Why bitcoin should be bullish at this moment!

[Baofeng]

Payment for goods and services through cash can transmit Corona virus, doing transactions through bank, especially cash deposits can also transmit the virus. The safest way that we can create values and pay for goods and services during this time still remain blockchain and those selling off at this moment are doing so because they did not spend time to study the Blockchain technology and how it works.

The problem is that not many merchants are accepting bitcoin to pay for goods and services. People tend to used their credit or debit card, but crypto? not at all, maybe except for few of us here, but globally adoption is still not there yet. I'm been practicing to used my bitcoin to pay for my basic bills, like internet, electricity and water. However, to buy goods here? credit card is still the prefer method if you want to go cashless.

[$crypto$]

Payment for goods and services through cash can transmit Corona virus, doing transactions through bank, especially cash deposits can also transmit the virus. The safest way that we can create values and pay for goods and services during this time still remain blockchain and those selling off at this moment are doing so because they did not spend time to study the Blockchain technology and how it works.

how people in my country will pay electricity, pay water bills, buy food, pay TV and internet bills using bitcoin if in my country not even more than 3% of people know bitcoin and don't accept bitcoin as a means of payment ? look at the reality of the world, bitcoin is still far from being used as a means of payment in all countries of the world, in the midst of this crisis physical money is the only option we have

It is true that it will be difficult for those in a country that cannot allow bitcoin as a payment even though blockchain technology can be relied on in this way so the government is wiser in responding to things like this then this will only be speculation that will not happen.

Honestly, in my country it is also difficult to make any payment using the blockchain because no one accepts the store or merchant, so they are forced to choose physical money as a need for other payments.

Bitcoin is far from a bullish word if world conditions are still like this.

[bdbountyon]

This is a hard time for crypto enthusiast in Covid-19 situation. Bitcoin price is low low AND lowest. A year ago bitcoin price drops to 3k. So, this is possible to drop below 5k now. Bitcoin is bubble. It can change its projectile in any direction. Can corona virus spread through internet? The answer is no. So, why not people trade using cryptocurrency.
Again mining is not profitable in this situation. BTC is not only currency people are mining. There are many more alternatives. So, judge yourself which cryptocurrency you will invest for multiple figure profit. I think once virus threat is over everything will be normal as usual. Don't panic or spread false information for gaining popularity.

[hatshepsut93]

Touching paper money is far from being a huge vector for this disease. Plus people already use cashless payment methods like cards or smartphone apps - so people would use them even more. I seriously doubt there is any significant jump in Bitcoin payments in physical stores. And the recent price crash hit Bitcoins usability as a currency too - consumers don't like holding money that can lose such a big portion of its value in a day.

[Yamifoud]

Supposedly, digital currency and bitcoin were of big help to stop the spread of this novel virus but something we need to think that not all areas are accepting this that makes a reason why people have to convert it into fiat money. But the market demand tends to slow down since most of the crypto holders are selling it at low. Well, this will be good into the part of buyers which they can accumulate more Bitcoin at cheap prices. Then, we couldn't expect to see recovery and seeing in the bullish if people will never change their mindset and keep on panic selling. This will worsen the market situation even halving is arrive.

[samcrypto]

Payment for goods and services through cash can transmit Corona virus, doing transactions through bank, especially cash deposits can also transmit the virus. The safest way that we can create values and pay for goods and services during this time still remain blockchain and those selling off at this moment are doing so because they did not spend time to study the Blockchain technology and how it works.

There’s still no mass adoption so we can’t expect that bitcoin will be the best currency right now. Some users still don’t know where to spend their bitcoin and the only option for them is to convert it into fiat money. If there’s already the adoption then we can easily see bitcoin on the top of everything, but for now let’s accept that bitcoin is also dumping.

