Will the cure of COVID or CBDC BOOST BITCOINs price this year 2020 - page 2.

coolcoinz

legendary

Activity: 2814

Merit: 1192

Quote from: ecnalubma on May 01, 2020, 10:29:57 AM

It is unfortunate that the pandemic strikes right before the halving but it seems Bitcoin is still unaffected much by the crisis. It could be a mix market reaction after the halving while most economies are still down. This pandemic will likely change norm in banking services, banks could potentially introduce crypto to their clients.

It was affected, especially by the restrictions imposed by the governments. We all could witness it drop side by side with the stock market.
I'd rather expect the banking system to push towards cashless transactions because they're easy to trace. Cryptocurrencies are too hard to implement into the system. It would be much cheaper to convince people that their bills are tainted by the virus and should be burned.

ecnalubma

sr. member

Activity: 1540

Merit: 420

www.Artemis.co

It is unfortunate that the pandemic strikes right before the halving but it seems Bitcoin is still unaffected much by the crisis. It could be a mix market reaction after the halving while most economies are still down. This pandemic will likely change norm in banking services, banks could potentially introduce crypto to their clients.

Sanugarid

full member

Activity: 1442

Merit: 153

★Bitvest.io★ Play Plinko or Invest!

Quote from: ?? on ??

Lets find out after the lockdown if the price will rise but as of now value of the bitcoin is rising so I think it is little effect only to the value.

it's been a week of a good run of price of bitcoin, I've been very skeptical about the halving that will occur next week I just think that it won't be the halving that we used to see back then. Maybe the because of the lockdown that caused the price to increase since people are on their home doing nothing but to look for internet stuffs like bitcoin.

Quote from: ?? on ??

Or maybe it is coincidence that covid19 will happen and the crypto are dumping but don't worry about bitcoin because even there is no covid19 or not it can rise the value or it recover itself I hope I can see again the ath price of the bitcoin this year.

CBDC is going to be a thing this 2020 most probably because of the pandemic. There are a lot of speculation towards the bitcoin price to increase before halving but i don't see it crossing at $14k for now, after halving it will surely dump so hard we may see it below the price resistance we've got last March, maybe in $3K to 3.5K. But I have a strong feeling that the bitcoin will reach another ATH before the 2020 ends, hopefully.

oleg8791

newbie

Activity: 48

Merit: 0

Inventing vaccine and possible or even future Bitcoin price surge aren't related events. Will launching CBDCs provoke Bitcoin bull run? I have no idea. CBDC can be considered as cash replacement only. So there is no relation either.

LogitechMouse

legendary

Activity: 2576

Merit: 1043

Need A Campaign Manager? | Contact Little_Mouse

You are comparing 2 thing that doesn't have any relation. Maybe you are saying this because you saw Bitcoin went down too when the global stock market went down.

The global economy's effect is different from the effect from crypto and we saw already that after that huge drop, the crypto market is slowly rising up and we saw it already days ago when Bitcoin went up to $9400. Having a cure on COVID19 will not have that much effect on the price of Bitcoin in my opinion because both of them have no relation at all. Maybe some of the countries will focus first on recovering their economy before focusing on other things unless they will use crypto to boost their economy.

rexxarofmoknathal

sr. member

Activity: 980

Merit: 260

I think its difficult to day whether curing these disease will lead to BTC price rise, and the reason I'm saying this is because first as of now we're no way near finding a cure even with collaborations at their fullest we expect a cure in early next year, at the earliest. Second is the economic damage taken as a world and how the recessions will impact buying power - its all economics really.

But the short answer is that it is unlikely curing of these disease will cause a boom in BTC, at least directly anyway but it may have a non-causative link.

maydna

hero member

Activity: 2912

Merit: 556

Enterapp Pre-Sale Live - bit.ly/3UrMCWI

We will see many speculations out there about what will happen with bitcoin price, but we don't the truth because prediction will be predictions. It could be a help for bitcoin to boost the price to increase to the highest price or not but one thing that we know that bitcoin price already breaks $7k-$8k and even the price break $9k although right now, bitcoin price still trying to lift the price to break $9k again. Today, the price seems not moves to any low or high price, and it still stays at $8,700-$8,800 level so we might see something in the next weeks.

