I do not understand the mockery of the people who think the bitcoin price should not be affected or should be going up in a world crisis. I can see we could have bears and bulls in the market and that is understandable but picturing the bull callers like some idiot moron but picturing the bear ones smarter somehow doesn't help at all. Where was this call when price moved from 3.5k to 14k last year? Where was it when it ended with x2 profits for the whole year?
Where was it when the year started with 7k and moved as much as 10k as well? Nowhere to be found. You have figured out that after 400+ days the price finally dropped and bear ones are smarter because of it? I am sorry but if you are right just once every 400 days, that is not really the smart person in the room.
OP's reason is very simple on why bitcoin should go up, it's here below:
cash will carry virus, so bitcoin is the way..
economy is falling down, stocks in red , bitcoin is the way.
IMO, that should be the basic, though cash or paper money carry virus but buying bitcoin is not the best way for the majority since not everyone knows how to transact bitcoin and we know that majority of the world are still using paper money for their medium of exchange.
OP just underestimated the adoption process, it would not happen instantly, it will take time though.
Well we were right, bitcoin DID went up. I know that it goes up and down right now but it is at least trying to break the year to date profit levels and that is good enough for me. As long as break above 7k and stay there, I don't care if it is 7.1k and stays there, that is fine enough. Right now we are trying that, sometimes fail, sometimes try harder, multiple tries are very important as well. Multiple tries tells me that there are people who believe in bitcoin during these hard times and that is the most important part.
As long as there are people who are buying bitcoin during bad times, there will be bitcoin that goes up as well. Maybe in short term we lost some momentum and I know that many of you got upset over it, but long term looks quite bright from here.