Bitcoin Forum

People get to see more of the negative impact of every problem (crisis) than the positive, particular;y when it comes to the prices of cryptocurrencies.
Yes, it is true that there was a drawback in the price of bitcoin and altcoins generally when the pandemic grew. However, I believe this should also have its positive side for the crypto industry.

My view is that the crisis is not bad for the crypto industry, rather it will make more people recognize its true value.

So, I would also like to know your views on the positive impact of the crisis on the crypto industry?
Thanks.

Yes, good observation. There are always good and bad sides to every situation.  This present situation of pandemic could have made several national governments who had earlier refused to adopt crypto revisit their thoughts and see how they can balance up between fiat and digital currencies.

The biggest attribute or cause to this, is the fact that people do not want to be patient, neither learn.
For every trader understands that in every bear market there is huge profit.

But buy/sell get rich quick investors, are known to panic, neglecting the obvious advantages of the bear market.
So instead of panicking, i urge all to go back to the learning table, dyor and get extra trading knowledges.

You are right most people have always pointed out the negative impact of any crisis, But for me, I see it as an opportunity to introduce the cryptocurrency things to the people because of the home quarantine many are staying at home and browsing the Internet for a reason and I think that was a positive contribution of this crisis to the cryptocurrency industry. to keep more people aware of the existence of Bitcoin and other cryptocurrencies. will that was only my personal opinion and not based on any study.

Many will know understand how good crypto is, this is the only advantage I see presently with this ongoing crisis, take your mind off the next Bitcoin halving because I'm sure it won't be effective unlike if there was no crisis

That is, if the value stays this way or if it grows more.
Stocks, and other financial problem is already here and people just want to survive all of this.

The potential of a positive look is actually because they are having more time in the internet than they have when they are working.
There might be a possibility that a lot of investors will come in once all of this is over.
Somehow they could use this time to learn more about other things rather than being stuck with work and rest.

Yes recognition of crypto at this point in time is the idea, that is, since there is lockdown in various countries people might need new ideas, skills (trading) etc and this might be the good time to introduce them to what cryptocurrencies is all about and what it holds for the future. Also, I keep saying this to my friends, if only current cryptocurrency platforms will enhance their services and make their token have more utility, it will go a long way in bringing exposure to this space therefore serving it's purpose even in this pandemic.

The present cryais will teach people that cryptocurrency can be used for transactions from the comfort of everyone's home. Despite this discovery, many persons will not use cryptocurrency due to restrictions from their country.

Yes, you are right. crypto is now the haven, which more will still come to realise. Exchanges like Binance are also making it easier because one of the complaints they might likely give is how to easily convert their crypto to fiat. Since that is no more there, the ground is now opened for every one of them. People are already coming in and they will keep coming in greater number.
I also have still believe, that, more countries will come in support of crypto.

People who never invested on anything and the one who thought that stock market is the best and safe kind of invest now knows that cryptos are still good and alternative investment at any market situation since we knows that even there is price fell on cryptos it is not much as stocks and already we can witness the growth on the prices if cryptos compared to stocks.

The crisis helped how cryptocurrencies are being resilient to which transactions/trading continues 24/7 non stop while stock markets literally stops. The investors in stock market had already sees it that they are in the very centralize market which trading can be shutdown whenever government wants too but never can it be done in cryptocurrency and this is a big benefit that will make them realize how reliable crypto is.

One of the positive impact is that it shows how powerful cryptocurency is with it's ability to bounce back from the crash and also it gave opportunity to new Investors to invest.

My personal opinion is that because of the quarantine, many people start learning something new while sitting at home.There is a lot of content about cryptocurrencies, so people start to study this direction and accordingly invest and buy cryptocurrencies.That is why we are seeing the market gradually begin to recover.