Pandemic: good for the bitcoin market or bad?

[romero121]

We can't make any confirmation regarding the pandemic and relate the same with bitcoin market beyond certain criteria. No one knows how the bitcoin market gonna change, because the growth isn't of limited features like demand to supply and limited availability. The market depends on more other speculative factors, news associated with cryptocurrencies and many more.

During the pandemic as a boosting to the bitcoin users the growth took place, while the stocks were crashing like anything. From big bag holders point of view it is good, and from person missing the chance of buying low find this bad. Because, everyone would've thought of making an investment by the crash.

[so98nn]

I am not sure why but your title and what you said in op is completely different. But anyways, in a broad perspective Pandemic has not done any worse for the crypto space. In fact people are more engaged in the crypto currency these days and I suspect it's all because they were at home and had plenty of time to spend on it. 

So yeah until now that's what situation everyone is carrying forward. Also, this has affected everyone in negative way in real world while neutrality exists in crypto space. That's my take on this one.

[el kaka22]

It is definitely not good, how could a pandemic that closes the whole world could ever be good for bitcoin.

I understand that some people think since it caused almost all nations to print more money that the fiat world will go down and that devaluation will cause bitcoin to go up, but you are forgetting that price of bitcoin is decided on supply and demand which means if people do not have any money due to pandemic the demand can't be high, supply doesn't change that much. So that means pandemic wasn't good for bitcoin at all, price was around $9k or so beforehand and now it is over $11k so we can see it like it is doing alright but we will never know if it would have been even bigger without the pandemic, since its a null point because pandemic happened and the alternative is unknown.

[shield132]

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.

If you see the charts and statistics, it clearly states that despite the pandemic, bitcoin didn't fall but continue to be stable and rise at the same time. So, I have no idea for what you have to wait to see? In any case, pandemic can't be considered as a good time for anything, even for bitcoin because there were a lot of bitcoin holders who had to sell bitcoin because they needed fiat or just money when they left out of income. We don't even know what would happen without pandemic, maybe we would see higher rise in price? Who knows...

[Yatsan]

It is hard to say whether this pandemic have brought a good or bad impact towards Bitcoin for that is really very crucial in nature. Yes, we have seen that there is an observable growth in terms of pricing that Bitcoin have obtained all due because people are switching from stock market going to the crypto market and putting in their assets from fiat going to crypto to save up their funds since the pandemic have a direct hit and effect towards stock market standing. Although it cannot be seen since people are focusing on the growth of Bitcoin brought by the pandemic, still this growth is considerably a negative one for who will enjoy the growth brought by economic crisis. Also, there is a big potential that small time investors might be pulling out their investments or selling their Bitcoins at lower price to sustain their necessities for daily life basis due to the negative impact of pandemic which causes loss of job and to be able to sustain daily needs selling Bitcoin at lower bidding price will be many people's choice especially for the new ones which will create a declination on the price of Bitcoin as long as people will keep on doing that on call to their situation amid with the pandemic. So basically, pandemic do have a positive and negative impact on Bitcoin that will also dependent on the people's perceptions on how he will see it.

[harizen]

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.

You should already see how bitcoin performs during the peak of the pandemic months ago.

On the other hand, the stock market falls as obviously, it took the direct hit.

Now for the question, if it's good to invest in bitcoin and stock, it should depend on how do you see the situation.

a) Bitcoin, as always, doesn't have the right time to make an entry as long as your strategy considers a certain point as good timing to get in.

b) The fall of the stock market can be considered as a good time for those who want to make an entry. They are waiting for this. It's difficult to imagine that the same bottom will be seen in the future unless another catastrophe will happen again around the globe.

[justdimin]

In theory, it's good for all the cryptos. Prices most probably will rise more.

Still, I prefer not to gain in this way. Cryptos are strong enough as a concept to 'win' over time and without suffering human beings.

But bitcoins did not made the people suffer not bitcoins are in any way behind the existence of the deadly corona virus, right?

If a particular negative incident causes benefit to other sectors or assets (I am not sure the virus did any good to BTC but in case it did) then it is just a co-incidence and we cannot blame bitcoins for that. This actually shows the robust nature of bitcoins that even in the worst times it stood strong and despite having a few hiccups we are not back in the right direction again.

I wonder how bitcoins are positively affected by the virus though? It's not like people become rich during lockdown and purchased tons of bitcoins right? So, people who are saying that BTC is positively affected by the virus might want to explain how that happened because I have only seen people selling their stuff and even investors were sedate during such times.

[Johnyz]

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.

The situation right now for a newbie is very difficult because the market can change the trend any time especially if there's a news. I'm not saying that you should panic, what I'm saying here is that you have to be more careful on investing and always do your research even if you plan to buy bitcoin. The pandemic doesn't affect the whole cryptomarket because there's a pump in the past months and that is a good side of a good market. You need to learn more, don't think negative and boost your confidence so you can know when to buy and sell cryptocurrency.

[slapper]

It is hard to say. I feel that this question is a little bit abstract. The market can not feel anything so it does not know whether it feels good or bad. Only us, investors, and traders who try to anticipate the price of bitcoin for profit are strongly affected by the pandemic. All I can say is that the market is healthy enough for us to make money during this event. And no matter how the price of bitcoin is, people still develop the technology and blockchain inside it for future purposes. Price is only an aspect of bitcoin which traders/investors concern about.

