COVID-19 Increased Bitcoin Adoption

[DU18]

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?

With the corona virus outbreak that continues to spread to almost every country, and it causes an extraordinary panic to various aspects of life in the world today.
Maybe the direct influence on cryptocurrency trading is nothing huge  in my opinion Because, the in recent days there have been an increase in the price of bitcoin after previously experiencing a price decline in the market, and indeed previously the price of bitcoin continued to decline due to many investors who panicked about the corona virus, but slowly began to be seen if investors began re-buying bitcoin, causing the price of bitcoin to start increasing again in some exchanges today.

[Golftech]

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?

With the corona virus outbreak that continues to spread to almost every country, and it causes an extraordinary panic to various aspects of life in the world today.
Maybe the direct influence on cryptocurrency trading is nothing huge  in my opinion Because, the in recent days there have been an increase in the price of bitcoin after previously experiencing a price decline in the market, and indeed previously the price of bitcoin continued to decline due to many investors who panicked about the corona virus, but slowly began to be seen if investors began re-buying bitcoin, causing the price of bitcoin to start increasing again in some exchanges today.

For now, the difficulty of choosing between life and investment are taking into everyone's mindset. It's tough with anyone to use their reserve money
inside assets than holding it for personal securities.
Adoption wise, competitions with other form of digital money are also increasing, bitcoin with its volatile nature is having a hard time bringing more
users after this corona spread.

[awakpane]

In my opinion, one factor in the price of bitcoin is down, because people are experiencing panic with the widespread outbreak of COVID-19 so that selling it. they think if the coronavirus is infected and dies then their bitcoin assets will be in vain. especially those who are stuck at home selling bitcoin for their daily needs while at home.

I have the same thoughts as you but really should not worry too much because this disease has a very low mortality rate and you still have time to sell if you are infected. In my country, until now, no one has died from this disease but it will certainly soon and create panic for investors. I think you should only hold fiat or USDT right now as this is the way to secure your assets in this market.

Although this disease does have a low mortality rate, the effects of this disease are dangerous. With conditions like now many countries impose everyone must stay at home, I think to be able to transact better using digital currencies than fiat money to see the current situation.

[davinchi]

People need to be made aware about this though. We are not creating too much awareness campaigns because bitcoin is not a company and there is absolutely nobody who is responsible for such a task. In altcoins when there is a new project going on, they talk about how they should be "better than bitcoin" and that is quite wrong, there is no way any new project could be better than bitcoin, even if blockchain looks better, that doesn't make it any better because bitcoin has huge adoption.

However, when bitcoin (if bitcoin) could do campaigns it would have done compared to dollar, bitcoin doesn't have any opponents in crypto world, it is the biggest one by far, yet it has to fight with stocks, golds, cash and all others so we could have created an awareness comparing to them.

[Ezravdb]

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?

falling prices btc because many whales sell. if traders, investors buy btc and hold in the long run I think prices will rise significantly. But the news of the adoption of crypto in some countries also btc will approach halving I predict the price of btc will again record ATH ..

[VDraci]

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?

It will be kinda tough for newbies to make money while on lockdown, to earn in crypto space takes time, they have to learn from scratch like how wallets works and the difference between exchanges too before other things like trading and bounties, this can takes months

[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?

It will be kinda tough for newbies to make money while on lockdown, to earn in crypto space takes time, they have to learn from scratch like how wallets works and the difference between exchanges too before other things like trading and bounties, this can takes months

I don't even think like that as newbie has no enough experience to do a trade in the crypto market. I believe they have already started to learn more about that but the fact that newbie will rarely try to learn about that and we must tell them all about that. Covid becomes a worst thing that I can see for the world but it gives a positive impact for crypto.

[Saisher]

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?

It's stabilizing but not really down and it's not only the Crypto market everything is down and lock up people are confined to their homes and on a wait and see mode on what's going to happen, this is our first taste of pandemic in this present generation and everyone are watching what will happen next, will this take long or will it be contain.

[Crypto5060]

Every market is down as a result of the coronavirus. It's sad how much it has negatively impacted crypto. I wish it ends and everything goes back to the way they were.

[tabas]

Why the price of Bitcoin is still down?

It wouldn't have an instant effect. I'll be with the long term effect of the pandemic for bitcoin. The sell off of the plus token scam did pulled the prices first and then was followed by the surprise pandemic.
Wait until the stimulus will be injected to the Americans, we might see the effect accordingly.

