Covid-19, Lockdown and repercussions

[jaysabi]

The impact of Covid-19 is felt in various parts of the world, besides that it also affects the economy of every country, both developed and developing countries. However, in the world of good trading, especially Cripto, this certainly does not have a significant effect, because during the lockdown period the community tries to keep producing by trading or investing in stocks.

You may want to know that Covid-19 had rather a positive effect on one hand in cryptocurrency. Aside the lost of jobs and people having to stay at home, the pandemic created a surge in demand for cryptocurrency, given the money from the air stimulus packages most countries had to embark upon was open doors for inflation. Fiat money was losing it's value here and there and people had to turn to cryptocurrency for safe haven.

I can't agree with this statement. In March 2020, when the pandemic started spreading to countries outside China, there was a sharp drop in Bitcoin prices. The exchange rates plummeted from $10,000 to around $5,000-$6,000. On top of that, everyone was expecting a spike from the block reward halving in May 2020. That never happened, probably because of the economic downturn that was resulted from the pandemic. Now the current spike in Bitcoin prices is partly due to the fact that the stock markets are doing good and the economy has rebounded.

Yeah, on a macro scale this just isn't true. Bitcoin was decimated just like the stock market in March 2020. It's because despite what the majority on this board believes, it is not a safe haven during times of economic upheaval and the capital flight from stocks and crypto proved this when the pandemic shutdowns were starting.

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[Vishnu.Reang]

Yeah, on a macro scale this just isn't true. Bitcoin was decimated just like the stock market in March 2020. It's because despite what the majority on this board believes, it is not a safe haven during times of economic upheaval and the capital flight from stocks and crypto proved this when the pandemic shutdowns were starting.

At least under the current circumstances, Bitcoin can't be considered as a safe haven asset. In part due to its volatility and unclear legal status in many of the countries, it remains a high risk investment. So when the economy was going up, Bitcoin was also going up. On the other hand, when the market crashed in March 2020, Bitcoin went down, but gold prices rocketed upwards.

[Ultegra134]

Yeah, on a macro scale this just isn't true. Bitcoin was decimated just like the stock market in March 2020. It's because despite what the majority on this board believes, it is not a safe haven during times of economic upheaval and the capital flight from stocks and crypto proved this when the pandemic shutdowns were starting.

At least under the current circumstances, Bitcoin can't be considered as a safe haven asset. In part due to its volatility and unclear legal status in many of the countries, it remains a high risk investment. So when the economy was going up, Bitcoin was also going up. On the other hand, when the market crashed in March 2020, Bitcoin went down, but gold prices rocketed upwards.

Not really sure how the conversation about Covid-19 was driven to Bitcoin and investments, however, I agree that Bitcoin or any Cryptocurrency cannot be considered a safe asset. Crypto isn't a panacea, and not many people have the right knowledge about how they work. Most, are not familiar with the risks they have, it doesn't work like the stock market.

[tippytoes]

Yeah, on a macro scale this just isn't true. Bitcoin was decimated just like the stock market in March 2020. It's because despite what the majority on this board believes, it is not a safe haven during times of economic upheaval and the capital flight from stocks and crypto proved this when the pandemic shutdowns were starting.

At least under the current circumstances, Bitcoin can't be considered as a safe haven asset. In part due to its volatility and unclear legal status in many of the countries, it remains a high risk investment. So when the economy was going up, Bitcoin was also going up. On the other hand, when the market crashed in March 2020, Bitcoin went down, but gold prices rocketed upwards.

Not really sure how the conversation about Covid-19 was driven to Bitcoin and investments, however, I agree that Bitcoin or any Cryptocurrency cannot be considered a safe asset. Crypto isn't a panacea, and not many people have the right knowledge about how they work. Most, are not familiar with the risks they have, it doesn't work like the stock market.

This pandemic has driven some noncrypto users to look at crypto because for one, the halving that happened last year and a lot were stuck in their homes and they were able to follow the news. And then, owed to this virus, people are looking for alternative payments, and crypto is a very good candidate on this case. And next is the buying of financial institutions of large amount of bitcoins like the MicroStrategy and TESLA, and even the announcement of PayPal to include crypto in their payment system boosted the btc market.
So yes, this covid, lockdown, has good repercussions in the crypto industry. Somehow, people are brought into this market because of the covid crisis.

