Coronavirus lock down boosts

[Onuohakk]

In spite of the lock down, and thousands of death caused by coronavirus in Russia. There has been a sharp increase in bitcoin trading volume across Russia. The number of registered users in Binance during April 2020 was two times higher than December of 2019.
Source: https://cointelegraph.com/news/coronavirus-lockdown-boosts-bitcoin-trading-in-russia

With this kind of development in Russia, are we to expect a big price movement not only in bitcoin but to altcoin generally 

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[mk4]

With this kind of development in Russia, are we to expect a big price movement not only in bitcoin but to altcoin generally  

More traders mostly means more market liquidity, but not necessarily big price movements whether in the upside or downside. That is, if we assume that most of them are in Binance to trade, not necessarily to buy and hold. I'd be more bullish if we're talking about platforms where people mostly buy(and not trade) like LocalBitcoins; as Binance is mostly an altcoin casino.

[kryptqnick]

In spite of the lock down, and thousands of death caused by coronavirus in Russia. There has been a sharp increase in bitcoin trading volume across Russia. The number of registered users in Binance during April 2020 was two times higher than December of 2019.
Source: https://cointelegraph.com/news/coronavirus-lockdown-boosts-bitcoin-trading-in-russia

With this kind of development in Russia, are we to expect a big price movement not only in bitcoin but to altcoin generally 

I don't think it's surprising since during the lockdown people tend to spend more time online and trading cryptos might seem like an opportunity to earn money.
However, if it's just one country, it's not likely to make s difference on global scale. And with these small regular sell and buy orders it might indeed have little impact on the price, like mk4 pointed out. In any case, it's good that bitcoin is not being forgotten during these hard times and that more people are joining the market.

[so98nn]

This is supposed to happen since most of them are in the house and has nothing to do. Many of them are not getting salaries and some of them are getting paid half of the wages. I guess it is pretty sure thing most of them are now trying new ways of earning money. Then comes the bitcoin which is untouched by thousands of people due to no time or less trust on it.

As everyone is seeing bitcoin staying steady no matter with what the world is suffering, they think it's solid exchange deal.

I'm saying this based on multiple examples around my area. It's try your luck situation for many and have some sorta passive income.

[sunsilk]

It's a good news if they've got doubled the registered users since the compared month. The pandemic has made people to look for a way to trade while being at home and this is a positive news at least for me. But it doesn't mean that it will actually make the market into bull run together with the altcoins.

I'd like to absorb that the crypto traders or investors are becoming more this time and the impact might not be so quick to be seen. But in the long term, there will be.

[nelson4lov]

I'm not convinced that this should be considered a boost. Currently, People are at home (and don't have remote jobs) desperate to get a means of survival  as workplaces and firms are on a lockdown. It's not surprising to see people turning to online opportunities like trading digital currencies like Bitcoin in a bit to earn money. I'm curious though; if majority of these people got into bitcoin thinking the price would skyrocket real soon. What happens if it doesn't pump as they expect? Would they sell their coins on Binance and move on? In times like this, I'm more concerned about continuous and substantial growth in Bitcoin's metrics.

[Reid]

Does the number of registered users in Binance tell how many people will buy bitcoin?
I don't think so. They could just be lurking around or they possibly trading altcoins.
How do you define Binance?
An exchange with a lot of altcoins registered. Right?
The article looks like they are just connecting dots.

[Jating]

Obviously, as people stay in their house and find ways to make money, perhaps they found out that crypto trading could potentially gave that to them. And as a result number of registered users skyrocketed, and I'm sure Binance is not the only one seeing this kind of growth.

However, it doesn't equate to the price increase per se, we don't know if they are mostly trading bitcoin or altcoin. And there could be people losing money as well, that's why the growth in users is not felt in price.

[bitcoinst]

The number of registrations does not mean that growth is waiting for us in the future.  
It makes sense to focus on trading volumes which at Binance in May reached a record level of $ 16 billion.  

By the way, such record volumes were already observed in 2018 when Bitcoin reached the mark of $ 20,000, volumes reached a record mark of $ 11

Binance continues to set records along with other major exchanges, and this is fine despite the static market for the last two months.

