Bitcoin Forum

I was just curious to know whether the Corona outbreak can help bring people's attention towards the crypto market?
Where many countries have banned short selling too in ever falling stock market along with the oil and gold prices tanking, I am sure many would be looking for an alternative. Regarding BTC which has recently touched the bottom (atleast according to technicals) after a 60%+ fall, I guess this is the best time to bring traditional investors toward btc. People have free time to read and understand cryptos too as they are quarantined  ::). 

Many people are paying attention to bitcoin because with the fall of almost 60%, making the previous investors increasingly disappointed over the decline, but I think it is impossible because of the corona outbreak, many people are concerned about crypto because they don't think about it because they are focusing on themselves. .

Many of the causes of this corona outbreak, markets around the world have fallen, akabit outbreaks, I think only new investors will pay attention to crypto at a time like this because they want to buy lower but I think it needs definite research because if this outbreak continues then crypto is also difficult to increase.

Most probably less due to the Coronavirus but probably more because of the potential hyperinflation. The federal reserve's money printer has been going ham lately. So, probably.

EDIT: speaking of money printers, check this out: https://brrr.money/

I am really not sure how many times we are going to be discussing this topic but it is a pandemic and we cannot stop discussing about it .

Well let's think about this objectively .
Since banks are closed and people don't have any access to a currency which might help them make the overseas transfer easy , they do need help of bitcoins , cryptocurrencies are not regulated by the government and therefore it is easier in the time of crisis to send and receive cryptocurrencies .

People can also earn thought bitcoins when their jobs are all closed and government is not helping them .

I did said so, China is awakening from its lumber. Now bitcoin is starting to move away from the global economy trend...
Those who bought the cheapest bitcoins at around 5k now just need to wait and ride that wave back up.

And someone had the nerve of badmouth Snowden when he gave the correct advise to buy those cheap bitcoins...

Of course, the outbreak of krona has affected the stock market a lot, providing a strong attraction for investors towards bitcoin, as currency decline at the moment may be a reason for changing the scales towards greater investment opportunities in the crypto world, which directs attention towards bitcoin in particular and digital currencies in general.

I have never thought of this but probably specific to the people who are into investments and stocks. They might see how bitcoin performed for the past months and up to this time. As of now, it has pumped and back to $6,000.

How are you going to bring them? we don't have to bring them, they have to come on their own will.

Of course it did. In my country, public figures gave advices for people to invest in bitcoin. This dip in the price of bitcoin made it more popular cause people have made several statements about it. I'm sure that some newbies already invested. And now, I hope the price goes up ASAP so they can make their gain and tell their friends about it too.

In my country the attention of the people is not about bitcoin, and not about the money but rather they are looking for a food to eat everyday because we are on a lockdown. Bitcoin doesn’t bring a good news in my country, we can hear a lot of panic even on the stock market and only those who know bitcoin are affected. The price dump that much, the virus affect bitcoin that much but hopefully as we can see the pump as of posting this one, its not a trap but rather a small pump towards a big future.

Let's check traditional markets and see how they are doing relative to the pandemic,

https://i.imgur.com/nunk0JN.png

https://www.marketwatch.com/tools/marketsummary/indices/indices.asp?indexid=1&groupid=37

Majority of them recovered, but extremely small as compare to BTC or to the whole crypto market.

https://i.imgur.com/1vmhCEX.png

https://coinmarketcap.com/

So definitely, crypto has been taking the limelight in this crisis, although you can argue that this could be a looming manipulation, but we can't deny that people are taking notice of crypto right now.

according to the post i have read yesterday the search for Bitcoin in Google has reached the highest percentage this week meaning too many engine searches use by individuals on how or what Bitcoin is.

from that point maybe people now are getting curious on what they will use as alternative from Fiat and that is a good sign right?so yeah maybe sooner people will adopt Bitcoin when they found out how beneficial and friendly this for them.

Agree with this whole statement.
There is actually a looming manipulation happened. I mean that a huge decline coming at once with the stock market, when cryptocurrency has no direct relation with the pandemic.
On a lighter note, cryptocurrency has become more noticeable because people has enough time to read at home due to the lock down effect, like what the OP said.
The 13% Bitcoin boost might be an evidence that people are starting to engage in cryptocurrency.

