Pandemic: good for the bitcoin market or bad?

[J.Amador]

For me it is because people today are very affected in the pandemic many people lose thier job. Many people are desperate to find a sideline so they can afford to buy a food.So Im gonna recommend bitcoin to them because Im sure bitcoin can help them financially.

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[mezzaluna]

Pandemics are never for a good reason. All pandemics have negative effects and its harmful to the economy. However, the Pandemic has no notable impact on Bitcoin rather Alternate Cryptocurrencies were made to battle the effects of the Pandemic which is a good thing. Bitcoin's value was on already on the rise even before the outbreak continued and its still expected to grow its value despite in the middle of the Pandemic so I guess its still the same even without the Pandemic.

[Pamadar]

It can be good for bitcoin market because people are now desperate not to get infected with the virus so bitcoin will be useful for online transactions rather than face to face transactions which could make you infected with the virus.

With that point also business owners needs to adopt this system in order to  meet the clients needs.

We all knew that during this pandemic health is really the first concerns of every people who are facing high risk spread of covid-19.
They are fully aware that in anyhow they can be affected of this virus so using alternative ways where bitcoin and other crypto are being used by people who understand the chain. It's good from that point.

[The cure]

Pandemics are never for a good reason. All pandemics have negative effects and its harmful to the economy. However, the Pandemic has no notable impact on Bitcoin rather Alternate Cryptocurrencies were made to battle the effects of the Pandemic which is a good thing. Bitcoin's value was on already on the rise even before the outbreak continued and its still expected to grow its value despite in the middle of the Pandemic so I guess its still the same even without the Pandemic.

Yes, I'm also agree with what you said, for me the pandemic has nothing good done to all of us, in the history that since I was born I have only now experienced such an event in the complete collapse of the economies of many countries even rich and stable countries. However, I do not think bitcoin has been affected by this pandemic.

[Scripture]

Pandemic resulted to a big panic in the market especially on the early months of Pandemic all over the world and its not good on bitcoin market because we dumped that time but its finally good that we are slowly recovering from this pandemic and we are slowly pumping just like the old days. I don't see this pandemic make a big impact on the good side of the market, people are still suffering so its not good for me.

[FlightyPouch]

It can be good for bitcoin market because people are now desperate not to get infected with the virus so bitcoin will be useful for online transactions rather than face to face transactions which could make you infected with the virus.

Well, it is not always the case as there are a lot of peoole that are so desperate to earn for their family that they would risk theirselves so they would find a job. Most of them are not scared to get the virus since they still doesn't have it, but when they do, that is when they start blaming and fear what is happening.

[shoreno]

It can be good for bitcoin market because people are now desperate not to get infected with the virus so bitcoin will be useful for online transactions rather than face to face transactions which could make you infected with the virus.

Well, it is not always the case as there are a lot of peoole that are so desperate to earn for their family that they would risk theirselves so they would find a job. Most of them are not scared to get the virus since they still doesn't have it, but when they do, that is when they start blaming and fear what is happening.

i think he means to say people will convert thier money to btc but this does not mean that they will stop working but thier works can still continue 

.this works best if they are only working from home because they only get out when they are about to send or remmit money  but when they join btc they dont need to do that  . when your work is outside and not online , its useless to convert your cash to btc because your still going outside and your still prone to infection

[Eureka_07]

Pandemic resulted to a big panic in the market especially on the early months of Pandemic all over the world and its not good on bitcoin market <snip>

Actually if you will look at it, the covid-19 pandemjc did not affect bitcoin's market negatively.
The cause of last bearish for bitcoin was not because of the pandemic, there are a lot of factors that made it's prce to decline.
As of writing this post, bitcoin is almost at $13,000 (I'm excited to see bitcoin's value to increase even more).
Back to the original topic...yeah, I can't find any sign or proof to tell that the pandemic affected bitcoin negatively or even postively... I honestly can't see the correlation between these two.

[Marina5]

People are working from home at this pandemic situation. A lot of people will lose job for this pandemic situation. So, people are trying to find alternative of jobs. Many people are joining with CryptoCurrency. Already we are seeing that the price of Bitcoin is increasing.

[Shasha80]

If you look at Bitcoin's performance in 2020, I am increasingly convinced that the pandemic will not make the Bitcoin market worse.
But the pandemic is good for the Bitcoin market, the proof is that now the Bitcoin price has managed to go up to $ 12,900. So more
and more people are investing in Bitcoin. Moreover, the current situation requires a solution to be able to make money, and investing
in Bitcoin can be a source of income.

[tbterryboy]

People are working from home at this pandemic situation. A lot of people will lose job for this pandemic situation. So, people are trying to find alternative of jobs. Many people are joining with CryptoCurrency. Already we are seeing that the price of Bitcoin is increasing.

Yeah, there is also the reason that because people cannot move out they are seeking online opportunities and blockchain technology and crypto projects are on a rise because there is DeFi now that brings so many projects and gigantic amount of job opportunities even during these tough times and one thing I can proudly say is, one someone starts getting into bitcoin they never leave it. I mean even when people get their jobs back they will never stop using bitcoins.

The pandemic impact overall on bitcoins can't be stated clearly but it must be said that the positive impact was more favorable and the negative impact has already vanished if there was any possible.

