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

[DavCrypto 298]

2 hours ago, SuperCrypto said:

Of course, my friend, we have noticed over the past days that Bitcoin and the crypto market have returned to rational levels and almost all cryptocurrency prices have been corrected as well and I also expect investors to continue placing their bets on Bitcoin.

Yes, the markets are excellent in recent days, but I think that today and tomorrow there will be a little bear market and it will be a good time to buy when we see prices drop a little and then they will rise again.

[Honny143 13612]

I agree with you bro because corona virus effects bitcoin in starting period, and bitcoin prices goes down for 4000$ dollar and then China fight back and comes some normal condition, bitcoin prices move up and comes 6000$ because of peoples investment in crypto to avoid paper currency, because paper currency also spread corona virus.

[Hatred 1388]

On 4/10/2020 at 8:17 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.

I agree wit you. Because of the lack of financial support thy are getting, people are now using cryptocurrency.Well, they think it as a substitute for them to earn money. Because of lockdown or quarantine, they can't go to work and get paid so they are finding ways to earn and they discover the cryptocurrency so bitcoin's demand rise.

[guatazoo 7150]

2 hours ago, Hatred said:

I agree wit you. Because of the lack of financial support thy are getting, people are now using cryptocurrency.Well, they think it as a substitute for them to earn money. Because of lockdown or quarantine, they can't go to work and get paid so they are finding ways to earn and they discover the cryptocurrency so bitcoin's demand rise.

For example I've heard that's the demand of bitcoin in Argentina had increased than expected, and this demand are only caused by the corona pandemic affection. 

[guatazoo 7150]

4 hours ago, Binjit said:

definitely corona impect on bitcoin price and second things worlds economy is disturb due to corona
epidemic and before disturbed to bitcoin price but now bitcoin price little rise i think you are right
maybe peoples are avoiding paper money and using digital money or bitcoin

I've noticed one thing, thats the corona has effective to whole world but not whole world in such, but this give opportunity to bitcoin because its been usefully during this moment.

[Treat1234 0]

The rising of bitcoin is as a result of recovery from the downfall that recently happen due to pandemic, you know cryptocurrency has the tendency of recovery within short period of time

[Nab 263]

i think that at the beginning of the pandemic, most of the world´s stock markets were at a loss, so the only way to achieve some of them was through the cryptocurrencies specially in bitcoin.

[Laboni 755]

China is much more virus-free than before. That's why the corona virus has no effect on their economy and bitcoin. China is now free of everything. However, the impact of the virus on Bitcoin has decreased a lot in the whole world. Bitcoin's price is rising and will go back to the previous place.

[Moon 88]

Corona or not, the bitcoin halving is closing and it will probably be rising for the rest of the year or possibly going to jump up like a rocket at some point.

[Ayush Singh 1175]

That's really very surprising stage for all the users because whole of the stock market of countries and tradings have been spoiled up due to this big pandemic of covid-19 while such problems bitcoins are seem to be increased continuously its really a positive impact. 

[utkbq12 284]

Recently, there are more and more opinions that Bitcoin begins to act as a protective asset.This means that cryptocurrency is growing in value during global shocks.

[BitcryptoHan 2557]

It was said before that the price of cryptocurrencies were getting low because of the virus. But now it is clear that the virus as no effect. It is because the virus has no effect. 

[SuperCrypto 7193]

21 hours ago, DavCrypto said:

Yes, the markets are excellent in recent days, but I think that today and tomorrow there will be a little bear market and it will be a good time to buy when we see prices drop a little and then they will rise again.

In fact, this cannot be said about it being a bearish market right now. Rather, it is just a correction for the bullish market that is waiting for an important event in the life of Bitcoin, which is the halving that will change the course of events very soon.

[Moaz 7239]

Perhaps avoiding the use of paper money is one of these reasons, but at the beginning of the spread of the Corona virus, the price of bitcoin decreased dramatically and was negatively affected, but after positive signs emerged that the date for eliminating the virus was approaching, the price of bitcoin rose again

[DavCrypto 298]

3 hours ago, SuperCrypto said:

In fact, this cannot be said about it being a bearish market right now. Rather, it is just a correction for the bullish market that is waiting for an important event in the life of Bitcoin, which is the halving that will change the course of events very soon.

