How did Bitcoin manage to reach its all-time high this year despite the pandemic?

[Sotherefore]

We have been believing that anything is possible in cryptocurrency because cryptocurrency is the most unpredictable market I've ever seen,it can turn out completely the other way round of what you expected, it all boils down to the law of demand and supply.

 

[Haveit]

The pandemic really exposed people to crypto currency, myself included as majority were looking for a means to survive and bitcoin brought about that.

 

[babdud02]

I see that this thread is at last year and this year although still remain at top of the market but it has been going down and cause much problem for investors to invest in it

 

[Kelly5]

It got to this all-time high this year in spite of the pandemic because the pandemic had nothing to do with it neither would it have impacted it in the first place anyways

 

[Kunkun]

You said despite the pandemic, and I say maybe the pandemic probably has an effect on suck outcome, buy still it would depend largely of the theory of demand and supply

 

[ahmedo24]

You said despite the pandemic, and I say maybe the pandemic probably has an effect on suck outcome, buy still it would depend largely of the theory of demand and supply

Theory of the demand and supply exist in the Crypto currency market but hyping with unfavourable policies and decision by the major holders easily upturn the market.

 

[Dowenship]

Bitcoin is totally controlled by organic market. Bitcoin has a fixed stock of 21 Million coins mined in the year 2140. Accordingly, the primary concern that changes the cost of Bitcoin is request. The more individuals who purchase and hold it the more the cost goes up. The more individuals who decide to sell it the cost goes down.

Institutional Investors purchasing Bitcoin. Enormous organizations like Square, PayPal Grayscale, and even Countries have bought Bitcoin in huge amounts. This is the essential driver of the ebb and flow buyer market.

If you have any other opinions as to how Bitcoin has continued to surge despite all the odds, please State it.

You will agree with me that during the pandemic nobody is going to work during this time, whearas bitcoin is an online thing, so i think more investors came into crypto during this time.

 

[Nomad]

Price of crypto currency and not just bitcoin will continue to go high as long as there is a demand in the market. The demand means people are buying, when people buy the price will go up.

 

[Sotherefore]

The pandemic Period prompted a lot of people to have interest in cryptocurrency since most of the people were at home .being at home give them an opportunity to do the research and discover new ways to make money online which is crypto trading.

 

[delnovem]

To me I will say during the pandemic money wasn't really in circulation and people were scared to spend cash,so they opt for Bitcoin trading

 

[Josemendez]

To me I will say during the pandemic money wasn't really in circulation and people were scared to spend cash,so they opt for Bitcoin trading

True. In addition to this towards the end of 2020 and in the early days of 2021 there were a lot of Institutional investors in the bitcoin world which made the price to rise.

 

[mcjerry]

Bitcoin is totally controlled by organic market. Bitcoin has a fixed stock of 21 Million coins mined in the year 2140. Accordingly, the primary concern that changes the cost of Bitcoin is request. The more individuals who purchase and hold it the more the cost goes up. The more individuals who decide to sell it the cost goes down.

Institutional Investors purchasing Bitcoin. Enormous organizations like Square, PayPal Grayscale, and even Countries have bought Bitcoin in huge amounts. This is the essential driver of the ebb and flow buyer market.

If you have any other opinions as to how Bitcoin has continued to surge despite all the odds, please State it.

Bitcoin is meant to rise this year like that. The pandemic only delayed the bull a little. And it also makes the coin price to climb that high and be well known

 

[Sincerem]

The use cases of BTC is always high, so expect the price to keep topping up. Even though it sometimes go down in price, but the bullish supercedes the bearish.

 

[Dagm1]

Individuals have actually a lot rate of passion of purchasing the coin as well as maintain. They choose it as a way to conserve as well as spend their cash compare with Conserving therein regional profile. Therefore as individuals purchase as well as conserve the coin, there's greater need that makes the cost to increase. I will certainly likewise think about trading later on for optimum revenue.

 

[Bousine123]

I think the pandemic itself contributed to the rise of Bitcoin. There were lots of transactions during the lockdown and people took cryto as the best form of transaction.

 

[harrypaul]

You have said much but in my own view, I think during the pandemic especially the lockdown period a lot of people went into digital marketing to make some income for themselves as many institution and companies were being shut down.
So this has seen the Bitcoin price going up because many buyers nf traders where in the market during this period

 

[Grant]

Honestly, I think it's because of the pandemic. Think about it. When the lockdown happened, a lot of people had to find work online as they were forced out of their physical, in-person jobs. Now, everyone is working online and trying to find alternatives to making money. And I think it has helped bitcoin and other currencies a lot, because people are taking the chance on them more and more.

 

[Elfinito]

The pandemic is one of the main factor that has seen Bitcoin reached that height.
During the lockdown many people went into crypti trading to earn some money while staying at home and this has seen the demand for bitcoin going up

 

[Kubiat-Abasi]

Bitcoin still managed to reach its all high value because during the pandemic, many people resorted to online search and earnings and they invested their quota.

 

[greenie]

People have much interest of buying the coin and keep. They prefer it as a means to save and invest their money compare to Saving in there local account. So as people buy and save the coin, there is higher demand which makes the price to rise. I will also consider buying and selling later for maximum profit.