In my opinion, the market is quite good when we compare it with other assets. Look at oil during the pandemic. It dropped significantly without any barrier to hold it back. Bitcoin only lost 60% of its price and now, it has created the highest peak of this year. Many people are waiting for a next bull run in case you want to know

[Darkelf11]

~
 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.

To stop being ignorant, why not try engaging in bitcoin trading or stock trading? Through that you will get experience which will broaden your knowledge and initially remove some of your ignorance about it. I am sure you will get into it and will be good trader. Practice first, you can start with small investments for practice trading.

[FlightyPouch]

Based on what is happening right now, I could say that it is good for the market. It is said that since we will be experiencing inflation, people are tending to put their money into assets or investments that will not be affected by it hence people are putting it into crypto currencies, usually bitcoin because of the effect of the pandemic to bitcoin is not that much.

[grabpopcorn536]

The pandemic caused an economic slowdown because the cash flow in the real market (from industry and services) was stopped and it needed to be moved elsewhere. We have seen the gold, stock and Bitcoin markets increase in value during the pandemic, which is how money flows. I don't find it strange that bitcoin is bullish. But the post-pandemic problem is whether bitcoin maintains its growth or is sold off as quickly as other assets. Gold, for example, in 2011 reached $ 1900/ounce and then returned to $ 1100/ounce.
In the meantime I see this recession in favor of bitcoin.

[mu_enrico]

There two major forces to be considered: (1) monetary inflation and (2) GDP decrease or income reduction in general. Hence, the result will depend on the dominant force. This situation is also reflected in historical analysis when the (2) made the price dumps, and the (1) made the price rebounds. By the way, the market has recovered so that the price will swing between support and resistance line as usual.

I'd argue it's bad since if there were no pandemic, the price would likely higher than now.

[Nhor1011]

I think, the pandemic has a good impact to bitcoin market. From the start of lockdowns, bitcoins value are not going down and now it soar high again. That because many people now are investing in bitcoin. If you want to invest in bitcoin , just find a good timing to enter in the market to invest.

[Kasabus]

I think, the pandemic has a good impact to bitcoin market. From the start of lockdowns, bitcoins value are not going down and now it soar high again. That because many people now are investing in bitcoin. If you want to invest in bitcoin , just find a good timing to enter in the market to invest.

I also think that as well. Pandemic has usually caused so much troubles in all aspects in life but when it comes to bitcoin, it became an eye opener for people that bitcoin can be a good alternative currency once bank transactions with fiat is hard to perform. Not only that, bitcoin has also given lot of opportunities for those unemployed people who have special skills when it comes to crypto works. So this pandemic is not that bad at all for bitcoin.

[jacafbiz]

Pandemic is bad for Bitcoin, if not for the March sell off Bitcon would be higher than the current price it has now, so many people have lost their jobs and some have seen their income significantly reduce because of the pandemic, some people have sold their Bitcoin because they have lost their jobs and need money to take care of their family. Anything that will set the whole economy backwards is bad for BTC

[Oasisman]

I think, the pandemic has a good impact to bitcoin market. From the start of lockdowns, bitcoins value are not going down and now it soar high again. That because many people now are investing in bitcoin. If you want to invest in bitcoin , just find a good timing to enter in the market to invest.

I also think that as well. Pandemic has usually caused so much troubles in all aspects in life but when it comes to bitcoin, it became an eye opener for people that bitcoin can be a good alternative currency once bank transactions with fiat is hard to perform. Not only that, bitcoin has also given lot of opportunities for those unemployed people who have special skills when it comes to crypto works. So this pandemic is not that bad at all for bitcoin.

Nah, I think differently. Pandemic or not Bitcoin is bound to reach new heights and the price today isn't caused because of the pandemic. It's just that Bitcoin isn't affected by the pandemic like the stocks, obviously.
The only thing I could perceive something good for Bitcoin amidst this pandemic is that, people had enough time to read and understand cryptocurrency due to community lockdown, and everything else is bad.
The pandemic is actually bad for almost every aspect in our society and our lives.
You guys dont assume it's good for cryptocurrency. If you think Bitcoin gives opportunity for those who lost their job, remember investing into project, crypto trading, and other form of investment in crypto space needs enough time to understand to reduce the risks of lossing your capital. Don't expect these new people to crypto to generate profit as easy as selling basic necessities in the grocery.

[maxreish]

It somehow give a good effect when we are talking about the adoption and awareness. Those who were affected by pandemic were trying to seek other opportunities that's why they have chosen  bitcoin. But also, theres a bad impact.
 
  As you noticed, the market crashed longer than expected while we are on a pandemic stage, economic status also down. And the good thing right now is that we are all recovering from that.

[7788bitcoin]

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.

I will suggest you to wait for sometime before making a decision to invest in stock market or any government bonds as it is not the right time because the weak economy is held by stimulus packages and it is hard to estimate how long it could hold firmly. If you want to invest in bitcoin wait for a correction and invest and even if there is a recession i am sure it will hold firmly than the rest of the financial assets.

[barbara44]

In some ways it was good for bitcoins because people started using more digital payments and when we talk about digital payments somewhere the crypto factor always comes in the talk. I am not saying that suddenly people started paying their rent with bitcoins but there is more awareness now about bitcoins than before and more investors have come through like a company recently invested around $50m in bitcoins.

The negative impact though on bitcoins because of the pandemic was that a lot of people liquidated their digital assets to maintain liquidity in their stocks market and some even to survive and that is the reason we saw a crater kind of drop a couple months ago in March when people thought Bitcoins would die but that was only because a massive number of investors liquidated their assets.