Pandemic: good for the bitcoin market or bad?

[mezzaluna]

Many countries experienced covid-19 over 7 months now that is causing economy collapse and,hardship in the country. Despite the the pandemic bitcoin still improve in the areas of pumping that is still making some investors wondering about BTC.
Market is well okay, many investors are very busy to supply their coins to market and make a good profit. Bitcoin is better than other cryptocurrencies right now because it rising and other cryptocurrencies is going down show bitcoin is a good condition.many people where thinking bitcoin will follow other cryptocurrencies to reduce but surprised to see BTC rising in in the exchange market.I think bitcoin is better than the way it was over two now.

I think that's because currently many people are starting to develop digital currency and starting to reduce the use of paper money because so far as I know the virus is also stuck on paper and can make the virus more widespread, when using digital currency transactions become safer, especially Again Paypal has accepted transactions for bitcoin so more and more will use bitcoin and it is safer to use for transactions.

But then again, there are a lot of online wallets that could do the same that don't actually accept crypto currencies. In our country we have Paymaya, we also have Gcash which is an online wallet where people could use to pay online or send money online. It is not always best for crypto but it is a great time for them to start its adoption.

PayMaya and Gcash is only available in the Philippines and applying Cryptocurrencies within them is not suggested since Coins.ph is already available. They cannot start adopting Cryptocurrencies because not everybody is knowledgeable regarding Cryptocurrencies which is why Coins.ph is already enough to be a payment system that has Cryptocurrencies.

[FlightyPouch]

But then again, there are a lot of online wallets that could do the same that don't actually accept crypto currencies. In our country we have Paymaya, we also have Gcash which is an online wallet where people could use to pay online or send money online. It is not always best for crypto but it is a great time for them to start its adoption.

PayMaya and Gcash is only available in the Philippines and applying Cryptocurrencies within them is not suggested since Coins.ph is already available. They cannot start adopting Cryptocurrencies because not everybody is knowledgeable regarding Cryptocurrencies which is why Coins.ph is already enough to be a payment system that has Cryptocurrencies.

If we will just base on coins.ph, I think that would just limit our choices, right? Not all of us could verify to coins, to be honest, it is easier to verify on Gcash and Paymaya that is why it is better in these two. There are a lot of users of Gcash and also Paymaya since it is also used in Smart Padalas in our country, if they accept bitcoin, we could just use bitcoin to do these transactions which could also make other people use it.

[redsun114]

In general pandemic is bad for the economy, but for bitcoin market it's good now. People buy gold in times of business uncertainity and fear, bitcoin considered as crypto-gold. They are very much correlated.

Right but during bad times and especially during pandemic times people sell their assets they saved in good times which was the reason why Bitcoin went down earlier this year as people sold their assets and digital assets (bitcoins).

Nothing in the world is going well because of pandemics. Everything seems to have stopped. I think for this Pandemic, bitcoin is also having an adverse effect. I don't think it's right to invest now. Let a few days then a good decision can be made. Now your wish. You can invest if you want

That is how most of us were thinking but people who somehow invested in BTC when it went down to 4k earlier are now laughing at the market.

Overall impact was neutral in my opinion but the way market swung during these times was crazy and pandemic might not be the only reason, the sharp upward movement recently might also be a product of the Paypal adoption.

[CODE200]

But then again, there are a lot of online wallets that could do the same that don't actually accept crypto currencies. In our country we have Paymaya, we also have Gcash which is an online wallet where people could use to pay online or send money online. It is not always best for crypto but it is a great time for them to start its adoption.

PayMaya and Gcash is only available in the Philippines and applying Cryptocurrencies within them is not suggested since Coins.ph is already available. They cannot start adopting Cryptocurrencies because not everybody is knowledgeable regarding Cryptocurrencies which is why Coins.ph is already enough to be a payment system that has Cryptocurrencies.

If we will just base on coins.ph, I think that would just limit our choices, right? Not all of us could verify to coins, to be honest, it is easier to verify on Gcash and Paymaya that is why it is better in these two. There are a lot of users of Gcash and also Paymaya since it is also used in Smart Padalas in our country, if they accept bitcoin, we could just use bitcoin to do these transactions which could also make other people use it.

The question is, are you willing to use Bitcoin directly as a mode of payment to pay bills? because I would probably not. I do prefer to just hold it because there is a possibikity for a price increase which will generate profit. I would more likely pay using fiat despite of the convenience this technology is giving to us. Also, fees are high compared to exchanges which makes it a downside for me. Small amounts matter and as long as the price of Bitcoin is not stable, there will always be people having second thoughts of spending their holding even at times of pandemic.

