Coronavirus has made us stay home for months now, Bitcoin's price rised while most stocks crashed. Bitcoin's price rise probably has something to do with Coronavirus, People are staying home, buying things online to avoid contact with other people. My question is are more people being initiated to Bitcoin and are Bitcoins scams more frequent because of covid-19?
Starting with Bitcoin scams, we all know that scammers see everything or situation as an opportunity to scam, so there is every tendency that Bitcoin scams took place but hardly can anyone ascertain the number of (frequent) scams.
On the other hand, I would say yes that many people got into Bitcoin, this is because, people being stuck at home will definitely look for ways to make ends meet, make money and sustain themselves and family, and with Bitcoin activities being something you can look up in the internet, read, study it and so on, they can easily join up, probably learn more about trading and start trading their Bitcoin. I can remember the market dumped when the pandemic was high and then later picked up and have been holding on since them; therefore in my own opinion, it shows people got into Bitcoin then.
A good thing is that, people found opportunities in the crypto space during the height of the Covid-19 while the bad side is that, many scams also took place as well.
So in all ramifications, Bitcoin got many attentions because people got into it.