Does the epidemic have a big impact on Bitcoin?

[jossiel]

it's not how i think things happened, as i remember when things started going well for bitcoin and crypto in general during the pandemic, and other markets were going down maybe because investors were afraid that banks can get negatively affected by some political decisions which led them to a decentralized market which is crypto to invest in.

While the opposite did happened, I think mostly have thought of the bad situation of the market when the pandemic has started. But well then, the different and opposite did came.

There's the moment that oil also hit its low and that made an alarming economic impact, whilst for bitcoin, it's the different and which made the impact positively.

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[Duzter]

During this time period most of the platforms have moved online. So, there is real growth and positive impact on businesses that have already kept themselves advanced on the internet. Cryptocurrency market had a good rise, because more people started to explore it and started to get into trading practice. The big change in market progress have happened with the online education platforms. The worth have turned in large multiples due to the possibility of using online services for education needs.

[bitzizzix]

During the pandemic, not only bitcoin but gold is also the most sought after because it is the safest investment during the pandemic due to high investor interest in owning both investments as an effort to secure wealth from the threat of a global economic recession.

and besides that bitcoin users are increasing because it can provide opportunities for those who want to have an income due to losing their jobs and also the difficulty of finding income due to social restrictions, and during the pandemic many people turn to gold and bitcoin and this makes demand increase so the price of both also increases.

[lienfaye]

The pandemic and the lockdown for many places are really a hard situation for us and its undeniably true that many investors sell their bitcoin to sustain their everyday needs, the reason why the market turn bloody during that time but the good thing is it didnt last long.

I think one of the reason is during lockdown, those workers who place on temporary lay off on work seek for an opportunity online wherein they can earn while at home and bitcoin or crypto in general is one of the option as an investment.

Bitcoin is not exempted if stock markets, gold and the economy are crashing however the chance of bouncing back is high due to investors who believe that bitcoin is an innovative form of investment to achieve a financial freedom.

[Kittygalore]

During this time period most of the platforms have moved online. So, there is real growth and positive impact on businesses that have already kept themselves advanced on the internet.

I think that's the biggest take away in all of this, the growth was spurred because people and their activities have been moved online thus centering or changing their interest in online stuff and that includes bitcoin and cryptocurrencies. Not to mention that stimulus checks was used by some people to buy themselves some investment.

[lumierre]

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?

It seems to me that you think about Bitcoin like many others do, that it is just a giglet with no real value. Maybe it was so some time ago, but now it has become a reserve currency in China. They provide offshore yuan with Bitcoin. It is proof that Bitcoin is an integral part of the modern economy today so it is unlikely to go bankrupt. As long as we use it, it will exist.

[EvieLannister]

It is precisely because of the epidemic that the price of Bitcoin has risen. Due to business closures, many people are not working or working from home. Many people learn about cryptocurrency through friends or the news media. In my impression, there were a lot more altcoins during the popular period. I don't know if it is caused by the epidemic, many of them are scams. And some newcomers who have just entered the cryptocurrency have no experience and will lose some funds, causing some people to be afraid of cryptocurrency.
However, many people are still learning about cryptocurrency. When the epidemic has no source of income, they rely on cryptocurrency to make money. I will take my friends into cryptocurrency, which will increase the demand for the cryptocurrency market. This is also a good thing for the cryptocurrency market.

[Chato1977]

I don't think the covid pandemic has affected bitcoin's performance, but in the midst of the economic crisis that followed it, it created a catalyst and boosted popularity in the market, thus creating momentum.  very big.  And started to have millions of bitcoin users and love the crypto space.  Because they know what value bitcoin has created.

I agree, now many big companies accept bitcoin because they analyze that bitcoin investment is very growing, when Covid made many companies go bankrupt bitcoin just continued to shine so Covid did not have any impact with bitcoin.

actually we don't really need investors but we need people that will use and circulate the coins  because this is a currency and not a material like gold to be stocked and let sit for long time.
and this is primarily what bitcoin must be treated and not what we have learned from the beginning that invest and hold.

[skybot13x]

You are only telling half of the story. When all markets crashed around the world at the beginning of the pandemic, Bitcoin also crashed if I recall that correctly. Then against all expectations all markets around the world made record breaking profits on a daily basis up to the point where they broke ATHs despite the pandemic spreading further at full pace. That is when Bitcoin also went up again.

it's not how i think things happened, as i remember when things started going well for bitcoin and crypto in general during the pandemic, and other markets were going down maybe because investors were afraid that banks can get negatively affected by some political decisions which led them to a decentralized market which is crypto to invest in.

When the pandemic officially was called out and actually broke out, meaning infection numbers went through the roof, Bitcoin went from $9,000 to below $5,000. That to me is a real crash. All other markets did the same. Afterwards things started to slowly recover when helicopter money was promised and paid and much more. Along with all other markets, Bitcoin also increased. Bitcoin wasn't particularly different from any other markets and if you ask me that is typical for any asset unless it is stock in pharmaceutical companies. During a crisis like a pandemic you have other stuff to resolve than pushing up the BTC price.

[darahjuang]

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?

The pandemic will not have a major impact on Bitcoin.
First, indirectly, when WHO announced a pandemic, many countries in the world implemented lockdowns as a solution to prevent the virus. Automatically, the velocity of money will significantly decrease or even stop.
Second, Bitcoin is not an inflationary currency.
From the two points I mentioned above, the conclusion in my opinion, since 2019 was set by the WHO until now, the price of Bitcoin has been at $45K and many analyzes say BTC will be at $50K.
That is, not a negative impact, but a large positive impact.

