Bitcoin - Reinforced by the pandemic

[pixie85]

Yes, I'm sure it acted as a reinforcement.

Investors always look for signs of strength or weakness on the market. A fall from 20 thousand to 6 thousand was a sign of weakness and we fell even lower to 3000.

A rebound back to 6000 was the first sign of strength followed by 10 thousand and then 14. Each of these made more investors join the rally.

[AmoreJaz]

Bitcoin is already valuable, strong and trusted digital currency even before the pandemic. Real and wise investors will always confident in bitcoin because bitcoin has already a foundation and at the time of dump, investors will surely take it as a good chance to buy because they know it will rise again at the right time.

thats my take here. even before pandemic, bitcoin is already doing good and those who truly believe the capability of btc knows that it has a strong future. however, this pandemic  further strengthen its use case in the market. those noncrypto users start to understand the benefits it may bring to their portfolio.
 as people were stuck in their homes, a lot of people came to know crypto or btc and search what it is. some are looking for alternative payment method or just looking for investments.
some people of course are hesitant when it comes to dealing with crypto, but i guess when paypal announced about the integration of crypto in their system, this add more confidence to noncrypto users that crypto is not indeed a fraud.

[Yatsan]

Ever since I have got engaged into investing with Bitcoin, I am certainly and absolutely confident. Even before and as soon as the pandemic crisis come to an end, I will become more confident into my decision of investing into Bitcoin. For sure, many of us in here will certainly agree for the fact that many of us here have seen how Bitcoin have surpassed all the circumstances that it have faced ever since the time that it become existent within the market. Pandemic is not just the only circumstance that Bitcoin and the crypto market that have faced even before and all of those have been survived which showcased how strong Bitcoin is which means it is certainly a good and worthy investment.

[FlightyPouch]

When I started investing some money in bitcoin, that is when it all started, that it will all be great in the near future as it will be one of the most popular asset. The price rose and dumped during this pandemic so we can't actually say it is all because of the pandemic, right? It is because of the people.

[famososMuertos]

I believe that bitcoin is in that volatile process that always accompanies it more driven by the halving process and its ecosystem conditions than by external effects, which seem to influence but only coincide, it is a perception that it causes in some users, look at the historical growth and compare them with the social or economic situations of the moment, there is nothing there that can be said to influence with certainty.

That leads me to mention that as an investor it would be a mistake to think about investing in bitcoin due to certain social or economic factors that occur at a certain time, in fact it is simpler than all that, just invest whenever you can and have resources, it is incredible to think that with the price that bitcoin may have in the coming months, even if it goes over 20,000, it is a good time to invest.

In conclusion, my confidence does not depend on these external factors, it depends on the bitcoin itself.

[crwth]

Bitcoin price behaviour has been somehow similar to stocks and gold during this COVID worldwide crisis.

If you check all the market responses, it's all because of human behavior and what they will do with their current investment. Some would've probably withdrawn their investments in the market to prepare for the pandemic (which has happened). As the global pandemic is slightly loosening and almost going back to normal, people invested again, a possible cause of the rise in price. More adaptation and more companies investing in Bitcoin as well.

My question for the crypto community in here: Do you think that the fact BTC has survived the initial dump and rebounded, consolidated, marched upwards, and now standing close to its ATH acted as some kind of reinforcement to the trust investors have in this asset?

This could be a key entry point to show that this asset is definitely worth investing in. I mean, we cannot convince everyone, but we might as well try, right? It's best to show these kinds of facts to the people, and maybe they would understand how beneficial it is in our society's financial sector.

In other words, are you now, as an investor more confident about investing in BTC than before the whole crisis started?

I had become more confident and somewhat regret the BTC I exchanged for Fiat. I could've had a larger price on it, you know? That's just how it is, and I accept that with BTC.

[Eureka_07]

I'm pretty sure the pandemic did not had any huge effect on how bitcoin's value went in this time of pandemic.
Bitcoin has been well established, since it was launch, the trust skyroketed, and gradually increasing overtime.
This should be the general reason why bitcoin's price is not declining so hard recently. people(traders) has a very positive view that bitcoin will have higher value in the future, bitcoin is just starting to heat up, there are lots of things that will happen that  we know will affect bitcoin possitively.
Bitcoin adoption is gradually increasing, it's a positive sign for bitcoin.