[Fatunad]

Yeah, on a macro scale this just isn't true. Bitcoin was decimated just like the stock market in March 2020. It's because despite what the majority on this board believes, it is not a safe haven during times of economic upheaval and the capital flight from stocks and crypto proved this when the pandemic shutdowns were starting.

At least under the current circumstances, Bitcoin can't be considered as a safe haven asset. In part due to its volatility and unclear legal status in many of the countries, it remains a high risk investment. So when the economy was going up, Bitcoin was also going up. On the other hand, when the market crashed in March 2020, Bitcoin went down, but gold prices rocketed upwards.

Not really sure how the conversation about Covid-19 was driven to Bitcoin and investments, however, I agree that Bitcoin or any Cryptocurrency cannot be considered a safe asset. Crypto isn't a panacea, and not many people have the right knowledge about how they work. Most, are not familiar with the risks they have, it doesn't work like the stock market.

This pandemic has driven some noncrypto users to look at crypto because for one, the halving that happened last year and a lot were stuck in their homes and they were able to follow the news. And then, owed to this virus, people are looking for alternative payments, and crypto is a very good candidate on this case. And next is the buying of financial institutions of large amount of bitcoins like the MicroStrategy and TESLA, and even the announcement of PayPal to include crypto in their payment system boosted the btc market.
So yes, this covid, lockdown, has good repercussions in the crypto industry. Somehow, people are brought into this market because of the covid crisis.

Or simply seeing this as an another method for them to make profits or money but to think up that it isnt really created that way but somewhat it can really give out that kind of opportunity.
This pandemic did really open out some eyes to go into other opportunities that they can see on where they can sustain themselves.Lots of have been changed not only
on the way of living but also into those typical days where normal living we've been doing.

Its good that we can still have an option like this where it did able to help somehow for those who had able to know it well.

[Sithara007]

This pandemic has driven some noncrypto users to look at crypto because for one, the halving that happened last year and a lot were stuck in their homes and they were able to follow the news. And then, owed to this virus, people are looking for alternative payments, and crypto is a very good candidate on this case. And next is the buying of financial institutions of large amount of bitcoins like the MicroStrategy and TESLA, and even the announcement of PayPal to include crypto in their payment system boosted the btc market.
So yes, this covid, lockdown, has good repercussions in the crypto industry. Somehow, people are brought into this market because of the covid crisis.

People invested in cryptocurrency not because they were stuck at their homes, but as a result of the hype generated by PayPal and Tesla adoption. On top of that, the $1.9 trillion stimulus measure announced by Joe Biden and the ballooning federal debt also turned the situation advantageous for Bitcoin. It was not the pandemic, but the stimulus and big spending measures that followed it that resulted in rising popularity of BTC.

[Rehan Zakir]

COVID-19 has spread all over the world. Many lives have been lost because of this. Many peoples have lost their jobs because of this virus.
I am belonging from Pakistan. Peoples are effected with the corona virus. And with so many cases coming up every day, the government has put the lockdown.
But now situation is in control.

[Vishnu.Reang]

COVID-19 has spread all over the world. Many lives have been lost because of this. Many peoples have lost their jobs because of this virus.
I am belonging from Pakistan. Peoples are effected with the corona virus. And with so many cases coming up every day, the government has put the lockdown.
But now situation is in control.

Here in India also, the number of cases are going up. I am not sure whether there will be any lockdown or not. We are not having any lockdowns for almost 5-6 months now, and if it is introduced again, then the local businesses will be negatively impacted. But for the last two weeks or so, the number of new infections are rising. And there are rumors that some of the more resistant strains have been reported from India.

[Snappycoco]

COVID-19 has spread all over the world. Many lives have been lost because of this. Many peoples have lost their jobs because of this virus.
I am belonging from Pakistan. Peoples are effected with the corona virus. And with so many cases coming up every day, the government has put the lockdown.
But now situation is in control.

Here in India also, the number of cases are going up. I am not sure whether there will be any lockdown or not. We are not having any lockdowns for almost 5-6 months now, and if it is introduced again, then the local businesses will be negatively impacted. But for the last two weeks or so, the number of new infections are rising. And there are rumors that some of the more resistant strains have been reported from India.

Same here in the Philippines specially that we have no vaccines yet unlike you there at India. We are currently at top in South east asia when in comes to total infected persons.

