Does the epidemic have a big impact on Bitcoin?

[lisanona]

In the global recession, nothing is safe. When economic activity is at its lowest point, people are in desperate need of money. In this state, it is not surprising that the price of Bitcoin has fallen.
In fact, if there is Bitcoin, many people will sell it. This is to be expected. Bitcoin's value will inevitably fall like stocks. Bitcoin's market is not absolutely independent of what is happening in the world. This is obvious.
But Bitcoin will not go bankrupt, it will not happen. The company may go bankrupt, and even the country may fall into a debt crisis. But Bitcoin will not reach that state. Bitcoin will eventually rebound
why?

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[Obito]

Well, if you are talking about the Corona Virus, I have to correct you that it isn't an epidemic but a pandemic, there's a big difference between the two. To answer your question assuming that you change epidemic to pandenic, I think the pandemic affected the market big time, people are more online because everyone is on a lockdown so people have more time to spend online.

[jjdub7]

In the global recession, nothing is safe. When economic activity is at its lowest point, people are in desperate need of money. In this state, it is not surprising that the price of Bitcoin has fallen.
In fact, if there is Bitcoin, many people will sell it. This is to be expected. Bitcoin's value will inevitably fall like stocks. Bitcoin's market is not absolutely independent of what is happening in the world. This is obvious.
But Bitcoin will not go bankrupt, it will not happen. The company may go bankrupt, and even the country may fall into a debt crisis. But Bitcoin will not reach that state. Bitcoin will eventually rebound
why?

Personally, I think that Coronavirus has affected the Bitcoin and crypto markets, but in the opposite direction from the one you mention - namely the price of BTC has risen due to the pandemic.

In such pandemics, people are looking to invest in something that is not depreciating or there is no inflation, mainly gold. But last year we saw a serious institutional interest in Bitcoin and the crypto world precisely because of the Coronavirus situation.

This, in my opinion, was the initial push of the record we saw a month ago.

[Expecto]

The pandemic has actually affected the market really well. Because nearly everybody has been at home and it caused them to search for different things to do. And so many people have met this market and Bitcoin in this period. As a result, the demand for Bitcoin and the other cryptocurrencies has increased at a really high rate.

[avikz]

In the global recession, nothing is safe. When economic activity is at its lowest point, people are in desperate need of money. In this state, it is not surprising that the price of Bitcoin has fallen.
In fact, if there is Bitcoin, many people will sell it. This is to be expected. Bitcoin's value will inevitably fall like stocks. Bitcoin's market is not absolutely independent of what is happening in the world. This is obvious.
But Bitcoin will not go bankrupt, it will not happen. The company may go bankrupt, and even the country may fall into a debt crisis. But Bitcoin will not reach that state. Bitcoin will eventually rebound
why?

I wouldn't disagree! We are in the middle of a pandemic and the world economy is suffering. Job losses are everywhere and people are living on government's income support scheme. We are seeing a nightmare still in many countries. Crypto is not completely secluded from the earthly matters, so it got affected as well.

However, we have actually seen a great bull run from bitcoin and other few chosen altcoins during this pandemic as well. When the price of bitcoin reached to 60k, we all expected a correction. Now look at the market, it is increasing again.

These are part of daily crypto market. Every dip is an opportunity.

[sapnu]

We can actually see how much the epidemic affected bitcoin considering the fact that the bull run occured months after the start of the pandemic. It gave off a positive outcome as many people ended up using bitcoin as an investment due to the current closing off their current regular jobs. The economy for many countriew went down for sure but it provided us time to take advantage of our investments wherein we were able to provide more time with it and focus which probably made many benefit as the bull run occured if ever they were able to buy and invest before the bull run.

[DaveF]

I am probably against the popular view and say that overall it has had a very small impact.
A lot of people had major financial issues and had to sell their BTC / crypto to survive.
Others who had extra money do to government support bought some because they could.
Probably very close to a balanced amount of money.

The run up and then the small correction we just had are part of the normal cycle.

-Dave

[stompix]

We can actually see how much the epidemic affected bitcoin considering the fact that the bull run occured months after the start of the pandemic.

Actually when the pandemic hit Bitcoin went down with everything else:
Bitcoin loses half of its value in two-day plunge the bull run started 10 months after that when basically everything was growing because they saw the end of restrictions, the vaccine was available and stimulus money was pouring everywhere.

You can't have growth in Bitcoin with a destroyed economy, it's a simple thing, where would that money come from if everyone is jobless and homeless?
Just as stocks and other assets need money to reach higher levels, speculations that it will become a safe haven in case of an economic collapse have really taken a hit, it might work if a country is in recession but with a global crisis, it won't see people flocking to it.

[cabron]

The pandemic made businesses shut down and people lose jobs, that's what happened due to this crisis and now we are experiencing inflation because it leads to the government printing trillions already and the impact on BTC is it made the price soar because the wealthy individuals are looking to hedge their money and bitcoin solves it.
As a result, the wealthy people who didn't choose BTC are buying properties just to keep their money before its value dissolves.

The price of BTC when the pandemic started was below $10k. That says a lot.

[DatKing]

I think that this pandemic period helped Bitcoin and the price grow even bigger than before. Because there are many more people who have learned about Bitcoin right now. Lately, the market is not in a good condition but it isn't related to pandemic of course.

