Well many people were introduced to bitcoin during the pandemic. But I don't think it cause any massive usage, except for those that are out if cash and converted it into there local currency.
Did the pandemic increase the usage of Bitcoin
- Thread starter cowantussie
- Start date
I think that the pandemic resulted in a lot of people turning towards online work and as a result they have ventured into cryptocurrencies and this has caused the increase in the amount of users for bitcoin and other crypto as well.
I think during the Corona virus season although I didn't have an understanding about crypto trading so much but I believe when people were at on it increases the use of cryptocurrency because that might have been the only mode for payment of goods and services for it to be delivered to people at home.
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Yes the pandemic is one of the reason for the high surge in bitcoin value. Bitcoin was not crossing $10000 before the pandemic , once in december 2017 it was around $20k , but once the pandemic begun , people started working online, got to know about crypto easily , started investing in it and hence bitcoin is now $40k and also went to $60k before few days.
I think the pandemic helped increase profits for most cryptocurrencies. I feel as if, the pandemic was a big reason, because it forced people indoors. Plus, with the stimulus checks, a lot more people and celebs invested in bitcoin and other currencies out there. And with things going back to normal, maybe bitcoin and other currencies will continue to go up.
This pandemic lockdown has tremendously increased the used of bitcoin to an up status manner that give it a sense of influence in the global community due to lack of work done at that time by people and many sees it as an easy way of business transactions which earned a good amount of profit without stress.
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covid-19 lockdown has really opened the eye of people to online investment and business since offline business cannot be opened , and market were also closed down, that was when i started learning about crypto currency.
In fact it really boost the use and growth of the bitcoin and it brought about a huge awareness of the crypto market for all to see and know.sometimesI wish it could continue the price of the bitcoin could have gone further than what it is today. In fact it really helped.
Its nice that the covid19 helped you to learn crypto in the hard way. That's why when something happens, try to to find merits or derit before concluding.
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I think it has, because since pandemic many lost their jobs and also join cryptocurrency, it really help the increase of cryptocurrency so many people continue in invest in cryptocurrency.
The pandemic increased the volume of traders coming into Cryptocurrency ecosystem. The pandemic led people to venture into online earnings and knowing more about Cryptocurrency.
Before the Corona virus pandemic I never knew much about cryptocurrency in general. It was during the pandemic that I got to discover that cryptocurrency is very lucrative and it is the best.
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And then make as increase the usage of Bitcoin because it is one of the easiest source for transferring and exchanging money people now pay others with bitcoin through bitcoin wallet
As at that period yes, but I cant actually say so after the end of the pandemic lockdown, I think the major reason alot of people invested in bitcoins and other cryptocurrencies was because it was among the only few available sources of earning money.
Even now that the pandemic is gradually fading off more people are still making use of it because it helped a lot of us to make money all through the lockdown.
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Yes, most of us here today in the world of Cryptocurrency, came base on the restrictions of movement caused by the global pandemic.
Before the pandemic, Bitcoin has already gotten the volume of users it has and has been getting on a daily basis. But I think this number increased in the course of the pandemic.
Bitcoin has already reached its peak when the pandemic happened but since it occurred , bitcoin price has skyrocketed and its rising and we can categorically says the pandemic has positively affect the price no bitcoin.
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Yes it has increased significantly. Before the pandemic , bitcoin was only $10k and around. But during the pandemic , it has risen with the factor of 6x all of a sudden , its all time high of $60k. So yeah pandemic has left many people working from home online ,which has automatically introduced them to the crypto world and which can be responsible for the surge in bitcoin.
I will rather say that it surely did. One of the main reasons why Bitcoin and some other altcoins rose to that level in the year 2020 was as result of the pandemic. Because there was lockdown in many countries and people were not able to go out to perform their normal transactions so they had to resolve to online transactions through the use of cryptocurrency
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