Yea, I can't invest in Such anymore. If they are interested to gain the trust of people they should have distributed the 2nd version of the coin to people that were holding the original Luna that has gone down the drain.
How did Bitcoin manage to reach its all-time high this year despite the pandemic?
- Thread starter WhiteHouse
- Start date
I think they actually distributed the version 2 to people that were holding the cryptocurrency before the crash. But the value of the ones they distributed is not up to you the ones people were holding before the crash.
It's nice if that is what they have done. I have not been following up the project ever since I understand what happened to the terra Luna. But it seems people are no more trusting the project as they used to
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That is what they did but the trust people have for them has actually reduced. I don't know if the price will still reach about $100 as the original one was before the crash.
It wasn't really easy for people that lose so much during the luna crash .. Imagine people using 50 dollars to buy 500 luna , only to it to reduce to 0.00034 per Luna.. This isn't funny at all .
A lot of people lost a lot of money but at the same time many people also made a lot of money. I lost about $40 on futures in Terra Luna because of the high volatility.
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Bitcoin was able to reach the all-time high during the pandemic due to the fact that it is a digital currency and it is not a physical money. The people now resort to transacting with the digital money during the pandemic because of the social distance law.
I have a feeling that world leaders did it intentionally as a way of making sure that we get to be relieved from the sorrow that the pandemic brought about to the world.
The pandemic pushed a lot of people to work online and spend more time online thereby exposing them more to cryptocurrencies. The more they developed interest, they invest and the rest is just as you have stated.
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Investors where on the lookout of the safest asset during the pandemic and Bitcoin provided a significant safety during that period that's why they invested much on it .
I completely agree, this is consistent with the principle of demand and Supply.
Anytime the investors keep investing the price usually elevates and the opposite is true when the make huge withdrawals.
This is the how the markets operates.
Sometimes all those things that negatively affects us (such as the pandemic) could have a positive effect on some assets which is a good investment opportunity.
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I think people were investing a lots of money in Bitcoin and this is the main reason why the Bitcoin reached a high level. Things have changed so much now for Bitcoin investors.
Yes we just hope that the price of bitcoins will return back to its original price and even more. Just that when this will happen is completely unknown to so many investors.
It's funny that I'm just entitle to tho post after a two years because bitcoin has not actually been going high again this year and it's even going down. But anything can still happen before the end of the year
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Apparently, the pandemic affected Bitcoin but in a positive way.
This might be a great lesson to investors should in case similar occurrence happens .
Should in case similar thing happened in the future, we would always look out for tendencies of strength in the coin and if it is high we would invest without thinking twice.
That's the drill, although that doesn't automatically means that the same thing would happen anytime a pandemic comes in.
We would use this historic data as a point of confluence.
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So many things determine the price and the movement of bitcoins, I was even surprised to see bitcoins at high price during the pandemic period but has dropped so low now beyond our expectation currently
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What Drives Bitcoin's Price? Bitcoin is valuable thanks to its limited supply steadily increasing demand by a greater number of investors. It has also been described by some as an inflation hedge.
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