[dothebeats]

People need something to make money with, and bitcoin is readily available to accomplish just that. However, even with a spike in trading volume and registered accounts on an exchange, I'm afraid that it wouldn't be enough to start something massive and sudden just like the 2017 bull run. It might be a precursor, yes, but with the state of things across the globe, this hope is immediately shut down. Most of them are trading for some profit--to cash out, and not necessarily invest long-term so I doubt there would be something that can be built on that, honestly.

[arwin100]

In spite of the lock down, and thousands of death caused by coronavirus in Russia. There has been a sharp increase in bitcoin trading volume across Russia. The number of registered users in Binance during April 2020 was two times higher than December of 2019.
Source: https://cointelegraph.com/news/coronavirus-lockdown-boosts-bitcoin-trading-in-russia

With this kind of development in Russia, are we to expect a big price movement not only in bitcoin but to altcoin generally 

Not surprising at for the global lockdown happening in the world and all most all of the people have no job since the establishment is close for a while due to the threat of covid-19 for sure people will find ways to earn some money just to be used for their daily needs or they find another form just to make their earnings consistent that's why we see some great boost for the price of bitcoins compare to the past dump happening.

But I don't expect to see a big pump right now since we sti doesn't know if that increase creates demand since we don't know maybe some of new people are just curious on what is happening on crypto industry.

[Rengga Jati]

if we know facts about the increase of people involved in the crypto world (especially Bitcoin) during this pandemic, how can the government plan to ban crypto in their country? Let's read this good news:

Gleb Kostarev, head of the representative office of Binance in Russia, explained that the number of registrations on their platform during April 2020 was two times higher than in December of 2019.

In fact, the registrations are two times higher, so, what to be doubt about the crypto in that country?

As we know, several days ago, the Russian ministry slammed bill to ban crypto. Well, I think that they should hear what experts say, what exactly needed by the people in that country, not banning crypto.
https://news.bitcoin.com/russian-ministry-slams-bill-to-ban-crypto-easy-to-bypass-creates-black-market/

And related to the increasing number of people trading BTC in this pandemic, it can be the wisest, easiest, and also the worthiest thing to do. It is better, much better than going somewhere and risking fo the virus. The interest of the Russians in crypto has been since long time ago. many projects come from this country, many people are also growing significantly involved in the crypto world. Not only trading bitcoin but also other crypto activities.

Source:
https://cointelegraph.com/news/coronavirus-lockdown-boosts-bitcoin-trading-in-russia
https://news.bitcoin.com/russian-ministry-slams-bill-to-ban-crypto-easy-to-bypass-creates-black-market/

[Assface16678]

That kind of adaptation will give more market profit to the market price of the bitcoin because according to OP there are a large number of people now registered in binance but the problem is they are going to use and buy a lot of bitcoin or there are other reasons why they use the trading platform. Still, there is a mass adoption on it and there is a chance those people want to save their money and use the bitcoin as the safe haven of investment.

if we know facts about the increase of people involved in the crypto world (especially Bitcoin) during this pandemic, how can the government plan to ban crypto in their country? Let's read this good news:

Gleb Kostarev, head of the representative office of Binance in Russia, explained that the number of registrations on their platform during April 2020 was two times higher than in December of 2019.

In fact, the registrations are two times higher, so, what to be doubt about the crypto in that country?

As we know, several days ago, the Russian ministry slammed bill to ban crypto. Well, I think that they should hear what experts say, what exactly needed by the people in that country, not banning crypto.
https://news.bitcoin.com/russian-ministry-slams-bill-to-ban-crypto-easy-to-bypass-creates-black-market/

And related to the increasing number of people trading BTC in this pandemic, it can be the wisest, easiest, and also the worthiest thing to do. It is better, much better than going somewhere and risking fo the virus. The interest of the Russians in crypto has been since long time ago. many projects come from this country, many people are also growing significantly involved in the crypto world. Not only trading bitcoin but also other crypto activities.

Source:
https://cointelegraph.com/news/coronavirus-lockdown-boosts-bitcoin-trading-in-russia
https://news.bitcoin.com/russian-ministry-slams-bill-to-ban-crypto-easy-to-bypass-creates-black-market/

Even they used the platform still the volume of the market of the bitcoin will going to the binance because that is the platform they are using and some of the losses will go to their funds. If they will continue using bitcoin there is a chance of having a lot of projects because they already saw the benefits of the bitcoin that may use for improvement and faster transactions on their country.

