The effects of COVID-19 on cryptocurrencies: negative & positive

[FahadBilal 2]

We examine the relationship between cryptocurrencies (namely Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP)) and COVID-19 cases/deaths. This will help explore whether cryptocurrencies can serve as a hedge against COVID-19. The wavelet coherence analysis indicates that there is initially a negative relationship between Bitcoin and the number of reported cases and deaths; however, the relationship becomes positive during the later period. The findings for Ethereum and Ripple are also similar but with weaker interactions. This supports the hedging role of cryptocurrencies against the uncertainty raised by COVID-19.

[ltaa02 52]

it seems that it was neutral because to me the first wave might influence, but it doesn't seem to affect in any way and now everyone has calmed down.

[Ola22 197]

Of course, the Corona virus has had many effects that we are experiencing until this moment, its effects on trade and the global economy were very disastrous and negative, but I think that with regard to digital currencies, I think that its effect was effective and the reason for the need to deal with it because of the ease of dealing with it, specialization and high security In which.

[Cleaner 2549]

I don't know how negative and positive the crypto currency has been for the Corona virus.  However, in the early days of the Corona virus, when the price of cryptocurrency was very low, everyone was worried about cryptocurrency and sold it.  However, gradually the price continues to rise.  Many unemployed people have entered the crypto world for corona.  However, I don't think Corona has had a negative impact on the crypto world

[RoyalHouse01 9]

the most of the effects are on the people not on the cryptocurrency because the cryptocurrency went away from all the effects and  the price has increased but the effects on the people are the same.

[Khuram 4]

i think Crypto currency is totlay depend on digitial currency. In crona there is now such loss for digital currency and . it also help the poor men in every Ciuntry . 

[MrSpasybo 1049]

On 2/10/2021 at 6:43 PM, Kenny Campbell said:

I think covid has for crypto only positive things. People who have stayed home are bored and they are finding out more about crypto, then they are buying it. It is only positive - except the dead ones on corona.

@Kenny Campbell That is one of effects of epidemic on crypto, but it also hurts economy. And when the economy suffers, people will no longer have enough money to invest in crypto.
However, things are happening in the opposite direction right now in America. They tend to use bailout money to invest in crypto ^^

[Jam g 114]

In my point of view your topic  pretty good explained the effect of covid-19 in the field of crypto world.Im totally agree with your positive and negative effect on Crypto World This post is a good one my favour for you that's do work like this brother

[kion 381]

Well, Corona pandemic has been both positive and negative to the cryptocurrecy, but I think that I will say that the positive side had been much more that the negative aspect, because we have seen how the price of Bitcoin and other cryptocurrecies has increased to a new level.

[Adam Stieve 18]

In my point of view cryptocurrency face a both effect positive or nagtive also during the COVID 19. I lose my some asset for some coins amount decrease. Often market is nagtive in this duration.