[Ultegra134]

Yeah, on a macro scale this just isn't true. Bitcoin was decimated just like the stock market in March 2020. It's because despite what the majority on this board believes, it is not a safe haven during times of economic upheaval and the capital flight from stocks and crypto proved this when the pandemic shutdowns were starting.

At least under the current circumstances, Bitcoin can't be considered as a safe haven asset. In part due to its volatility and unclear legal status in many of the countries, it remains a high risk investment. So when the economy was going up, Bitcoin was also going up. On the other hand, when the market crashed in March 2020, Bitcoin went down, but gold prices rocketed upwards.

Not really sure how the conversation about Covid-19 was driven to Bitcoin and investments, however, I agree that Bitcoin or any Cryptocurrency cannot be considered a safe asset. Crypto isn't a panacea, and not many people have the right knowledge about how they work. Most, are not familiar with the risks they have, it doesn't work like the stock market.

This pandemic has driven some noncrypto users to look at crypto because for one, the halving that happened last year and a lot were stuck in their homes and they were able to follow the news. And then, owed to this virus, people are looking for alternative payments, and crypto is a very good candidate on this case. And next is the buying of financial institutions of large amount of bitcoins like the MicroStrategy and TESLA, and even the announcement of PayPal to include crypto in their payment system boosted the btc market.
So yes, this covid, lockdown, has good repercussions in the crypto industry. Somehow, people are brought into this market because of the covid crisis.

Oh yes, you are right indeed, totally forgot about that. I guess the loss of income combined with the extra time people have due to the pandemic opened new horizons and opportunities. The extra time and desire of another income lead people into investing in Cryptocurrency in hopes of a better life during this dire situation. I also believe that a large sum of crypto was bought during that time, boosting the market significantly.

[Gyfts]

Hello from Ukraine !
About our situation:
The first "long" quarantine we had from 2020/03/12 to 2020/05/22. It was a total quarantine - only grocery stores, pharmacies, and utilities were partially working. Offices were closed, any shopping / entertainment establishments were closed, even public transport stopped working (there was an organized work of duty routes that ensure the movement of employees of medical institutions, police, utilities). Perhaps the most difficult period. The service business (restaurants, cinemas, cafes / pubs, travel companies, concert agencies, marketing agencies, ....) suffered the most.
The last "lockdown" is from 2021/01/08 to 2021/01/24.
Now the country is in the "orange zone", which means that there is no strict quarantine, but there are many restrictive measures.
Outcomes:
- First lockdown. The hardest part is the psychological factor. Complete isolation, "an extinct city", empty streets, usual services do not work ... A hard impression.
- After that, all the "short" restrictions no longer produced such a depressing impression, they got used to or adapted to the inconvenience.
- Of course, a huge problem is small business, private business, and almost all service companies.
- And most importantly, there is no real solution to the problem yet. Vaccination has just begun, there are no effective treatment protocols and most likely there will not be, a mutation of the virus, a "short" acquired immunity - all this makes you think, and clearly does not lead to positive thoughts ...
But there is also a positive one For example, having so much "free" time - I learned 2 new programming languages ​​for myself, 1 framework, deepened my knowledge in BI, spent time on sports every day - improved my physical shape, and much more on the little things.

This describes the general perspective of anyone that is in a first world country, truly.

I read a story about the US and suicide rates amongst children, it's a bit old but relevant - https://www.nytimes.com/2021/01/24/us/politics/student-suicides-nevada-coronavirus.html

What seems to be overlooked often are the children. The US has had its schools closed down for nearly a year, and is the only country in the world to do so. European schools have generally been opened, with some short term closures.

And what is the effect? Social isolation, long or short term depression, and worst all, potential suicides. We do have the solution. The vaccines are there. Schools should be opened, businesses should be opened.

