The impact of Corona Virus to Bitcoin

[bogdanoff 3173]

The coronavirus events were terrible and they are still not accounted but they came and left the big markets for stocks and crypto. Bitcoin can keep moving without a problem but stock markets I don't know if they will keep it going.

[percare 3192]

There are events that can create short term positive and negative position for Bitcoin. If we only look at them then we will be trapped in buying and selling according to news and we always will be late. We have to expect the news and observe the chart because others are doing that better before us and being more strict and experienced. Don't look at the news look at the chart instead.

[Fixfin 2569]

The impact of the coronavirus was a drop from the 10k drop down to 3600 around a month later. This was huge and created difficulties in the crypto world, although some people found the best in it and bought, while youtubers were at a loss and didn't understand it was time to buy the dip. Some poeple do not worth the attention.

[yonkii 3205]

On 2/2/2020 at 5:36 AM, Mandoy01 said:

To me it sounds crazy but this article is claiming that the threat of coronavirus is causing the rise of bitcoins value

It was crazy because the price dropped from there. Bitcoin in my opinion was rising for other reasons for some time but the corona created a mass drop in price and exit from some investors that were weak and worthless selling the bottom. I wish I was in the market earlier and not have to study all day during that time.

Edited November 30, 2020 by yonkii

[annayks 2314]

Anybody can write or say anything and then take it back. What remains is that only a few people in crypto news or the influencer part of crypto is honest and don't change their words later. 

What I found is that the best people are in forums like Cryptotalk. This is better to read and follow people that have something good in their mind and pass it to others. I've found better financial advice about cryptocurrencies in Cryptotalk than anywhere else.

[Shubham kakade 556]

I think there  no any effect of corona viruse in Bitcoin This in digital currencies and all pepoles are in home in lockdown so its users are increas in lockdown and all time high of Bitcoin price in 2020 year so this is very big 

[muhammet güray hut 67]

Yes, the corona pandemic is affecting the crypto market, investors are particularly worried about a volatile market, and many have left the field.

[zhoutong 2188]

There were some analysts that thought it would do good for Bitcoin and they are the same that will tell you anything to short term pump their bags. Also these people don't care a lot about you and of course won't going to help you as they only spread lies and do anything they can they feel will help their finances.

[zagzag 320]

I think it is very difficult to predict exactly how the supply-demand relationship will take shape in terms of Bitcoin price. Because it is necessary to look at what purpose people have in Bitcoin trading. While some people accumulate Bitcoin as a futures investment, some people use Bitcoin as an exchange with other cryptocurrencies. Therefore, I do not think that the Bitcoin price will be affected so much in the context of Corona (Covid-19) alone.

In addition, serious warnings were made by the IMF and the World Bank that there may be a global famine risk, especially for 2021. The growth rates of countries in the world economy are expected to be lower in 2021. I think that the most important problem in the production of basic foodstuffs consisting of agricultural and livestock products will not affect the Bitcoin price.

[Mella 3680]

I am not going to say that cnn makes up stories because there is a lot of controversy but the problem of reporting bad stories is what they are have to look. I am thanks for this news because I was remember the days and was looked for many opportunities this year. Bitcoin was given at 5k for my first time to buy and I was thinking it was a gift.

[JanBomCrypto 494]

Pandemics like coronavirus could not have bad effect on bitcoin, it had effect on economy and make governments to devalue their currencies but not like that for bitcoin, bitcoin price increased and has continue to increase in a way the pandemic did not affected it. 

[kryptonick 2659]

How incorrect was this perception that I was reading and was discussed by many that every bad thing in the world would mean adoption for Bitcoin. It was sickening and only idiots were saying something like that as they can't think at all. When markets panic this happens. Price drops bellow zero as it happened with the USOIL futures and markets dump. I feel there are many stupid people still in the crypto world and some of them that are in twitter should better stop it as they tire anyone with a little intelligence.