[taufik123]

When I started investing some money in bitcoin, that is when it all started, that it will all be great in the near future as it will be one of the most popular asset. The price rose and dumped during this pandemic so we can't actually say it is all because of the pandemic, right? It is because of the people.

because people continue to trade and many new people or beginners start investing in Bitcoin during this pandemic. Bitcoin is an option because there are several advantages that can be obtained if you invest in bitcoin properly. It's not because of the pandemic, Bitcoin is strong and has survived to this day because of a growing community and with technology that is useful and can be applied in all aspects.

Just waiting for the price of bitcoin to reach the new ATH and bitcoin will be increasingly recognized and discussed everywhere.

[gabbie2010]

From my own point of view, I believed that lockdowns and restrictions imposed on many people by government to avoid contacting the virus provided opportunities for them to research more about Bitcoin probably enables   newbies investors to invest for a trial and also avoiding physical contact with Fiat in a bid to purchasing stuff online culminated to many people diverting their attention toway Bitcoin as an alternative digital currencies all these factors could be responsible for Bitcoin bullish runs, buyers are always in the market in these pandemic period, I think the price will not dump at this point in time despite the minor pullbacki experienced by the price few days ago.

[lienfaye]

We already see bitcoin in its lowest value, many investors lose hope and panic that it might go to zero value but btc managed to bounce back.

Despite of the roller coaster ride, here we are enjoying the price increase of bitcoin. Its a reason to stay firm and more confident that there's more to look forward in this technology.

We already experience the worse situation and overcome it, so there's no reason to have doubts. I am more confident and certain that I made the right decision to engage myself in crypto particularly in bitcoin.

[0t3p0t]

The pandemic surely gave people enough time to learn and buy bitcoin. People are even investing in crypto just because they can't buy stocks. Though pandemic has made a lot of people lose their job but the expenditure are also very low. Every people with a salary are not finding places to spend their money and hence moving to crypto.
I think bitcoin has stepped up above $10K. The prices may fluctuate wildly but I think it would resist itself above 10K.

I agree. I can relate this one here. I was once a bounty hunter way back 2017 and when the market turns red in 2018 and signature or even bounty campaigns became scarce I decided to find a job, so I get a day job but when pandemic has worsen lately I lost my job so I came back to crypto. What I've observed is that, when people are in FUD because of crisis they are going to find a way to feel safe. But still depends on what makes them comfortable whether investing in precious stones or metals, cryptocurrency or in stocks.

On the other hand, pandemic turns people into investing in cryptocurrency specifically Bitcoin since as you have said they have a lot of time to learn how it works and what it's purpose of existence. Plus being at home makes everything and everybody be on the internet which makes their curiousity becomes reality. Here in my country we can use Bitcoin to pay for goods and services online. That is how and why Bitcoin price keeps on rising because more and more people are jumping in.

[AniviaBtc]

In other words, are you now, as an investor more confident about investing in BTC than before the whole crisis started?

Absolutely!!! This pandemic is the right time for holding btc right now.

Bitcoin community will probably grow this time because most of the people spend time on looking for something profitable while staying at home. I think bitcoin is the number 1 thing that they will found in the internet. Cryptocurrencies are really profitable once used properly and bitcoin is the most popular so people will invest to it immediately.

I'm very confident with my bitcoins as I see some improvements in its price these past few months.

[yazher]

From the start, I am more confident about bitcoin being the best investment because of its unique features in the market. despite the bearish trend last year, it holds its spot in the top one and it only took a few months before it recovered its price again. right now, if it's gonna stay at this high price for long, I'm sure it will also rise someday and renew its old ATH. I think most of the people are already happy to see the result of the price today.

