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Did the pandemic increase the usage of Bitcoin

cowantussie

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May 17, 2021
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We all know that the pandemic creates a lot of restriction in the movement of people and the closure of business which made a lot of people turning their attention and time to online which made a lot of people start earning online and also investing in bitcoins
 
Before the pandemic i dont realky know much about bitcoin and other crypto currency coin but during the lockdown , I was introduced to bitcoin and i noticed people all over starting dealing with bitcoin and other crypto currency.
 
We all know that the pandemic creates a lot of restriction in the movement of people and the closure of business which made a lot of people turning their attention and time to online which made a lot of people start earning online and also investing in bitcoins
The only way I think the pandemic could increase the usage of Bitcoin is when people were out of cash again and they needed some cash so they go on and trade their Bitcoin to exchange it into their local currency I guess.
 
The only way I think the pandemic could increase the usage of Bitcoin is when people were out of cash again and they needed some cash so they go on and trade their Bitcoin to exchange it into their local currency I guess.
That is also another reason why the rise in the usage of bitcoin in the pandemic time
 
To my opinion the pandemic increases the use and patronage of bitcoin all around the world if I can say not only bitcoin but it increase the wide participation of a large number of people into the cryptocurrency business.
 
I don't think the pandemic has a big role in the popularity of the Bitcoin. We have to admit that Bitcoin is the most popular of the crypto currencies around and I there's more than 2,000 of them now. Anyway, what's affecting the price of Bitcoin now is China's crackdown. Bitcoin is prohibited in China whether you trade it or keep it.
 
I don't think the pandemic has a big role in the popularity of the Bitcoin. We have to admit that Bitcoin is the most popular of the crypto currencies around and I there's more than 2,000 of them now. Anyway, what's affecting the price of Bitcoin now is China's crackdown. Bitcoin is prohibited in China whether you trade it or keep it.
Many businesses have been closed due to pendamic situation so everyone is investing in bitcoin The number of users who were among each day is increasing.But for the last 1 week, bitcoin price has been reduced Due to which they are facing loss Because there is loss and profit in business May be the price of bitcoin will be higher again in the coming days.
 
Online presence both in businesses and investments experienced a larger number of people due to the covid-19 pandemic outbreak,which saw many people resulting to online medium.
 
Due to the lockdown I guess people went into searching what do with their time. And this led to the increase in the use and engagement with the Bitcoin as well
 
Yes, it increased, since majority of people lost their jobs, their business based on the increase in the spread of the disease. They came to view crypto as alternative to build side income or full-time income online to sustain the pandemic.
 
Concerning if the pandemic increase the usage of Bitcoin. Well, it is very very obvious that people became familiar with Bitcoin because the pandemic opened people eye to online world and cryptocurrency especially people that have access to the internet regularly
 
The pandemic really made online business and crypto currency popular, the lockdown created an avenue for us to make use of these things. There are so many people that are not even aware of crypto or how it works. I use to think crypto is something hard to obtain until the lockdown and i joined an online forum where i got paid in crypto which actually introduced me to the world of crypto currency
 
The wavelet coherence analysis shows that there is a negative relationship between Bitcoin and the number of recorded cases and deaths at first, but that the relationship improves over time.
 
Yes, I think you are right, since in view of the pandemic many people began to spend more time on the internet and to investigate ways to generate profits. Bitcoin is one of them and nowadays it is the most named and recommended. Many people, including myself, have researched and invested in crypto.
 
From what I've seen, investments that can be made online have become more popular during the pandemic. So many people started looking for online job alternatives and side hustles during this time. Bitcoin has definitely become more popular, though I'm not sure if that is caused by the pandemic. But I have seen some statistics about crypto exchanges and forex brokers that suggest that their traffic increased during lockdowns.
 
I believe that the pandemic did increase the usage of Bitcoin. This is because cryptocurrencies were booming during the pandemic. More and more people traded in Bitcoin and this significantly increased the usage of Bitcoins and other cryptocurrencies during the pandemic. I believe that digital currencies are the future and cryptocurrencies will be used even more in the future.
 
Well you could say the pandemic did indeed have an influence on Bitcoin to an extent because it was during the peak of the pandemic that Bitcoin recorded it's highest value
 
To my own observation, the pandemic increase the activities and the usage of Bitcoin and other cryptocurrency in terms of exchange and also buying and selling due to the adherence to social distance rule.
 
Since everyone is sitting at home, and offline business deeply affected. The alternative to some persons where to invest online, and Bitcoin is one of them. That is the reason why its marketcap grew the best in this pandemic time.
 

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