I think it's not only Russia but other countries also experience the same situation. Stimulus checks are a source of money to flood into the market. Corona pandemic is a great misfortune but it's indirectly boost the cryptocurrency market. Many companies, organizations see the system flaws after this tragedy but many realize the bright side of cryptos.People are bored enough to trade bitcoin during lockdown but I doubt it's just temporary. After lockdown, they will immediately forget about trading and go travelling, shopping, or just go back to their old daily routine, in which there's no place for bitcoin. The only thing that I am glad is that there are more people knowing about bitcoin through this trading activity.
Are you sure? As far as I know, the pandemic or lockdown just triggers the decline in Bitcoin price. Instead, now, the lockdown just brings the effect of bearish or decline in Bitcoin price. Anyway, I ever heard bad news about crypto regulation in Russia currently. Why the Bitcoin can be boosted?
This is happening not only in Russia. Around the world, forced isolation has fueled increased interest in cryptocurrency among people, as many of them lost their jobs at the same time. Searching for a job on the Internet logically led to the emergence of interest in cryptocurrency.
In addition, this was facilitated by the governments of countries, which, due to the fact that paper money became carriers of the coronavirus, began to look for alternative payment methods, including began to show interest in the process of digitizing their national currencies.
Coronavirus Lockdown Boosts Bitcoin Trading in Russia(https://i.imgur.com/DPlIWaL.png)
On June 4, a new study performed by a number of Russia-based crypto exchanges revealed a significant rise in Bitcoin (BTC) trading across Russia since March amid the COVID-19 lockdown.
As RBC reports, representatives from the Russian offices of exchanges like Binance, Garantex, and EXMO, highlighted the growth in the number of users in Russia. This number is relative to the increase in trading volumes from March until June.
Visit For More info: Here (https://cointelegraph.com/news/coronavirus-lockdown-boosts-bitcoin-trading-in-russia)
I think not just Russia boosting the bitcoin trading maybe the whole world doing bitcoin trading during the lockdown. We never expected that the bitcoin price has reached the all time high, we thought that the market will go bearish after the announced of Pandemic..
I think not just Russia boosting the bitcoin trading maybe the whole world doing bitcoin trading during the lockdown. We never expected that the bitcoin price has reached the all time high, we thought that the market will go bearish after the announced of Pandemic..
I think bitcoin still have potentially to beat new ATH at this year mate
But not more 70K USD.
I see bitcoin demand is still high, many investors hold their BTC and altcoin, ,wait the several no short bullish.
So, better to buy and hold now.
In my opinion it is not an important problem for Russia because currently the Russian state is experiencing war and of course they prefer to increase their currency rather than using digital currencies such as bitcoin and others.In fact, currencies like bitcoin are very helpful at this time, where we know that European countries and the US have taken action to embargo Russia. bitcoin's need to address their currency which is clearly not accepted as a means of payment, is very well implemented. So Russia needs an update from accepting bitcoin as a substitute payment instrument, although it has previously refused and is now changing it to anticipate that Russia can still make transactions with anyone.
Corona virus has passed, We know almost all of countries already opened their citizens and do activity normally again.
Bitcoin and altcoin has help us to gain profit during pandemic COVID 19