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

[Thinker009]

The pandemic really had a major blow in the price of the coin ,I think it increased it more , because it was during the pandemic we saw Bitcoin reach its highest point ,I actually just wish that could continue to happen Without the pandemic

 

[Laurentta]

Like you said, request changes the cost of bitcoin, the more people that purchase and hold bitcoin the more the price goes up. A lot of people purchase bitcoin due to the outbreak of the pandemic and that is why the price of bitcoin continued to surge up.

 

[Toyoabasi]

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.

All said!
I think that's how it works, the more the demand placed on the coin by potential buyers, the more the coin and the higher its value.
During the pandemic, a lot of people resorted to online means of making money, including bitcoin. That's why the coin grew.

 

[HayKay]

Bitcoin has always from time and records available shown that anytime it goes down, it bounces back a lot better and has never fallen short of such expectations.
Another thing is that it's nearing the limited supply volume available so demand is consistently high.

 

[Popular]

The pandemic actually triggered people to work online as a result of being indoor, thereby being an added advantage of time to invest online and it's mainly on Bitcoin.

 

[Chibson]

The demand for bitcoin went to very high during the Corona virus pandemic for so many reasons. One of it is that some people are actually afraid of inflation and they have to move their money to bitcoin. There are also a lot of other factors that made bitcoin to reach its all time high.

 

[Smiles20]

There was news that was spreading around that time that a lot of inflation is going to come around and the best way for people to be able to beat that was by investing in Bitcoin.

 

[Robust]

Actually despite the lockdown and covid 19 pandemic, cryptocurrencies was very popular and common to people because it is an online investment that just need you to have a good smart phone and internet connectivity.

 

[tyrim88]

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.

One of the things that makes the surge of cryptocurency are many,the volatility in the market could be as a result of an interest of a big whale investor,and also the factor of demand and supply play a major role also.

 

[Sincerem]

All these things is according to the law of demand and supply. The price of bitcoins and its overall cryptography is not hundred percent predictable. There are so many factors that leads to a huge increase in the price of cryptocurrencies. During the pandemic it seems people transacted more with digital currency.

 

[Chibson]

All these things is according to the law of demand and supply. The price of bitcoins and its overall cryptography is not hundred percent predictable. There are so many factors that leads to a huge increase in the price of cryptocurrencies. During the pandemic it seems people transacted more with digital currency.

Yes, during the Corona virus pandemic many cryptocurrencies performed excellently. This is because a lot of people were looking for alternative ways of making money and the comfort of their homes and cryptocurrency was a viable option.

 

[Sincerem]

Yes, during the Corona virus pandemic many cryptocurrencies performed excellently. This is because a lot of people were looking for alternative ways of making money and the comfort of their homes and cryptocurrency was a viable option.

From research I have carried concerning the movement of cryptocurrency during the pandemic , a lot of cryptocurrency drops beyond a point we could not possibly imagine and a lot of investors were losing interest and confident in cryptocurrency as a whole.

 

[Chibson]

From research I have carried concerning the movement of cryptocurrency during the pandemic , a lot of cryptocurrency drops beyond a point we could not possibly imagine and a lot of investors were losing interest and confident in cryptocurrency as a whole.

Shiba Inu is one of the cryptocurrencies that actually made a lot of people to regret investing on it in 2020 but a time came when it made a lot of people millionaires. I think patience is very important in cryptocurrency especially when you believe in the project.

 

[danielmeyers]

Bitcoin has always from time and records available shown that anytime it goes down, it bounces back a lot better and has never fallen short of such expectations.
Another thing is that it's nearing the limited supply volume available so demand is consistently high.

I really want it to happen as you say. Although the last 6 months have not brought me optimism, I had to worry a lot. Believe me, for me as someone who does help with assignments on https://writemypapers4me.net/do-my-assignment this is a great loss. The last month has given me hope that everything will really be okay.

 

[Syldan]

Acactually no one can tell exactly how the price of bitcoin is on the increase but I may suggest that as a result of the increase in demand and supply for bitcoin in the cryptocurrency market, makes it so.

 

[Sincerem]

Shiba Inu is one of the cryptocurrencies that actually made a lot of people to regret investing on it in 2020 but a time came when it made a lot of people millionaires. I think patience is very important in cryptocurrency especially when you believe in the project.

I was very much around when Shiba Inu was created then. A lot of people who were just believing that it was another cryptocurrency that is created to scam people but the cryptocurrency in returns make a lot of people millionaire as you said. I regret not investing at the early stage.

 

[Chibson]

I was very much around when Shiba Inu was created then. A lot of people who were just believing that it was another cryptocurrency that is created to scam people but the cryptocurrency in returns make a lot of people millionaire as you said. I regret not investing at the early stage.

I actually did not come across the cryptocurrency as of then until it was listed on binance. I think I could have invested on it if I noticed something about it when it was created.

 

[FishNPips]

Comes down to what USD is doing end of the day. If it is perceived to be risk off then money floods out of USD and into equities and crypto. If it is risk on then the opposite occurs. The ATH was allowed to happen as people also found themselves with more spare cash than normal as they had been locked down.

 

[Sincerem]

I actually did not come across the cryptocurrency as of then until it was listed on binance. I think I could have invested on it if I noticed something about it when it was created.

This way the era of shitcoins and there were so many shitcoin that were doing perfectly and some were not. It will be very difficult for you to know the type that will possibly be listed in binance.

 

[Chibson]

This way the era of shitcoins and there were so many shitcoin that were doing perfectly and some were not. It will be very difficult for you to know the type that will possibly be listed in binance.

That's true, presently I have some meme coins I am currently looking at that may probably do well in the next bull market. One of such cryptocurrencies is sanshu.