I thought my country is the only who halt its stock trading.
Many stock market investor are pissed off with the idea that trading on this market are stopped, they could have sold all they have to invest in crypto right now for this is a good time to buy. Very clear for them now that what they need is a market that keeps going 24/7 which they can short whichever the situation could be.

this was actually the expectation before all these dumps began. with the world economy tanking, bitcoin could become a viable alternative since it has never been affected by anything that affects other markets and has never followed any of them.
BUT the problem is that bitcoin price also dropped. and to be honest i wouldn't be surprised to find out that whales (from other markets) dumped bitcoin to prevent it from becoming that viable alternative...

Already Corona effect on Bitcoin price has drawn attention of huge new people who haven't previously known about Bitcoin and cryptocurrency. But i don't think this Corona effect will impact on the banned countries. In many countries, people can't discuss about cryptocurrency in public. But wise people are investing in Bitcoin. This is a positive sign for crypto to bounce back to the green trend today.

If we have a financial crisis and people are lose their jobs they will need money to pay their bills and for other expenses, and they will probably sell their bitcoins / won't bother buying more.

I guess that is already happening in the middle of this crisis. And maybe many people already moving from the stock market to the crypto market. But it will need more time to see bitcoin will work together with the other payment methods, and we still need approvement from the government for the bitcoin. Once many governments accept the existence of crypto, we will see crypto will grow fast in every country.

I guess it would make some people gain or develop some interest on crypto or Bitcoin.
People who are affected on lockdown or community quarantine would start to look on some ways to earn while they are at home so crypto could be one of their choice or doing some online jobs.

Maybe they have more free time, but as we can see- BTC was under course last time. It means that people are scared to trade when their money may be dangered by closing everything.

The problem is investors do not like volatile market and cryptocurrency is known for it. Plus there is so much market manipulation investors will always hesitate investing in such a market.

Looking at the global market and the global economy condition if Bitcoin gains a good price momentum before halving chances are few investors will think about it and also invest.

Corona fear is increasing day by day across the crypto market as the world continue to battle with this pandemic virus, The past week of BTC price was really scary and it alarmed the whole crypto forum as the market is all set to turn bearish. BTC price gone 10 months low last week and now it is slowly increasing and hopefully the market will improve before halving.

The fall in crypto was also much bigger than the stock market. I doubt it was the manipulation. But given the market size, the pandemic fear creating a panic and a sell off was expected. I would really like to differ from the limelight viewpoint too.
Limelight?
People expected crypto to be a safe haven in such cases and rather opposite happened. This is far from bitcoin being in any limelight.

not the crypto market but bitcoin.
this is specifically because bitcoin market has never been like any other market and it has never been changing based on things that go on in the world. but thanks to a large number of panic sells and a lot of whale accumulators we saw a drop which means it had a negative effect meaning it pushed people away showing a lot of risk of manipulation.

Many economists were expecting a slowdown following by recession. Corona is pretty much a reason for accelerating that and in wake of it, Fed had to cut the interest rates and print money which created hyperinflation.
So, the credit indeed goes to the CORONA.

Seeing the increase price of bitcoin right now it is really possible. The stock and oil marker are still decreasing but no with bitcoin. I guess many people there have been aware of this, moreover halving event for bitcoin will only touch one month again. If the people see and read about the halving event and even they are studying about how bitcoin work then the possibility for them to move into cryptocurrency form traditional marker will be widely opened. I don't know why bitcoin price has increased as of now, I only hope that there are many new comers who come to this place.

Hardly any such major event on global scale has have happened which can validate this statement.

Everyone eyeing the recession like situation to see if Bitcoin can actually be a safe haven. But sadly the market is so immature as of now that it fell down worse than the stock markets worldwide. It jumped 20% because sellers got exhausted not because any new money is coming in.

you don't know that. the new "wise" money always comes in when there is a huge discount like this and price has gone way below the intrinsic value. that is why it is called "wise money" it looks for good investment opportunities.
but the main reason it jumped 20% because it was undervalued and the low price that bitcoin was at was a price way below its intrinsic value. the whalecumulators tried so hard to push it lower but when they failed they started buying back.

