Bitcoin Forum

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.

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.

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.

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.

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.

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.

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?

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!

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.

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,...).

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.

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.

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.

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.


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

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.

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.

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.

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.
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.

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.

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.


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


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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

No one has found out the cure for corona virus and just like in past deadliest pandemics, it should take a year or two to create a vaccine, so worry not about that.
The important thing right now, is banks printing a lot of money devaluing their Fiats this should serve as a wake up call for most people that the monetary system is flawed thus leading Bitcoin to become more popular more than ever because it is scarce.

Surely after this crisis people realize that there are mich more better alternatives.

COVID-19 can't be eliminated completely.All the countries probably could create a cure and a vaccine against COVID-19,but the virus will continue to exist in the nature and it will continue to infect people.
The CBDC topic has been discussed multiple times before and still there's no evidence that any central bank in the world will successfully create a fully functional digital currency.
China will be too busy with their continuing trade war with the USA.Trump is mad because of the corona pandemic and wants to blame China for the virus.I don't think that China will launch a CBDC anytime soon.

Covid-19 cure or vaccine cannot be easily be provided hence it requires a clinical trials, maybe 6 - 12 months max is expected for a vaccine to be made. Despite with the epidemic, bitcoin surge to $9000 this week and really did a great job surpassing the expectations despite the crisis we are experiencing right now. I believe that this surge is because of bitcoin-halving next month and with that covid-19 cure is taken out of the context regarding the price surge of bitcoin.

BTC price is a subject of speculations. Anything could boost or dump it

This pandemic virus has been so dangerous to all people around the world because of its easy transmission, so we are all required to stay at home just to prevent the risk of spreading to different people. The things we should do to help our government to kill this is to follow the things they have said.

This pandemic virus has no relation to the price of bitcoin so I do not think that if this pandemic virus has gone the bitcoin will increase. It is not about that because as of now the bitcoin starts increasing because of bitcoin halving and we know that this virus is still existing, there is no strong vaccine yet that can kill the virus, but let us all pray that there would be someone who will going to create it as soon as possible.

The question is if and when the vaccine and cure for COVI-19 will be developed. To my opinion that will take a while.
However if that happens it will certainly lead to normalitazion of whole situation and economy world wide. That might influence the Bitcoin in positive way too but it can't be told with certainty.
Bitcoin market is complex and influenced by many factors and pandemic doesn't influence it directly, so the development of vaccine will not influence it also.

There is no evidence that the prices of bitcoin in the market coincides with the pandemic and that means that a breakthrough about the corona virus vaccine will not ride the same boat as the fluctuation of price in the market. I can see the angle that you are trying to see, the pandemic affecting people, people can't go to their jobs, businesses can't function without people, with most businesses close economy suffers and then market is affected because economy flow is on halt, cryptocurrencies are part of the market, I get it but it is all just coincidence. But coincidence have been in history for a long time, one good example I could think of is the 1838 novel titled "The Narrative of Arthur Gordon Pym of Nantucket" by Edgar Allan Poe, there is part in the story where a fellow named Richard Parker was eaten by his fellow crewmates because they got shipwrecked and they are going to die of starvation. In 1884, a 17 year old named Richard Parker was killed after the yacht he was on was destroyed on their trip to Australia, he was also killed by the people he was on the yacht with. As you can see it was just a coincidence like what is happening right now but I do not entirely say that all the happenings in cryptocurrency is not affected by the pandemic maybe it is too infinitesimal to mention.

Why i think differently about it since if you look on the on the effect of it you will see that the economy is suffering and all people have no work not including with "frontliners" so if no work those medium income people cannot buy bitcoin and if they cannot buy bitcoin then the demand would be lessen so if the demand lessen the price will dump so for this theirs a direct effect with bitcoins also we are dealing on the economy so there's a relation about it since we exchange it with fiat and buy it with fiat.

When the vaccine for this virus has finally developed, bitcoin has gone a long journey already. So at that time, I don't think the impact would be significant. However, as the initial reports stated that the drug remdesivir is showing positive outcome as effective treatment for those severely ill patients, this progress will give positive outlook that we will fight this battle.

https://www.latimes.com/science/story/2020-04-10/remdesivir-looks-promising-in-preliminary-coronavirus-trial

And now, btc is already gaining its momentum and with the halving close by, will be exciting moment for all of us what will happen to bitcoin in the market.

