Good day,
forgive a newbie question please. I am new on the bitcoin scene and I am also pretty fresh in economics. I am learning, I suppose that is what I wanted to say. I was an ignorant for a way to long and now I trying to gain knowledge to be a little wiser. I got a bit lost because of the pandemic and I wonder is it good to invest in bitcoin and stock market nowadays or should I wait and see what is the market response going to be. I was pretty sure I got a hang of it but the situation changes so dynamically that it is hard for me to follow.
This is difficult to say, in theory we could say a pandemic could be good for bitcoin, after all many people are weary to use cash for their transactions and now they prefer to use digital means to do so and some may be tempted to accept bitcoin, and when we add that governments needed to print trillions of dollars this means that over the long term this is going to devalue their currencies to the point some will realize what they are doing and some will switch to bitcoin.
However at the same time this has slowed down the economy considerably which means people do not have as much money to spend and they will most probably cut on the money they spend on investing in bitcoin if they are already doing it or thinking about doing it, so as you can see there is not a clear picture of the pandemic being positive or negative for bitcoin.