Pandemic: good for the bitcoin market or bad?

[int03h]

Bitcoin is an unofficial and limited currency. When a pandemic occurs, the cash flow does not circulate to economic sectors such as manufacturing and services, but it flows to other channels. Bitcoin is one of the channels through which money flows.
Recession is not good for the world economy. We still often see every economic recession, economic indicators decline due to cash flow withdrawn. This economic downturn, confusing cash flow is that they focus on US stocks. I am not surprised that bitcoin, gold and silver have risen rapidly since then.
I just noticed that during the pandemic, Bitcoin was a good non-cash payment means.

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[Majharul Saiif]

I speculate it's good for cryptocurrencies now time. Because of this pandemic duration, people can't depart outside for work, and abundant of their work on the outside is not authorized that's the crucial point of boosting online performers and people detailed their business or shopping through using online and digital money also. In this catastrophe, people get the chance to know about crypto and use it. There are many ways to earn in cryptocurrency. So this can be the reason for having a good time with Bitcoin.

[naikturun]

depending on the situation in various regions, if in your country bitcoin is legal and active every day a large enough volume of course will have an impact on the economy in that country, although not directly visible.
and will not have a bad impact on countries that still have not legalized cryptocurency.
there are advantages and disadvantages.

[Chrystora123]

if look at the global market then I see the Bitcoin market is very good in this "PANDEMIC"..  This "PANDEMIC" does not really disturb the interest of investors and traders to make transactions in the market, just look at the Bitcoin price in the last few months, Bitcoin price has stabilized in the range of $ 10k- $ 11k.  I have also seen some people who have lost their jobs or who are working at home trying to buy cryptocurrency as their initial investment..

[verita1]

Bitcoin has played an important role in the midst of the pandemic for people who have turned to it in search of earning an income. Due to the high unemployment that some countries are suffering. Take as an example this article published by Cointelegraph that refers to how the Egyptian economy in the face of recession is benefiting from trading and mining Bitcoin. It is an analysis that AI-Monitor revealed that young Egyptians are beginning to invest in cryptocurrencies.

https://www.google.com/amp/s/cointelegraph.com/news/bitcoin-use-rise-in-egypt-amid-economic-recession/amp

This must be happening anywhere in the world with the interest that people have in earning a new income with Bitcoin and cryptocurrencies.

[bekti3]

during times of international pandemics, Bitcoin became a protector against inflation, for the same reason as gold: limited supply. One of the main drivers behind the shine of Bitcoin is the combination of stability and flexibility it offers. In this context, it is encouraging that today investors do not only see crypto as a stable hedge against US dollar inflation.
if they only see crypto as a safeguard against a pandemic crisis it seems legitimate.

[7788bitcoin]

~
But even with this "slow" development in vaccine, I believe we will be seeing commercial covid vaccine by next year. Right now, if you want to invest, you need to assess of course your current financial situation. Can you afford to invest in a volatile market? How far can you go in investing in crypto?

You need to take into account the viability and the economic risk when you bet on a vaccine to come out next year and no one can give a guarantee regarding that and if the wave of virus keeps on returning it will be hard on the economy as well and if you take all these risk into account i would restrain from investing in any stock market for a while.

But even with pandemic, bitcoin didn't plunge much and now we are more than $11k. So I guess, the pandemic is more on the positive impact in crypto. More adoption I believe. As there are newcomers in crypto owed to the fact that people are looking for alternative payments or options for their investment funds.

The bitcoin market is holding up and the stock market is holding up as well as i expected a major crash in the stock market and that never happened till now but that does not mean that it will be able to hold like this forever.

~
And about with the pandemic, I haven't seen any connections that would change the entire market although I'm a little surprise when Trump news about having a Covid really changed the behavior both stock and crypto. So, I think it has a little connection to the market but the price just went up after a couple of days or more.

It is true that the stock market is behaving weird for a long time, when the pandemic was declared i was expecting the stock market to crash badly but that never happened but we know that the economy has slowed down considerably and the economic packages might be holding the market, prime example a positive result for the president had a reaction on the market while major production were put of halt and that is not evident in the stock market.

[Zeke_23]

Pandemic is good for the bitcoin market, but it does not actually affect the market. Instead, it actually helps as we can see its use than fiat in times like this. However, there's still a lot of people who do not see the value and the good use of bitcoin because of its background.

[dongduong]

There's a lot of money printed out, but it's economically slow. Maybe a part of it has been poured into the crypto market helping the market well. From my point of view !

[FlightyPouch]

If you take a close look at the cryptocurrency market, you can see that the pandemic had a negative impact on the performance of Bitcoin and other cryptos. We were expecting a big spike after the block reward halving in May. To this date, this spike has not realized and I believe that the economic downturn caused by the pandemic is one of the reasons for that.

There are some instances that the halving didn't create a positive effect on the value of bitcoin, I think we are still lucky that the price went up and it didn't dump. I don't know how bad are you thinking it is but I think it is one of the best scenarios to happen with the market. It did fell but it didn't even last for a month since it just went back up.

