Covid-19 effects on Bitcoin

[joinfree]

Bitcoin halving has already occurred and yes COVID 10 has had a great impact on the economic progress of the entire world and this has certainly affected the price of bitcoin for quite sometime. Initially, it went down because no more money was being poured into the crypto industry but going forward, most people have cashed some savings from their fiat accounts to invest in cryptocurrencies.

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[DoublerHunter]

^ I dont know OP is where it is coming from, he even doesn't know that the halving has successfully occurred and that was on last month.
Both halving or let say bitcoin has no correlation about the pandemic, these things are both different but if you meant that, is this has an effect to the bitcoin price, I slightly say no. As we can see even pandemic was still going on but the price of bitcoin has an improvement that showed positive move on the price and did not dump too much. Nevertheless, this topic has been repeatedly discussed it here, you should simply search them.

[Nathanz]

I honestly think not. Bitcoin Halving that happened last May was expected already. I don't see any reason why Covid19 will have a significant effect on it since there were no special thing about what happened last May. It's just the Bitcoin Halving that will be happening again in 2024.

[kayvie]

Bitcoin halving was successfully done, even though the effect will not be seen right away because it might take a couple of months or even a year before we can see it. So, it is clear that Covid-19 has no effect to bitcoin, as you can see, the price of bitcoin was nearly reached the price of $10k again without any difficulties.

[stiffbud]

Will the upcoming Bitcoin halving be a non-event due to the state of the world economy affected by COVID-19 ?

I think you mean the Halving that already happened?
The next halving will be ETA 10 May 2024.... thats a long time, I sure hope Covid will be History by then!

The halving that happened in the middle of May 2020 kind of got overshadowed by Covid. No super high price bounce, but it wasnt about the price bounce for me, I was happy to see Bitcoin moving along.

I was a little scared to see the price falling at such a rapid rate back in march but thank goodness it was just a flash crash and the marker rebounded quickly. You are right in saying that the bitcoin block reward halving was overshadowed by COVID as there was news of COVID everywhere and everyone was afraid of what will happen next but thank goodness the government took control of everything and did an excellent job in mitigating the risk of the spread of this deadly disease. I believe that bitcoin price will rise in a couple of months just like the previous block reward halving and definitely COVID had an impact on bitcoin price before and after block reward halving that too in negative terms.

[cryptoangel]

Will the upcoming Bitcoin halving be a non-event due to the state of the world economy affected by COVID-19 ?

No, I think covid19 has suppressed the price, by saying that I mean I think the price would be higher now if the pandemic hadn’t happened but I think the worst is over now. If anything because of govs endlessly printing fiat it might have a really positive effect on the bitcoin price in the coming years.

The current suppressed of the price is investors, because COVID stay in a last 6 months of our world. But market pump and dump is totally different from the COVID-19. Bitcoin will going to moon on upcoming years so those are planning the long term investment Bitcoin is a perfect choice for current scenario.

[Antinass]

Nobody can predict what Covid-19 effects can do, due to the many economic and political consequences caused by such viruses, but it will certainly have an impact.
If the world witnesses a recession and a decrease in the prices of goods and services, many people will seem to think of solutions to save their investments and therefore will buy digital currencies that will lead in the future to increase the price.
The positive effect will be more than negative.