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

[Cryptic 0]

I think halving has a great influence on the price of BTC and also I have noticed that every single day there are always a new member coming in thing forum so I think many people nowadays finding a job which is online and gives a decent income. So it would already contribute to the price of btc since supply and demand are the main factors why the price of any crypto and assets have changing.

[safwan944 54]

In this pandemic situation everyone is sitting home alone in quarentine and cant even earn a single penny thats why everyone is coming in this sector to invest and trade to earn money easily.beside this its very simple and easy to operate by anyone.

[Ndayebo8 0]

the nature of bitcoin as a digital currency it helps keeping physical contact much less than fiat money which is probably why it regained value after the initial drop

[Zeshan Khalid 2577]

Corona have equally affected every sector and every currency while people sitting at home have started working online and earn bitcoins that's why bitcoin is rising in value

Corona have equally affected every sector and every currency while people sitting at home have started working online and earn bitcoins that's why bitcoin is rising in value

[yonkii 3205]

I think that people decided to use Bitcoin and change the problems of the dollar because their bank started printed. I read many tweets about the Powel that is the head of the central bank and had been talking about printing a lot. There is a meme about printer goes brrr and many added his to their twitter name. So everyone was afraid to hold the dollar and bought Bitcoin.

[nykas 2812]

There is financial crisis because of covid-19, so many people don't want to lose money, so they find new ways of keeping money and crypto is one of the best, in my opinion. Bitcoin have already proved that it's one of the best asset for keeping money safe, so many people use it while world situation is unstable 

[Mike1515 2977]

The price of bitcoin changes with time and the truth is when you look around there is bound to be a time to which we are able to balance everything the right idea today is to make sure that you are able to follow teh technical part of it, the reason bitcoin rose was simply because when you look at what happened there was  a certain form that perfectly worked for me, ther giht idea today is to follow the good things of the market and in this way , bitcoin responded to the effect of halving and nothing more

[rayzim786 1]

Many people lost their jobs bitcoin is very attractive as a way of income to everyone. Lots of investment sites trading and leasing you can make passive to full time income from bitcoin. Also because it is contact less and everyone feels more secure buy with bitcoin just scanning a QR code you can buy any product online and at stores.

[Flying11Horse 45]

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

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

Yes you are right @guatazoo,In this pandemic people are searching for ways for making themselves secure and at the same time do their work.So many people have been transferring their money in to online accounts and buying bitcoins and other cryptocurrencies.As Bitcoin is famous so most of the people have bought Bitcoin.And another reason maybe that traders have sold most of their Bitcoins in the market.

[sarahmoses202020 251]

On 4/10/2020 at 1:17 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.

Corona virus has really affected a lot of sectors and it has caused it to crash. It affected the crypto world in March but after 2 months. Crypto began to recover and right now it seems that the pandemic has brought more investors into crypto sector 

[Gluttony 1775]

I agree to what you have said since we are facing a virus that is so deadly that we needed to adjust ourselves by limiting the contacts we made through our transactions whether money is involved or not and also we are limited in going outside of our home. I also think the reason why bitcoin is rising despite of the pandemic is because of the people have now more time inside of their house and other people have suffered of not getting payment due to the most of the economy is being closed. They wanted to know other ways to get a way of living so that they could survive and sustain the needs they needed as a living person. Because of this may be why the attention of the individual diverted to digital space and starts investing to earn digitally.

[Onden 2098]

In my opinion, the increase in the price of bitcoin is not because many people have switched to Bitcoin payments, people are using fiat debit cards to transact, so it is more dependent on the cryptocurrency market itself, or maybe the lockdown effect. Thus making people invest in the crypto market.

[Mella 3680]

I will tell you why. Because many that were outsider like me and we want to find good prices we were bought when price was down so much. I am had not know anything about Bitcoin but when markets go down a lot I am read that Bitcoin was down 70% so I gave the risk and bought and trade from that time.I am bought at 6000 and 7000 and trade with many coins that have made more profit. But from the summer we are slower and I am stop the trade a lot and move the investment back to bank and I am only have the profit that is more today.