[ecnalubma]

The market thus not reflect the economic situation but if the series of lockdown continues then definitely the market might slowly experience hard time because businesses operations are disrupted. However during this time of crisis, the market shows strong and I believe it can withstand this situation.

[Mihaylovic]

i dont think bitcoin is so much affected from the pandemic. if we were in 2017 i think it would affect more. Nowadays bitcoin behaves similar to gold. If pandemic ends with a vaccine or sth, both gold price and bitcoin price may probably drop a bit but i dont think there will be a sharp decrease.

[Sapphire915]

Fortunately, Bitcoin remain so safe and stable in cryptocurrency market amidst of this Pandemic. And it gives more opportunity to anyone for investment. Others are right that this pandemic infavors the growth of crypto currencies, because of so many losses that we had in physical world, a lot of people are turning into digital world doing online transactions and other earning ways in blockchain platform. I guess, bitcoin will remain as it is and will never be affected with this pandemic as days goes by.

[iamsheikhadil]

Pandemic in general is bad for every type of economy and currency. People forget value of everything and puts their life ahead of everyone and everything. However, every tunnel has a light end, and after a pandemic, we see how we recover and the market recovers and everything. It's truly wonderful to see it when currency value goes up. Pandemic in its present is bad for any currency be it fiat or crypto but after pandemic when people recover, every currency goes up. So it's a very nice time to buy and store crypto and stocks!

[Simakura]

I thought it was a good day for bitcoin. Because many people stay at home and try to earn income without working outside the home They could have invested in bitcoin, and started a life of cryptocurrency, giving rise to many investors towards bitcoin. Another possibility is that due to the pandemic, Many people sell bitcoin out of necessity every day.

[FanEagle]

The economic situation has an indirect effect on the crypto market. We have seen the market somehow crash when the pandemic started but it recovered in the middle phase of it. I would say it is somehow favorable for crypto since most people had to get their cash out of stock market, and some must have jumped into crypto.

I do not agree with the fact that they had to take their money out of stock market but put it on crypto. If people needed money they took their money out of stock market but that means they used that money to survive, maybe they were too scared and bought like a ton of toilet paper and rice etc because they thought they wouldn't be able to go out at all.

Whatever the reason is they would actually end up with spending their money and that really caused the market to go down, crypto went down as well because people who would withdraw from stock market have no reason to go back into crypto, stock market was low so getting in at that moment would have made you a lot of money, so going to crypto for "safe haven" is not really a good option neither when stocks are that cheap and would recover (and did).

[CarnagexD]

<snip>so the pandemic is actually good for the Bitcoin market.

In fact, the Covid 19 pandemic oubreak and the Bitcoin's value and market does not correlate.
The pandemic never help nor negatively affect bitcoin, if there was, maybe affected with such low percentage, maybe less than 1%?

As what you just said, it's the stock market that undoubtedly crashed because of this pandemic.
Most of them (if not all) are dependent to the capability of people to buy or request for their products or services.
Covid 19 greatly affect that in a negative way.

Most that we can correlate between the two is the increase on the number of people who look for modes of earning. As unfortunate as it sounds that a lot of people lost their jobs during this pandemic, it also opened an opportunity for them to invest on things that they otherwise would just shrug off if they had the consistent income employment provides. So yeah, there's that, but price-wise? Nothing.

[Eternad]

i dont think bitcoin is so much affected from the pandemic. if we were in 2017 i think it would affect more. Nowadays bitcoin behaves similar to gold. If pandemic ends with a vaccine or sth, both gold price and bitcoin price may probably drop a bit but i dont think there will be a sharp decrease.

There are solid crypto users now unlike before that can easily be swayed by news. Now those who are nervous in every news regarding BTC are smarter now and already see how the market behaves properly, many uses  crypto also during this Pandemic as the crypto market can lead them into earning more as some investments were affected too much by these Pandemic all related to economic unlike BTC or crypto that is not totally affected now only just on the start of the quarantine but recovers faster than stock.

[Restmand]

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.

Crypto situation duting this pandemic began to active. Crypto last quarter of last year is not good and lots of my friends here in crypto stop working their bounty campaigns, stop joining airdrops. But when times of pandemic specially last August of this year, crypto market began to color green, how I wish I had enough capital to buy for bitcoins and ETh because it is so good to invest on these coins. A lot of crypto hunters are now working back again and lots of projects are in good value.

[kotajikikox]

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.

Crypto situation duting this pandemic began to active. Crypto last quarter of last year is not good and lots of my friends here in crypto stop working their bounty campaigns, stop joining airdrops. But when times of pandemic specially last August of this year, crypto market began to color green, how I wish I had enough capital to buy for bitcoins and ETh because it is so good to invest on these coins. A lot of crypto hunters are now working back again and lots of projects are in good value.

Meaning all bounty hunters from circle of your friends comes back last august?cool so i wonder how many scam project got employees again.


Yeah Cryptoworld got high demand this pandemic because of people are afraid being infected so they look for new materials to use
for trading and they found cryptocurrencies specially bitcoin.

Now we are in Boom market again as the community starts having many campaigns and bounties same as airdrops meaning that we
 are moving forward again.

but market won't increase bigger if you don't invest as added to the circulating amounts.