[itsv]

well in the short term due to covid-19 panic all over the world people need cash to buy stuff ..so if this pandemic continues further we might see people selling their crypto for fiat so that the buy everyday groceries. But as we reach the btc halving we might see some buying provided this cronavirus crisis are over by then.

[Oceat]

I like to believe this assumption but I don't think it gather more people to adopt Bitcoin during this pandemic crisis. Unless if you can give a straight source from what you just posted. But anyway, people will still start to adopt Bitcoin in the future since it is an innovative creation from Satoshi Nakamoto.

[AmoreJaz]

Why the price of Bitcoin is still down?

It wouldn't have an instant effect. I'll be with the long term effect of the pandemic for bitcoin. The sell off of the plus token scam did pulled the prices first and then was followed by the surprise pandemic.
Wait until the stimulus will be injected to the Americans, we might see the effect accordingly.

let's wait and see what will happen then...

but yes, even if the adoption is increasing, bitcoin is still down as a lot of crypto users are selling their coins to augment their daily needs. not all crypto users can afford to hold in this crisis.
but as you can see, when we hit the $3k, it goes back now to more than 6500. so i guess thats already positive news in crypto. it shows that bitcoin is really gaining a stronghold even in this unfortunate situation!

[Oasisman]

Well, that's because people had enough time to read about cryptocurrency, and made them realize having a piece of Bitcoin means you have fiat currency that will go up and down anytime.

Many countries are using blockchain technology to fight against the pandemic.
Why the price of Bitcoin is still down?

How did these countries use the block chain technology to combat the virus? Should've included a link or a statement from your source.

Bitcoin is still down because literally everything is down due to the pandemic. People are still skeptical on which direction their money would be headed, is it for the health care expenses or for the investment, since stocks and cryptocurrency market is still down.

[imstillthebest]

Why the price of Bitcoin is still down?

It wouldn't have an instant effect. I'll be with the long term effect of the pandemic for bitcoin. The sell off of the plus token scam did pulled the prices first and then was followed by the surprise pandemic.
Wait until the stimulus will be injected to the Americans, we might see the effect accordingly.

let's wait and see what will happen then...

but yes, even if the adoption is increasing, bitcoin is still down as a lot of crypto users are selling their coins to augment their daily needs. not all crypto users can afford to hold in this crisis.
but as you can see, when we hit the $3k, it goes back now to more than 6500. so i guess thats already positive news in crypto. it shows that bitcoin is really gaining a stronghold even in this unfortunate situation!

the adoption stops now because the covid takes place for a while but if you compare the adoption this year versus last year and other late years well id say that this year's adoption could be better , if only not because of covid this adoption can became too much and the price right now could be growing   . this is why people left and right says that this virus sucks  .  this does not increase btc adoption because look at the value , the btc value drop and the momentum was killed   . good thing btc value recovers a bit because if not then i dont what can happen maybe the panic still continues

[crzy]

This is just an assumption and no proof to believe for. In my own opinion, the user of bitcoin was lessen because I believe that some of the dead people due to virus was a hodler of bitcoin and for sure most of them have no backup details of bitcoin and that will result to a more lower supply of bitcoin.

[bgaf]

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

Quite confuse with this line? Countries are using blockchain tech to fight covid? How? I mean is this regarding health or work as just an assistance to the growing pandemic by means of accesibility and convenience to do purchase or remittance purposes?

There are lots of factors with the price drop, some say its due to the virus, some say using this crisis as a reason to let the market down, many conspiracy but the market seems to stand from a dying downfall.

Adoption is increasing and countries now heavily suffered employ blockchain tech ability to commit dozen of transactions needed such as donation. See Italy's resolved and now facing and using crypto ilon their country. Embracing its means.

[bitgolden]

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 know about countries that are making use of Blockchain in tackling the pandemic, haven’t heard or seen that in the news either. But, if they are really doing that in some way then kudos to them.

As for people adopting cryptocurrency, there is really no way to tell if the number is increasing or not, you can’t tell. In my country there has been a lockdown and people are now making their purchase through online and having it delivered to their house, everything from food to other things they need are being ordered online. The online shopping platforms, none of them are accepting cryptocurrency as payment.

[acdc]

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.

Because people are not allowed to leave their homes so their income will drop significantly, when their income drops they will definitely have to withdraw from investments.
Besides, they also need money to pay for daily necessities.
That's exactly why bitcoin will drop.

[xZork]

Currently the world is facing a terrible financial crisis. The epidemic caused world trade to stop and many people lost their jobs.
These things make the money invested in the cryptocurrency market become interrupted, so the price of BTC will drop.