Quote from: Vishnu.Reang on February 15, 2021, 01:11:07 PM

Quote from: citywise2 on February 15, 2021, 12:50:31 PM

Quote from: paiman on February 15, 2021, 04:26:52 AM

The impact of Covid-19 is felt in various parts of the world, besides that it also affects the economy of every country, both developed and developing countries. However, in the world of good trading, especially Cripto, this certainly does not have a significant effect, because during the lockdown period the community tries to keep producing by trading or investing in stocks. Shocked

You may want to know that Covid-19 had rather a positive effect on one hand in cryptocurrency. Aside the lost of jobs and people having to stay at home, the pandemic created a surge in demand for cryptocurrency, given the money from the air stimulus packages most countries had to embark upon was open doors for inflation. Fiat money was losing it's value here and there and people had to turn to cryptocurrency for safe haven.

I can't agree with this statement. In March 2020, when the pandemic started spreading to countries outside China, there was a sharp drop in Bitcoin prices. The exchange rates plummeted from $10,000 to around $5,000-$6,000. On top of that, everyone was expecting a spike from the block reward halving in May 2020. That never happened, probably because of the economic downturn that was resulted from the pandemic. Now the current spike in Bitcoin prices is partly due to the fact that the stock markets are doing good and the economy has rebounded.

Yeah, on a macro scale this just isn't true. Bitcoin was decimated just like the stock market in March 2020. It's because despite what the majority on this board believes, it is not a safe haven during times of economic upheaval and the capital flight from stocks and crypto proved this when the pandemic shutdowns were starting.