[Twentyonepaylots]

This is supposed to happen since most of them are in the house and has nothing to do. Many of them are not getting salaries and some of them are getting paid half of the wages. I guess it is pretty sure thing most of them are now trying new ways of earning money. Then comes the bitcoin which is untouched by thousands of people due to no time or less trust on it.

I also think that the lockdown is a factor in the growing community of cryptocurrency, we already seen some huge user growth from the coinbase and binance exchange so most probably the quarantine might be our chance to prepare for a skyrocket this year. What I think is that people are giving shots on cryptocurrency since crypto has been on the news for quite long, they must have been curious about it and so they tried. I hope they get the point of the cryptocurrency tho.

As everyone is seeing bitcoin staying steady no matter with what the world is suffering, they think it's solid exchange deal.

From the past months of having this pandemic, my personlal opinion on bitcoin is that it is not that affected by it in general.

[maydna]

Boost bitcoin trading in Rusia doesn't mean that we will see or expect the big price movements, but I think that while the lockdown happens in many countries, people cannot go out, and they stay at home. They try to search for another way to make money, and they know or learn about bitcoin trading, and they register at the exchanges.

Besides that, if the boost only happens to binance, I don't think that would trigger the price to have a big pump because the bitcoin market is not just Binance. But we can hope that can give a chance for bitcoin to increase the price slowly, and soon, the bull run for bitcoin will come.

[danherbias07]

Are we still bringing up hope for the altcoin industry? 
Me? I just left it there.
True that I am expecting some changes but it goes longer, days of checking become weeks and then months.
Some days you would just not care anymore.

That is good news that many people are getting into crypto but I would still not put my hopes up in altcoins.
With bitcoin, not a problem.

[lepbagong]

Are we still bringing up hope for the altcoin industry? 
Me? I just left it there.
True that I am expecting some changes but it goes longer, days of checking become weeks and then months.
Some days you would just not care anymore.

That is good news that many people are getting into crypto but I would still not put my hopes up in altcoins.
With bitcoin, not a problem.

It is very painful to hope that there will be improvements to the altcoin project but it does not go according to what is there. You are right to say that there has been a pandemic blame to make checks run slowly and always delay so that the time is uncertain. it is indeed a very painful fact happening at this time. the beginning of the current year actually gave rise to new hopes, but now it is not going according to expectations, unfortunately many people blame the pandemic situation to benefit themselves. but I hope and wait that there will be improvements even though it might be quite long.

[Slow death]

With this kind of development in Russia, are we to expect a big price movement not only in bitcoin but to altcoin generally

russia is a strange country or maybe their political system is strange or else the number of people who are interested in cryptocurrencies is too small to be enough to put pressure on russia's politicians and leaders

in the past I read this:

Russia Proposes 2M Rub Fine and 7 Years in Jail for Illegal Crypto Use

I note uncertainty which way russia will take, For this reason, I think people in Russia who like cryptocurrencies are very brave to keep using cryptocurrencies and fight for the Russian government to accept cryptocurrencies. Earlier this month, russia led global BTC trading at LocalBitcoins

[Ridwan Fauzi]

Basically yes, bitcoin and even most of altcoin prices based on supply on demand. It means, if the demand against bitcoin is increasing then we will expect the price of bitcoin will increase as well. But we have to see the amount of capital that will be spend by new user, if they just spend a little money then we will not see the huge increase price happen. Usually, the retail trader only spend $100 for their capital.

Yeah this is a good news for crypto currency sphere and has pointed out that crypto currency is being accepted by most people. The investment place or trading place is not crypto currency only, even crypto currency has been stamped as a dangerous way to be choosen based on several information that spreading but seem like it is not happen anymore. We could expect sooner or later crypto currency will be popular again and much in demand by many people throughout the world.