Approaching the halving, I think the price moves to any price level and that can make us feel confused to determine the good time to enter the market. So we need to be more careful if we want to try to make a profit, and if we think that it is difficult to analyze the market movement, it is better we only watch the market without doing anything.

maxreish

sr. member

Activity: 1330

Merit: 326

Many investors pulled out their crypto investments from the start of the covid crisis. That maybe a reason for the serious dump we had experienced. But did we forget that crypto market is indeed a volatile market? That means the recent pump is just normal and not because they developed a cure or vaccine for covid virus.

I believe it's a preparation for upcoming event this May, so its a correction first before bull run.

Debonaire217

sr. member

Activity: 644

Merit: 364

In Code We Trust

I don't think there is a concrete relationship of plans from government to associate bitcoin and cryptocurrency to their economic plans after this crisis. Well, they might have before, as a part of precautionary measures to lessen the impact of virus spreading fast through physical fiat money, but doing this after the crisis isn't really a big help to solve the COVID problem but a good start and beginning because it shows an indication of learning how good digital or cryptocurrency is, during times like this. IMO, bitcoin's price will not directly increase after this, as we need to focus on refreshing our resources and economy, I do believe that bitcoin halving after 10 days has a higher chance to impact bitcoin's price.

Baofeng

legendary

Activity: 2576

Merit: 1655

Quote from: BrewMaster on April 28, 2020, 10:58:20 AM

Quote from: Lucius on April 28, 2020, 09:21:45 AM

it is very likely due to the influence of warm weather, which suggests that with the arrival of winter the virus may become much more active again.

warm weather may help a tiny bit but there is no evidence of it being able to reduce the effects of this virus yet. the only reason why the situation is improving in any area is first and foremost because people are more aware now and they are following the basic guidelines to stop the spread of it (wearing masks, social distancing,...).

Yes, but in any case, there is this what health officials are calling 'second wave', and the thing is it could be worst than the first one.

Quote from: NicosUK on April 28, 2020, 08:03:14 AM

its been stated now, that during April, if BITCOIN can remain above $7700, we are looking at $8500 as the next stop.

Next stop is is $9k now, we are in in the bullish zone.

Quote from: NicosUK on April 28, 2020, 08:03:14 AM

If countries slowly eliminate COVID completely, will it help boost bitcoins price even further or serve to deter bitcoin from increasing?. This is when the governments have no more COVID to worry about and focus on rejuvenating their economy. They would start implementing their own CBDC and digital currency like China probably this year as well. Will this be the true cause of the fall of bitcoin, or will bitcoin and crypto be integrated into their banking system?

It's easier said than done, we haven't found a vaccine and yet the second wave is happening. Definitely, government are looking for CBDC as options, if it can boost contactless payment system around the world then definitely it will have a positive impact.

pixie85

hero member

Activity: 2184

Merit: 531

I don't think that it was Covid that made it fall in the first place. It was rather that border shutdown by the US and the EU followed by a stock market crash that started a panic on Bitcoin.

It's all fine though. Many people have pointed out that Bitcoin remained strong and recovered faster than stocks which shows that it could become untethered from traditional markets pretty much like gold already is.

I don't think that it's news about the cure that are making it pump right now. To me it's more about the halving.

Oilacris

hero member

Activity: 2996

Merit: 609

Quote from: Taskford on April 29, 2020, 02:47:36 AM

Quote from: dothebeats on April 28, 2020, 02:04:02 PM

The cure to COVID-19 would not spark interest in bitcoin but rather on pharmaceutical companies behind the concoction/vaccine. For months we have been telling here in this very forum that it's not only bitcoin that is affected by the pandemic but rather the whole economic scene of the world. Also, even if the world gets COVID-free before 2020 ends, most of the countries would be busy rebuilding their fragile economies and repaying debts that they used to combat the virus and by giving aid to the public. Someone has to pay that debt, and it's certain that the repairs for the economy would focus more on the domestic and international affairs and bitcoin would just sit in the corner because that is the least of the priorities of people by then.

