Quote from: Raflesia on Today at 04:33:43 AM

Quote from: Kelvinid on April 12, 2020, 11:03:52 PM

Quote from: Alhamza24 on March 24, 2020, 04:35:56 PM

Many countries are using blockchain technology to fight against the pandemic.
Why the price of Bitcoin is still down?

I don't think so...many countries allow their people to use blockchain technology but the question is, are they using it now? May be (only a few of them) because not all knows about crypto and not even acceptable in the market pushing them to still use fiat. I don't think that the pandemic will increase the adoption and people will look into crypto. They still have other options in buying stuff in a cashless payment system and that is the use of credit or debit cards.

There are still many speculations about the adoption of the blockchain at the time of this epidemic because indeed it was only used in part maybe maybe 30% of the remainder only using credit and debit cards as you said it.
Many people now do not contact anymore because to prevent being infected, people are still using debit cards to do whatever they need, blockchain adoption has not been fully permitted by the government, so many doubts about it.
Indeed, for the decline, I don't think this is the effect of the current pandemic from yesterday, but has also fallen further.

Maybe it's the basic necessities of the people that has caused the recent fall down of bitcoin value. They indeed sell bitcoin for personal purposes, more importantly their spending needs specially those countries which is totally affected by the lockdown. Economy was totally devastated, yet closing more jobs so we can't expect circulation of money runs smoothly. Most currencies nowadays undergo several problems, but will soon recovers if the global pandemic ends successfully.