Topic: Does the epidemic have a big impact on Bitcoin? - page 7. (Read 1288 times)
In the long run, the return of the economy to normal will eliminate the need for more Stimulus Checks, which is an economic strategy provided by governments around the world to support small businesses and the unemployed. It is generally believed that printing more currency as a rescue plan will lead to inflation, which is very detrimental to legal tender, but is more favorable to Bitcoin and digital currency.
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.
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.
Anything happen in the world may impact on bitcoin market. Sometimes if there is good things that happen in the world it can make bitcoin price rise or fall or if there is something bad happen then it also can make bitcoin price fall or rise. For example, this pandemic is bad for the world economy but it become good sentiments for bitcoin because people now looking at cashless payment method that keep them healthy and stay away from virus. In my point of view, everything that happen in the world will give positive impact on bitcoin only if it make people looking for bitcoin, whether it as an escape from the situation or follow trend or etc. But I am not an expert and maybe I am wrong, but atleast that is what I see during few years investing in cryptocurrency.
In the global recession, nothing is safe. When economic activity is at its lowest point, people are in desperate need of money. In this state, it is not surprising that the price of Bitcoin has fallen.
In fact, if there is Bitcoin, many people will sell it. This is to be expected. Bitcoin's value will inevitably fall like stocks. Bitcoin's market is not absolutely independent of what is happening in the world. This is obvious.
But Bitcoin will not go bankrupt, it will not happen. The company may go bankrupt, and even the country may fall into a debt crisis. But Bitcoin will not reach that state. Bitcoin will eventually rebound
why?
In fact, if there is Bitcoin, many people will sell it. This is to be expected. Bitcoin's value will inevitably fall like stocks. Bitcoin's market is not absolutely independent of what is happening in the world. This is obvious.
But Bitcoin will not go bankrupt, it will not happen. The company may go bankrupt, and even the country may fall into a debt crisis. But Bitcoin will not reach that state. Bitcoin will eventually rebound
why?
Your claims about BTC being heavily affected by the pandemic which causes massive dips on BTC might not be the reason at all but only a fraction of it. Actually, there are no massive dips that happen last year until the recent cases which involve Elon Musk and China's banned on BTC mining. So I don't BTC has fallen due to pandemics. In fact, it even reaches another milestone which is new ATH and it seems pandemic has no direct affect on BTC's market at all
In the global recession, nothing is safe. When economic activity is at its lowest point, people are in desperate need of money. In this state, it is not surprising that the price of Bitcoin has fallen.
In fact, if there is Bitcoin, many people will sell it. This is to be expected. Bitcoin's value will inevitably fall like stocks. Bitcoin's market is not absolutely independent of what is happening in the world. This is obvious.
But Bitcoin will not go bankrupt, it will not happen. The company may go bankrupt, and even the country may fall into a debt crisis. But Bitcoin will not reach that state. Bitcoin will eventually rebound
why?
hello sir, yes right now everyone really needs money with the current situation or rather the covid 19 virus which hampers the activities and finances of the country, there is a lot of speculation that destroys bitcoin so bitcoin falls because there are a lot of FUD and many people panic to sell it, indeed state finances are currently weak but not with bitcoin, bitcoin will only weaken when many FUD threatens In fact, if there is Bitcoin, many people will sell it. This is to be expected. Bitcoin's value will inevitably fall like stocks. Bitcoin's market is not absolutely independent of what is happening in the world. This is obvious.
But Bitcoin will not go bankrupt, it will not happen. The company may go bankrupt, and even the country may fall into a debt crisis. But Bitcoin will not reach that state. Bitcoin will eventually rebound
why?
