Does Covid-19 affect On Bitcoins

[Elsaveronicha]

Covid-19 has greatly affected the price of bitcoin. This is evidenced by the price of bitcoin which has strengthened from $4k to $40k, even touching $60k. During the pandemic interest rates in banks experienced a large decline. This makes people buy bitcoin because it provides a bigger profit.

[suryana]

Does not make the basic reason to be associated with the destruction of bitcoin. So I don't think bitcoin points destroyed can't be linked to the covid 19 pandemic. If you look at the good side during the pandemic, more people are looking for side jobs online, and bitcoin can be an alternative.

[Abike007]

Coronavirus has had a huge effect on the nascent industry of crypto currencies. We were already dealing with various issues, like regulations, liquidity. scams etc and this has just added to the list of worries. However new companies are building a lot of interesting products but there is still a lot of ambiguity surrounding Bitcoin even today. Though it can fairly be called a mainstream asset now, it is yet to be institutionalised. Governments all over the world need to take bold measures to regulate it and make it easier to buy / sell / hold Bitcoin. Till that happens, the crypto industry will continue to struggle amid all the uncertainty, which has been further highlighted by Corona situation. Hopefully, few years down the line, the change in narrative will be more of a positive one.

[amihada]

during the covid19 outbreak many large companies switched to bitcoin investment because their business plummeted and their hopes to take profit turned to bitcoin or alcoin which has the potential like eth coin during covid the price of bitcoin began to rise dramatically.

[Shamm]

Lets look at this from two angles, we have the short term timeframe and that of the long term. Rewind to last February to march that the pandemic still has a huge presence in the economy mostly because it was just becoming a reality as many previously doubted the existence of the virus.

As people began realizing the authenticity of the virus, they began to panic and this affect all market not just that of Bitcoin. Well you could say the cryptocurency market was one of the most affected but all that now doesn't matter since it's also at the top of the charts in assets that had the greatest recovering and gave their investors huge returns on investment.

Bitcoin  has ability and flexibility minded even it's affected by the Covid-19 pandemic but Bitcoins stand fast unstoppable an as you said they gave their investor a huge return on theirs investment and Bitcoins increase the price an recovered fast. Hoping this Bitcoins will still long live and never be down despite of any circumstances even if is but we're hoping to recover as fast .

[taufik0911]

The pandemic made a pretty big impact in my opinion, because many people were doing work at home when the pandemic forced many people to think more about looking for additional income and bitcoin is one of the options most people are interested in to earn extra short and long term income.
What I observed during the first year of the pandemic was that many of my friends and people in my neighborhood were very interested in bitcoin because it was profitable and did not take much time.

[conected]

The pandemic made a pretty big impact in my opinion, because many people were doing work at home when the pandemic forced many people to think more about looking for additional income and bitcoin is one of the options most people are interested in to earn extra short and long term income.
What I observed during the first year of the pandemic was that many of my friends and people in my neighborhood were very interested in bitcoin because it was profitable and did not take much time.

- It's a good idea to tell your friends early on how important the damage levels and manageability will be when this is an oasis filled with precious heritage but it also has no shortage of dangerous animals, newbies with bad moves and jumping into marked areas of risk will be desperate and floundering. The pandemic is a seed of investment opportunity when most of the key sectors have been greatly reduced, people can only ask for help in profitable investments such as gold, bitcoin and some stock center, the value of bitcoin can go up quite high from this point of view

[Qikiye]

On the eve of Corona, most of the people in the world are living a very miserable life, many people are focusing more on indirect income. Bitcoin is the most important means of passive income. I think the importance and use of Bitcoin has increased a lot more than before because of the  Corona epidemic.

[Rruchi man]

Covid has positively affected Bitcoin.

 At the height of the pandemic, WHO, CDC advised folks to reduced handling of conventional money, banking transactions, and automatic teller machine (ATM) transactions were brought to a halt to avoid spreading viruses via contact. At this time bitcoin became the most available online money enabling a more secure transaction process as online shopping exploded.

Also because almost every country in the world was locked down and people were advised to sit at home, people had more time to surf the net and watch the news, and as a result also because cryptocurrency and btc is revolutionary and the future, a lot of persons got to find out and hear about btc during this time frame.

[jamkesmas]

Does Covid-19 affect Bitcoins?

  I think Bitcoins will be still stable and nothing effects in Covid-19 .and the thing we thought about Bitcoins that it is an Volatile and unpredictable are still continues.

Yes it is true that volatility is unpredictable, market movements can change at any time, but since the pandemic the trend of bitcoin enthusiasts has increased significantly which indicates that some people or investors are looking for an alternative by investing in bitcoin to earn income when the world economy is unstable, so I think The pandemic has had little impact on bitcoin.

[UmerIdrees]

The pandemic made a pretty big impact in my opinion, because many people were doing work at home when the pandemic forced many people to think more about looking for additional income and bitcoin is one of the options most people are interested in to earn extra short and long term income.
What I observed during the first year of the pandemic was that many of my friends and people in my neighborhood were very interested in bitcoin because it was profitable and did not take much time.

Can you tell me know how can you earn bitcoin all of sudden ? Even in pandemic, some people might get temporary online jobs which paid in bitcoin but there were only for those who had the certain skill. It is not possible that you know about bitcoin and the next day, the bitcoin will come in your wallet.

