Bitcoin has Seen a Major Boost Amid Dollar Crisis

[Sanugarid]

Prior to the pandemic, we have been trading above $10000, just fyi, though partly we have been receiving some positive support in the market amid the crisis. Compared to most stocks and assets which are heavily down right now, bitcoin sees some rises that no one expected to have since everyone is spending money and putting their assets elsewhere. Though that's the case, I wouldn't go so far as to calling this something as a bullish move. It might be just day-to-day normal market movements as was always the case with or without the crisis at hand.

I'm very skeptical about the passive pump with the bitcoin right now, because if you come to think people now are generating more expenses than what they are generating as income, so it's safe to say that this is brought to us by some playful whales taking it as an advantage since we are not done with the pandemic yet. Do we consider it as a bullish? hmm, yea I think it is, sort of but not that huge. Better not to be comfortable with the market movement now as everything may collapse if this will get long.

[pawanjain]

I don't really think it is because of Trump and his stimulus package for the US economy.
Bitcoin's price had seen a sharp fall after the outbreak of Coronavirus. In my opinion, bitcoin's price is now recovering the fall.
Besides that the upcoming halving is a good reason for bitcoin's price to pump.

[HardFacts]

I don't really think it is because of Trump and his stimulus package for the US economy.
Bitcoin's price had seen a sharp fall after the outbreak of Coronavirus. In my opinion, bitcoin's price is now recovering the fall.
Besides that the upcoming halving is a good reason for bitcoin's price to pump.

The HALVING is already priced into BitCoin, everyone already knows and expects this.

Do not worry, the next hammer will fall on the price of BitCoin with the next bad economic news.

Hard Facts

[enhu]

Its interesting to learn they thought US gov pumps BTC.  But that $2 Trillion is really going to burst everything even the altcoin with the tiniest cap.

That Roubini financial professor stated the most scary situation and if he's right that the contagion is really going to get worse, its gonna be severely affect everyone even after giving out $1000 each and everyone.

[fiulpro]

When you talk about the boost , this one is not superficial , with the governmental crisis existing almost everywhere people are now trying new things , Bitcoins is generally at the top of their list.
It is not only the dollar crisis but at the same time it is less jobs and more problems for people now , this crisis is not going to be over soon and I do think people are realizing how the Crypto community could help the companies and job seekers alike to invest , to give jobs , to look for jobs , to sell your services , the list is endless.

[Sanugarid]

I don't really think it is because of Trump and his stimulus package for the US economy.
Bitcoin's price had seen a sharp fall after the outbreak of Coronavirus. In my opinion, bitcoin's price is now recovering the fall.
Besides that the upcoming halving is a good reason for bitcoin's price to pump.

The HALVING is already priced into BitCoin, everyone already knows and expects this.

lol. Dictating of what's not happening yet? halving more than a month ahead so how come you are able to say this?

Do not worry, the next hammer will fall on the price of BitCoin with the next bad economic news.

We have already crossed and this time your negativity extends to my limit. Bitcoin's reputation won't be that low as what you have now mate. Hammer may fall but thousands of people will lift it up, now you are in a forum full of people who admires bitcoin. Don't be a hypocrite, I know you got bitcoins in your wallet. Next time you post or comment, try not to put your username at the end, it looks disgusting coz it does not fit you.

[Bohr256]

I've been doing analysis for a year (I'm a noob trader), however, my professional field revolves around statistical analysis. Anyway, many signs point to short selling. Obviously the pandemic is causing the stock markets to tank world wide, and the fact the US will have an absurd employment rate (it's speculated to be around 30%). It will take a few years to get out of this hole. The future looks grim at best. If I had btc (I sold it before it tanked and made a profit), I'd use this opportunity to get out and cut my loses.

[Reid]

I won't  expect much if I were you.
We are all in a crisis now and the panic is still there specially  for US citizens.
That amount of infected which is 300k+ is something to be serious about.

Do you really think they can still afford to buy things like gold or silver or even invest with cryptocurrencies amid this virus thing?
I am a bitcoin supporter but let us be real for now.
Not because a lot of money will be given means some of them will be used to buy bitcoin specifically.
After all, we won't know that.

[forbesmining]

This once again proved the viability of bitcoin, its superiority over fiat money.

[Youghoor]

I think part of the the Trillion of Dollars that were printed found its way into the crypto industry and especially into Bitcoin investment since popular financial advisors like Robery Kiyosaki was admonishing the purchase of bitcoin on his twitter profile.

[samcrypto]

This once again proved the viability of bitcoin, its superiority over fiat money.

With a limited supply, bitcoin is way better and for the record many country will print more money to help their people and economy which I think can devaluate the value of fiat money since we have an over supply in the market right now. Bitcoin can go to the moon if ever after the halving and that can be a good side of market recession for the bitcoin believers.

[BrewMaster]

I think part of the the Trillion of Dollars that were printed found its way into the crypto industry and especially into Bitcoin investment since popular financial advisors like Robery Kiyosaki was admonishing the purchase of bitcoin on his twitter profile.

i don't think that is true. even if it were then the part that may have entered bitcoin is a tiny fraction of the whole thing. there is still a lot of people who don't know about bitcoin or don't believe in it due to hearing a ton of FUD every day.