[royalfestus]

Bitcoin is already valuable, strong and trusted digital currency even before the pandemic. Real and wise investors will always confident in bitcoin because bitcoin has already a foundation and at the time of dump, investors will surely take it as a good chance to buy because they know it will rise again at the right time.

thats my take here. even before pandemic, bitcoin is already doing good and those who truly believe the capability of btc knows that it has a strong future. however, this pandemic  further strengthen its use case in the market. those noncrypto users start to understand the benefits it may bring to their portfolio.
 as people were stuck in their homes, a lot of people came to know crypto or btc and search what it is. some are looking for alternative payment method or just looking for investments.
some people of course are hesitant when it comes to dealing with crypto, but i guess when paypal announced about the integration of crypto in their system, this add more confidence to noncrypto users that crypto is not indeed a fraud.

some sold big part of the portfolio in March to keep fiat for unforeseen situation the pandemic might bring, Lets say people get to know about cryptocurrency and its benefits due to the pandemic and lockdown,  but how are people able to invest in the space with the decline in the world economy, loss of jobs and business?

[Emmychris]

During the early stage of the pandemic crisis bitcoin dropped so low and this made many people lost confident in bitcoin and many sold at lost due to panic, but only the smart and learned ones could predict the future to an extent, later on bitcoin started increasing even when the pandemic was still strong, and currently it has rised to the moon, and I could say that this pandemic was a trigger to bitcoin, but due to its fall from the start of the pandemic many investors wasn't patient enough. I think this recent invent has made many investors have a strong confidence in bitcoin.

[Negotiation]

Every trader is very happy because of the increase in the price of bitcoin is powerful by the epidemic because the covid-19 epidemic has affected everyone the epidemic has created a public health crisis that has also called for an economic crisis. Due to the deadly nature of the virus there are numerous small businesses that have been forced to shut down their streams of income by drying up but bitcoin can't hurt bitcoin is very strong in the midst of the epidemic and its demand has increased so much that the price is going to go up.

[error08]

The pandemic has had little effect on bitcoin, the best possibility is that people sell off the stocks and switch to bitcoin to hedge the funds due to the crisis that may come because of covid. From March to April 2020, bitcoin price rises $3k within a month, but it climbs even higher towards halving day to $10k.
The halving day is the biggest reason for the increase in bitcoin prices to date because the value of bitcoins is basically calculated based on mining expenses correlated to supply and demand.

[imstillthebest]

stocks are not in a good shape during the covid but i dont have an update on gold . gold still be in a stable condition . btc on the other hand are doing great in the middle of the pandemic , as you see all three assets are in different conditions . btc havent been in a dumped mode yet so expect things to to become negative soon but that phase can be easy on btc and it can always survived it . the pumped in the price of btc gives a confident to the investor and they be putting more money in it .

[Twinkledoe]

From my own point of view, I believed that lockdowns and restrictions imposed on many people by government to avoid contacting the virus provided opportunities for them to research more about Bitcoin probably enables   newbies investors to invest for a trial and also avoiding physical contact with Fiat in a bid to purchasing stuff online culminated to many people diverting their attention toway Bitcoin as an alternative digital currencies all these factors could be responsible for Bitcoin bullish runs, buyers are always in the market in these pandemic period, I think the price will not dump at this point in time despite the minor pullbacki experienced by the price few days ago.

Actually, that's true. A lot of people were stuck in their homes during this pandemic and also at that time, bitcoin had halving that made a lot of people aware about the presence of bitcoin. And since people are looking for alternative digital payments because they want to avoid using their cash, at some point, they encountered bitcoin or crypto as another payments. Some people also look in the aspect of investments. So in general, pandemic did actually good to crypto community in terms of adoption, which means more demand in the market.

[ChrisPop]

Absolutely!!! This pandemic is the right time for holding btc right now.

Bitcoin community will probably grow this time because most of the people spend time on looking for something profitable while staying at home. I think bitcoin is the number 1 thing that they will found in the internet. Cryptocurrencies are really profitable once used properly and bitcoin is the most popular so people will invest to it immediately.

I'm very confident with my bitcoins as I see some improvements in its price these past few months.

I fully agree with you, man. But we need to be careful not to promote just the profitability part. We don't want people to invest into Bitcoin just because it gives a high ROI.

A few years in the future, when Bitcoin hopefully will be utilized as a mainstream currency and value standard, the price is going to be much more stable than now.