Average Weekly Investment

[mk4]

But people investing in bitcoin because of the pandemic? Nah man. Sure there are some, but in the whole picture, I don't think so.

I disagree. BTC and other popular cryptocurrencies are useful cashless payment systems in these turbulent times which is why it makes sense why many people are investing in crypto currently. The halving event also helped to an extent.

The halving aside, that doesn't make sense either. If people would want cashless transactions, they would use PayPal/Venmo/CashApp/mobile banking/etc. Again, the last thing a person who just lost a job would do is to buy something that could easily crash in price in days.

It's pretty delusional to think that people would want bitcoin solely because of the disinterest in physical cash.

[Cnut237]

In my opinion it is normal to see a soar in average weekly investments in Q1 2020 that's because of two factors
The covid-19 pandemic and the bitcoin halving

The halving, sure. But people investing in bitcoin because of the pandemic? Nah man. Sure there are some, but in the whole picture, I don't think so. People have been losing jobs, and I don't think them putting money in a speculative asset is a realistic expectation.

Agree that bitcoin is at present a highly speculative asset for investment during the 'good times', and the first thing that people pull money out of at times of crisis... but... we can't deny that the current global economic situation is throwing a harsh spotlight on the fiat system and its inadequacies. I would be surprised if this wasn't making more people understand the inherent strengths of bitcoin and take a punt on its long-term future as a (negatively-correlated) safe-haven. Not so much 'normal people' who are losing jobs and experiencing financial insecurity - but if I was a millionaire with traditional assets all over the place, I'd certainly be taking a look at crypto right now for at least a percentage of my portfolio.

[davinchi]

Past events are what's making people invest huge money into Bitcoin right now. A lot of people believe that the Halving is going to trigger another bull run to start, so that's why they are rushing in and investing lots of money. The hype wasn't this much in the past years when halvings occurred, but because the Halving has occurred twice and after those two there was an increase, people now believe that it's going to be the same after the third Halving since supply will be cut short. So, they are trying to secure a spot before it's late for them.

I guess pandemic is playing a negative role here when considering about the price levels of bitcoins. I guess if there would have been no covid10 outbreak and there was no lockdown, we might have been enjoying bitcoin prices at least 20% higher than the current market prices. Hope, things will settled down in coming weeks so that bitcoin start its another historical bull run.

[dunfida]

In my opinion it is normal to see a soar in average weekly investments in Q1 2020 that's because of two factors
The covid-19 pandemic and the bitcoin halving

The halving, sure. But people investing in bitcoin because of the pandemic? Nah man. Sure there are some, but in the whole picture, I don't think so. People have been losing jobs, and I don't think them putting money in a speculative asset is a realistic expectation.

Agree that bitcoin is at present a highly speculative asset for investment during the 'good times', and the first thing that people pull money out of at times of crisis... but... we can't deny that the current global economic situation is throwing a harsh spotlight on the fiat system and its inadequacies. I would be surprised if this wasn't making more people understand the inherent strengths of bitcoin and take a punt on its long-term future as a (negatively-correlated) safe-haven. Not so much 'normal people' who are losing jobs and experiencing financial insecurity - but if I was a millionaire with traditional assets all over the place, I'd certainly be taking a look at crypto right now for at least a percentage of my portfolio.

Thats "What if" situation but we know on whats the reality which would crossed out that kind of possibility thats why i dont also believe that the current pandemic is surely the cause.
I would rather believe on that halving thing because majority do know that possible fomo can happen on pre-halving or even on post ones but look at we now? Price hasnt started to cling
up but at least we are still on 2 quarter of this year which means its too early to give some conclusions towards market condition but actually that graph shows that there are still
lots of supports behind in the community.