[fortunecrypto]

Payment for goods and services through cash can transmit Corona virus, doing transactions through bank, especially cash deposits can also transmit the virus. The safest way that we can create values and pay for goods and services during this time still remain blockchain and those selling off at this moment are doing so because they did not spend time to study the Blockchain technology and how it works.

What happened three days ago is very surprising but it's a big shake up to think, until now people think that Bitcoin is a bubble and no investment is really safe, so people are always in a hurry to dump when they see the market is crashing it's a domino effect and something that can happen in any market that is highly volatile.

[RealMalatesta]

If we were really ready for something like this long time ago the number of preference would have skyrocketed but we were not ready for it which is why we can't really take advantage of it neither.

Right now, if we had a lot of shops and restaurants offering bitcoin payment option and if they said would you like to pay with bitcoin to everyone because of corona, we would have increased the number a lot, it would have created this notion of "if I pay with bitcoin I won't touch anything" in people that would at least create some sort of intrigue in them even if they never imagined of using it before. However, we do not have it in many places, we still have it in select few places and mostly online which is already digital, so we can't really take advantage of the situation.

[Bezobraznike]

If we were really ready for something like this long time ago the number of preference would have skyrocketed but we were not ready for it which is why we can't really take advantage of it neither.

Right now, if we had a lot of shops and restaurants offering bitcoin payment option and if they said would you like to pay with bitcoin to everyone because of corona, we would have increased the number a lot, it would have created this notion of "if I pay with bitcoin I won't touch anything" in people that would at least create some sort of intrigue in them even if they never imagined of using it before. However, we do not have it in many places, we still have it in select few places and mostly online which is already digital, so we can't really take advantage of the situation.

   Shops and restaurants are closed! Now it's not the time for thinking about the adoption! When all this "virus" thing is behind
we will see.
   Today we can't be bullish about crypto-currencies. Stock markets are going down, oil is going down, crypto-market is going
down, virus affects everyone, people are selling assets and buying goods. Situation can get worse, so future drops are possible.

[shoreno]

thats sick . they know how  to invest on it or they dicsover btc but they didnt know how it works or how the blockchain works  ? even if they only knew it on thier friends or other people , they should have still make a research because they will be putting thier money it  .

bitcoin is still new i guess , this is why many people are not picking it but they pick the one that is being more advertise locally  . this is the reason why btc isnt bullish as what we are expecting but those local online currencies are now being hype thesedays  .

[Reid]

It became like a landslide of people who are in panic.
Someone sold large amounts of bitcoin and then small holders followed it.

Now look at that, I just hope they already bought back what they have sold. But with all this happening about corona virus I bet they didn't.
They might spent all those money buying goods in grocery and cannot buy their way back.
This could be new investors that are buying bitcoin in risk of making some little profits.

[Fundamentals Of]

Payment for goods and services through cash can transmit Corona virus, doing transactions through bank, especially cash deposits can also transmit the virus. The safest way that we can create values and pay for goods and services during this time still remain blockchain and those selling off at this moment are doing so because they did not spend time to study the Blockchain technology and how it works.

Wait a minute. Is this about Bitcoin being bullish at this moment or about blockchain being used by businesses? There seems to be too much this post wants to say. And then you suddenly jumped at those selling off at this moment because they did not study blockchain? The sense is gone.

Anyway, there are many ways to transact without using cash. Everybody knows about paypal, skrill, visa, mastercard, and so many local payment apps. This is of course options if the business transactions are not open for Bitcoin or crypto.

[Botnake]

I can't agree with OP, the adoption rate of crypto is still low, and with this one day big dump, I don't think that is the reason because what OP is saying is that people stay away from paper money as it could transmit virus but these people have other options like online banking.

I think there is something else, bigger than what you think and we are about to find out that soon.

