Covid-19 and Bitcoin

[Latviand]

Coronavirus has made us stay home for months now, Bitcoin's price rised while most stocks crashed. Bitcoin's price rise probably has something to do with Coronavirus, People are staying home, buying things online to avoid contact with other people. My question is are more people being initiated to Bitcoin and are Bitcoins scams more frequent because of covid-19?

People are spending a lot of time in their houses and surfing the internet all night and day.

It is more likely that they are exploring where they can make profits while staying at home and probably some of them will learn how to engage with cryptocurrency.

With that, as business are not allowed to operate, this bitcoin will become profitable for them if they invested their time to it. Bitcoin's complexity is not always easy to understand that's why as soon as possible, as this quarantine can take more of our days and months, we should grab the opportunity to benefit from it.

Bitcoins scams do happen because scammers are intelligent and they know that people will engage more on digital currencies such as bitcoin. That's the downside of manipulating bitcoin as your asset, that's why we need to become aware about scams.

[bitbunnny]

I don't see the connection of.Bitcoin price and COVID -19. I the begininig of pandemic Bitcoin price didn't rise, just the opposite we had a price correction. Yes, people are staying home more and buying online but many of them don't use Bitcoin or other cryptocurrencies for shoping but fiat money and their credit cards. Many merchants still don't want to accept Bitcoin and that hasn't changed during pandemic. Maybe people got more interest for Bitcoin but since there is no official numbers and statistics that can't be proven.

[Salauddin1994]

Bitcoin's price is rising due to increasing demand. Bitcoin prices fell sharply in the beginning due to the effects of Covid-19 but due to the lockdown most people are turning to online work, which is why Bitcoin's popularity is rising and prices are rising. Covid-19 had no effect on Bitcoin. Prices are rising not just by buying things online but by investing. If we study the market well we will be able to survive from scams Covid-19 and Bitcoin will usually depend on ourselves.

[Jating]

Bitcoin's price is rising due to increasing demand.

This is true, the basic economic principle, law and supply and demand. And if not for the covid-19 pandemic, we may have seen the price in the $14k'ish by now.

Bitcoin prices fell sharply in the beginning due to the effects of Covid-19 but due to the lockdown most people are turning to online work, which is why Bitcoin's popularity is rising and prices are rising. Covid-19 had no effect on Bitcoin. Prices are rising not just by buying things online but by investing. If we study the market well we will be able to survive from scams Covid-19 and Bitcoin will usually depend on ourselves.

Because many are scared and people need cash on hand. That's what many liquidated their stash in anticipation of the pandemic lockdown. But since then, this new norm redefine everything including our way to invest. So it's either bitcoin or some precious metals. And bitcoin is so resilient, and we have pass the test on the pandemic and even if the problem is still with us, the price today seems not affected by the negative news.

[Shasha80]

I agree that if Bitcoin is linked to COVID-19, indeed Bitcoin price is not affected by the COVID-19 pandemic. With a vaccine that has
not been invented and the spread of COVID-19 that is still ongoing, the Bitcoin price is not dumped. But on the contrary, the price of
Bitcoin is increasing, this is because many people trust Bitcoin more as a store of value. Although the adoption of Bitcoin has not been
going well, because people prefer paypal and internet banking for online transactions.

[lebregone]

I really experienced talking to scammers and ask why they are doing it. There simple answer to it is that, they have no other option
in their country but to run a scam scheme just to survive.

Many investors are shifting their assets to crypto currencies especially that stocks are dying as of the moment because of covid 19 pandemic.
And with regards to your question, there is a big chance that scams not only related to bitcoin will likely to grow because of the current pandemic.

[femi-yoghurt]

I doubt if it’s the COVID-19 that’s making bitcoin price shoot up
If it were so, it would have risen a long time ago
We were in a season of recession even before coronavirus came in
I just think everything has its season
And this is bitcoin season
It hasn’t really risen much
But I wish  it rose high and high

[Eugenar]

Many topics have been created linking these two, the pandemic and the market price of Bitcoin. But clearly, there's no direct relationship between these two variables.
The market has started to make an uprise movement last month but the pandemic has started earlier so, relationship is already invalidated.

I agree that if Bitcoin is linked to COVID-19, indeed Bitcoin price is not affected by the COVID-19 pandemic. With a vaccine that has
not been invented and the spread of COVID-19 that is still ongoing, the Bitcoin price is not dumped. But on the contrary, the price of
Bitcoin is increasing, this is because many people trust Bitcoin more as a store of value. Although the adoption of Bitcoin has not been
going well, because people prefer paypal and internet banking for online transactions.