[Wulan_maniez]

Good day,
forgive a newbie question please. I am new on the bitcoin scene and I am also pretty fresh in economics. I am learning, I suppose that is what I wanted to say. I was an ignorant for a way to long and now I trying to gain knowledge to be a little wiser. I got a bit lost because of the pandemic and I wonder is it good to invest in bitcoin and stock market nowadays or should I wait and see what is the market response going to be. I was pretty sure I got a hang of it but the situation changes so dynamically that it is hard for me to follow.

We can see the market is now very good for bitcoin than since you created this thread, bitcoin has been up almost 38% throughout the month of October.
If you have bought bitcoin since then you have benefited, guys!! But I am aware because you are a beginner at investing in cryptocurrencies.

Naturally, if you are still in doubt because crypto fluctuations are very high.
Today the price of bitcoin reaches $13,709 in 24 hours. This situation is pure because of high demand.

[Savemore]

Despite of the current pandemic, the price of the bitcoin is continuing to become expensive. At first there is a dump when the pandemic begins but that emotion which is fear turned into greed and it is the reason why the demand to bitcoin is keep rising. The cryptocurrencies are looking good especially the bitcoin while the stocks and indices in the U.S. are in bad condition because of the pandemic and also they are now in the final week of election where there is also fear and the selling pressure is high. In terms of altcoins, there are a lot of altcoins became undervalued when the pandemic starts.

[proTECH77]

Many investors always come back with good news about bitcoin price in the market. Despite the lockdown that collapsed so many organization in the country, bitcoin still stand well by maintaining it value during the period.
Many people who where holding their coins for market to change hand later found it easy to sell their coins with big reward. Every good investors will truly know that bitcoin market is good compare to what happened to other cryptocurrencies that reduce during the pandemic.

[Xinarae*]

Bitcoin's market was much better during the epidemic to think the epidemic is a lot better for the bitcoin market. Although many people have suffered financially by investing in Bitcoin they have been able to solve their financial problems very easily. The market is in a much better position so far most people have opted for crypto because everything was closed during the epidemic. Has made a lot of profit by investing and the demand for crypto is increasing.

[lienfaye]

Bitcoin's market was much better during the epidemic to think the epidemic is a lot better for the bitcoin market. Although many people have suffered financially by investing in Bitcoin they have been able to solve their financial problems very easily. The market is in a much better position so far most people have opted for crypto because everything was closed during the epidemic. Has made a lot of profit by investing and the demand for crypto is increasing.

Well at first it has a negative impact to the crypto market because many investors panic sell due to FUD and most of us need money to spend during lockdown. However the situation didnt last long because the market manage to bounce back in few months. This might be because of the investors engaging themselves in crypto while we're in lockdown, looking for an opportunity to earn online. Currently bitcoin is moving upward so if you buy during those times wherein the market is in bearish status then you probably earn by this time.

[qwertyup23]

Good day,
forgive a newbie question please. I am new on the bitcoin scene and I am also pretty fresh in economics. I am learning, I suppose that is what I wanted to say. I was an ignorant for a way to long and now I trying to gain knowledge to be a little wiser. I got a bit lost because of the pandemic and I wonder is it good to invest in bitcoin and stock market nowadays or should I wait and see what is the market response going to be. I was pretty sure I got a hang of it but the situation changes so dynamically that it is hard for me to follow.

Generally, you would want to check the prices of stocks before you delve in the cryptocurrency world. As what I observed, several blue-chip stocks decreased on its price due to the pandemic. Many investors considered it as a golden opportunity to purchase these stocks and take advantage of its low price.

As for bitcoin, a month ago its price was at the $10,000-$11,000 range and currently, the price sits at $13,000~. The pandemic is actually good for the market in general and you would want to take advantage of it.

[Saisher]

It's good for the market surprisingly because when the pandemic hit the news, there was a big crash, but the market eventually recovers and it's now doing great in the market so I can say that Bitcoin is doing great because the other investment market is not doing good, it just shows that whatever happens Bitcoin and Cryptocurrency is here to stay.

[Dsdaq]

The covid-19 pandemic has led to an unprecedented economic crisis, analyst asserted that cryptocurrencies are attractive because there is still very little correlation between them and traditional investments.

[justdimin]

Pandemic is both good for bitcoin market and also bad for it. The thing about the price is the fact that we are talking about increase of demand but we are not talking about adoption enough and that is what I would have loved to see in bitcoin.

Paypal started to accept bitcoin payments during this period and this is a great addition to crypto world but that is about the extent of the adoption we went with for the past 8 months.

We could have convinced a lot more companies to start accepting bitcoin, specially places like amazon where they saw a huge increase in purchase numbers due to people not going outside, could have actually gone with crypto acceptance and we would have been a lot higher in price as well because of it. So, it was good but not good enough if you ask me.

[AndySt]

It's good for the market surprisingly because when the pandemic hit the news, there was a big crash, but the market eventually recovers and it's now doing great in the market so I can say that Bitcoin is doing great because the other investment market is not doing good, it just shows that whatever happens Bitcoin and Cryptocurrency is here to stay.