What you're talking about seems to suggest Bitcoin as a safe haven. That is, that when everything else is going down, Bitcoin could actually be a chance to save the money. However, that, unfortunately, doesn't seem to be the case. For now, anyway. So as others said, people might've heard of Bitcoin more these days, but not in a good way. Rather, they could hear about it going down even more than anything else. And while there's quarantine now, I am sure many people don't feel like they have more free time because distance work can mean more stuff to do, actually. But perhaps closer to the halving event Bitcoin could get positive or at least neutral publicity.

Recent developments have shown that everyone is still relying on FIAT currencies, and in a crisis, everyone prefers to hold FIAT, or USD, in their hands. I think this is a mistake for all of us. It means that we haven't been able to explain Bitcoin and crypto coins in the past years. Unfortunately, cryptocurrencies are considered only as a method of making money for the majority. I don't think we can fully understand how important something can be for the future of mankind. The reason for this may be the existence of many SCAM projects, shitcoin in this market.

I have a case of Corona.

https://weartv.com/resources/media/f33040d6-bb9c-4579-a4b3-030b41dcc3c0-large16x9_AP_16148848351090.jpg?1582909077236


I hope not. Planning to get drunk this weekend :)

I don't think people are getting interested in any money instead of their life! There is no reason to get attracted in Bitcoin when people are dying because of coronavirus, we are still safe so we are asking this kind of questions repeatedly! Today Bitcoin price increased highly and dumped again, it's the nature of crypto, so, I don't think it's because people are buying Bitcoin by selling their cash.

Personally, i don't really see and think now is the right time to bring big people into the bitcoin ecosystem. As it stands now, all the big influencers are focused on helping push corona virus out of the entire world . A lot of them are channelling their funds and resources into helping get a potential cure or vaccines for this virus.  Now is actually the bad time to focus on bitcoin.

The news about the price of bitcoin falling on the market are widely spread in different country. With that news many people will notice the cryptocurrencies. Since some of the countries are in a lockdown, those people who wants to start to learn about crypto they have now the chance to get knowledge and to reduce their boredom.

At times like these, where people are fearing for their lives because they might have the disease, or the tension due to qurantine, I think less people would pay attention to the crypto world. For us, and for some investors, they'd be really concerned with their assets and tbe crypto world as a whole. But normal people and families, would be less interested because they'd be more concerned about how they can get through everyday due to the quarantine. Though I think few people would be researching, they'd be dismayed also because they will see the decline even in this decentralized world.

Both bitcoin and Corona have most important part because bitcoin dump after bigger cases Corona virus in many countries, maybe bitcoin keep safety on the top price if Corona virus have been stopped before and many people safe from this virus.

well, honestly the desire of people to hold the USD and fiat is very large at this time, even that is evidenced by the value of the USD which increases if exchanged with my country's currency. Until now, whether the decline in the price of bitcoin is caused by corona or not, but I think that this virus should make the price of bitcoin higher. Yeah, but the current situation is totally different from what I expected.

From the previous weeks, the world experience a pandemic plague and that is the coronavirus and many people get alarmed and some of them are holding back their funds and investment because they are afraid to lose too much money and some of them really affects the world market some of the stock markets rapidly down and this is not a good chance at the stock exchange also the market of the cryptocurrency fall the bitcoin and the altcoin becomes downfall because of the outbreaks happen. Still, the market price is on slowly recovering and they are now making a lot of changes because yesterday the cryptocurrency receives a huge investment and this is a sign of improving market again.

Crypto assets are still very attractive to trade despite the decline caused by the virus situation Covid-19. BTC is currently experiencing high enough spikes. And I guess a lot of people who take advantage of the BTC price increase.

After the Covid-19 virus is expressed as a pandemic virus. Now many in some countries are already doing Lockdown. With many communities doing work from home of course trading this crypto asset will be an attraction by many people.

After experiencing a decrease of 60% slowly BTC could rise again. And I think this impact community in quarantine at home choose to invest in crypto.

