin as investment, and when their financial is in danger, and they have nothing else they might be forced to sell bitcoin to keep surviving. If many people selling it then of course the price will fall. However, it won't last that long. People will have to think long term, and they might have to start investing again, maybe in bitcoin since the profit is quite high, so they can have extra money in case any emergency happens. That's why bitcoin can still stay strong, many people are selling it, yes, but still there are a lot of other people who want to buy bitcoin and hold them.

The pandemic has indeed made the world economy worse, and this has affected the population as well as most of them experiencing a financial crisis.
Therefore, many people start to think about being able to find ways to save the wealth they have, and on the other hand looking for a source of income
in the current situation. Finally, Bitcoin emerged as the best way to solve economic problems, in addition to investing in Bitcoin can make the money
we have avoid inflation. Investing in Bitcoin can also generate huge profits, we can see the performance of Bitcoin since the pandemic occurred until
now showing an increasing performance. This has become strong evidence that investing in Bitcoin can save the economy of many people.

AniviaBtc

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This pandemic greatly contributes to the adoption of cryptocurrencies in many countries especially in a third-world country.

People are hoping for something profitable and they found out that bitcoin can be a good thing to fight inflation that's why.

Covid-19 gives way to those people who want to enlighten themselves in terms of investment but the best part is that it is in digital aspects.

kojektea

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It should have had a huge impact, but in reality it didn't. We don't see any bitcoin hype because of the corona virus. I thought, maybe the government doesn't really care about finances in this pandemic period, just fighting with viruses, vaccines, etc. The worst impact, meanwhile, is that many people lose their jobs and they live a disrupted life. But bitcoin impacted my life while my pandemic was still able to produce.

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