Quote from: hatshepsut93 on November 01, 2020, 12:17:30 AM

Quote from: Abiky on October 31, 2020, 11:05:23 PM

It seems that during these times of turmoil, Bitcoin's prices are increasing at a slow and steady rate. Since the mainstream economy has been on a downfall, people have been resorting to Bitcoin as a store of value.

How can you call it slow and steady if we went from $10k to now $13.7k in a matter of days? And before that the price was largely stagnant for months and even mimicked small movements of the stock market. Also, there's no evidence that regular people turned to Bitcoin en masse, and that the price boost is caused by that.

What's happening now is just the usual Bitcoin speculation. In 2019 we also reached $13k, without any pandemics or other possible explanations.

Quote from: Abiky on October 31, 2020, 11:05:23 PM

What would be the right thing to do during COVID-19?

Covid doesn't change anything here. There's never a right or wrong answer to "spend or hodl", because no one can predict the future movements of Bitcoin.

In no way do I think that this epidemic of coronavirus has any effect on the rise and fall of bitcoin because no one can say exactly when the price of bitcoin will rise or fall. Bitcoin moves at its own pace so it may be our misconception that this epidemic Coronavirus causes our bitcoin prices to go up or down so it's best to get out of this misconception.