Why bitcoin is rising while there have CORONA's impact?

[Bulver 100]

There is more demand, because people sit at home and receive a large flow of information from the Internet, even considering that the cryptocurrency is not advertised in any way, but there are more and more users.

[LocusW 38]

At first it continued to rise, but at some point it impacted and fell over 4,000 usd. The impact of the covid-19 has reached every corner of humanity, everywhere it has left its mark. Look for it on the BTC chart and you will see that it dropped to almost 3,000 usd in no time. Little by little it continues to recover, because the market always adjusts, adapts and follows its course, nothing goes up forever, but it does not go down either. People are also realizing that the usd lowers its price and bitcoin, as it is decentralized, is obtaining more value, and despite the pandemic, people want to have their money sheltered in this way.

Even with 1M deaths from covid-19, the pandemic cannot with the market, it shakes it a bit, but it always finds a way to emerge afloat.

[Shaza Ahmad 1682]

I do not agree with you that the reason is the people's desire to pay using Bitcoin during the Corona crisis, because not all stores support paying in Bitcoin, I think that the price increase was for several reasons, but the most important of them is halving, as the reward for miners has been halved, which made them refrain from selling cheaply.

[Goyaa 2414]

I agree with you, but I don't think that's the main cause, it's the influence of people being quarantined that they can't work and looking for ways to be able to work. They get into crypto trading so that many people buy bitcoin which is the reason for the increase in bitcoin prices, besides that we can also feel the halving effect.

[Amiami 1362]

The real reason is that basically the entire conventional economy was going to hell, that was the main reason why crypto markets are still booming, however the excitement does not last forever and in the same way the exchanges suffered due to the crisis.

 

Another reason could be the instability of political relations between the great powers, two countries that fight each other in economic terms can end up boosting cryptocurrencies.

[cryptovlek 2597]

Bitcoin was in a path to the halving and to reduced supply of new Bitcoins being mined so the drop that happened with covid gave many that were waiting for something like that to buy and hold for long term. It was on a path to do that and a drop helped in fact to bounce and be very bullish in chart for many investors to join.

[Sykkuno 2887]

Bitcoin suddenly became very bullish after making back the losses and having reached to as low as $3700 in some exchanges, perhaps this was the reason many were expecting to buy and the halvening was close so prices started rising again rapidly, also the stock market recovered from a big drop and investors bullish sentiment was back.

[huesca123 946]

Its is false that by using paper money or coins, they transmit the Corona Virus. This has been proved scientifically before the Corona Virus hysterics. The surface of the coins & paper money are to dry to maintain any virus or bacteria alive for any period of time. This has been know for yrs. They are now promoting this false news as a new way to introduce digital money. Dont believe me or what I say about this, do your own investigation / research into this.

[Froshk 1828]

The global pandemic affectd many world economics, and the most reliable and Alternative means of diversion was the adoption of cryptocurrencies based business and that explains the massive acceptance it gots during the pandemic. 

[Syedbesharat 5423]

On 4/10/2020 at 5:17 PM, guatazoo said:

Does anyone here knows the purpose of bitcoin to be rising while the world is fighting due to CORONA crisis?

For me what's I think is that, mostly of people avoiding to use paper money due to the distribution of CORONA, so that's maybe many people are currently buying bitcoin and using it as the payment method.

 

Do anyone here agreeing with me? If you are not agreeing with me, just give your reason why bitcoin is rising with while there have CORONA impact.

During pandemic people were staying at home and all the physical activities were stopped. Their for people find more about crypto and use banking system buy crypto and turn fiat into crypto this is reason for BTC price goes upward. An article relate the growth was 159% of adoption during pandemic because people find it safer then fiat. They use it for payments during pandemic and give thought about it for further  with crypto is safer. 

[Frodler 943]

I Also believe that "the Corona effects" also affected the popular adoption of cryptocurrencies in many countries of the world, most trade where done through cryptos and that was why many players looked inward and accepted the crypto opportunities 

[Mella 3680]

Bitcoin was drop too much because of corona, the drop was more than what anyone believed it could drop and there was the halving event waiting to happen so prices were recovered easily. The halving was very important that gives us now what it does to bitcoin price.