Do you have a data that tells all working people in minimum wage are investing with bitcoin? What I notice is we always generalize the idea that a large part of population is into bitcoin which I don't think is right.
Here is what I think will happen if doctors finally found out the cure, we will have a month long curing process plus disinfection, that means half of the people might be able to work at that time but I'm pretty sure it will not be all to be resume probably the essential workers only. After the halving, we will see bitcoin's price at a very low range, pretty decent but it will stay at that range for like 6 to 10 months before having an increase again.

It seems like we are co-relating the covid situation out of the way with bitcoin. It has been case throughout the past though, seen many threads which talks about the major event that is happening during the time and then they will connect the dots with bitcoin. There was booming time in 2017 when few countries were making moves with conference to "think" upon the use of BTC^{(Did not even promised its surety)} then also everyone was like this is gonna pump the BTC in next few days. Some countries even published its acceptance, started installing ATM's then also the same case happened. However, to move BTC prices effectively it really needs heavy capital to be added in the cap. Some time back I was discussing the same on halving stuff, then its co-relation with price and now here comes the covid as well. But back in the market BTC is just moving as per the investment being made by peeps around.

Whether the price of Bitcoin will fall or not and whether the government will proceed with their creation of central bank digital currencies or not, the most important , which is what we all want now is the cure to Covid-19 pandemic. I can't imagine anyone in their right senses wishing for Coronavirus to continue, everyone wants it to come to an end.

Moreover, the government will not and cannot end decentralized cryptocurrency (Bitcoin), they already made it clear that they can't ban. They have no control over decentralized exchanges. The reason why it seems like they have a say in this community is because most of us here are making use of centralized exchanges like Coinbase, Binance, etc. If Coronavirus ends, I'm very sure that Bitcoin will keep on growing, just like it's doing right now.

I think not, perhaps even on the contrary, the price will fall, as investors will feel the full onset of the crisis.

The cure covid-19 will not only boost BITCOIN but also each and every currency and economy in world.The world is at halt no income or revenue for the government.Countries like america are facing economic issues which sums up the current situation of the world.Vaccine of Covid-19 means life becomes normal gain,opening of the markets and cash flow which will ignite each market of every category.
hope for the best.

Definitely, cure or vaccine will give a different boost in the economy around the globe. And that will also have a positive impact on crypto esp bitcoin. Because of this pandemic, I am guessing a lot of people have looked into crypto, and that after this crisis, some of them will be converted as crypto users. With more demand, it means it will have certain effect on the market's price.

I agree.There is no linkage between the Bitcoin price and Coronavirus.At the beginning of the Coronavirus outbreak, due to people's ignorance and panic, it may have a certain impact on Bitcoin, but this is only a short-term impact rather than a long-term one.

In a way yes, the corona-virus pandemic has put virtually everything on a stand still, when there is a universally known cure to the virus, definitely,  as the lockdown has ease by several countries the economic activities have began to pick up slowly, although many other companies and business are still not in operation while some are partially operating, but once all the economic branches are fully operating again like before, then yes, btc and other investment will have a boost.

Absolutely! if we should get a vaccine or cure for COVID 19 we are definitely going to see a rise in the price of bitcoin. Once the economy starts to kick back in, investors are definitely going to pour funds into all form of assets such as commodities, stocks, cryptocurrencies etc. This is the best time to buy bitcoins awaiting the price increase after this COVID 19.

Could you please explain how can you be so sure and based and what you make such conclusions? How exactly are vaccine and Bitcoin price directly connected?
Yes, if the cure or vaccine will be found that might influence on improvement of situation in our sometimes, opening of economy and general feeling of improved safety among people who could get to normal lives but it yet remains to see how and if that would influence crypto market and Bitcoin price.

How do you mean by that? You sounded so self contradictory there. What has even kept Bitcoin price this down so far without it flying out of control is this stupid pandemic. Wait till a vaccine is found for Coronavirus and watch how price will spike. Come on, have you been watching how other things have crumbled during this pandemic but the price of Bitcoin has continued to soar? I believe this is the moment many people have come to realize that Bitcoin isn't going anywhere. It has put a stop to the whole "Bitcoin is a bubble" propaganda.