[maydna]

Perhaps, pandemic and bitcoin price have a correlation, but I am not sure about that. People can still use bitcoin, and they can buy and sell bitcoin because even if the bitcoin price is down, the price will increase so that people can make a profit because of the price gap. That means people can make money from bitcoin, which they can use for surviving this pandemic. As long as people do not give up on the current situation, bitcoin can help them make money. Besides that, the bitcoin price will increase and even increase more than the last ATH.

[aysg76]

The pandemic created a global economy recession and people were trying to find some alternate Market to invest their savings in hope of getting profits so crypto was in hype at that time which in turn boosted the investments in btc market and so the prices touch it's ATH of $64k near Coinbase listing on Nasdaq.But it was at one point Musk manipulation also like Tesla investment and btc acceptance which contributed at one point.People always tend to move from traditional markets after these types of pandemic which made them realise the importance of that assest afterwards and with rising inflation fiat is somewhere losing its power.So yes this time helped for btc growth at vast level.

[arwin100]

In the global recession, nothing is safe. When economic activity is at its lowest point, people are in desperate need of money. In this state, it is not surprising that the price of Bitcoin has fallen.
In fact, if there is Bitcoin, many people will sell it. This is to be expected. Bitcoin's value will inevitably fall like stocks. Bitcoin's market is not absolutely independent of what is happening in the world. This is obvious.
But Bitcoin will not go bankrupt, it will not happen. The company may go bankrupt, and even the country may fall into a debt crisis. But Bitcoin will not reach that state. Bitcoin will eventually rebound
why?

Did you even see bitcoins when heavy lockdowns has been implemented on many countries? Does the price falls? or did you see some major sell off when this incidents around the world happening?.

Since this really not happen in reality actually bitcoin gather more attention when people are lock inside their homes since when bull run cames many people shares about bitcoins thats why many other people got interested to join and earn with it. We see a high price rally of it thats why I never think about bitcoin price will fall since we know people are finding some good opportunities and they find bitcoin which have good potential to give them good profits.

[anu1908]

isn't it too late to talk about this now? we've been in lockdown for more than a year, and if there's any effect than the first few months would be the best point to see it. imo the effect is more apparent on those who works outdoor or rely on face to face activity till now, crypto and the trading market doesn't seem too care that much.

[MusaMohamed]

The pandemic and inflation money printing, QEs on Earth combine with each other and make Bitcoin moves up faster than it should do without the pandemic.

Nevertheless, I don't consider Bitcoin is overvalued concurrently. The party after May 2020 halving has yet completed. In addition, this 2020 halving party will not be as same as the 2024 halving party. Next four years, less Bitcoin will be mined each block and the inflation chart will become flatter.

It is time to call for holding.

[kaggie]

The lockdowns last March caused many things to fail.

Bitcoin recovered, showing its resilience to such things. So, yes, the big impact has already been shown.

Now you have Biden implementing god-knows how many trillions of dollars in his plans, which causes people to put more money into bitcoin.

The pandemic has caused bitcoin to take off faster than it would have normally. It solidified its position.

[uneng]

In the global recession, nothing is safe. When economic activity is at its lowest point, people are in desperate need of money. In this state, it is not surprising that the price of Bitcoin has fallen.

Bitcoin's price has increased during the pandemic and we had our ATH. The scenario changed after news from a disaster in a chinese coal mine came to light. 21 people were trapped inside the mine and accordingly to the news the mine was restarted without government's permission, as more power was needed to supply the bitcoin mining operations. After that accident, chinese government announced another crypto ban and Elon Musk stabbed bitcoin in the back. After those events, speculation took place and a bear season started.

In fact, if there is Bitcoin, many people will sell it. This is to be expected. Bitcoin's value will inevitably fall like stocks. Bitcoin's market is not absolutely independent of what is happening in the world. This is obvious.
But Bitcoin will not go bankrupt, it will not happen. The company may go bankrupt, and even the country may fall into a debt crisis. But Bitcoin will not reach that state. Bitcoin will eventually rebound
why?

Bitcoin is a way to protect our money against fiat inflation. The digital currency is the most accessible and easiest way for doing it. That is why the price skyrocketed during the pandemic, because people were fearful of their traditional investments which rely on the prosperity of the their local economies and currencies. Governments print too much money to keep things temporarily stable, but on long term the effects are catastrophic.
The alternative is bitcoin, since it has a limited supply and investors have the assurance this rule isn't going to change (I have some doubts on this matter, but that is the idea bitcoin sells).

[ziyaaa]

Coronavirus has had a really huge impact on Bitcoin and the rest of the market. As people started getting stuck at home, they've started searching for new adventures. And they've met this market. The demand has increased rapidly.

[isaac_clarke22]

~

I thought the "coronovirus and Bitcoin" discussion/threads was/were over already years ago.

@OP You cannot compare Bitcoin with any other companies out there even if the market value of it is mostly compared by many, but bankruptcy and BTC does not have relation, maybe in price but it is irrelevant.
Bitcoin is dependent on the internet, by the way. Although I heard that BTC can be sent through SMS back in the days.

[sportclub2010]

Personally, I see absolutely nothing to do with the rise of bitcoin and the coronavirus pandemic. I can't imagine how people who have lost their jobs, instead of saving money for living, will buy bitcoins. On the contrary, they will sell bitcoins.