Pandemic: good for the bitcoin market or bad?

[hahay]

One thing that must be known and one of them is, the increase in bitcoin is greatly influenced by the growth of its users and the more people who use and adopt it will have an impact on the increase in bitcoin.
During this pandemic, many new people got involved in bitcoin and they started to realize the benefits of bitcoin during the pandemic and they made bitcoin or other crypto as an alternative source to make money, by investing, trading and other ways to get it.

Considering the fact that fiat is starting to be used less due to the threat it imposes upon being able to transfer virus to its holder makes it a great opportunity for bitcoin and other crypto to become more convenient and safe at the same time. Not only you can purchase using crypto, you can also earn money without physically touching it. At this times, we maybe witnessing a transition that is quite unnoticeable wherein cryptocurrency is slowly taking over the world given the instance of safety and precaution when we talk about money. The benefits also are way more better than fiat's that is why many people are starting to patronize the use of it.

Not sure if bitcoin and other cryptos are taking over the function of fiat, as even banks are continuing to carry out their own transformations by customizing digital transactions. That way, transactions with physical contact can still be avoided with digital payments. The bad impact or not caused by the pandemic for the bitcoin market remains and cannot be avoided, if you reminded it in last March at least it was the panic in the bitcoin market. There will always be good and bad repercussions from every situation that occurs, I'm just not sure whether the increase that happened at the end of this year was due to the pandemic or not, because even the value of any asset recovered at the end of this year and not just about bitcoin market.

[samputin]

Indeed, due to pandemic the bitcoin is pumping. We need to stay at home to avoid pandemic, also we need to work and need to earn money. Online business is the answer and the crypto currency is the one who fill our needs. Also some businessman (like companies, countries and investor) need to earn. This is the reason why the bitcoin value is very huge they investing in cryto currency over investing on their business. As of now the bitcoin is good due to alternative source of income which is bitcoin influence in our market.

[FlightyPouch]

Indeed, due to pandemic the bitcoin is pumping. We need to stay at home to avoid pandemic, also we need to work and need to earn money. Online business is the answer and the crypto currency is the one who fill our needs. Also some businessman (like companies, countries and investor) need to earn. This is the reason why the bitcoin value is very huge they investing in cryto currency over investing on their business. As of now the bitcoin is good due to alternative source of income which is bitcoin influence in our market.

Bitcoin is a great alternative source of income to some of us but I don't think it would be the same with other people especially those that are illiterate when it comes to these types of technologies. Another thing is that they rather work instead of investing their money in crypto currencies. Not because they don't trust cryptos, but because they can't trade or invest just like us.

[Argoo]

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.

I'm surprised that it turns out good for the market, I thought the market will crash big time, everyone was worried but it managed to bounce back, thanks to the whales and industry leaders, they made a big difference of supporting the market during it's bad times, right now it's still doing good in the market and soon the pandemic will be over, I like the scenario after we are back to normal.

We can say that the coronavirus pandemic has had an ambiguous impact on cryptocurrency. Overall, however, it turned out to be more positive than negative. First of all, the forced isolation and the impending threat of large inflation and even the global economic crisis made people more interested in cryptocurrency, and governments to look for an alternative to cash, which turned out to be carriers of the coronavirus.
It cannot be said that the current high growth of the cryptocurrency market was achieved only thanks to the coronavirus pandemic, however, a certain share of success belongs to it.

[SUPERSAIAN]

The pandemic has definitely had a positive effect on the cryptocurrency ecosystem, I think it will give positive results as long as the pandemic continues.And in this case, people have restricted money spending and are looking for ways to fully protect and increase their money, ultimately turning to cryptocurrencies.

[Stedsm]

The pandemic has definitely had a positive effect on the cryptocurrency ecosystem, I think it will give positive results as long as the pandemic continues.And in this case, people have restricted money spending and are looking for ways to fully protect and increase their money, ultimately turning to cryptocurrencies.

May it had a positive effect, it made many lose their lives. So, please don't "pray" for this shit to continue anymore just because the greed of human beings have risen up to a new level, but we should expect that this pandemic just gets out of this world and should open up wider opportunities for almost everyone out there to earn a buck. And yes, its effect was seen on all the crypto when big names came out calling BTC in their portfolio.

[AmoreJaz]

The pandemic has definitely had a positive effect on the cryptocurrency ecosystem, I think it will give positive results as long as the pandemic continues.And in this case, people have restricted money spending and are looking for ways to fully protect and increase their money, ultimately turning to cryptocurrencies.