[bogdanoff 3173]

Bitcoin dropped a lot and made it back to a new year high at 12,000 probably because of the halving and the anticipation of a new all time high but this was not going to happen as we didn't have the same interest from everyone and many were telling things that were making investors leave as we've seen with Portnoy. Some people are not very good in promotion so maybe we should leave the explanation of Bitcoin to a few that understand and can talk about it.

[percare 3192]

Prices not just drop forever and go to zero, there are traders buying and this was a very good time to buy. Asking why sometimes does not help a lot. There is interest in Bitcoin and millions of people want to own a lot. Price sometimes drop other times it rises. Was the bitcoin network affected by corona? It seems that only one mine in china was forced to shut down for a week and nothing else stopped.

[babaji 1228]

I think there is more to this issue then just what meets the eye. Coronavirus have wrecked havoc on world economy. Most economies have banks at the centre of financial activity. Banks takes money from the people and give it to others at higher rates. When economy is doing good then these loans are returned in time, but when something like pandemic affects the world, the loans are not returned, in some cases cannot be returned, that causes the banks to declare these loans as NPA (non profitable assets). When economy is good, these bad loans are wiped off by government, but in pandemic, when the national treasury is leaking money from all sides, then these NPA remains as bad loans. And when these bad loans crosses a threshold figure, then the bank is declared bankrupt, and all its financial assets is seized by the central banking authority, along with it goes your own financial deposits, Do you still want to take that risk and keep money in banks. That is the reason, prices of bitcoin is still soaring. 

[MalikAdnan 1662]

Yes it is true there is bitcoin price definitely rise in the market. It is depend upon market and people thinking's. So peoples interest can raise price of anything 

[Irungu 4299]

The rise and fall of bitcoin this year, whether up or down , was not related to covid 19 and people need to understand this, the fall was in rediness to get prepared for the second halving of bitcoin, but the truth is , most analyst could not comprehend how bitcoin was not affect but the truth is and still remains that it is not about covid,bitcoin is not related to the economies of the world

[Swapzone 174]

While sitting back at home doing nothing, people are curious to try new things and Bitcoin is where people are interested in. That's one of the reasons!

[jack23456 81]

Such as critically We believed how the effect on the actual distribute from the Corona computer virus had been the main reason for the worthiness associated with bitcoin becoming almost stagnant upon it's worth. However lately the worthiness offers often develop upwards. And it is close to $7000 as well as somewhat over this. The character as well as design associated with Crypto recently offers becoming unknown.

[Mike1515 2977]

I think the price of bitcoin is usually influenced by how the demand is the truth is most people usually dont understand what to do in the most of so many cases there are so many struggles that one goes through and the truth is in the end that would be the right idea to value in the end so the truth remains the work we do is really important

[Guru2050 8284]

30 minutes ago, Swapzone said:

While sitting back at home doing nothing, people are curious to try new things and Bitcoin is where people are interested in. That's one of the reasons!

Yes It's irresistible and undeniable facts @Swapzonebut actually this should be of increasing in number of people joining Crypto currency. But in terms rising of the Crypto currencies value at the global market, this should be attributed to its number one unique and special feature which high volatility in nature in conjunction with some external factors such as demand and supplies.

[williamjones 57]

Personally, I think investing in a bitcoin can be quite an excellent economic recovery. We have been offered the bonus when this kind of pandemic will be accomplished as well as the bitcoin exchange will be restored, the huge benefits will surely become quite definitely.

[Maaz sultan 265]

No i think that when COVID -19 starts the crypto market goes to high dump and that is called  corona dump and you know that every doum in crypto market make a high pump and when coronavirus lose the strength the market goes to very high .

[Ahmed1392000 15]

I think because of this pandemic, it has affected paper currencies negatively. On the other hand, it has affected them positively because people have become avoiding touching banknotes to avoid infection with the Corona, so they leaned more to digital currencies