[Ultegra134]

Hello from Ukraine !
About our situation:
The first "long" quarantine we had from 2020/03/12 to 2020/05/22. It was a total quarantine - only grocery stores, pharmacies, and utilities were partially working. Offices were closed, any shopping / entertainment establishments were closed, even public transport stopped working (there was an organized work of duty routes that ensure the movement of employees of medical institutions, police, utilities). Perhaps the most difficult period. The service business (restaurants, cinemas, cafes / pubs, travel companies, concert agencies, marketing agencies, ....) suffered the most.
The last "lockdown" is from 2021/01/08 to 2021/01/24.
Now the country is in the "orange zone", which means that there is no strict quarantine, but there are many restrictive measures.
Outcomes:
- First lockdown. The hardest part is the psychological factor. Complete isolation, "an extinct city", empty streets, usual services do not work ... A hard impression.
- After that, all the "short" restrictions no longer produced such a depressing impression, they got used to or adapted to the inconvenience.
- Of course, a huge problem is small business, private business, and almost all service companies.
- And most importantly, there is no real solution to the problem yet. Vaccination has just begun, there are no effective treatment protocols and most likely there will not be, a mutation of the virus, a "short" acquired immunity - all this makes you think, and clearly does not lead to positive thoughts ...
But there is also a positive one For example, having so much "free" time - I learned 2 new programming languages ​​for myself, 1 framework, deepened my knowledge in BI, spent time on sports every day - improved my physical shape, and much more on the little things.

This describes the general perspective of anyone that is in a first world country, truly.

I read a story about the US and suicide rates amongst children, it's a bit old but relevant - https://www.nytimes.com/2021/01/24/us/politics/student-suicides-nevada-coronavirus.html

What seems to be overlooked often are the children. The US has had its schools closed down for nearly a year, and is the only country in the world to do so. European schools have generally been opened, with some short term closures.

And what is the effect? Social isolation, long or short term depression, and worst all, potential suicides. We do have the solution. The vaccines are there. Schools should be opened, businesses should be opened.

Interesting find, it's definitely an alarming issue, especially in younger children. They do not have the capability to understand the current situation with the pandemic, nor why exactly they need to wear a mask or what exactly is happening. They need to be out to socialize, play with their friends and so on. It's crucial in the early stages of a child's life, starting from the first years in school.

[MUHAMMAD NUR AMANAH]

The pandemic in my country is profoundly affected by the economic lifestyle of the economy, and even everything has changed since the corona virus struck from its essential everyday material, increasing the price of many unemployment, where schools are shut down no matter where family economies enter, and in what total lockdown. So the country will be decimated. I think lockdown is not a solution, but I don't know how to deal with this pandemic either. I also want this to end as soon as possible

[pinggoki]

The pandemic in my country is profoundly affected by the economic lifestyle of the economy, and even everything has changed since the corona virus struck from its essential everyday material, increasing the price of many unemployment, where schools are shut down no matter where family economies enter, and in what total lockdown. So the country will be decimated. I think lockdown is not a solution, but I don't know how to deal with this pandemic either. I also want this to end as soon as possible

Actually almost all of the countries are affected by this lockdown in which it really brought as a disaster in which many big establishments has been closed due to bankruptcy and many people lose job because their company closed. If you are talking that lockdown is not a solution about this pandemic then what would be the proper solution that our government must do? I think this is the proper way in which because of the lockdown we lessened the number of covid patients and many people stock on their houses in order to prevent the spreading of the virus.

[Vishnu.Reang]

Actually almost all of the countries are affected by this lockdown in which it really brought as a disaster in which many big establishments has been closed due to bankruptcy and many people lose job because their company closed. If you are talking that lockdown is not a solution about this pandemic then what would be the proper solution that our government must do? I think this is the proper way in which because of the lockdown we lessened the number of covid patients and many people stock on their houses in order to prevent the spreading of the virus.

When the lockdowns were imposed, there were two main aims. The first one was to obviously lessen the number of infections, and thereby the number of deaths. The second aim was was to slow down the spread in the initial phase, so that the medical sector get adequate time to come up with a proper plan. The first aim didn't worked that well, as tens of millions got infected in the end. But the second aim was achieved in most of the countries.

[Sithara007]

Same here in the Philippines specially that we have no vaccines yet unlike you there at India. We are currently at top in South east asia when in comes to total infected persons.

LOL.. so far India has completely vaccinated just 0.2% of the population. It will take many years to vaccinate all the 1.4 billion people here. Also, the vaccines used in India are having lower efficacy levels (Covishield from Oxford/AstraZeneca with 62% efficacy, and Covaxin from Bharat Biotech with 81% efficacy). At least for the immediate future, the fight against COVID 19 needs to be done without assuming much impact from the vaccination program.