[bits4books]

The only thing that should concern you when answering this question is whether you have enough money to live on to invest in cryptocurrencies for a long time (because we all know that Btc is always cheaper today than it will be in a month/quarter/year) and how critical it will be for you to lose these funds.

While the economy is unstable, you should take investment tests as a small hobby and not bring your plans to large amounts. Start with the fact that it will not be terrible to lose and the frustration of losing will be the same as from losing a completely empty wallet.

I think this is quite a good strategy both for beginners and for those who are now experiencing not the best times.

[worldofcoins]

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.

The pandemic impact on bitcoin values is certain Since US currency fell due to covid-19, and BTC expanded from July.
People use cryptocurrency during the lockdown and trade by sitting home.
They were free from their jobs, so they concentrate on bitcoins more than any other investment.
Almost every stock gets destroyed, but bitcoin still there and improving more.

[Natsuu]

As far as I observed, this pandemic, sorry not sorry, did a good job for the bitcoin market, as I see the price of each btc increases as time goes by.
This is for what I think because of the increase in popularity of the coin as the people get curious on how to earn while they are staying at home due to the covid 19. Who doesn't wanna earn while remaining safe from the said disease? no one right?
In addition, due to the curiosity given by the pandemic, people are now investing and investing in seeing that other fiat stocks are being destroyed whilst bitcoin are still hitting highrock price.

[AjithBtc]

This year growth has taken place as nothing has happened (covid-19). Based on the growth chart in comparison to the previous year we can have a clarity. As per the global stocks and forex market, everywhere there is drastic downward movement. With bitcoin things have taken place in the opposite manner, based on which we can't term the pandemic to be good or bad for bitcoin.

[BTCappu]

If you look at Bitcoin's performance in 2020, I am increasingly convinced that the pandemic will not make the Bitcoin market worse.

Well, it did but only temporarily when the prices went down crazy in March but that was only temporary and the way it has came back since then, it's appreciable and worth mentioning that Bitcoin is not a bubble as many analysts often term it as a bubble.

But the pandemic is good for the Bitcoin market, the proof is that now the Bitcoin price has managed to go up to $ 12,900. So more and more people are investing in Bitcoin.

The reason behind the rise is not pandemic though I am pretty sure the pandemic only had a bad impact and we might have seen the ATH by now if not for the pandemic.

the current situation requires a solution to be able to make money, and investing in Bitcoin can be a source of income.

I guess since the lockdown people tried out new things and crypto trading is one thing that got a lot of attention these days and maybe that is the reason why everyone is buying bitcoins as we got more and more traders.

[Anyobsss]

I guess since the lockdown people tried out new things and crypto trading is one thing that got a lot of attention these days and maybe that is the reason why everyone is buying bitcoins as we got more and more traders.

this is probably why bitcoin is pumping now. More and more people are engaging with crypto because of lockdown due to pandemic.

Seeing how bitcoin behaves now, I would say that the lockdown is good for the bitcoin market as this brought more people to do crypto trading resulting in a bitcoin pump.

[laredo7mm]

In theory the pandemic is good for bitcoin. In practice it's probably bad.

The economic effects of the pandemic highlight the deficiencies and inadequacies of fiat. Particularly the 'print more money to get yourself out of trouble' response. So in theory this makes a decentralised asset with a maximum supply an enticing proposition.

However... whilst bitcoin's long-term future may be as a safe-haven asset and a store-of-value, for the moment it is still widely seen as a highly speculative asset... a 'good times' option, something to throw some money at in the hope of astronomical returns. This also means that it's the first thing to sell when there are signs of economic trouble. So given that we haven't really yet seen the full effect of the economic woes from Covid, we should be aware that there is a chance that crypto prices may fall significantly. Or they may not... they've been quite resilient so far. All we can do is make our informed best guesses, no-one knows for sure what will happen.

Didn't it trigger the global adoption of Electronic money when experts confirm that viruses can be spread through paper cash also? Crypto prices may fall but it looks like crypto will be the primary financial institution. Maybe in a different form regulated by Govt.

[Inkdatar]

In times of a pandemic like this, cryptocurrency is one way to make money I guess. for example trading. But you may follow events or programs like those provided by the exchanger, for example staking or following projects such as Airdrop, mining can also be an alternative. because the current Bitcoin price is quite high, you can see some potential altcoin for example if you want to trade

This really shows that bitcoin opens an opportunity for those in need for those who uses this service. A lot of way to earn in bitcoin during this difficult times. Indeed in trading can also gives an opportunity to the users to earn btc.  So I can say this pandemic can be good in the bitcoin market as we already observe the growth happening, the massive adoptions that make the price increase.

[shata]

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 noticed, Bitcoin price dropped hard together with majority of the financial markets: stocks, forex, commodities, etc. The reason? You know it. Because of the pandemic COVID-19. But in fact, all of them especially Bitcoin drastically recovered months after that and still continues to do its job until now. Why?

Overall reason is because of pandemic and like a domino, slowly has chain reaction to everything related to it.

You named it, Dollars (DXY, Dollar Index). In this time, Government of USA keeps on printing money which is really bad for the country because the value of their currency will decrease and just to give them to people as part of their stimulus program. In this case has a direct effect to especially on Bitcoin and Commodities like Gold as they act as safe haven for people who do not want to hold dollars since they know its decreasing in value.