This is I think, invalid. The trust of people towards Bitcoin has no relation with the spreading of tbhis virus so how come Bitcoin is link with this pandemic? There's no absolute reason why the market price is increasing at this point because volatility is just in nature of cryptos. Yes, it has something to do with the demand but not merely dependent with this thing called "trust".

[Yatsan]

There is no proven significant relationship between the Coronavirus and the price behavior of Bitcoin for a couple of months we are in the pandemic period. Well, it is true that people tend to stay indoors because of the implementing community quarantine but it does not duly support the claim that because of this people are gaining interest on engaging into Bitcoin. Maybe some finds their interest on learning about it but not all are engaging into it. People do still have lots of options present to earn while we are all into this pandemic so the claim that the rise is because people are staying indoors making the price rise is not duly significant to support such claim.

Fraudulent acts with relations to Bitcoin is always present even with or without the pandemic because scammers and hackers are always up into doing their schemes. But maybe because many people are in need of money and doing desperate actions, scammers are more active at this time of pandemic victimizing people to get along with their schemes to obtain their money for their own good sake. The key is just simple, always remember that there is no instant way of earning money by just putting it up into an investment and just expecting a big profit to come along.

[Yudhisthir]

There is no proven significant relationship between the Coronavirus and the price behavior of Bitcoin for a couple of months we are in the pandemic period. Well, it is true that people tend to stay indoors because of the implementing community quarantine but it does not duly support the claim that because of this people are gaining interest on engaging into Bitcoin. Maybe some finds their interest on learning about it but not all are engaging into it. People do still have lots of options present to earn while we are all into this pandemic so the claim that the rise is because people are staying indoors making the price rise is not duly significant to support such claim.

Fraudulent acts with relations to Bitcoin is always present even with or without the pandemic because scammers and hackers are always up into doing their schemes. But maybe because many people are in need of money and doing desperate actions, scammers are more active at this time of pandemic victimizing people to get along with their schemes to obtain their money for their own good sake. The key is just simple, always remember that there is no instant way of earning money by just putting it up into an investment and just expecting a big profit to come along.

Stated just everything that came to my mind.

One of the reason for rise in interest on bitcoin could be the new trade war. The world seems to be dividing into two separate economic blocs. And maybe bitcoin could be the only bridge to join them.
There were many scam attempts relating to covid. Some claimed to raise money for support to the medical staff, patients and even the vaccine development. Some even provided fake insurance. There were 10s of covid related ICO which even got some attention.

[affandi]

It seems that the increase in the price of bitcoin has nothing to do with Covid-19, in fact in my opinion the increase in the price of bitcoin is due to the increasing number of people who believe in bitcoin. here, to avoid direct contact with other people and buy goods online, it is enough to use a credit / debit card and other online payment systems, because bitcoin is not too familiar here. for the problem of fraud, in my opinion bitcoin is only a victim of criminals who use cryptocurrency, because when people hear about cryptocurrency, the main spotlight is BITCOIN.

[AniviaBtc]

Maybe yes because corona virus affecting our economy I think that's the reason why bit coin price rised and most stocked crashed.And about frequent scam because people are too desperate to earn money in this situation to buy thier food. They don't how to earn money because they losses their job already because of covid-19. Corona virus have a big impact in our economy and our world.

That's the main problem, urging to earn profits but they are too ignorant for it.

Although people are trying their best to earn money and sustain their needs this quarantine, they should not be so aggressive if they see something that can be a tool for scamming. Especially those links and offers that will give you an easy money, 100% they are scams. There's no such thing as an easy money in this world, especially in cryptocurrency industry. This Covid-19 pandemic really brought a lot of struggle and panic nowadays, so as much as possible, learn to study first before pursuing something that is a legit profitable work for you.

[LogitechMouse]

My question is are more people being initiated to Bitcoin and are Bitcoins scams more frequent because of covid-19?

With your first part of the question, maybe there are more people which are getting involved to Bitcoin right now than normal but not that much since people can still use Bitcoin even though there is still virus or not.

With the second, scams are always there with or without the virus and it is hard to say if Bitcoin scams are more frequent right now. Its just that scammers are taking this opportunity for them to scam people using the virus. I can't say that it is more frequent right now but we all know that there are still scammers who are scamming newbie investors.