Coronavirus is the start of a new era.
What follows next would be the Fed and central banks around the world injecting new money into the system.

Remains to be seen if bitcoin becomes an even more attractive asset class in that new setting; ultimately we must all defeat the virus first.

Probably those who have knowledge of cryptocurrrency are the ones who will be curious enough to buy or at least do some research on it. I don't expect an average person to buy crypto at this crisis that they are in need of fiat currency than crypto.

Well, there are some experts here who are invested on both the stock and crypto and yes the global stock market are falling down very hard within the past few days and also crypto but the difference is crypto just recover faster than stocks. Regarding the alternative, still those who have information with crypto are the ones who will see it as an alternative way to get profit. Not all of the people around the world are interested in crypto right now and not all of them have the chance to keep some of their money to invest on it since they need cash to buy supplies.

we are quite concerned that the corona epidemic is rapidly spreading to many countries and many are not prepared to deal with this epidemic. however little or no this plague had an impact on the economy and also on bitcoin. but because bitcoin has a different application compared to the stock market or banking, then bitcoin can quickly recover and move up again.

From the previous weeks of the bitcoin it falls down rapidly and this is not a good sign of income and most of the country takes a lower stock market that will cause of low of cryptocurrency too and many people today are looking forward to the price of the bitcoin because it is dropped from over 9k dollars it is immediately going back into 5k dollar and lower from the previous week the price of the bitcoin comes for over 3.9k dollars and that was a huge change and as an investor and user of this coin too it has a huge impact to us. Because on the virus spreading many people pull their investment and other coins that may cause of decreasing of the trading to the coins. Still, we need to think positively because from the previous year of the bitcoin too it falls over 3k so there is a chance it will coming back soon and make huge changes and beat the previous market of 15k dollars.

Nope,this is definitely NOT the best time to bring "traditional" investors to BTC.I don't know what you mean by the term "traditional"?Do you mean banks,hedge funds and insurance companies?Such institutional investors would stay away from Bitcoin in times of crisis.Only the real speculative investors who are going for the highest risk/profit ratio would remain as stable Bitcoin supporters.
And no,I don't believe that Bitcoin had touched the bottom at 5K USD.There will be another bottom at 4K next month.

Maybe one thing that these traditional investors will not like is the high price volatility. They are not used to this kind of price movement, where a 24-hr gap will give a large change in price. And also, one more hesitation maybe owed to its unpredictable price trend. If they are new to crypto trading, it would be hard for them to understand how bitcoin or crypto works. But I think there will be those investors that will check on crypto, the price gap may indicate for them positive opportunity as they can gain huge amount of money if done right.

Yes, I recently got time to speak with my colleague after a long time.
Because of the quarantine too.
He works for google and is now asking some things about crypto currencies specially bitcoin.

I guess it is a good time now to spread the bitcoin word once again and explain it more thoroughly.
People are on their seats in front of computer and as the quarantine goes longer there will be lesser to do.
We could use that opportunity to create new investors.

1. Traditional investors are likely aware of Bitcoin, maybe even hold some small (by our standards) amounts. You can't really raise awareness, you'd have to do some convincing instead.

2. How are you going to reach them? Those people have very small and closed social circles, they aren't going to take advises from strangers that promise them 1000% returns and they don't get their financial information from Facebook or other social media.

With Corona, I can see that BTC may be more useful to send remittances to relatives due to the crisis and the fact that we are home due to security measures to prevent the spread of the virus. Nowadays electronic money is being used more and it is time when BTCitcoin and coins can gain ground. I am not sure that the price of Bitcoin can go up because the priority is health and money is second.

I saw a lot of thread discussing coronavirus and it is a very hot topic as of now.
There are two types of people who are now aiming their goals, those people who can afford to invest crypto they are investing in it. On the other hand, people who can't afford they had prioritized the home budget while they are home quarantine for at least 1 month. We can't generalized all people because we are different financial statuses in life. I think Bitcoin will hardly reach the goal of $10k while pandemic was still going on.

