Coronavirus is very harmful to fiat currencies, not bitcoin

[peter0425]

i thought this was a joke lol,because how can an online currency can be affected by Virus 

And also this pandemic people forced to look for payment options that needs no physical action so i think some of them consider bitcoin since this is not that popular as others.

It depends on the point of view, this is because in the short term cryptocurrencies can have substantial volatility, but when we compare it in the long term we realize that there are many cryptocurrencies that have had a considerable price increase, so I think that volatility can be a good time in increase our position, especially Bitcoin, Ethereum, among others.

but at least not the word "Harmful" as what OP says in effect to fiat.

[Ozero]

This conclusion is indeed not devoid of some sense.  Cash cryptocurrency turned out to be a carrier of the coronavirus, and governments began to disinfect it or keep it in storage for a certain time.  All fiat currencies of states are now under the threat of significant inflation if unprecedented quarantine measures taken by governments lead to a global economic crisis. 
The cryptocurrency was subject to a significant drop in price only during the initial period of the spread of information about the appearance of the coronavirus.  It can only benefit from the global economic crisis as a deflationary tool.

[GelatikKembar]

Have you seen how governments responded to the corona virus?

Quite simply, in Italy, the US and elsewhere, they will increase their budget deficit, and add debt. In my understanding, that's very bad for fiat currencies, while BTC will remain unaffected, thanks to the lockdown on money supply.

every country will indeed have a recession, because this corona virus makes a country lack their financial,
the finances of a country are very much affected by this pandemic, many export sectors have died, jobs become difficult, and several other financial cases, and make a country have to print more money or they have to debt from other countries,
but Bitcoin will not fall because of all that, the supply cannot increase no matter what and this is its specialty

[slapper]

Have you seen how governments responded to the corona virus?

Quite simply, in Italy, the US and elsewhere, they will increase their budget deficit, and add debt. In my understanding, that's very bad for fiat currencies, while BTC will remain unaffected, thanks to the lockdown on money supply.

every country will indeed have a recession, because this corona virus makes a country lack their financial,
the finances of a country are very much affected by this pandemic, many export sectors have died, jobs become difficult, and several other financial cases, and make a country have to print more money or they have to debt from other countries,
but Bitcoin will not fall because of all that, the supply cannot increase no matter what and this is its specialty

You need to remember that the price of bitcoin was only $3000 in March. And the main event in March was the Coronavirus. It affected the price of bitcoin strongly but thank to the halving, we are capable to see the price of bitcoin recovering significantly

Bitcoin is somehow bound to the global economy. You cant deny it. Our economy is built from countries, countries are built from people. And it is inherent that people use bitcoin. If there is an economic crisis, they probably sell most of their asset for safety

[jademaxxiss012]

Yes, I agree 100% and that is why many people are converting their fiat to bitcoin after seeing a good result to it as it grows its market price over a period of time. This is somewhat the best way to avoid getting hit by an inflation rate where most fiat currency value is being depleted due to economy crisis or most of the economy in every country is down.

[cotton ball]

it is definitely dangerous but there are still many people around the world using fiat money and it is still used for buying and selling there is not even a solution in many countries all still use fiat money for transactions where people have been dependent on using fiat money until now This and it has been the case for a long time whether there is a solution someday to throw away fiat money with more perfect currency. actually, bitcoin can also be a solution for exchanges but there are still many countries that prohibit it.

[Ridcan]

you were right in your predictions.  Bitcoin was not affected.  even those who invested in bitcoin during this process turned out to be profitable.  countries' deficits increased, health spending increased.  Those who allocate more budgets to the defense industry every year now have to spend more on health expenditures.

[Negotiation]

The virus has caused the economy including the fiat currency to plummet bitcoin has no effect the corona virus has taken people's lives a long way that's why the government needs to allocate more to the medical sector to prevent the virus from invading. If the helpless and poor people get free treatment they will be able to improve their health even if he is afflicted with the disease he cannot go to the doctor properly due to lack of money in  he suffers from poor health.

[Fredomago]

Yes, I agree 100% and that is why many people are converting their fiat to bitcoin after seeing a good result to it as it grows its market price over a period of time. This is somewhat the best way to avoid getting hit by an inflation rate where most fiat currency value is being depleted due to economy crisis or most of the economy in every country is down.

A good reason why we are seeing this current strong bull run, institutional investors and businesses are seeing the after effects of this pandemic, and with such cases, they'll seeing the potential of this crypto currency as a good for for investment as it wasn't affected by
any depletion which may take place to any fiat money from different countries.

Good thing that we are able to invest with bitcoin and continue to enjoy the growth of our investments. With new players around it
will add more adoptions that may create much wider impacts to this market.

[CryptoLogo]

I do not think so. The coronavirus stops the world economies, it cuts off the cash flows, due to which the price of bitcoin rises.
Note how bitcoin began to grow after the abolition of restrictive measures, I'm sure this is due. If now in view of the global quarantine again, we will certainly face a deep correction.

[Twinkledoe]

you were right in your predictions.  Bitcoin was not affected.  even those who invested in bitcoin during this process turned out to be profitable.  countries' deficits increased, health spending increased.  Those who allocate more budgets to the defense industry every year now have to spend more on health expenditures.

If the OP will revisit his thread, he will be happy with his statement. Right now, bitcoin's price is soaring as compared to the time that he created this thread, March 2020 (around 5800 level at the time he posted). Wow, that's about 300% increase. If someone bought btc at that time, he's enjoying his profits right now. Indeed, pandemic didn't stop btc to perform great in the market.

[The cure]

OP's prediction is definitely correct,, many months ago after lockdown and strict restrictions were implemented due to covid 19, we all witnessed how badly the fiat gotten affected while bitcoin continues to rise until now. Bitcoin has not been affected and those who invested and trust in bitcoin at that time are very lucky now.