[DoubleEdgeEX]

It´s a thing of trust. No gold standard means no major currency is based on a commodity anymore but just on the trust of its users. Do you trust your government to handle the situation well? It seesm, a lot of people get doubts these days and look for alternatives

[bearexin]

In spite of the lock down, and thousands of death caused by coronavirus in Russia. There has been a sharp increase in bitcoin trading volume across Russia. The number of registered users in Binance during April 2020 was two times higher than December of 2019.
Source: https://cointelegraph.com/news/coronavirus-lockdown-boosts-bitcoin-trading-in-russia

With this kind of development in Russia, are we to expect a big price movement not only in bitcoin but to altcoin generally 

I have been seeing some analysis that the price will break the $9000 range to $10,000 soon. Saw that analysis around last week, but the price has been circling $9,400 for quite some time now. I do know that the growth will be from one stage to another but right now bitcoin markets seems like too calm which must be a good sign before another wild rally. So, expect a strong bull rally incoming days.

All this while that people are staying home, a lot of them might have thought of what they should be doing to make money while they are at home and Bitcoin would have been one of the thoughts that came to their mind. And adding that a lot of people lost their jobs because of this Coronavirus, they will definitely need something to keep busy and make some money while they look for another job.

[winterlemon912]

In spite of the lock down, and thousands of death caused by coronavirus in Russia. There has been a sharp increase in bitcoin trading volume across Russia. The number of registered users in Binance during April 2020 was two times higher than December of 2019.
Source: https://cointelegraph.com/news/coronavirus-lockdown-boosts-bitcoin-trading-in-russia

With this kind of development in Russia, are we to expect a big price movement not only in bitcoin but to altcoin generally 

The lockdown can literally boost the number of tradings and also the number of users because lockdown tends all the peoples to stay at home and it makes the people focus on doing crypto currency so that they can earn without going outside of their house. I am not focusing on crypto currency and im just holding a coin but when the lockdown started to be applied, I started to trade and to mine so that I can earn even if I am inside of our home.

[verita1]

I also consider that it is good news because without a doubt Bitcoin is being an alternative for the trade of digital Assets in Russia. Being popular, crypto traders can increase their work from home.
This evidence is pointing out that people are looking for alternatives to generate a job or a new income.

[Harriti]

In spite of the lock down, and thousands of death caused by coronavirus in Russia. There has been a sharp increase in bitcoin trading volume across Russia. The number of registered users in Binance during April 2020 was two times higher than December of 2019.
Source: https://cointelegraph.com/news/coronavirus-lockdown-boosts-bitcoin-trading-in-russia

With this kind of development in Russia, are we to expect a big price movement not only in bitcoin but to altcoin generally 

yeah that is possible. because the bitcoin halving event is one of the key events and affects the whole market. and when the stock market and business are no longer good people will use money to invest in something more potential. Bitcoin may not be growing now, but the lack of supply will help it grow sharply in the near future. That's why so many people are participating in this crypto market.

[davis196]

In spite of the lock down, and thousands of death caused by coronavirus in Russia. There has been a sharp increase in bitcoin trading volume across Russia. The number of registered users in Binance during April 2020 was two times higher than December of 2019.
Source: https://cointelegraph.com/news/coronavirus-lockdown-boosts-bitcoin-trading-in-russia

With this kind of development in Russia, are we to expect a big price movement not only in bitcoin but to altcoin generally 

Are we to expect a big BTC price movement because of Russia?
Do you think that Russia had any impact over the Bitcoin and altcoin prices during the last few years.?
I don't think so.Then why should we expect some major crypto price boost coming from Russia?
If some Russian oligarch becomes a crypto whale and buys Bitcoin-definitely yes,Bitcoin might go up.
If more Russians signup to crypto exchange platforms and start trading-most likely no.
By the way,how the hell did Cointelegraph track the nationality of the people,who created accounts in Binance?Did Binance publicly announced that more Russians joined the platform?

 

[Kakmakr]

I have a friend in Russia and he says the lockdown has given them more time to trade now, so with him being home more now.. trading has become his full-time job now. He says a lot of his friends has also done the same now and it is becoming somewhat of a trend now in their area.

He says day trading will go down again, once "lockdown" restrictions have been lifted and more people would return to work and then have less time to day trade. He lives in Moscow and it was the epicentre of Russia's outbreak, so people are still scared to go out and prefer to stay home and do work from home. (including day-trading)  

[NavI_027]

I do know that the growth will be from one stage to another but right now bitcoin markets seems like too calm which must be a good sign before another wild rally. So, expect a strong bull rally incoming days.

