Topic: The Impact of COVID-19 on the Global Economy and the Role of Cryptocurrencies as (Read 160 times)

When Covid 19 took place, indeed the world economy at that time was very bad for some people. The epidemic that hit at that time forced everyone to limit their activities, causing companies, factories, schools, hospitals and even places of worship to be closed or the number of people reduced. That is what causes many people to be laid off from their workplaces. And the impact all of that has on people varies greatly. There are those who find it very difficult, because they only have a little savings. There are also those who are normal, because they had enough savings when Covid 19 hit.
So it's true that Covid 19 has caused many people to suffer, but for people who don't have a lot of savings. And for rich people it has the same impact, but they can overcome it by having large savings.

I agree with your opinion, but not all crypto, only bitcoin I agree. Because apart from bitcoin, I really doubt it, because other cryptos or altcoins have unstable price volatility. There have been many examples of altcoins that have collapsed and not risen again. So I don't recommend crypto other than bitcoin.

Isn't it late to discussed though? and if I'm not mistaken, they have been debated many times in his community. If ever there is a global problem right now, it's the war in Europe and then the inflation that every country is facing, and more recently, it's the banking crisis.

Specially the latter, it seems that crypto is again being look at a store of value, hedge against inflation and obviously we want to preserved our money, without the value going down. And recently, we have another bank in near collapse, billions worth of money being withdrawn and we can only make the conclusions that those who are getting their money out is putting it to bitcoin and other cryptocurrencies.

https://www.reuters.com/business/finance/us-officials-lead-urgent-rescue-talks-first-republic-sources-2023-04-28/

When it comes to trust, I personally still really believe in the cryptocurrency assets that I currently own. But as for store-of-value assets, I also still believe in gold apart from believing in cryptocurrencies like Bitcoin along with several other stablecoins now.

This means that the potential solution that you are referring to is absolutely not wrong in my opinion even though I have a slightly different version of keeping my own asset value, because this also really depends on the beliefs of each individual although everyone needs to see better and more assets much in demand by everyone in this world today. So such an idea is not so bad to believe in and also run on the belief from each other's heart.

I think many countries have move on away from whatever the effect cause by pandemic and I didn't see it affecting cryptocurrency. In the pandemic year was a bull for bitcoin from low as $4000 , so what are you saying? The solution is not cryptocurrency investment because you need long time waiting for investment profit and don't expect it soon. The solution is to invest in places you can expect profit, if cryptocurrency is the place comfortable you need to do it wisely. Diversification is solution to grow the resources that you have not just in bitcoin.

The Covid-19 pandemic has had a significant impact on various factors, sectors and aspects, one of which is the global economy and society, the large shock that was generated by yesterday's pidemic on the global economy and society caused a significant decline and because of the many factors that affected the economy, Cryptocurrency also came along. affect it. many people who lost their jobs from where they worked were caused by the pandemic that occurred and caused them to fail economically during that time.

Great COVID-19 topics are back, starting to miss the 2020 era.

The best solution is to diversify the investment portfolio so that there is more than one asset that is not linked to each other, such as investing in gold, stocks, real estate, bitcoin, silver, precious metals, US treasury returns, foreign currencies and any type of investment that generates income and is not related to the things mentioned above.


Bitcoin is a great investment if you know how to divide your investment, in addition to avoiding heavy investment in altcoins.

thank you very much for the Valid points you listed, The excess printing of Paper money is a biggger threat of inflation than government aids to businesses.

We've been doing that even before the pandemic hits but we do understand that cryptos are highly volatile and those that can attain to invest on it, do invest.

Bitcoin for me is the safe haven of investing in cryptos. Since there are too many cryptos, you get to choose what you think is the safe haven for you. Many will do agree that Bitcoin is the safest to invest in crypto but there will be a lot too that will disagree.

I believe that corona virus & all the restrictions that were put on the world definitely negatively impacted the price.  We were due to go a lot higher than 69k per coin imo but the desperation & uncertainty due to corona virus watered down the bull run. I think we will make up for lost time & go much higher in the next bull cycle (2024 & 2025).

Crypto but bitcoin specifically is a great investment. Buying now is a great idea, you will make 5 or 6 x your money if you were to sell at the highs in 2025. Look to hold long term though because you will make ROI that is near impossible in other assets.