I think they need time before people read and understand crypto because their focus right now is how to prevent the Coronavirus, and what they need to do to avoid the virus. Perhaps, if the situations can reduce for a bit, people will try to search about what is going on with the other country, and they will try to search about how they can buy what they need. They will know about crypto, and of course, they will know about bitcoin, and they will see that bitcoin can be an alternative solution for making a transaction.

I believe when some countries' governments arrive to the point of defaulting/becoming bankrupt, or maybe hyperinflation from over-printing their currency, then the only choice is Bitcoin as a store of value.

I am hoping it will bring attention to the people and they'll adopt anyway, however, the economy is in trouble right now, lots of business got bankrupt, people losses their job, so it's not a good timing for them to prioritize investing in crypto for now, they'll certainly use what they save to fight this long outbreak that until now is still threatening us, it's a global pandemic that destroys economy, and its expected that the crypto market will be affected.

I think that's what he is trying to point at. Everything that would involve throwing their money at is surely risky at this moment now. Maybe traditional investors would just quarantine their money for now, and wait til this "storm" is over.
I can't even manage to buy some BTC without going out of my house because I don't really use credit cards to buy one so I am kinda locked out right now.
So even some currently hodling hodlers might not consider investing right now like me ,but I'll surely wait as I can save my savings up from my earnings online then I'll invest it all after this pandemic.

You are right about this submission because many of my friends who have heard about this technology called Bitcoin and revisited it during the coronavirus pandemic outbreak. This has giving me more hopes that the market will gain traction in time to come. The bounce back will be more attractive to new investors and this can open more new upwards movement for the general cryptocurrency market

This is actually a very precise moment for us to introduce the technology of Bitcoin. The spread of the Corona virus has made many people quarantine themselves. From here they start to think about making money from working at home. With the decline in cryptocurrency prices (especially Bitcoin) This is a concern for everyone. So, nowadays crypto will be friendly for novice crypto traders. So do not be afraid to trade because the price of crypto can be increased again.

It may attract investors but the problem will be that people with no knowledge about bitcoin will not bite the hype but that is a easily solutioned problem. That information dissemination about cryptocurrency will surely help a lot.

I don't like this idea, I prefer people to switch to crypto on their own terms. the crypto market is very volatile, so I doubt many people can adapt to this market, moreover they come from the stock market. So that when people enter and experience losses they will understand that crypto is quite risky and when they experience profits they will be able to support cryptocurrency and be loyal.

I believe this is a golden time for bitcoin to show valuable it is. If people actually support it and raise awareness about it in this time period saying that how valuable and potential it is to use BTC right now then it might actually get support from the people. The market is crashing like anything and on the other hand bitcoin is doing remarkably well. I think many people are keeping an eye on bitcoin. All we have to do is keep highlighting the uses of bitcoin and we might actually see it being used in the upcoming months.

I think people already have their attention drawn to Bitcoin with this heavy fall that has happened and also with the bad news that are being carried around by the media.

Just relax and see the kind of wave BTC is going to create when the price starts to increase as the next bull run kicks in. People have their attention on Bitcoin now and they will all be interested in knowing what happens with Bitcoin after this heavy fall that we have seen. But, I know for sure that those that wants Bitcoin to fail this year are going to be disappointed at the end.

A good time to show the power of bitcoin and what is the effect in bitcoin when all market's decline a good start to see by the people that only focus on trading stocks and currency . This is a new opportunity to other and they will see it when all market crash but bitcoin is still in good position compare to other market.

Yes, the presence of the Corona virus may constitute a better attraction towards encryption due to the low values of digital currencies, especially Bitcoin, so there are better buying opportunities besides that investment at this time in particular may change market trends and create a favorable atmosphere to a large extent for investors and traders alike. Especially with insulation synchronization.

As COVID-19 is still spreading the world, most of the people got unemployed to avoid the risk of spreading the virus, so basically it means that they will have more time spending at their home, so I think the will be more focused on cryptocurrency, there will be more investors and traders that we may have because of this virus, but trading for now is not a good option because the price of the bitcoin is still low, the good thing that we should to is to invest, if we invest now when bitcoin is not the too high, for sure we would make money from that in the future.