[Smitty Werben Man Jensen]

The bullish should be started now, because the weekly candle is above the 200 MA, and that's a good thing to see, it looks like there will be a big step for bitcoin and altcoin this week, the accumulation of a few bitcoins will likely make you profit, and still set a stop lose

[Jating]

Payment for goods and services through cash can transmit Corona virus, doing transactions through bank, especially cash deposits can also transmit the virus. The safest way that we can create values and pay for goods and services during this time still remain blockchain and those selling off at this moment are doing so because they did not spend time to study the Blockchain technology and how it works.

Not so fast though, those that are selling needed their cash right-away.

And bitcoin currently is not yet widespread, what I mean is there are few off-line and on-line store that readily accepts bitcoin as payment. Yes it is safe because it's cashless, but we can't use it today, only few countries, like Japan or Australia or Germany could have stores that accept it. So as much as we think that bitcoin can be good at this crisis, it is not, unfortunately. On the contrary though, bitcoin has shown resilience again, Fed announces unlimited bond purchases in unprecedented move aimed at preventing an economic depression.

[Wilhelm]

We have a black swan condition. All TA went out the window.
Once corona is under control and life adapts, we will continue the bullish trend...

[Oceat]

We have a black swan condition. All TA went out the window.
Once corona is under control and life adapts, we will continue the bullish trend...

Everyone is looking forward till that day come and the price may get back to normal again before the Bitcoin halving in May. As of now the price is a bit off and is holding the strong support at $6,000 level maybe after with this corona outbreak we might be able to see the Bitcoin price starting to increase again back to $10,000. Let's just hope this pandemic crisis will meet its end on or before summer.

[Viscore]

We have a black swan condition. All TA went out the window.
Once corona is under control and life adapts, we will continue the bullish trend...

Everyone is looking forward till that day come and the price may get back to normal again before the Bitcoin halving in May. As of now the price is a bit off and is holding the strong support at $6,000 level maybe after with this corona outbreak we might be able to see the Bitcoin price starting to increase again back to $10,000. Let's just hope this pandemic crisis will meet its end on or before summer.

It's definitely gonna take more time before this pandemic will be over, the world is on struggle right now, every passing day, more and more people are infected, a global pandemic like this would literally destroy our economy because we are not prepared for this.

Well, for crypto market, I just hope we will not follow the performance of the stocks, even in the past, we are different as bitcoin is risky and high volatile, and sooner people will be able to find a better alternative which is crypto, and they'll eventually adopt on it, that's what we need.

[figmentofmyass]

We have a black swan condition. All TA went out the window.
Once corona is under control and life adapts, we will continue the bullish trend...

at first, economists thought it would just be a short slowdown. now they're talking about the global economy shrinking this year, with huge GDP drops in q2. everything is pointing to a recession right now:

Morgan Stanley’s U.S. economists led by Ellen Zentner told clients in a report on Sunday that they now see American gross domestic product falling 30.1% in April-June. That will drive up unemployment to average 12.8% over the period, they said.

https://fortune.com/2020/03/23/morgan-stanley-goldman-sachs-estimate-coronavirus-economic-pain/

does that change your outlook at all, since it no longer seems like there will be a quick recovery? with no vaccine or approved treatments on the horizon and talk of seasonal recurrence, the specter of recession may be with us for quite a while.

if this is anything like 2008, then the bottom is still like 6 months out from here.

[leea-1334]

It's definitely gonna take more time before this pandemic will be over, the world is on struggle right now, every passing day, more and more people are infected, a global pandemic like this would literally destroy our economy because we are not prepared for this.

Well, for crypto market, I just hope we will not follow the performance of the stocks, even in the past, we are different as bitcoin is risky and high volatile, and sooner people will be able to find a better alternative which is crypto, and they'll eventually adopt on it, that's what we need.

It will take a lot of time for the virus to pass,,, but trust me, it will take an even longer time for the global financial system to heal. In fact, it has never had time to heal because after every crisis, they have just poured more money over the cracks, which is why every crisis is worse than the one before.

Crypto will always follow the economy in general BUT when things collapse, money collapses, crypto will not collapse. This is the difference.