[Steffqing 77]

Coronavirus helped cause the bearish run in the whole investment and financial sector. It was in one way a good thing for those who were able to catch it's dip in price but bad to those who buy high and incur those losses

[Sykkuno 2887]

Coronavirus impact wasn't positive as this article suggested and of course we couldn't expect something that would make economies move negative could help cryptocurrencies. Bitcoin was found its support and bounced but it was due to a bounce that happened with stocks too and also gold was risen. It is still difficult to say that Bitcoin won't have any problems when bad conditions happen.

[Didemnisa 104]

I think the coronavirus has had its effect everywhere. In addition to its effects on our lives, it has also created some important changes in the market. For example, the corona caused the dollar to rise a lot. Of course, it got its share in bitcoin.

[guatazoo 7150]

I think the impact of CORONA Viruses for bitcoin was positively, because many people was feared to use fiat because of spreading of viruses, so thats they were transferred to bitcoin. 

[Jromz 2158]

Well, according to the article this effect on Bitcoin's price rising has not been caused by the COVID-19 pandemic per se, but it's an indirect effect of the negative impact of this global crisis on weakening the US dollar. In short, the pandemic has led the federal reserve to print US currency like never before, in  order to "sustain" the economy  through economic stimuli. This naturally weakens the dollar value, benefiting Gold and bitcoin, because investors are looking to safeguard their wealth in these assets.

[Cleaner 2549]

4 hours ago, guatazoo said:

I think the impact of CORONA Viruses for bitcoin was positively, because many people was feared to use fiat because of spreading of viruses, so thats they were transferred to bitcoin. 

@guatazoo...When the corona virus came into the world, it suddenly started dumping bitcoin.  Because at that time many people were terrified and everyone thought that the price of Bitcoin would go down a lot.  However, those who bought Bitcoin then have a lot of money today.  So never be alarmed by the price dump in the crypto world.  However, the epidemic did not affect the price of Bitcoin

[Onden 2098]

I agree with the article that you shared that the price of bitcoin did go up when there was a corona virus, plus there was half a bitcoin, making the price of bitcoin go up faster. When the stock market is in crisis but the crypto market is on the rise right now. So in my opinion, the impact of the pandemic is making bitcoin prices go up.

[Mikasa 2]

I dont think that corona virus pandemic have any affect on bitcoins. As the day progresses it is clear that bitcoin prices are rapidly increasing in this pandemic quite well. 

[Amr90 1064]

It is a logical analysis that one of the reasons for the rise of Bitcoin is Corona virus,
Many people lost their jobs and were isolated at home, thus dealing with crypto became easier for many, especially those who previously owned crypto and bitcoin, found an opportunity to shop through the Internet and pay using crypto.
Also, most of the investors considered Bitcoin a safe haven and invested in it, which led to a significant increase in its price.

[Aledar 48]

Pandemic did very bad things not only with crypto but with all markets, a lot of people lost their jobs, prices of oil, stocks went down, a lot people had depression just because of pandemic, now things are settled down.

[kenan975 54]

coronavirus pandemic has left a significant footprint on the global economy. For this reason, it had a substantial impact on the behaviour of all financial instruments, including cryptocurrencies. It turns out that the fluctuations experienced by the virtual currency market during this period reflect changes in other capital and commodity markets. This market has also shown relative stability during this difficult time. It is another proof that cryptocurrencies can be treated as a mature and full-fledged financial instrument.
 

[Goyaa 2414]

I agree with the article. I think the Bitcoin price increase in 2020 is indeed influenced by 2 factors. Halving and pandemics are driving the increase in the price of Bitcoin, we know that halving always brings an increase in the price of Bitcoin, then this pandemic encourages an increase in the price of Bitcoin because people switch to investing in the cryptocurrency sector because cryptocurrency can be done at home so that the lockdown does not affect cryptocurrency investment, especially Bitcoin.

[Shebiii 203]

Due to covid 19 lot of peoples become unemployed. That is why peoples rushed towards online earning sources. It is the reason that value of bitcoin increases much at this time than other time in history. I think corona support the bitcoin.