COVID-19 Increased Bitcoin Adoption

[Alhamza24]

Recent crises are testing the abilities of Bitcoin. The adoption of Bitcoin is increased as people are stuck at home they are looking for better solutions to transfer remittance and for purchasing.
Many countries are using blockchain technology to fight against the pandemic. 
Why the price of Bitcoin is still down?

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[bitcoin.connie]

Hello,

Yes, there are countries like in south america that people are not allowed to leave their house at certain times.
If they don't obey, they will go to jail.  I know people who need food but can not send money because they can not leave their houses.

[jrrsparkles]

Recent crises are testing the abilities of Bitcoin. The adoption of Bitcoin is increased as people are stuck at home they are looking for better solutions to transfer remittance and for purchasing.
Many countries are using blockchain technology to fight against the pandemic. 
Why the price of Bitcoin is still down?

Usage of blockchain doesn't mean that adoption of cryoto currencies were increased, probably people started to use cryptos but at government level it will be never encouraged especially at these conditions because they want people to spend fiat to keep their economy stable or else they are going into deep depression like 1929 -1933.

[mahilchii]

A key to Bitcoins survival is mass adoption. I guess the lockdowns will empower the crypto value, COVID-19 is already declared as pandemic. People are not allowed to leave the home as the well, so this will be a added advantage and there are possibilities to see a pump in the market as the value remains in a constant mode.

[avikz]

Recent crises are testing the abilities of Bitcoin. The adoption of Bitcoin is increased as people are stuck at home they are looking for better solutions to transfer remittance and for purchasing.
Many countries are using blockchain technology to fight against the pandemic. 
Why the price of Bitcoin is still down?

I don't think that during this tough time, the bitcoin adoption has increased. Because in majority of the nations, you can't buy anything using bitcoin. You can only unlock its power after converting it to your local currency. So I see no reason why the adoption would increase. It would have increased if we had good options to use it to buy regular supplies. Otherwise, people will prefer cash and that's exactly what is happening! That's one of the many reasons why bitcoin's price is down!

[Firefoxx]

The rate at which the virus is going, I'm thinking many may end up using online transactions instead of banks and fiat to avoid social or close contact. And in so doing will definitely come through blockchain so apparently the virus will increase the growth and awareness of blockchain worldwide.

[kooboat]

This pandemic and it's association with social isolation or distancing is a good test case to show that online payment methods which includes the use of cryptocurrencies is a safe and reliable way to make payment. This is the time to push and encourage more people to make use of cryptocurrencies in making various form of payments.

[travwill]

I think this is just the beginning. Stock markets are shaking and it is shaking the whole world. In the near future we are promised a recession of enormous proportions. I
 believe that it is then that we will see the real value of bitcoin. Let's see how cryptocurrency will behave in a world where all the money will depreciate.

[20kevin20]

But do you think this adoption will continue/stay at the same level once the quarantine and all these anti-pandemic measures will be lifted? Because I think it's just a temporary thing. Steam, the most popular gaming platform, has had an ATH of sales a few weeks ago. Internet stuff is going to boom during the quarantine and the more countries are put under quarantine, the more Bitcoin will be used as it's an Internet-related asset.

If these measures will be lifted and everyone will try going back to the old life then I, for example, will probably spend less time on the BitcoinTalk forum. This will lead to a smaller percentage of active users and a smaller hour-per-day stat for my account. Although the forum has a period of prosperity, once you go back to the life you used to have before, the forum will go back to what it was before most likely too.

[nelson4lov]

Why the price of Bitcoin is still down?

Times like this brings intense fear among the populace. Bitcoin and other cryptocurrencies servess vital purpose which could help with the lockdowns. However, Most people haven't gotten involved with Bitcoin and thus, it is difficult for the average user to get started. Also, most people are afraid of investing money in a digital asset. So even if the price is down, It doesn't really matter for now as long as we have new users on board.

[ryzaadit]

The article you are mention there is no connection at all regarding Covid 19, its just a dividend payment from the company to his shareholder using a cryptocurrency. The reason, why all stock still down because of the world economy crisis still not over. Everyone still holding a fiat, since fiat/gold would be a good option to hold right now they need to buy food material during the lockdown.

We have a slightly up movement from the price from $4000 - $6500 because the rumor of vaccine Covid-19 has been found and is being tested.

[TimeTeller]

The article you are mention there is no connection at all regarding Covid 19, its just a dividend payment from the company to his shareholder using a cryptocurrency. The reason, why all stock still down because of the world economy crisis still not over. Everyone still holding a fiat, since fiat/gold would be a good option to hold right now they need to buy food material during the lockdown.