[Artemis3]

Bitcoin will never depreciate but the fiat system will due to the inflation.
The only rule of bitcoin in this market is just an alternative if we think of using it as online currency but a potential investment as adoption is expected while supply will eventually reduce over time.

people would realize that trusting the banking system is wrong as it's controlled by the government, there is no transparency even the suppose transparent which we called a business of trust, only decentralized asset is transparent and that is bitcoin.

I would say you shouldn't trust banks because of the fractional reserve, and you could say its the banks that control the gov not the other way around.

But how hard it is to tell people to find the truth about fractional reserve? And how would the world economy collapse the moment people discover it? This is because the mantra of the chicago school of economy would collapse (as it appears to be collapsing right now).

You think inflation is you major problem? But most of the money in "circulation" does not exist anywhere. Yes they print and reduce interest so people get in debt, they are afraid people are not getting enough in debt, this is the weakness of their school (growth by debt).

Bitcoin as money that does not lose value overtime, stimulates savings rather than spending, this clashes against Chicago school dogma, and can only be comprehended by studying the Austrian school of economy (growth by savings).

Bubbles are literally caused by this system. Once people get off that train, bubbles disappear entirely, forever. The Austrians advocated a solid money, something like gold, but not something backed in gold, i had to be gold itself so that you did not have to trust anyone to fulfill a promise. But now we have Bitcoin, and this trustless coin can fill that need perfectly without the risks of handling actual precious metals.

Little by little, people will learn the truth. Of course fiat is going down, its been intentionally made to go down by governments, and the recurrent crisis can only push it down a bit faster than "anticipated". Remember, even if if loses value faster and recovers, they will never allow it to go negative (deflation) because their Chicago school dogma forces them not to.

Under Chicago school, deflation is taboo. Under Austrian school, it is most welcome. Bitcoin is the future, fiat is the past.

[HardFacts]

i don't think that is true. even if it were then the part that may have entered bitcoin is a tiny fraction of the whole thing. there is still a lot of people who don't know about bitcoin or don't believe in it due to hearing a ton of FUD every day.

You are a FOOL....   Only a total fool would dismiss risk and facts as " FUD ".   Seriously, would you trust a wall street investment if any concern you had about it was just dismissed and ridiculed as  FUD by the salesman 

Hard Facts

[Dart18]

Crisis is the viral word for now.
Not bitcoin. 

Survival is also what people are thinking by now and not saving or investing.
Bad things are happening and death toll is increasing.
I don't think they want their money locked up into something else. It would better be on their side for now in cash rather than having a hard time to withdraw it.
For emergency purposes.

[Murat]

Do you think that Trump's decision is mainly responsible to bring back Bitcoin's price? I don't think so, Nowadays, Coronavirus has brought a massive negative impact on the planet, Nobody is feeling safe at this moment so it's a very normal issue that all the price of every market is going down but fortunately Bitcoin has come back, I think Chinese people could do a good thing in this system because they have started investing around the world, whatever the case is, it's nice to see that Bitcoin price has got a good pace, I think in this way, People will start investing in this digital platform because of Homecorentine, stay safe and keep investing in this Blockchain system.

[OcTradism]

Do you think that Trump's decision is mainly responsible to bring back Bitcoin's price? I don't think so, Nowadays, Coronavirus has brought a massive negative impact on the planet, Nobody is feeling safe at this moment so it's a very normal issue that all the price of every market is going down but fortunately Bitcoin has come back, I think Chinese people could do a good thing in this system because they have started investing around the world, whatever the case is, it's nice to see that Bitcoin price has got a good pace, I think in this way, People will start investing in this digital platform because of Homecorentine, stay safe and keep investing in this Blockchain system.

The fear from the pandemic affected all assets but Bitcoin is the strongest one in aspect of rallying rate last month. Which one is behind Bitcoin, gold. I do believe in the future, if the pandemic will be controlled, the world will have to go through a very tough period with financial crisis when rebuild all economies. It will not be solved on paper and not within weeks or months.

In that crisis scenario, Bitcoin and gold will be good investments, and Bitcoin will be the best.

[verita1]

Okay! I am glad that there is an initial plan to boost the US economy because the instability of the financial markets affects us all. And the analysts' view of the article is not far-fetched, Bitcoin could be an asset of greater demand shortly.

[buwaytress]

Prior to the pandemic, we have been trading above $10000, just fyi, though partly we have been receiving some positive support in the market amid the crisis. Compared to most stocks and assets which are heavily down right now, bitcoin sees some rises that no one expected to have since everyone is spending money and putting their assets elsewhere. Though that's the case, I wouldn't go so far as to calling this something as a bullish move. It might be just day-to-day normal market movements as was always the case with or without the crisis at hand.

I'm not sure the dollar crisis has ever really had anything more than a temporary boost to alternative markets, but I definitely prefer that correlation to anything else. It's nice to believe that people are fleeing the dollar to go into Bitcoin instead, but I think the libertarians today are very different from those in Bitcoin's conceptional stages.

So yeah, if we're seeing more money entering Bitcoin, it's because they're just spreading out existing assets. Hedge funds are seeing a boom right now, and Bitcoin's really part of that basket in most hedges now.

[figmentofmyass]

what "dollar crisis"?

month over month, nearly every asset in existence is significantly down against the dollar. cryptocurrencies, stocks, real estate, commodities, foreign currencies---you name it. even the DXY index is up 5% over the last 30 days.

leave it to bitcoin bulls to invent an imaginary "fiat crisis" to hype up their bitcoin holdings.