[Wind_FURY]

Same here in the Philippines specially that we have no vaccines yet unlike you there at India. We are currently at top in South east asia when in comes to total infected persons.

LOL.. so far India has completely vaccinated just 0.2% of the population. It will take many years to vaccinate all the 1.4 billion people here. Also, the vaccines used in India are having lower efficacy levels (Covishield from Oxford/AstraZeneca with 62% efficacy, and Covaxin from Bharat Biotech with 81% efficacy). At least for the immediate future, the fight against COVID 19 needs to be done without assuming much impact from the vaccination program.

I’m not an anti-vaxxer, but does COVID-19 truly need a vaccine? I believe the rate of surviving the virus is more than 95%. I believe developing more effective therapeutic medicines for the illness would be more welcome than the vaccines.

Actually almost all of the countries are affected by this lockdown in which it really brought as a disaster in which many big establishments has been closed due to bankruptcy and many people lose job because their company closed. If you are talking that lockdown is not a solution about this pandemic then what would be the proper solution that our government must do? I think this is the proper way in which because of the lockdown we lessened the number of covid patients and many people stock on their houses in order to prevent the spreading of the virus.

When the lockdowns were imposed, there were two main aims. The first one was to obviously lessen the number of infections, and thereby the number of deaths. The second aim was was to slow down the spread in the initial phase, so that the medical sector get adequate time to come up with a proper plan. The first aim didn't worked that well, as tens of millions got infected in the end. But the second aim was achieved in most of the countries.

BUT it also slowed down the economy. If your government prrrinted fiat to stimulate the economy, then expect high inflation after the economy is opened up again.

[Ultegra134]

Same here in the Philippines specially that we have no vaccines yet unlike you there at India. We are currently at top in South east asia when in comes to total infected persons.

LOL.. so far India has completely vaccinated just 0.2% of the population. It will take many years to vaccinate all the 1.4 billion people here. Also, the vaccines used in India are having lower efficacy levels (Covishield from Oxford/AstraZeneca with 62% efficacy, and Covaxin from Bharat Biotech with 81% efficacy). At least for the immediate future, the fight against COVID 19 needs to be done without assuming much impact from the vaccination program.

I’m not an anti-vaxxer, but does COVID-19 truly need a vaccine? I believe the rate of surviving the virus is more than 95%. I believe developing more effective therapeutic medicines for the illness would be more welcome than the vaccines.

Actually almost all of the countries are affected by this lockdown in which it really brought as a disaster in which many big establishments has been closed due to bankruptcy and many people lose job because their company closed. If you are talking that lockdown is not a solution about this pandemic then what would be the proper solution that our government must do? I think this is the proper way in which because of the lockdown we lessened the number of covid patients and many people stock on their houses in order to prevent the spreading of the virus.

When the lockdowns were imposed, there were two main aims. The first one was to obviously lessen the number of infections, and thereby the number of deaths. The second aim was was to slow down the spread in the initial phase, so that the medical sector get adequate time to come up with a proper plan. The first aim didn't worked that well, as tens of millions got infected in the end. But the second aim was achieved in most of the countries.

BUT it also slowed down the economy. If your government prrrinted fiat to stimulate the economy, then expect high inflation after the economy is opened up again.

Even if the mortality is actually 5%, that's 50 people in terms of a 1000 people, which is still a lot. And that mortality rate, of 5% as you claim, is with lockdown and all the response measures that have been taken for Covid-19.

Supposing all countries get rid of any measures as we speak, the number of cases and deaths will rise significantly. The sole purpose of the vaccine is to slow down the transmission of the virus, to enable us to return to some kind of normalcy.

[judeafante]

Here in our region people are relaxing and because of this the number of infected has increased, people are now comfortable moving around and the economy is now open because our government cannot keep up giving dole out to its citizen, this happens because the vaccines are now coming arriving and the government is now scheduling its people for vaccination.

[Sithara007]

Here in India, the cases seems to be rising once again. 2-3 weeks ago, the daily number of new cases had fallen to four-digits. But now it is back to the 15,000-20,000 range. The emergence of the new strains seems to be behind this surge. The neighboring countries such as Pakistan and Bangladesh are also reporting an increase in new infections. The situation is not as bad as in the US or the EU, but government may reimpose some of the restrictions.