Yeah I also love the calmness that we feel at this moment because it's favorable for a long term hodler like me lol. It was less stressful compare to a roller coaster ride-like rally . Don't get me wrong, I also want a price hike but I'm just hoping it will not happen suddenly. Like what you've said, step by step process is much better. However, I don't feel that bullish days will come on the next few days. I don't know why I say so, just a gut feel I think. Hmm maybe the price will go up slowly but I am not expecting that it will finally break the $10k mark. So for now let's continue observing.

[btc_love]

It's pretty funny to see an increase in the number of people from Russia, given the fact that we have more and more restrictions on crypto. Even access to this site is officially blocked, which is why I have to log in here using a VPN.

[Kelvinid]

It's pretty funny to see an increase in the number of people from Russia, given the fact that we have more and more restrictions on crypto. Even access to this site is officially blocked, which is why I have to log in here using a VPN.

Because people will find a way to get in and start trading just like you did.  Besides, not only in Russia the surge of trader's volume but it also happens in the other country. This pandemic and the lockdown had a positive impact on online business, online gambling, and much more gives a huge impact on crypto. We thought that it has a negative impact to us at the start but it seems to have a big opposite as what we observe by now. Instead, it helps people to adopt crypto and more people are engage into trading.

[KrisAlex18]

I think it should be expected, as of his pandemic virus, we are now jobless and for us to earn money while we are at home is to be more focused to online activities, there are many people who know about crypto world and because they have so much time because of the pandemic, they tend to do some crypto activities like hodling, trading and investing which results to the bitcoin inflation.
The more users the more liquidity but it doesn't mean that the price will go up as well.

It's a good news if they've got doubled the registered users since the compared month. The pandemic has made people  look for a way to trade while being at home and this is positive news at least for me. But it doesn't mean that it will actually make the market into bull run together with the altcoins.

I'd like to absorb that the crypto traders or investors are becoming more this time and the impact might not be so quick to be seen. But in the long term, there will be.

Well said, that is one of the effects of this pandemic virus, there are many people who became more active in cryptocurrency which makes some movements on the graph of bitcoin.

[bitcoinst]

It's pretty funny to see an increase in the number of people from Russia, given the fact that we have more and more restrictions on crypto. Even access to this site is officially blocked, which is why I have to log in here using a VPN.

Because people will find a way to get in and start trading just like you did.  Besides, not only in Russia the surge of trader's volume but it also happens in the other country. This pandemic and the lockdown had a positive impact on online business, online gambling, and much more gives a huge impact on crypto. We thought that it has a negative impact to us at the start but it seems to have a big opposite as what we observe by now. Instead, it helps people to adopt crypto and more people are engage into trading.

Yes, but is this the cryptography we want to see? Of course, the contribution of online to the adoption of cryptography cannot be overemphasized, however, people still associate cryptocurrency with speculation. Speculation in online casinos and speculation on trading, we add to this the opinion of drugs and dark net and so on.
People will be much more willing to accept cryptocurrency if it will bring real benefits, and make people consistently richer, which is the problem now.

[Oasisman]

With this kind of development in Russia, are we to expect a big price movement not only in bitcoin but to altcoin generally 

Looking back from the 18th of June up until now, the price remains the same. That because traders usually doesn't make any significant price changes no matter how big or small the number of traders are, specially that they are selling Bitcoin for other alts and vice versa in a short period of time.
I'd rather say more long term hodlers buying Bitcoin will help boost the crypto market with a significant massive price movement. Majority of the alts in the marker are following Bitcoin's price, So I guess everything will pump once Bitcoin is mooning anyway.

[suzanne5223]

With this kind of development in Russia, are we to expect a big price movement not only in bitcoin but to altcoin generally 

Looking back from the 18th of June up until now, the price remains the same. That because traders usually doesn't make any significant price changes no matter how big or small the number of traders are, specially that they are selling Bitcoin for other alts and vice versa in a short period of time.
I'd rather say more long term hodlers buying Bitcoin will help boost the crypto market with a significant massive price movement. Majority of the alts in the marker are following Bitcoin's price, So I guess everything will pump once Bitcoin is mooning anyway.

Every utilized altcoin in the market always follow Bitcoin market trend after halving have happened and the reason why the price of the narket remain the same no matter the seriousness of traders is because those that ought to hold their investment in other to help boost the price of the market decide to manipulate it.