[Botnake]

Maybe you are correct, at this time that the pandemic makes our economy unsecured, people are looking for an investment to hedge their money and crypto is one of the best option for them. I'm not saying that the reason for the price increase is the massive adoption but it's just because of few people who have good amount of investment that are willing to risk their money in crypto believing it could save its value.

I believe bitcoin will have a strong finish this year, probably a new high will be witness but we should not be surprise with that as bitcoin has been bullish for at least almost a month already, I guess.

Some believe that it's not because of the pandemic, but for me I believe it's timing of being bullish is the reason why it's because of the pandemic.

[LimLims]

Coronavirus has made us stay home for months now, Bitcoin's price rised while most stocks crashed. Bitcoin's price rise probably has something to do with Coronavirus, People are staying home, buying things online to avoid contact with other people. My question is are more people being initiated to Bitcoin and are Bitcoins scams more frequent because of covid-19?

According to me Bitcoin doesn't rise up due to COVID.
Rather i can say the price has affected due to us.
Normally the price of Bitcoin increases when the demand of the coin is more and the supply is less.
Yes we can conclude that COVID has made people sit in the home, for which they are browsing internet and discovering new things.
Bitcoin is also the possible result of this.
Moreover as more people are spending their time in quantine, they are getting scammed by falling into the scammer's trap.
Nevertheless let's hope for the best and wish every thing to be normal once again.

[Assface16678]

Right now the bitcoin is one of the most popular coins because from the previous month of fall down it gives a good marker income again into just a few months right now the bitcoin is not yet supported with the use of this kind of payment but soon I think this will be.

Today while the people are still on their housed and some of them want to earn even on their houses to do that they need to find out some platform support their needs. Also, the scammers take their move too they need to grab the opportunity to make earnings too and this is the right time. Most of the projects today are now are scams with the use of the bitcoin.

Always make research on the platform you want to dive into.

Maybe you are correct, at this time that the pandemic makes our economy unsecured, people are looking for an investment to hedge their money and crypto is one of the best option for them. I'm not saying that the reason for the price increase is the massive adoption but it's just because of few people who have good amount of investment that are willing to risk their money in crypto believing it could save its value.

I believe bitcoin will have a strong finish this year, probably a new high will be witness but we should not be surprise with that as bitcoin has been bullish for at least almost a month already, I guess.

Some believe that it's not because of the pandemic, but for me I believe it's timing of being bullish is the reason why it's because of the pandemic.

There is a chance that the market price of the bitcoin will become one of the most successful coins among others and this is the good thing, some of the people now are holding a lot of coins and some of them are making an investment and transfer their funds because they earned profit. Take care of the market of the bitcoin are still volatile, invest at your own risk.

[budi691]

This pandemic has indeed made everyone worse off by economic factors, the increasing bitcoin makes everyone think Bitcoin has something to do with Covid19, even though that is not true at all, because bitcoin was predicted earlier this year will increase, and maybe because there is this pandemic it will be new now. bitcoin will go to the moon..

[Rana590]

It is true that people are now using bitcoin more and for this reason price of bitcoin is increasing rapidly. It is obviously positive for us but we should more conscious about using of bitcoin to avoid scam.

[pankowri]

Coronavirus has made us stay home for months now, Bitcoin's price rised while most stocks crashed. Bitcoin's price rise probably has something to do with Coronavirus, People are staying home, buying things online to avoid contact with other people. My question is are more people being initiated to Bitcoin and are Bitcoins scams more frequent because of covid-19?

I don't think so. It is true that most of the country's stock getting crushed in this pandemic outbreaks. In the meantime, Bitcoin price is getting increased. This is not due to this pandemic so far. In 2017, there was no virus affected that time but BTC price getting increased and broke all the previous records. So, it a regular thing to me.

[YOSHIE]

My question is are more people being initiated to Bitcoin and are Bitcoins scams more frequent because of covid-19?

I'm not sure Covid-19 triggered the current Bitcoin price hike, I tend to believe it has more of an impact on the currently weakening dollar.

There are many reasons for the Bitcoin price to creep up.
1. Investors prefer Bitcoin to invest in safe assets.
2. Investors have more confidence in and believe Bitcoin is a place to protect a good investment value against the current dollar, etc.

That's a factor in my opinion, the price of Bitcoin is currently increasing. Covid-19 is not an obstacle for investors to invest, On the other hand, investors are more afraid of a weaker dollar, so bitcoin is the alternative and current investor choice.