Everything is not so good, because the second wave of the pandemic is coming and there is no clarity how the traditional market and the cryptocurrency market will react to this event. The previous market recovery was due, among other things, to the summer decline in the growth of coronavirus cases and the subsequent resumption of economic activity. Let's hope for the best, but negative options in the form of a collapse in the exchange rate of bitcoin should also be borne in mind.

[sayaya17]

The concern sparked by the coronavirus did not have a serious impact on the crypto-asset market, which had fallen in price. In fact, the crypto market can grow nicely until this second. It’s different from what happens in the stock market.

The widespread of corona has had a very sharp impact on both domestic and international stock markets.
The uncertainty caused by the coronavirus caused a high panic in investors, which caused the stock market to be at the Lower Auto Reject level.

To save its financial assets, many stock market investors also turn to bitcoin, even those willing to buy more bitcoins. This leads to high demand for bitcoin.
Even large companies like Paypal have dared to adopt cryptocurrency.
Because of the optimism towards bitcoin, causing the opportunity to invest in bitcoin will remain the best investment option.

[ShowOff]

The concern sparked by the coronavirus did not have a serious impact on the crypto-asset market, which had fallen in price. In fact, the crypto market can grow nicely until this second. It’s different from what happens in the stock market.

Very different from what people say. They believe that the pandemic has resulted in various problem in the economic, stock trading and cryptocurrency sector. But in fact we have evidence that this is not true as the cryptocurrency market continues to grow and price continue to rise. The stock market and other may have been affected due to the pandemic and its impact on the economy is quite large, but I believe the cryptocurrency market has become a new destination for investor turning away from the stock market.

In this situation, I think investors should have the courage as well as the ability to do a good analysis of the goals they will invest in next such as bitcoin. Everything related to investing still carries risks, but the risks are higher with cryptocurrencies and they have been warned from the start and should consider it.

[best2015]

Good day,
forgive a newbie question please. I am new on the bitcoin scene and I am also pretty fresh in economics. I am learning, I suppose that is what I wanted to say. I was an ignorant for a way to long and now I trying to gain knowledge to be a little wiser. I got a bit lost because of the pandemic and I wonder is it good to invest in bitcoin and stock market nowadays or should I wait and see what is the market response going to be. I was pretty sure I got a hang of it but the situation changes so dynamically that it is hard for me to follow.

Its not a newbie thing to ask those questions - its the way you decide to answer it.
Give it a research, don't believe people here.
Moreover, you won't find anyone who has experience with crypto during pandemics and lockdown - it just never happened.

[Ayiranorea]

It's good for the market surprisingly because when the pandemic hit the news, there was a big crash, but the market eventually recovers and it's now doing great in the market so I can say that Bitcoin is doing great because the other investment market is not doing good, it just shows that whatever happens Bitcoin and Cryptocurrency is here to stay.

Everything is not so good, because the second wave of the pandemic is coming and there is no clarity how the traditional market and the cryptocurrency market will react to this event. The previous market recovery was due, among other things, to the summer decline in the growth of coronavirus cases and the subsequent resumption of economic activity. Let's hope for the best, but negative options in the form of a collapse in the exchange rate of bitcoin should also be borne in mind.

Nothing to worry about the second wave of pandemic, because for the first wave of pandemic people and the governments weren't prepared for it. Now each and every country has created awareness and precautionary measures. Upon the same everything has begun to function normally. With this we can be sure that the bitcoin market isn't gonna affect the world market as the beginning days of pandemic.

[LogitechMouse]

It will depend on who you will ask for.
If you will ask an investor who bought Bitcoin last March then definitely he will say that Bitcoin is good during the pandemic because his money is now more than tripled. The exact opposite will be the answer of the one who didn't bought in Bitcoin and possible that he suffered some losses these past months.

Pandemic really bad for bitcoin market, especially token, I've lost more than 500 dollars during this period.

Probably you invested in an DeFi project and got lost.
Possible too that you invested at a wrong time and because of fear, you cut loss .

[Lorence.xD]

This pandemic is very good for the bitcoin market, it is proven that currently, the price is rising so fast I think the current market is in a positive condition and the volume is getting higher. Not only that, the attractiveness of investors is getting bigger at this time of the pandemic, bitcoin is increasingly known and is the center of attention today.

If you were to ask the right person in regards to topic, they will say that it depends. The quote above shows that the person might already have a bitcoin hold and the prices rising right now is a good thing for that person. If you are new and it is your first time in buying bitcoin then this is not the good time for you. The second statement might be half truth though because you might hitch right now and luckily you have gained a profit because the market is volatile, we will never know when will it go up or down. The final decision is up to you, it is your money that you are going to invest after all.