I actually discovered that, I see that it is still rising without stopping, in your opinion will this halving lead to a big rise in prices or may it do the opposite?

[SuperCrypto 7193]

15 minutes ago, DavCrypto said:

I actually discovered that, I see that it is still rising without stopping, in your opinion will this halving lead to a big rise in prices or may it do the opposite?

During the previous divisions of bitcoin historically, we noticed the price rise after suffering a decrease in half, but it ultimately depends on the ratio of supply and demand.

[johant123 1559]

3 hours ago, Moaz said:

Perhaps avoiding the use of paper money is one of these reasons

Very unlikely ... there are enough options to pay electronically with fiat money. People don't need to resort to cryptocurrencies for that. Most people nowadays use a debit card or credit card for their shopping.

[DavCrypto 298]

On 4/28/2020 at 4:52 PM, SuperCrypto said:

During the previous divisions of bitcoin historically, we noticed the price rise after suffering a decrease in half, but it ultimately depends on the ratio of supply and demand.

Now Bitcoin rises daily coolly frankly, but what does this mean? Where do you think he will stop? And if there is a hike at the halving, then what do you think will exceed 12,000?

[Brushless4500KV 4214]

The rising of bitcoin can have many reasons. Two months ago when the fear of Corona reaches its peak, bitcoin lost 60% of its value in just a few days. After a while, when investors saw the opportunity, they started buying bitcoin because the price was extremely cheap (less than $4500). Some people thought that earning some money during the crisis would be a good idea. They also joined traders to buy bitcoin. These purchases helped to rise bitcoin to $7.5K but during the recent days, there was a great excitement in the market and created a big surge up to $9.3K. So, Corona was harmful at first but caused bottom-low values that was very tempting for investment.

[SuperCrypto 7193]

20 hours ago, DavCrypto said:

Now Bitcoin rises daily coolly frankly, but what does this mean? Where do you think he will stop? And if there is a hike at the halving, then what do you think will exceed 12,000?

On the positive side this is possible but the current rise in Bitcoin may face obstacles near the $ 9,500 resistance level. If it starts a negative correction, there are many struts waiting on the downside starting from $ 8,500.

[Maroua 1159]

Perhaps, but I cannot confirm this statement because bitcoin has not yet been approved in many countries. It would be good if your words were correct. I had previously said in a post that bitcoin would be the fastest way to deal in all areas.

[DavCrypto 298]

1 hour ago, SuperCrypto said:

On the positive side this is possible but the current rise in Bitcoin may face obstacles near the $ 9,500 resistance level. If it starts a negative correction, there are many struts waiting on the downside starting from $ 8,500.

It is true, there is a view on that, the positive side is that it has been fixed above 8500 since yesterday until today, this leads to that it will continue to rise, but slower than before.

[SuperCrypto 7193]

3 hours ago, DavCrypto said:

It is true, there is a view on that, the positive side is that it has been fixed above 8500 since yesterday until today, this leads to that it will continue to rise, but slower than before.

It is supposed to cause little resistance in the long run. The $ 8,000 level above is an area where we have seen a lot of selling previously, so it is only logical that we will not have selling pressure only in that region.

[guatazoo 7150]

14 hours ago, bqolarer said:

You explained it quite well, I think the drop to 3k was just out of panic and crypto should've not dumped in the first place because crypto is different from other currencies and you can use crypto without need for a bank or having to touch anything like paper money.

And I think another reasons thats  makes the bitcoin price to rise, this is because there have hopes from Oxford and Americans about the corona vaccine to be available.

[Laboni 755]

Corona has no effect on Bitcoin. Bitcoin's price is rising due to increasing demand. The virus is causing a crisis but the use of Bitcoin is increasing to avoid this crisis and the government is allowing the use of Bitcoin so the price of Bitcoin is increasing. If the demand increases, the price will increase.