We have a slightly up movement from the price from $4000 - $6500 because the rumor of vaccine Covid-19 has been found and is being tested.

But I guess there are some individuals that who are looking into crypto right now as one of their alternative options.
Since a lot of people are in lockdown, they will search for better ways on how to deal with this crisis.
And by lessening their contact with their fiat money, as it is identified as one possible means of transferring the virus from one person to another.

[Perfect35]

Some people at first said that CoronaVirus was affecting the price of crypto, most especially that of Bitcoin negatively, but now, I can see another post looking at the general occurrence on the positive note. A lot of people were amazed to see the market surge again, amidst the challenge of the pandemic. This is an indication that crypto is most times unpredictable and it should never be looked down on.
In fact, so many commodities and the stock exchange have plummeted, which is unlike the price of bitcoin that is already recovering.

[asriloni]

Recent crises are testing the abilities of Bitcoin. The adoption of Bitcoin is increased as people are stuck at home they are looking for better solutions to transfer remittance and for purchasing.
Many countries are using blockchain technology to fight against the pandemic. 
Why the price of Bitcoin is still down?

Is there something wrong with it? I'm not even seeing the price of bitcoin is getting decreased a lot but the opposite thing is happening right now when the price of bitcoin keeps its bullish trend even when the stock market is not yet showing the positive trend to counter the impact that caused by this pandemic. Bitcoin is starting to grow right now and where are you seeing it happen?

[JeromeTash]

-snip-

Do you have more information like statistics to show that bitcoin adoption has increased due to the recent outbreak of COVID-19? Otherwise without that how can we tell that bitcoin adoption increased?

Whether Massively adopted or not, Markets of different stocks, bonds and currencies respond to bad news and global crisis by dropping in value and bitcoin is not exceptional. This should be something basic you should know.

[pikkie]

well indeed from what I saw when the corona virus attacks many who try to secure their assets while those who adopt cryptocurrency I see no, if the conditions of the exchange now begin to show the price increase because it is time to get back up and there is no need to panic with the corona virus again.

[coupable]

A lot of people were amazed to see the market surge again, amidst the challenge of the pandemic. This is an indication that crypto is most times unpredictable and it should never be looked down on.

Cryptocurrencies have gain value by the actual corona crisis due to its caracteristics as a cashless system, jus like electronic cards and applications related to bank accounts. After following the crash of the market, all the contactless systems of paiements deals are recovering in value.

[Rengga Jati]

Recent crises are testing the abilities of Bitcoin.

I don't think it is testing the abilities of Bitcoin but testing how the people in this world ready for any possibilities, about health, self-awareness, global economy, and various other impacts.

The adoption of Bitcoin is increased as people are stuck at home they are looking for better solutions to transfer remittance and for purchasing.

Really? It may only happen in the countries that legalize Bitcoin as one of the payment, in the countries where many shops or e-commerce receive BTC as payment. But, this is the world problem, only a few countries do that thing. Mostly, the countries still don't legalize it and they have very limited shops that accept Bitcoin. On the contrary, there are many people who sell their BTC to be converted to fiat in order to meet their daily needs that are increasing and more expensive days per day.

Many countries are using blockchain technology to fight against the pandemic.

Can you tell me what countries? You say many, so, it should be more than 10 at least.

Well, the people are limited themselves to go out of their house, limiting to use fiat and prefer to digital money. But, it doesn't mean that they turn to use BTC for this time because not all countries are available to use this coin. But, they may use their digital money that has been available n the countries, their own digital money, i-banking, and other digital payment. But, for cryptocurrency and blockchain technology, it is too fast and many countries are not ready yet.

But, probably it can be one of the supports that can be used by many more countries to look and think about using cryptocurrencies in the future.

[kingzpro]

Well it is sad that world is being under threat so badly from this virus outbreak. I hope everyone will remain safe and we will get rid of this virus soon. Regarding your post i would say that definitely world is adopting cryptos now as many European countries have allowed banks to provide crypto buy and sell service so that it could be made easy to buy and sell crypto locally plus many countries around the world are preparing pro crypto regulations that will also result in mass adoption of crypto coin. I think in next 2 years we will see crypto adoption to the next level.

[Febo]

COVID-19 Increased Bitcoin Adoption
Recent crises are testing the abilities of Bitcoin. The adoption of Bitcoin is increased as people are stuck at home they are looking for better solutions to transfer remittance and for purchasing.
Many countries are using blockchain technology to fight against the pandemic. 

I dont see any increased number of Bitcoin transaction. There is actually a decline compared to last month. And there is a 15% decline from a year ago. Yes there might be more Lightning network transactions, but transactions on the main layer are declining.