Will the cure of COVID or CBDC BOOST BITCOINs price this year 2020 - page 3.

LUCKMCFLY

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

~snip~

Most likely and according to some famous books like Jesse Livermore, after a stage of high panic comes the bullish stage, and more when it is from a Fundamental, the price if it will recover, ideally it would happen together with the Halving of Bitcoin It would be a very good Bullish stage, but the reality is different, it should be expected, because everything is unpredictable and more in the Bitcoin market.

ampere

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The cure to covid today will not boost bitcoin prices, instead resumption of normal life activities will help the price upwards.
Mind you, it still does not corellate with covid.

The halving is coming in few days now, and the price of bitcoin is closer to a bull than a bear.
Why not check through your TA and make a stake?

Always do your own research.

thesmallgod

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From what we have witnessed previously from the beginning of this pandemic, it seems there is no arguably correlation between the virus and the price of bitcoin. If the virus affect bitcoin, the price must have been seriously dropped by now but as you can see Bitcoin is above 7k at the moment so if there is cure, there is no evidence that it will also affect the price but certainly people will spread hoax about it.

sky_Gritzz

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Covid and BTC is really different and it don't have a connection.
BTC price down because Covid make world panic, that is not true.
if Covid is really eleminate someday i doubt if BTC will grow because that.
price of BTC grow or down that is because the trader and holder BTC.

crwth

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There are a few things to consider with this IMO. If COVID-19 goes away, there are a lot of businesses that would come back. Probably if there are people who invest in Bitcoin, there would be an impact on the BTC's price.

So imagine those people who have invested their money into BTC the past few months to learn about trading, and suddenly their life is back again, they can do things like

Get their assets back from what they invested in BTC causing to dump
Leave their BTC on exchanges, no direct effect on the price
Get their assets back and reinvest in the stock market

I don't think there is going to be a significant effect, but people are going back to their normal lives, which means they could either invest it again or not but not cause a direct impact.

BrewMaster

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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,...).

pakhitheboss

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Without any vaccine you cannot cure Corona virus and no one knows when a vaccine will release. Most vaccines are in human trial stage, which takes upto 12 to 18 months to complete. Therefore it is better to assume a cure vaccine might come out by the end of this year or early next year. Untill then follow the guidline from WHO and keep yourself safe.

Cryptocurrency market are not linked with the outside world or global economy . Therefore do not mix outside world issues with the present crypto market scenario.

Bitcoin halving is due to happen by the 11 th of May. Considering the present price of Bitcoin I expect it to reach upto 8k before halving. After halving the price will again take a dive and can reach upto 6k easily.

I think the price will hover in the range of 6k to 7k this year. I am not expecting anymore from it.

avikz

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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?

CBDCs can't be a reason for boosting bitcoin's usage or its price. The only reason can be the upcoming halving which would happen in next 14 days. Even if we don't see it happening just as yet, it will definitely work positively post the current Covid-19 situation. The liquidity in the market has to increase in order to achieve growth and with current situation it doesn't seem to be possible!

Wexnident

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Hmm it highly depends on how the economy of various countries would respond to it. After all, if a cure could be found, facilities would start returning back to normal and people would start earning money once more. However, there's a possibility that the lives of various people would be severely impacted by the virus hence even if there was a cure to be found, difficulties would still arise in adjusting to the return in the working force. I'm more to the side of the price being boosted since most traders are relatively off well and can pretty much spare the funds in investing and trading once more. It's a matter of how the population would respond to the return of their lifestyles back to normal I guess?

Kelvinid

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We are speculating the market runs that way after the COVID-19 but the question is when? We are not exactly sure that we can totally eliminate the virus this year. The fight still going on and the search for the vaccine is still far from it (it can be a year or more). But one thing I've noticed this time is that the crypto market isn't really affected by that pandemic, in fact, we can see the market recovering slowly and moving away from the bottom line and breaking the $8k resistance is a way to go.

nutildah

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Quote from: pooya87 on April 28, 2020, 09:01:16 AM

we saw the world economy crash had its effect on bitcoin but also we saw bitcoin recover while the economy continues crashing proving once again that bitcoin market is an independent market.

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.

Up until March, bitcoin had only ever known bull market conditions and everybody operated under the assumption that there was no connection between the two. On March 12th we saw exactly how much is tied to the stock market, which is, at the very least, somewhat.

Look at any sort of chart comparing say the S&P 500 and the price of BTC over the last month and a half and the correlation is undeniable. It's not 100%, but its far greater than 0.

Fact is unless Wall Street is completely out of bitcoin there will always be some correlation between stocks and BTC.

Lucius

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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?

The only way to successfully stop the spread of this virus is through an effective vaccine. Although many laboratories are working on it, it is not realistic that such a vaccine will be available this year, at least not for mass use. Although the situation in the Northern Hemisphere is improving, 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.

Bitcoin is responding to positive and negative changes in the market, but some also argue that this is the right situation to test BTC in times of great economic crisis. The problem is everyone just looking at the price, and they expect it to get bigger every day, but most don't look at other aspects of the whole situation - which is how to actually keep something alive, and these are the people, the world economies and of course BTC.

pooya87

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similar to the spread the answer is "not exactly".
bitcoin is not really taking any effects from these events in the world but at the same time we can't say it is completely isolated. we saw the world economy crash had its effect on bitcoin but also we saw bitcoin recover while the economy continues crashing proving once again that bitcoin market is an independent market.

Jating

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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, maybe the crisis just just put more pressure on them and hurriedly releasing in ahead of their schedule. So that argument is flawed already. As for the price pushing $7700, maybe the block halving has something to do with it, or whales are simply manipulating the price again, we can't really tell the reason for the sudden uptick in the last one week or so.

BitcoinsGreat

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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.

NicosUK

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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?

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