When the pandemic started, crypto and stocks market dumped but after that all this market rebound and continue bullish and ATH. I think this happen because amillion people quit from the office job and they only can work at home, and they chooce spot online trading. So that more new investor come in in to crypto and stocks markets that the trigger market to bullish.
what you say can certainly be true and reasonable but it can also not guarantee that it can be true. because in a pandemic situation where many have to work at home and there are also layoffs, of course logically they will have more time to work on crypto, but how many of those who do work at home or are fired are already familiar with crypto alone. if you don't know, of course there will be no significant additions from users, but is it possible that those who are in financial difficulties want to do crypto trading, which obviously must have experience because it is possible that the severance money will actually be lost in crypto trading.so there is no research that determines that during a pandemic, crypto is increasing and transactions are bigger than usual, because I don't see any very significant spikes and it's just like other days. maybe those who want to know crypto are also not able to quickly do it during a pandemic where they can't meet face to face. but if there is an increase of course there will also be many projects that arise but in fact many projects have to extend the time because sales are not achieved.
When the pandemic started, crypto and stocks market dumped but after that all this market rebound and continue bullish and ATH. I think this happen because amillion people quit from the office job and they only can work at home, and they chooce spot online trading. So that more new investor come in in to crypto and stocks markets that the trigger market to bullish.
Not epidemic, it is pandemic. The covid 19 pandemic had a huge impact on bitcoin. From the onset of lockdowns caused by the rapid spread of the covid virus, many companies have laid off their workers or closed their businesses which has caused for many people to lose their jobs. And because of that, they are stay at home searching online job as an alternative to earn money. Bitcoin is one of those online job that people are now using to earn money. People recognize and accept bitcoin because of pandemic. Those who don't believe in bitcoin before the pandemic, Now they are using and investing in bitcoin.
The pandemic, as any major event, affects Bitcoin indirectly: media write about it, people feel anxious and act on emotions fast. That's how the price dropped hard in the middle of March 2020. But unlike the rest of the economy which objectively suffered and lost tons of money due to lockdowns, Bitcoin didn't get hurt by these events. So the price recovered, and now I'd say the pandemic isn't affecting Bitcoin. If something serious happens with the traditional market, people might start buying Bitcoin or selling it more actively than usual, though.
I assure you, the negative impact of the epidemic is minimal. Even in some ways positive.
More on positive, that is what I see. More people had come and appreciated Bitcoin during this pandemic time compared before. A lot of questions arise before the pandemic and its early days but for now, we can see that more people have shown their interest and even rich people are now investing in crypto.
It is to wonder that the pandemic helps people recognize Bitcoin as a form of currency, not only an investment. And this simply means that crypto adoption has come fast and more awareness happening this time.
People started relying on online payment now due to limited physical interaction, more merchants and huge e-payments companies are adapting to crypto.
I guess it effectively increases bitcoin popularity, but on the contrary, most of us are struggling, so we sell it, which also led to increased activities in crypto market. Generally, It impacted positively.
I guess it effectively increases bitcoin popularity, but on the contrary, most of us are struggling, so we sell it, which also led to increased activities in crypto market. Generally, It impacted positively.
what do you mean, epidemic or pandemic,?? if you say epidemic I don't understand at all what you mean, please correct me, I think the pandemic has a big impact on bitcoin, during the pandemic there will definitely be a lockdown, and people can't travel freely, even go to work, people just spend their free time at home , while playing the internet, and learning more seriously about bitcoin, so during the pandemic more and more people are jumping into bitcoin..
The damage that it caused to traditional financial sector is heavy but it was a really big help for bitcoin market because a lot of people tried to find another way to make money and they discovered bitcoin and they were able to make a lot of money investing in bitcoin during the pandemic. Another problem that is looming is that probably bitcoin market is going to go down after this pandemic is over because people will probably quit for the time being to resume their day jobs.
The pandemic has caused currencies in traditional economic sectors such as tourism, restaurant business, transportation, and centralized goods production to stop or reduce operations. Money flows out of those industries and into other types of investments: stocks, forex, cryptocurrencies, and metals like gold and silver. That is the main reason for Bitcoin to grow strongly from $4000 until today.
what do you mean, epidemic or pandemic,?? if you say epidemic I don't understand at all what you mean, please correct me, I think the pandemic has a big impact on bitcoin, during the pandemic there will definitely be a lockdown, and people can't travel freely, even go to work, people just spend their free time at home , while playing the internet, and learning more seriously about bitcoin, so during the pandemic more and more people are jumping into bitcoin..