May it had a positive effect, it made many lose their lives. So, please don't "pray" for this shit to continue anymore just because the greed of human beings have risen up to a new level, but we should expect that this pandemic just gets out of this world and should open up wider opportunities for almost everyone out there to earn a buck. And yes, its effect was seen on all the crypto when big names came out calling BTC in their portfolio.

we are already starting to contain this virus as the world starts rolling-out the vaccine. we dont need this to continue. a lot of people already opened up themselves to crypto owed to lockdown last year. thats more than enough for the humanity.
and up until now, people or institutions are continuing to recognise the capability of btc or crypto. companies are starting to integrate crypto in their payment system. so yeah, we dont need this virus to continue wreaking havoc to the humanity

[Stedsm]

we are already starting to contain this virus as the world starts rolling-out the vaccine. we dont need this to continue. a lot of people already opened up themselves to crypto owed to lockdown last year. thats more than enough for the humanity.
and up until now, people or institutions are continuing to recognise the capability of btc or crypto. companies are starting to integrate crypto in their payment system. so yeah, we dont need this virus to continue wreaking havoc to the humanity

Agreed, but you can't disagree to the fact that the need to shift to a different asset class to store our money (for the unknown ones who didn't knew about crypto before this pandemic) took place when they saw that now, even cash (Fiat paper money) cannot be kept handy because every country was forced to implement some level of digitalization of money which drew people's attention to Bitcoin and other cryptocurrencies and made them believe that if they'll keep their fiat money digitally stored in their bank accounts, it'll still be the same amount even after 10 years but that's not the case with cryptocurrencies because while being a store of value, crypto's high-edged volatility gives us an opportunity to let our money grow while being put inside a chip or few chunks of crypto.

[Twentyonepaylots]

In actuality, the pandemic should've been very bad for the market, with people losing jobs left and right, and cashing out of money an imminent threat yet an understandable one due to the fact that they have lives to sustain, Bitcoin should've dropped dead way back 2020, which it almost could've, knowing that March was when bitcoin dropped to $6000. But larger companies came in and pumped the value of the coin, which severely affected the price for the better, and that's where we are now.

[LUCKMCFLY]

At the beginning of the pandemic, it must be taken into account that Bitcoin fell, but it is normal, panic in the market caused such behavior, not only in Bitcoin, but all markets, except gold.

Time later, specifically a few months, they began to see Bitcoin as a safe shelter, and people liked the investment in Bitcoin and Gold, than any other action or currency. The causes can be many, perhaps confinement in the home made many begin to see the Bitcoin market as a real option for investment, some to do trade.

People began to have more confidence and still in pandemic is that a series of events have been generated that have brought new ATH market.

[sniveel]

As of now, we can say that bitcoin and other cryptocurrencies are doing well despite we are facing a pamdemic. People have so much time staying in their homes and mostly of them are findings some good opportunities online, and trading or investing in crypto/s is one of their chores online. People also uses crypto as a way of payment in gettings services online.

[Vishnu.Reang]

The pandemic seems to be good for the market. My stock portfolio is up by at least 20% compared to the pre-pandemic levels. Here the real estate prices have risen by 20% to 30% during the last 12 months. Cryptocurrency has risen by 400%. Only bullion seems to be going down. Even the bank interest rates are going up (which was expected after all the stimulus measures announced by the government).

[geegaw]

At the beginning of the epidemic people were going through a lot of crises that had a devastating effect on the crypto market. But later people realized that by investing in crypto they could tackle their problems for which the demand for crypto has increased in the epidemic is good for bitcoin people have gained a lot of knowledge about Bitcoin and made a lot of profit for investing which has helped people to recover from their financial problems and the country's economy.

A pandemic is a very sudden event and causes a lot of loss from the property and families of many people, and the work of many organizations is also affected, creating a very strong economic downturn, crypto currency is also affected significantly when investors withdraw capital to offset the effects of the downturn. But luckily, as you said, when the need to make money online becomes a hotspot, crypto has no small advantages, as soon as the economic bailout packages are fully provided to everyone, crypto becomes better than ever in a pandemic.

[Distinctin]

The pandemic seems to be good for the market. My stock portfolio is up by at least 20% compared to the pre-pandemic levels. Here the real estate prices have risen by 20% to 30% during the last 12 months. Cryptocurrency has risen by 400%. Only bullion seems to be going down. Even the bank interest rates are going up (which was expected after all the stimulus measures announced by the government).

While other form of investment is going down and of course our economy is affected a lot, people find a way to protect their money and that is by investing in crypto. The good thing for those who really understand is that crypto is a good store of value for your money, choose bitcoin, hold and wait and experience what we experience now. These investors are smart, they know how bad the effect of the pandemic to our economy, hence they will always try to find ways to minimize the risk of their investment and bitcoin has been a good option.

[uneng]

At the beginning of the pandemic, it must be taken into account that Bitcoin fell, but it is normal, panic in the market caused such behavior, not only in Bitcoin, but all markets, except gold.