[setifien 1016]

There are many reason for this positive trend ;

Corona Vaccines will be successfully produced in the coming days, thus no lockdown anymore

Other market are rebounding too (oil for example)

[godislovefll 1880]

On 4/10/2020 at 8:17 AM, guatazoo said:

¿Alguien aquí sabe que el propósito de bitcoin está aumentando mientras el mundo está luchando debido a la crisis de CORONA?

Para mí, lo que creo es que la mayoría de las personas evitan usar papel moneda debido a la distribución de CORONA, por lo que tal vez muchas personas estén comprando bitcoins y lo estén usando como método de pago.

 

¿Alguien aquí está de acuerdo conmigo? Si no está de acuerdo conmigo, simplemente dé su razón de por qué bitcoin está aumentando mientras hay un impacto CORONA.

Your logic is very coherent, I agree with you, surely this is what is happening, although I also read that it is due to the presidential elections in the United States, therefore perhaps this is one of the main reasons

[zhoutong 2188]

There are many reasons, first it is people stayed home and were looking the internet for more hours, some were thinking of their financial condition and discovered that Bitcoin price was very low so they risked with what they had. It paid of to them and to anyone bought this dip.

[Adam adam 276]

I think that Bitcoin rose in price due to the injection of large liquidity into the currency from what its value increased. We all know that the Corona crisis has affected the economy because all companies and factories have closed their doors in quarantine, which made owners of major projects enter digital currencies to compensate for their losses.

[annayks 2314]

It dropped more than 60% where do you think it could go, price can't go to zero, this was lower than expected and broken major support and ema that was never broken. Bots went crazy buying this drop and only some whales kept selling and losing their Bitcoin to banks and big funds that were buying.

[jappy 1129]

On 4/10/2020 at 8:17 AM, guatazoo said:

Does anyone here knows the purpose of bitcoin to be rising while the world is fighting due to CORONA crisis?

For me what's I think is that, mostly of people avoiding to use paper money due to the distribution of CORONA, so that's maybe many people are currently buying bitcoin and using it as the payment method.

 

Do anyone here agreeing with me? If you are not agreeing with me, just give your reason why bitcoin is rising with while there have CORONA impact.

You are right in fact it is something like that, and this has increased the demand a lot and has led to its value increasing a lot, there must also be other factors that lead to its value increasing so much.

[yulitzacalvete 1366]

One of the main reasons is that because of the pandemic, many expected the fall of the dollar, so the flow of capital invested in BTC will increase and the other cause is because the btc is a good way to save our savings in the long term.

[Ishtaiq hussain 210]

Do not because of the effect that people have .A lot of people who are Who is working online, because of this, it is very tremendous .Because it is giving a chance to people, these people can count from here .

[Pereira 2303]

The bitcoin increases its value by buying the cryptocurrency, many people preferred to buy the bitcoin to earn their profits because it is increasing exponentially and its volume is not a game, many people also make their transfers through cryptocurrencies for not charging transfer fees between countries, this is my personal opinion.

[Mudasir Riaz 321]

On 4/10/2020 at 5:17 PM, guatazoo said:

Does anyone here knows the purpose of bitcoin to be rising while the world is fighting due to CORONA crisis?

For me what's I think is that, mostly of people avoiding to use paper money due to the distribution of CORONA, so that's maybe many people are currently buying bitcoin and using it as the payment method.

 

Do anyone here agreeing with me? If you are not agreeing with me, just give your reason why bitcoin is rising with while there have CORONA impact.

Yes I am totally agree with you. These days everyone facing this situation of corona virus and they all avoid to shake hands and exchange others things as well so maybe they want to use digital way of transactions. Which is actually quite easy to use. 

[Roan 2166]

I think that the reason for the high prices of Bitcoin during the crisis of the Corona virus is the reason for the high demand for it, and many people sitting at home and searching by earning money, which led to many entering the field of digital currencies, increasing the popularity of Bitcoin and increasing the demand significantly, which led to the rise in prices

[Nupeboy 627]

For me I don't have much reason to give but I think it maybe due to the high price that is getting in the market and mostly people have their bit coin so as the price get higher they now use the opportunity to sell it and gain more money 

[Abbas2.0 812]

Corona is spreading through touching and fiat have greater interact with touchings so many people are converting from fiat to crypto specially Bitcoin