Will not spark the bitcoins interest since bitcoin is not been advertise to used when pandemic hit us badly but the recovery of the economy will bring an impact to all together with the bitcoins since many the old crypto users will hold back again nor fill their wallets to take another venture in cryptocurrencies. And this will be separate on rebuilding the economy since it's government job to do those things, but for individual citizen's for sure they will start to find profits from their online ventures and businesses.

When everything goes back to normal then theres no doubt that people would really go back into their traditional or normal lives which includes on considering to invest once again.
It might not be pertaining or directly talking about crypto investment but theres a possibility.Lets not focus though on what would be the price yet the most important thing
now is that we do need the vaccinne to end all of this current problem we are facing now.

Quote from: Taskford on April 29, 2020, 02:47:36 AM

Quote from: ?? on ??

Do you think these are related things? I doubt it.

Not related, but possibly it can bring impact when everyone is stable.

No one can precisely point out if this can do have any correlations or not but basing up on whats the current economic situation then we can presume that it can possible happen.

DarkDays

legendary

Activity: 2030

Merit: 1189

I think that when the traditional economy begins recovering, Bitcoin will either recover with it slowly, or experience meteoric growth.

It's unlikely that it will enter a bearish trend when the economy lights up with enthusiasm and investment. Whatever happens, I do believe Bitcoin will grow over the next 6 months to a year, regardless whether the traditional economy begins to show signs of recovery.

rodskee

full member

Activity: 2520

Merit: 204

Quote from: BitcoinsGreat on April 28, 2020, 08:13:18 AM

Quote from: NicosUK on April 28, 2020, 08:03:14 AM

its been stated now, that during April, if BITCOIN can remain above $7700, we are looking at $8500 as the next stop. If countries slowly eliminate COVID completely, will it help boost bitcoins price even further or serve to deter bitcoin from increasing?. This is when the governments have no more COVID to worry about and focus on rejuvenating their economy. They would start implementing their own CBDC and digital currency like China probably this year as well. Will this be the true cause of the fall of bitcoin, or will bitcoin and crypto be integrated into their banking system?

First of all there is no link between covid and bitcoin prices. So if you have such a believe then you are wrong.
If bitcoin close below 7600$ today (28.04.2020) , then bitcoin might move towards 7200$. MACD and RSI are also turning bearish and volume is decreasing too.
Remember 6600$ is a strong support and 7800$ is a big resistance.

I believe we have different looks into the future price because what i think
is Bitcoin will sure grow after
the cure of COVID-19 been found.
Remember that all of this starts because of this virus and not from anything else,Investors
had been afraid of the situation thats why they withdraw their currencies and this effect the whole market
prices.
so telling that there will be no effect?that is falsely comment and look what will happen if this happen mid this year.

acdc

sr. member

Activity: 939

Merit: 256

Quote from: Jating on April 28, 2020, 08:53:28 AM

Quote from: NicosUK on April 28, 2020, 08:03:14 AM

its been stated now, that during April, if BITCOIN can remain above $7700, we are looking at $8500 as the next stop. If countries slowly eliminate COVID completely, will it help boost bitcoins price even further or serve to deter bitcoin from increasing?. This is when the governments have no more COVID to worry about and focus on rejuvenating their economy. They would start implementing their own CBDC and digital currency like China probably this year as well. Will this be the true cause of the fall of bitcoin, or will bitcoin and crypto be integrated into their banking system?

Even prior to the Covid-19 pandemic, China have plans already to roll out their CBDC,

I think it is very difficult for a government currency to be managed by the central bank to achieve success. People come to the cryptocurrency market because it's free, no one wants to be governed by an authoritarian government.

