Did the pandemic increase the useage of bitcoin

[Richard92]

People Sitting home is the root cause of increase in bitcoin, i can bet it that many of us here just hear about bitcoin but not interested, but this forum enlightened us more.

Yes I will say that the pandemic increase the activities of cryptocurrency buying and exchange especially Bitcoin, heat help people to go through the online business.

 

[Trexxxy]

The price of crypto rose A LOT in the year 2020. However, I am rot sure if pa pandemic was the main reason for this. The fact of the matter is that the crypto was going rood until the recent crash. Whenever a country bans cryptocurrencies, the price of crypto does indeed fall. A recent ban by several countries did affect the crypto price.

Maybe, but I think the prices of crypto rises because of the huge pump, and other factors. Crypto is always unpredictable and we could see rises and fall due to huge factors.

 

[Good-Person]

Yes I will say that the pandemic increase the activities of cryptocurrency buying and exchange especially Bitcoin, heat help people to go through the online business.

Although I am not sure if pandemic was responsible for massive increase in the price of cryptocurrencies, It might be because people paid and got paid in cryptocurrencies a lot during the pandemic and this might have increased the value of Bitcoin and some other cryptocurrencies. This is just my theory.

 

[mcjerry]

Definitely! The price did go up and that pulled more users than ever to the coin. The pandemic also forced a lot of people to shift investment into Bitcoin.

It was also that time people started to know what bitcoin is and they learnt about it for them to make money online despite been indoor

 

[GIFTMICHAEL]

The pandemic brought lots of people online due to the fact the lost their job and they simply want to earn money to sustain, that made them venturing into cryptocurrency.

 

[Ryanmulenga7]

Yes it did it did and we will see. The true price of Bitcoin when the pandemic is behind us and I am eager to see the results but ultimately the price of Bitcoin was determined by people just needing to make more money fast and earn a living by investment

 

[eLdavis]

The pandemic brought lots of people online due to the fact the lost their job and they simply want to earn money to sustain, that made them venturing into cryptocurrency.

True, even in my location, alot of persons joined crypto. Like you said most of them lost their jobs some had to look for extra source of income to secure themselves Incase anything happens to their jobs, so the Bitcoin users really increased.

 

[Thinker009]

Yeah the pandemic increased the useage of Bitcoin , there was huge unemployment level caused by the pandemic and people had no other option than to trade cryptocurrency as well

 

[Sincerem]

I don't think without the pandemic many could've considered investing more in BTC or any cryptocurrency. Due to the fact they lost their job, they had a rethought to invest into cryptocurrency as second choice.

 

[Dagm1]

Certainly! The cost performed increase which drawn more individuals compared to ever before to the coin. The pandemic likewise required some people to change financial assets into Bitcoin.

 

[GIFTMICHAEL]

True, even in my location, alot of persons joined crypto. Like you said most of them lost their jobs some had to look for extra source of income to secure themselves Incase anything happens to their jobs, so the Bitcoin users really increased.

That's one of the reasons why lots of persons opted in into investing more around cryptocurrency. Since they've learned about it, they simply came in to have taste of success through it.

 

[Kubiat-Abasi]

Of course, the pandemic increased the usage and adoption of Bitcoin as a survival strategy. I know a friend who used his fixed deposit to invest in Bitcoin because he saw it as the way forward.

 

[Seno inyang]

It really increased the usage of bitcoin as it attracted the attention of investors a against the pandemic, and it was used as a payment method.

 

[Toyoabasi]

We all know that due to the lockdown imposed by the government which was caused by the pandemic , made a lot of people find means to start earning online

So did the pandemic increase the useage of bitcoin

I think it did.
Compared to pre- pandemic, the number of bitcoin users have now sporadically increased.
A lot of people delved into the online world to search for means of earnings during the pandemic.

 

[greenie]

The pandemic made every one to stay at home so many just have to engage online to be able to make fast transactions so bitcoin became the best alternatives to use , the pandemic pushed bitcoin to more success.

 

[Laurentta]

The pandemic did increase the usage of bitcoin. Before the pandemic a lot of people worked offline but during the pandemic it wasn't possible for people to work online anymore which led to most people investing in bitcoin.

 

[HayKay]

I'll not say the usage of Bitcoin increased but there was more participation in this coin and the crypto space in general.
A lot of people now realised how well the market is growing and to be honest, the FOMO played no small part in this increased participation.

 

[Sincerem]

The cryptocurrency space is so unpredictable because during the pandemic I expected that more people will make use of digital currency to carry out transactions and this should at least increase the price of cryptocurrency. But the price was relatively down which indicate that more people were selling out their cryptocurrency.

 

[GIFTMICHAEL]

It increases the use of bitcoins and other online companies that deals with sending and receiving money since everyone was on lockdown and people couldn't move from one place to another.