[skybot13x]

I think the effects of the pandemic have had a major impact on the various business worlds, not only the crypto world, which had such an impact on the pandemic, such as several other businesses and even many large companies that also went bankrupt from the impact of the corona virus. ends and life will return to normal and run properly as it used to be

It has been proven that the pandemic has had a big impact because many companies have officially declared bankruptcy due to the pandemic, but this has brought a positive side to crypto because the crypto marketcap has increased dramatically since the pandemic, I'm sure investors are increasingly optimistic about the future of the pandemic.

Didn't everything increase in price world wide? I hardly know of any market that didn't increase except for gastronomy and those who are dependent on a frequent audience. Apart from that precious metals and many other assets have performed very well, including Bitcoin. It is not like Bitcoin was the only asset that got a boost during the pandemic. Not at all by the way, but rather a lot of money was invested all over the place.

[jakdanyel]

I think that the pandemic period had a really good impact on Bitcoin price early on. There was a very high demand from people for Bitcoin. And this helped the price increase very quickly and even achieve a new ATH. So, I don't see this period as bad. We're still in the pandemic period and the price has started to climb again.

[oHnK]

I think the effects of the pandemic have had a major impact on the various business worlds, not only the crypto world, which had such an impact on the pandemic, such as several other businesses and even many large companies that also went bankrupt from the impact of the corona virus. ends and life will return to normal and run properly as it used to be

It has been proven that the pandemic has had a big impact because many companies have officially declared bankruptcy due to the pandemic, but this has brought a positive side to crypto because the crypto marketcap has increased dramatically since the pandemic, I'm sure investors are increasingly optimistic about the future of the pandemic.

Didn't everything increase in price world wide? I hardly know of any market that didn't increase except for gastronomy and those who are dependent on a frequent audience. Apart from that precious metals and many other assets have performed very well, including Bitcoin. It is not like Bitcoin was the only asset that got a boost during the pandemic. Not at all by the way, but rather a lot of money was invested all over the place.

If it is said that all prices have gone up, it seems that you have to look back at how the stock prices collapsed in 2020, if they are now improving, they will not fully recover.  There are many companies that have laid off their employees and the economy is becoming more difficult.  If crypto doesn't have an impact then maybe because it's not centralized if it is centralized I'm sure the government has made certain policies for this new type of currency.

[Smartvirus]

The pandemic had qn effect on bitcoin in both the bull and bear direction. The difference is that, it was more on the bull side than the bear side. In January 2020 when the pandemic was still at its earliest, you could see a negative impact on the bitcoin prices. The market happened to have gone bearish as people relied on bitcoin and other online investment packages for there daily bread due to the stay at home policy but, it all changed.

People soon came to realise that, working from home was the way to stay out of government policies and bitcoin offered more than just working from home. It came with a decentralized system for which, you say say the apex of your affairs and that means more to a lot of persons. Hence, the need for a cryptocurrency investment for bitcoin is it's strong hold. As such, the market started going bullish. It was a 2 direction kind of thing but, it helped more than it was damaging.

[bryant.coleman]

From what I have seen so far, the pandemic had both positive and negative impact on cryptocurrency. On one had, so many people became unemployed and as a result they had to dip in to their savings (including savings in the form of cryptocurrency). But at the same time, countries such as the United States were distributing stimulus cheques to the general population, including to those who don't need the money. At least a fraction of this money was used to purchase cryptocurrency (especially in the United States).

[rosebrand]

The pandemic affected the crypto market in two ways, at first when the pandemic came it made people lose their jobs, many people being unemployed had to sell their cryptocurrency to be able to sustain, and this made the crypto market to be so bearish, then after a period of time people being unemployed started looking for a new way to earn money. Some learnt how to trade, some invested the little there have and keep growing it, with this the crypto market started being bullish again and the pump continued.

[Qikiye]

The pandemic affected the crypto market in two ways, at first when the pandemic came it made people lose their jobs, many people being unemployed had to sell their cryptocurrency to be able to sustain, and this made the crypto market to be so bearish, then after a period of time people being unemployed started looking for a new way to earn money. Some learnt how to trade, some invested the little there have and keep growing it, with this the crypto market started being bullish again and the pump continued.

Many people have lost their jobs and are living in captivity. They are only focusing on online passive income. This is increasing the popularity of Bitcoin and other virtual coins.  So than before Cryptocurrency is much more popular.

[Semar Mesem]

The pandemic affected the crypto market in two ways, at first when the pandemic came it made people lose their jobs, many people being unemployed had to sell their cryptocurrency to be able to sustain, and this made the crypto market to be so bearish, then after a period of time people being unemployed started looking for a new way to earn money. Some learnt how to trade, some invested the little there have and keep growing it, with this the crypto market started being bullish again and the pump continued.

Many people have lost their jobs and are living in captivity. They are only focusing on online passive income. This is increasing the popularity of Bitcoin and other virtual coins.  So than before Cryptocurrency is much more popular.

The role of crypto advertising is certainly very influential when we are online a lot at home, I'm happy because Google is no longer banned for crypto ads so that many users come, and now crypto is getting more popular because many big companies are also investing.

[Nora Olin]

Affected by the epidemic, contact between people has decreased, and the frequency of using cash has also decreased. This makes institutions and individuals more inclined to use digital currency instead of direct contact with transactions. Digital currencies will use this as an opportunity to increase the sentiment driven by the epidemic, which will cause the price of Bitcoin to rise.