Sendoku

newbie

Activity: 52

Merit: 0

Quote from: NicosUK on April 28, 2020, 08:03:14 AM

its been stated now, that during April, if BITCOIN can remain above $7700, we are looking at $8500 as the next stop. If countries slowly eliminate COVID completely, will it help boost bitcoins price even further or serve to deter bitcoin from increasing?. This is when the governments have no more COVID to worry about and focus on rejuvenating their economy. They would start implementing their own CBDC and digital currency like China probably this year as well. Will this be the true cause of the fall of bitcoin, or will bitcoin and crypto be integrated into their banking system?

There is small to none evidence of the direct correlation between the virus and the price. Covid will infuence overall economic situation though, and we still don't know in which way it will affect BTC

pooya87

legendary

Activity: 3472

Merit: 10611

Quote from: nutildah on April 28, 2020, 09:29:59 AM

Don't know how you can keep saying that. Its simply not true. It was at one point, but its not anymore. Wall Street deleveraged and sold off their holdings at the beginning of the stock market crash -- BTC was the first to plummet as they consider it to be the highest risk investment they could possibly make. Since that happened, BTC has moved more on its own and recovered better than the rest of the stock market, but that doesn't make it an independent market.

it actually happened AFTER the other markets dumped. Wall Street started stealthy pulling out of all other markets and as S&P, NASDAQ, GOLD and even Oil started showing the increased sell volume around 13-14 Feb bitcoin was still rising. then the dump in all those markets became apparent from 14 to 20 and that is when bitcoin started coming down too. then the massive bulk of the dump in other markets was at the beginning of March and that is when bitcoin guys panicked and started following the rest with a gigantic dump.

Taskford

hero member

Activity: 2520

Merit: 783

Quote from: dothebeats on April 28, 2020, 02:04:02 PM

The cure to COVID-19 would not spark interest in bitcoin but rather on pharmaceutical companies behind the concoction/vaccine. For months we have been telling here in this very forum that it's not only bitcoin that is affected by the pandemic but rather the whole economic scene of the world. Also, even if the world gets COVID-free before 2020 ends, most of the countries would be busy rebuilding their fragile economies and repaying debts that they used to combat the virus and by giving aid to the public. Someone has to pay that debt, and it's certain that the repairs for the economy would focus more on the domestic and international affairs and bitcoin would just sit in the corner because that is the least of the priorities of people by then.

Will not spark the bitcoins interest since bitcoin is not been advertise to used when pandemic hit us badly but the recovery of the economy will bring an impact to all together with the bitcoins since many the old crypto users will hold back again nor fill their wallets to take another venture in cryptocurrencies. And this will be separate on rebuilding the economy since it's government job to do those things, but for individual citizen's for sure they will start to find profits from their online ventures and businesses.

Quote from: ?? on ??

Do you think these are related things? I doubt it.

Not related, but possibly it can bring impact when everyone is stable.

Youghoor

sr. member

Activity: 1036

Merit: 275

It will do more good than just boosting the price of bitcoin. Business will kick into motion, economic productivity will be on the rise and investors will be directing funds into this industry once again. The cure will definitely boost all markets including stocks, commodities, crypto etc.

dothebeats

legendary

Activity: 3542

Merit: 1352

Cashback 15%

The cure to COVID-19 would not spark interest in bitcoin but rather on pharmaceutical companies behind the concoction/vaccine. For months we have been telling here in this very forum that it's not only bitcoin that is affected by the pandemic but rather the whole economic scene of the world. Also, even if the world gets COVID-free before 2020 ends, most of the countries would be busy rebuilding their fragile economies and repaying debts that they used to combat the virus and by giving aid to the public. Someone has to pay that debt, and it's certain that the repairs for the economy would focus more on the domestic and international affairs and bitcoin would just sit in the corner because that is the least of the priorities of people by then.

Topic: Will the cure of COVID or CBDC BOOST BITCOINs price this year 2020 - page 2. (Read 643 times)