It is obvious that COVID-19 will have an impact on the Bitcoin market. On March 12, 2020, U.S. stocks melted and Bitcoin plummeted by 50% in a single day. The market generally believed that Bitcoin was about to return to zero. In addition to ordinary people, many institutions even sold their Bitcoin. That day was the worst period of COVID-19. China closed the country, but the virus was still spreading overseas and it appeared to be out of control. In the face of this kind of disaster at the human level, all consensus and ideas are meaningless. After all, what is the use of the Bitcoin network after all people are dead.
But on the other hand, because of the COVID-19 outbreak, the United States had to adopt economic easing policies to promote economic recovery. Other countries have followed suit in order to prevent the depreciation of the U.S. dollar. This is the root cause of this Bitcoin bull market. A large amount of funds have entered the stock market, Bitcoin and other investment markets.
But on the other hand, because of the COVID-19 outbreak, the United States had to adopt economic easing policies to promote economic recovery. Other countries have followed suit in order to prevent the depreciation of the U.S. dollar. This is the root cause of this Bitcoin bull market. A large amount of funds have entered the stock market, Bitcoin and other investment markets.
Absolutely having a huge impact, it was a positive impact as I can see it.
The growth of its price and massively increase of its demand is due to the covid-19. As people are not allowed to go outside but mostly suggested to get online services, the more it attracts/encourages people to use Bitcoin and any digital payment options.
On the other side also, the increase of gambling sites giving away for crypto holders to make use of their Bitcoin during the pandemic. It has found to have a huge change, in our lifestyle and it is very fortunate that it gives us a comfortable life than before.
The growth of its price and massively increase of its demand is due to the covid-19. As people are not allowed to go outside but mostly suggested to get online services, the more it attracts/encourages people to use Bitcoin and any digital payment options.
On the other side also, the increase of gambling sites giving away for crypto holders to make use of their Bitcoin during the pandemic. It has found to have a huge change, in our lifestyle and it is very fortunate that it gives us a comfortable life than before.
Personally, I see absolutely nothing to do with the rise of bitcoin and the coronavirus pandemic. I can't imagine how people who have lost their jobs, instead of saving money for living, will buy bitcoins. On the contrary, they will sell bitcoins.
Maybe, you are not seeing other things here. Like the increase of number of merchants accepting crypto. A lot are avoiding the use of cash now to prevent possible infection from the virus. So these merchants are adding options like crypto payment method. Also, there are a lot of financial institutions that get involved in bitcoin during this pandemic. They saw their opportunity here and I believe a lot more are still joining this market. And remember also, during this time, Elon has been one of the popular personalities that get involved in crypto. So yes, we can say that this pandemic has significantly influence bitcoin and crypto market.
Personally, I see absolutely nothing to do with the rise of bitcoin and the coronavirus pandemic. I can't imagine how people who have lost their jobs, instead of saving money for living, will buy bitcoins. On the contrary, they will sell bitcoins.
Maybe, you are not seeing other things here. Like the increase of number of merchants accepting crypto. A lot are avoiding the use of cash now to prevent possible infection from the virus. So these merchants are adding options like crypto payment method. Also, there are a lot of financial institutions that get involved in bitcoin during this pandemic. They saw their opportunity here and I believe a lot more are still joining this market. And remember also, during this time, Elon has been one of the popular personalities that get involved in crypto. So yes, we can say that this pandemic has significantly influence bitcoin and crypto market.
No doubt, this pandemic has made everyone looking for side jobs and extra money online. or start looking for investments online. and bitcoin as an investment option that is easy, flexible, and can be accessed by anyone, my assumption this is why a lot of new holders had an impact on most of us. and also the principle of economy high demand high price proved to happen in crypto market today.
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