[livingfree]

OP's prediction is definitely correct

Yes!

It became true. Despite bitcoin dropped a lot on March which was the hottest month also for covid-19 infection it has remained resilient. And while we're looking to the price and awaits for the breaking of the ATH, bitcoin is the strongest asset that we can credit during this pandemic.

And that's not all.

A lot of positive vibes would come in once the world is cleared again from this virus. Lives will come back to normal and cash flow of most people will go back to normal again which could be in favor of bitcoin.

[NavI_027]

A lot of positive vibes would come in once the world is cleared again from this virus. Lives will come back to normal and cash flow of most people will go back to normal again which could be in favor of bitcoin.

Look at this picture, crypto market continue being bearish before corona virus appeareed. And now, during the pandemic, all prices become bullish. So how sure are you that btc will soar further after we eradicate the virus? Why don't you think its the opposite? Oops! I'm not a pessimist. Just saying lol.

Nevertheless, I'm very glad that we can already say that we're already in the verge of ending the problem. The invention of vaccine is on its way (95% complete as Pfizer's claim) so let's keep on waiting. I wish that our Christmas this year is a lot merrier than ever .

[Durgesh728]

Many Analyst have mentioned Bitcoin as digital gold of future, but still as someone mentioned before that Coronavirus have harmed human-being directly not fiat currency. Though indirectly it have hampered various industry which may never recover all together, as said by Nicolas Talleb in his recent interview.

[mich]

Corona Virus has been a silent blessing for crypto holders.  It is a terrible pandemic and we should all stay safe but we can watch our crypto accounts grow in value.  

There is a lot of big news in Bitcoin world this last week and I think bigger news will come sooner only to keep the bull run going.

[Hasmizara]

OP's prediction is definitely correct,, many months ago after lockdown and strict restrictions were implemented due to covid 19, we all witnessed how badly the fiat gotten affected while bitcoin continues to rise until now. Bitcoin has not been affected and those who invested and trust in bitcoin at that time are very lucky now.

The high price of covid 19 and bitcoin has brought the Fiat currency down . But if the economy improves a touch the Fiat currency will rise again but as Bitcoin becomes decentralized, the demand for Bitcoin are going to be above Fiat. Cryptocurrency may be a sort of digital currency which will be created and used outside the control of the govt or the financial institution. Investors are very lucky and now those that will invest in Bitcoin are going to be ready to make some profit prices may rise to higher prices.

[Sanitough]

Corona Virus has been a silent blessing for crypto holders.  It is a terrible pandemic and we should all stay safe but we can watch our crypto accounts grow in value.  

As of now maybe because bitcoin is undeniably still at bullish mode, so it's correct that because of the covid-19, crypto market was appreciated.
Maybe i's already the institutional investors that are coming in, there's a bigger influx of money for the market and we have seen its effect now already.

There is a lot of big news in Bitcoin world this last week and I think bigger news will come sooner only to keep the bull run going.

Such as- 

[livingfree]

A lot of positive vibes would come in once the world is cleared again from this virus. Lives will come back to normal and cash flow of most people will go back to normal again which could be in favor of bitcoin.

Look at this picture, crypto market continue being bearish before corona virus appeareed. And now, during the pandemic, all prices become bullish. So how sure are you that btc will soar further after we eradicate the virus? Why don't you think its the opposite? Oops! I'm not a pessimist. Just saying lol.

Nevertheless, I'm very glad that we can already say that we're already in the verge of ending the problem. The invention of vaccine is on its way (95% complete as Pfizer's claim) so let's keep on waiting. I wish that our Christmas this year is a lot merrier than ever .

Money is flowing again and just as you see, there were lockdowns yet bitcoin went into a surge. So, in that case if money goes into flow again in the economy and people don't have to think of stocking their money into cash.

It will be into investments and bitcoin will be their option. Bitcoin is attractive as it's pumping and most investors won't have any doubt investing into it after they've seen it gone through in a bull run for 2017 and this year.

And 2021 is also speculated to be in good hands.

[Twinkledoe]

A lot of positive vibes would come in once the world is cleared again from this virus. Lives will come back to normal and cash flow of most people will go back to normal again which could be in favor of bitcoin.

Look at this picture, crypto market continue being bearish before corona virus appeareed. And now, during the pandemic, all prices become bullish. So how sure are you that btc will soar further after we eradicate the virus? Why don't you think its the opposite? Oops! I'm not a pessimist. Just saying lol.

Nevertheless, I'm very glad that we can already say that we're already in the verge of ending the problem. The invention of vaccine is on its way (95% complete as Pfizer's claim) so let's keep on waiting. I wish that our Christmas this year is a lot merrier than ever .

Money is flowing again and just as you see, there were lockdowns yet bitcoin went into a surge. So, in that case if money goes into flow again in the economy and people don't have to think of stocking their money into cash.

It will be into investments and bitcoin will be their option. Bitcoin is attractive as it's pumping and most investors won't have any doubt investing into it after they've seen it gone through in a bull run for 2017 and this year.

And 2021 is also speculated to be in good hands.

This pandemic fortunately is a blessing in disguise to crypto. With this crisis, people appreciate crypto or bitcoin as a good alternative payment method as compared to cash. However, the adoption from noncrypto users is not to be expected to surge fast, but I really think, during this pandemic period, there are a lot of noncrypto users that are converted to be crypto enthusiasts. With a lot of time to study and search during lockdown, for sure, some of them encounter bitcoin or crypto, and got their interest to look into it. And to add, the announcement of paypal regarding the integration of crypto in their system, gave a lot of positive vibes to crypto community.