Quote from: Xampeuu on July 30, 2021, 07:22:10 AM

Quote from: skybot13x on July 29, 2021, 11:55:00 PM

Quote from: Hippocrypto on July 28, 2021, 11:52:25 PM

One thing I am sighting here with the pandemic is the cashless payment alternative of money, so people had the options to convert their fiat to digital currency. From the start of the lockdown most local fiat exchange didn't have a usual business activities, that's why we experienced huge impact when bitcoin abruptly increasing in demand.
Also with the trading, buy and sell activities increased so fast that's why we reached at an ATH of $60k this year.

It is indeed true that cashless transactions dramatically increased, also because all those grocery stores explicitly asked their customers to use their credit or debit cards for payments in order to avoid Covid 19 infections. However, it is of course not like cryptocurrencies received a boost in usage because of that. Most of the stores that demand credit and debit card transactions don't have the proper infrastructure anyway to receive digital currencies.

the main point is that during this pandemic people tend to use digital systems for payments, so that this virus does not spread easily. in this case it is related to health, but unfortunately crypto has not been able to participate in it, regarding legalization. and when this pandemic occurred, we actually saw phenomenal crypto developments, unfortunately crypto can only be traded not for payment instruments according to its first function

You are only telling half of the story. When all markets crashed around the world at the beginning of the pandemic, Bitcoin also crashed if I recall that correctly. Then against all expectations all markets around the world made record breaking profits on a daily basis up to the point where they broke ATHs despite the pandemic spreading further at full pace. That is when Bitcoin also went up again. Digital payments increased manyfold, but Bitcoin would never have played a statistically significant role in that as it is just too difficult to use on a daily basis for most of the people, mostly the elder ones who switched from cash to digital with their cards.