At the beginning of the pandemic, cryptocurrency prices fell below 50%, which helped market manipulators buy profitably before the pump. What is the point of this discussion now?
Any investment in cryptocurrency is associated with many risks, so you should not look for salvation from all events in the world in cryptocurrencies.

To be honest, I don’t think the COVID-19 pandemic has impacted much on the crypto industry. I honestly think that COVID had nothing to do with crypto. Of course, the global economy and stocks have plummeted because of so many lockdown restrictions in every country in the world.

Instead of crypto plunging, it goes the other way around where it finally broke the then-all time high of almost $20k and up to $30k. Then here comes Elon Musk and the DOGE craze where it pumped up to an all-time high of around $68k+ last 2021, in which I have failed to capitalize the opportunity of buying BTC earlier.

Fast forward to today, it seems that the world is slowly moving on from COVID-19 because the global economy starts to recover once again. Travels and mass gatherings resume, businesses are operating in full capacity, face to face classes, etc.

Covid 19 pandemic actually had its significant impact on the economy but currently they have been countries that have scale through this crisis and right now the major cause to worry about is the inflation that continues to rise and if this persist it would lead to an economic crisis which might be have a major impact than Covid 19. Government has risen the the interest rates also to curtail this but would this be the lasting solution I doubt.
Another threat to economic crisis is the war between countries like Russia and Ukraine which has affect the energy supply as the European countries placed restrictions on Russia.

The major concern for currency devaluations is the excess paper printing of them.


Yes investing into bitcoin can actually provide solutions to the crisis of inflation as it persists. Currently with the on going rise bitcoin has the ability to edge against just like assets like gold. But aside bitcoin the other Alticoins are not advisable because of the pump and dump scheme most of them exhibit. Not saying bitcoin is not volatile but at least a longer term holding can help to curtail its. Also it is better to diversify one’s portfolio within different assets but do not invest in multiple Alticoins as diversification of portfolios. Real estate and other stores of value will be better

Cryptocurrencies have had a major impact on cryptocurrencies due to the Corona virus, but currently cryptocurrencies have been able to recover somewhat from that impact. Due to the coronavirus, the global economy including cryptocurrencies had a huge impact and strict measures like lock down were taken all over the world, resulting in a huge negative impact on the global economy.
There are several political, economic and social issues in the cryptocurrency market including Bitcoin that can have a huge impact on the market, the current military war between Ukraine and Russia is having a huge impact on the economy. On the one hand, conflicting relations between Russia and the rest of the world are being created, and on the other hand, if the business relations of other countries with Russia are deteriorating, the global economy will be greatly affected.
It is not possible to say with certainty how much of these problems can be avoided by investing in Bitcoin. But in terms of my country, investing in bitcoins can certainly be a little bit immune to the effects of inflation in my country. But of course I will say one thing that Bitcoin is a virtual currency over which no individual, central bank, government system, and no global organization has control. Bitcoin has been legalized by the government of various countries, especially Salvador, as well as providing education on Bitcoin for the citizens of that country.  Investors from different countries of the world are now giving importance to investing in Bitcoin than keeping money in the bank. Because Bitcoin wants to make people free.

You should move your post:
Economic
Politics & Society

That has all passed and is no longer relevant for us to discuss because now, after the pandemic is over, people have learned to get out of economic problems. It still makes an impression on people's memories that the Pandemic has destroyed all sectors and many people have lost a decent life in the ongoing Pandemic process.

But we are grateful that we have gone through it all and today we are struggling to recover the economy, both starting from individuals and government programs that support the smooth running of the aftermath of the pandemic.

I believe bitcoin as a reliable safe haven asset but not fully convinced cryptocurrency can provide much more than bitcoin. The advantages of bitcoin are clearly being able to store value and we have seen that during the Pandemic, so the best choice is to hold bitcoin not cryptocurreny.

Okay, So let's start with the impact of the COVID-19 pandemic on the global economy.    The pandemic has caused unprecedented disruptions to businesses and supply chains around the world, leading to widespread unemployment and economic contraction. In response, governments around the world have implemented massive stimulus packages to support individuals and businesses, which have led to concerns about inflation and currency devaluation.

one potential solution that has been suggested by some is investing in Bitcoin and other cryptocurrencies as a hedge against inflation and a store of value in uncertain times like this. What do you think about this idea? Do you believe that cryptocurrencies are a reliable safe haven asset?