Time later, specifically a few months, they began to see Bitcoin as a safe shelter, and people liked the investment in Bitcoin and Gold, than any other action or currency. The causes can be many, perhaps confinement in the home made many begin to see the Bitcoin market as a real option for investment, some to do trade.

People began to have more confidence and still in pandemic is that a series of events have been generated that have brought new ATH market.

Without doubts this pandemic was good for bitcoin market. It gave the impulse that was faulting to level crypto market up. I think it happened due to the fact traditional investments starved during 2020, at least in my country, especially fixed income investments which were all surpassed by inflation, while variable income had some difficult time to stay above inflation, although it was better than nothing. It means people holding fiat lost patrimony value last year and it probably incentived many investors to put their money in bitcoin to protect it against inflation and fiat devaluation.

[worldofcoins]

Pandemic is useful for bitcoins; as of late, Coronavirus impact positive on bitcoin's market.
I know the market is steady; however, it didn't tumble down. Numerous individuals took a rest in-home and made a day trade with bitcoins.
There was no occupation duty or any family issue government was taking care of everything.1
I think during the pandemic, individuals focus on bitcoin and help the market to remain stable. I give my unsurpassed to bitcoin's exchange, and I procure embrace benefit.

[carlfebz2]

At the beginning of the pandemic, it must be taken into account that Bitcoin fell, but it is normal, panic in the market caused such behavior, not only in Bitcoin, but all markets, except gold.

Time later, specifically a few months, they began to see Bitcoin as a safe shelter, and people liked the investment in Bitcoin and Gold, than any other action or currency. The causes can be many, perhaps confinement in the home made many begin to see the Bitcoin market as a real option for investment, some to do trade.

People began to have more confidence and still in pandemic is that a series of events have been generated that have brought new ATH market.

Without doubts this pandemic was good for bitcoin market. It gave the impulse that was faulting to level crypto market up. I think it happened due to the fact traditional investments starved during 2020, at least in my country, especially fixed income investments which were all surpassed by inflation, while variable income had some difficult time to stay above inflation, although it was better than nothing. It means people holding fiat lost patrimony value last year and it probably incentived many investors to put their money in bitcoin to protect it against inflation and fiat devaluation.

Im in neutral i could say because this market isnt really that affected even though most economies had greatly affected because of the pandemic thats why we cant really make out some precise conclusions if it did really

make out some impact or not but as we do all know on when it happened where bitcoins price do able to hit up its peak of 60k+ which is on this year which is truly remarkable.

We dont know on what actually happened behind the curtains but it turns out to be a great year on crypto as a whole specially with Bitcoin.

[xSkylarx]

As of now, we can say that bitcoin and other cryptocurrencies are doing well despite we are facing a pamdemic. People have so much time staying in their homes and mostly of them are findings some good opportunities online, and trading or investing in crypto/s is one of their chores online. People also uses crypto as a way of payment in gettings services online.

However, bitcoin initially fell significantly because the majority of the market was in a bear market due to the pandemic. When there is a disaster, most coins go into the red, but it recovers after a few months and is currently very strong. I believe the pandemic is beneficial to bitcoin because many people now understand what bitcoin is and have invested in it, which is beneficial to bitcoin. This is the result of people becoming interested in the internet because they are bored at home and want to make money online.

[cheezcarls]

Even though that Bitcoin has nothing to do with the COVID-19 pandemic (with the exception of traditional stocks of course), we have to consider ourselves fortunate that the price ballooned beyond our expectations as well as some of the top cryptocurrencies out there.

On top of that, it gives us new opportunities and can be utiilized by just thinking outside of the box. As crypto creates new jobs and opportunities, DeFi, NFTs, etc., it’s gonna be good for us who are already in this industry and for those who are about to enter this space no matter if there’s COVID-19 pandemic.

[passwordnow]

Even though that Bitcoin has nothing to do with the COVID-19 pandemic (with the exception of traditional stocks of course), we have to consider ourselves fortunate that the price ballooned beyond our expectations as well as some of the top cryptocurrencies out there.

True to that, many of us that the market will tank with the start of the pandemic outbreak last year. But the opposite came and it became better for bitcoin and the whole crypto market as well.

On top of that, it gives us new opportunities and can be utiilized by just thinking outside of the box. As crypto creates new jobs and opportunities, DeFi, NFTs, etc., it’s gonna be good for us who are already in this industry and for those who are about to enter this space no matter if there’s COVID-19 pandemic.

The whole year during the pandemic, a lot of opportunities came out. Since most of us have stayed at home for the precautionary measure that's implemented by most countries, a lot of projects also came out and gave us a way to earn through side hustles.