For earning you need to have a skill or a job, then then you can get the payment either in fiat or in bitcoins.

[syedakhlaque]

The covid-19 shake the economy of the entire world. It fell bad affect all kinds of currencies including traditional currency, plastic money, E-money, and digital currency also. The fall of digital currency started at beginning of the covid-19 last year 2020. It crashed not only bitcoin but also all sub coins. All communities and traders that work on digital currency faced great losses due to covid -19.

[AakZaki]

Covid-19 provides an opportunity for people to further deepen their knowledge about bitcoin, because they have to quarantine and not be patient. they started investing in bitcoin because it can be done very easily, because they only need an internet connection to access it.

Coupled with the stimulus funds provided by the government which are used to enter bitcoin investments. Bitcoin is increasingly in demand so the price continues to rise and is able to reach new ATH during this pandemic.

Bitcoin adoption also continues to emerge which proves that bitcoin has a lot of fans.

[Cling18]

I could see the positive impact of the pandemic in the growth of Bitcoin since 2020. If we'll look at the previous price of Bitcoin, we'll see how it increased because more investors have switched to it over other investments. People are now focused on digital currency since we're mostly doing transactions online. I believe that as the pandemic affects Bitcoin positively, it could also benefit the people who are affected by the pandemic in return.

[bryant.coleman]

Others may disagree, but from what I have seen so far, the Bitcoin market has behaved in synch with the other markets in mainstream economy (stock markets, bullion, real estate.etc). When the markets crashed in March-April last year, the Bitcoin prices also collapsed (although it recovered to previous levels, around the same time the recovery occurred for the mainstream markets). So it will be wrong to say that COVID didn't had any impact on the Bitcoin prices. If the stock markets were impacted by the pandemic, then cryptocurrency market was also affected. 

[Pokapoka124]

The pandemic affected Bitcoin price as it did to the stock market. Bitcoin dumped significantly in march 2020 weeks after stock market crashed too.
 

Covid has positively affected Bitcoin.

 At the height of the pandemic, WHO, CDC advised folks to reduced handling of conventional money, banking transactions, and automatic teller machine (ATM) transactions were brought to a halt to avoid spreading viruses via contact. At this time bitcoin became the most available online money enabling a more secure transaction process as online shopping exploded.

Online shopping exploded? How many businesses in your local community accept bitcoin as a means of payment or have a bitcoin ATM at their disposal?

[wxa7115]

if the pandemic is not resolved there are 2 things for bitcoin that might happen
1. bitcoin can be destroyed because the global economy is collapsing, and the demand for all crypto sectors decreases so that the price of bitcoin decreases.
2. bitcoin will be easy to pump, because many people are in bitcoin and they transfer assets to bitcoin.

these two points can be an early prediction of how the pandemic will affect bitcoin. but in my opinion the most important thing is how the correct pattern of bitcoin movement in the future is most important.

That depends on what you mean by the pandemic being resolved, it is unlikely that it is going to get any worse than what already is and if that is the case then I do not really see any of the two scenarios that you are suggesting happen, bitcoin is is going to move according to its own dynamics.

However if things get any worse then it is going to be interesting to see what will happen, personally I think we are seeing the governments losing control of the economy already and if things got worse then it is fair to assume that they are going to lose control even faster, and under those circumstances people are going to try to find a way to save themselves from that instability and in my opinion many people are going to choose bitcoin in order to protect themselves from such event.

[kolonel_x]

Talking about a pattern for Bitcoin isn't making a lot of sense. I know you could show a graph now and tell me that in certain time intervals Bitcoin moves the same way again and again, but applying a pattern or trying to find a pattern for an unregulated area which has enormous potential impact on the global economy is just not reasonable.
Nobody knows what the regulatory environment will look like in 12 months from now, whether the banking lobby can achieve something that is bad for cryptocurrencies overall. We just don't know until our ideas and hopes become fact.

you have to be able to distinguish between the global economy and what is happening in crypto, these are two different things and I think it would not make sense to relate the crypto market, specifically to bitcoin, to the declining global economy.
I talked about in the previous thread discussing the impact on crypto after the pandemic and if it relates directly to the global economy I don't think it will be in sync because the global economy is not directly connected to crypto, especially bitcoin.

[lalabotax]

I think Bitcoins will be still stable and nothing effects in Covid-19 .and the thing we thought about Bitcoins that it is an Volatile and unpredictable are still continues.

Don't this conflict?
Stable and volatile?
Bitcoin prices will always be volatile well there is a pandemic or not.

What happen to Bitcoin if this pandemic did not solve?

Just go on, fortunately, Bitcoin is not something that we need to do offline. SO, it may be many more people reaching here

Does every people in the world participate bitcoin during pandemic?

Too high to expect for all people joining in Bitcoin.

[Renampun]

...

if we say covid 19 has no impact on bitcoin then that's a big mistake...

the price of bitcoin has increased and made new ath when this pandemic is still heating up and makes many people wonder and ask why? even many companies and entrepreneurs make bitcoin their safe haven. Bitcoin is purely a decentralized asset, the pandemic has not troubled bitcoin at all.