Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: MrSpasybo on November 28, 2020, 12:29:34 PM
-
I have read quite a few topics regarding the impact of COVID-19 on the situation of the crypto market. I think we should take an objective and overarching view of this matter. This is what I refer to and relate to the situation of the cryptocurrency market in Vietnam.
1. Negative effects
-Economy is affected, many people tend to accumulate & limit spending. Of course they also won't be able to invest in crypto;
-Many activities in the crypto world such as seminars or conferences cannot be conducted. Teams are unable to advertise projects or reach potential investors;
- Teams members are difficult to work directly together, they have to work together online which reduces work efficiency. Each person is under psychological and economic pressure, they will not be able to maximize their capacity => progress is delayed.
-Economic pressure causes many people to blindly put money on crypto, and bad guys create scam projects to make money;
2. Positive effects
+ People have plenty of time at home to learn about Bitcoin and crypto;
+ The need for cashless payments makes crypto one of the options to be considered;
+ The economic downturn has made many people see the crypto market as a new object of investment;
+ Many people fear that fiat will devalue, crypto will become a store of assets and a means of transferring money abroad;
+ The need for blockchain-built platforms to share specialties in drug and vaccine research has helped crypto gain indirect attention.
The coin has two faces, and I think COVID-19 is the same. Our job is to stay optimistic, stay healthy and work through a pandemic together.
What is your opinion on this issue, do you want to add anything?
-
I think that is perfect. The existence of Covid-19 has indeed had both positive and negative impacts. and indeed this impact greatly affects the price and other aspects of crypto. And what I felt the most was the crypto price which had dropped dramatically when there was Covid-19.
-
Most likely the effects of covid-19 in Vietnam is the same globally. First stage just Wuhan China. Next spread into nearby places. Then from nearby to different continents and then the world. WHO urgently pronounced the world was in chaos need to anticipate the massive lose of lifes. Unfortunately, different countries had their own approach base on what they think effective. So severe effect happens until now some places are in battle to stop or discover vaccine. Good news humanity is on it.
Economic now is in position to recover again totally and back everything to normal. During lockdown and now crypto is open place to earn regardless of pandemic and natural calamities.
-
Of course, I did not fully study all the pros and cons of the coronavirus on cryptocurrencies, but in 2020 a lot of people began not only to be interested in cryptocurrencies, but also a lot of people began to invest in cryptocurrencies, and big investors who have already long time invested in cryptocurrencies are investing even more in cryptocurrencies during the coronavirus.
-
I agree with your opinion. There are many effects during this pandemic and I see a lot more negativity from the stock market. There is less effect on the crypto market that you can see for yourself crypto is able to survive and more shows a stable price even increasing
-
Of course, 2020 has attracted more people to cryptocurrency. People sit at home and try to occupy themselves and make money on this, and cryptocurrency is one of the ways to make money.
-
I think its more of a positive effect than negative. Why? Because most of the cryptocurrency related businesses, activities or transactions are conducted online, well away from any physical contact. And this pandemic has heightened the need for a cashless society
-
COVID-19 affected world economy but this period has opened up people's eyes to investment opportunities in cryptocurrency. It is during this period that we experienced DeFi boom, BTC price uptrend as well as other altcoins.
I can say that overall, COVID-19 has produced more positive impacts on cryptocurrency than negative.
-
The pandemic has forced people to pay close attention to online earnings. Since various restrictions will continue for at least a year, the attention to cryptocurrencies will only increase.
-
Of course, I would have preferred that the Covid-19 pandemic did not happen, so we could have normal lives the way it was before. Nonetheless, with all the menace and the changes that this virus brought to the global scale, there are always silver linings on the horizon. I was not expecting that cryptocurrency can be able to make a good ride but eventually things are working well for the industry we are in. As part of the online industries, people are on the move towards adopting Bitcoin and the rest of the gang. At the end, 2020 can be a defining year for cryptocurrency, and we are here laying the groundwork that can be setting the direction for many years to come.
-
The pandemic has forced people to pay close attention to online earnings. Since various restrictions will continue for at least a year, the attention to cryptocurrencies will only increase.
It is true that online work must be done during a pandemic because there is no alternative, that is the only way to reduce the ongoing transmission, and we want this pandemic to end soon.
every country already has digital money so crypto doesn't seem to have much of an impact on online purchases during the pandemic. Crypto is only connected if indeed sales have crossed national borders and there are no trading tools that can be used, crypto is needed for that.
so that during the pandemic it looks like crypto is running as usual and nothing changes that are too significant. even though people stay at home, only those who have funds and understand crypto can do it
-
COVID-19 has affected all the business of the world. No sector has remained untouched by this, it has also seen a partial impact on cryptocurrency, but in spite of this, the crypto market is continuously growing and people's interest is increasing day by day.
-
Market Corona virus has suffered some damage. How can an investor enter the market and invest in a time when people are going through an economic downturn? To my knowledge 2018 and 2019 were coronavirus free all the time but still why there was a big scam in the market. 2020 is completely infected with the corona virus, but the market is good.
-
Market Corona virus has suffered some damage. How can an investor enter the market and invest in a time when people are going through an economic downturn? To my knowledge 2018 and 2019 were coronavirus free all the time but still why there was a big scam in the market. 2020 is completely infected with the corona virus, but the market is good.
I think this is influenced by a large number of new investors, who are not very familiar with the world of crypto yet. Their boredom because they have to stay at home makes them look for additional income, so that in 2020 the price of crypto starts to slowly increase but has not yet fully risen, some have stopped because of their losses in investing in crypto without prior research. Sorry this is my personal opinion, so many possibilities are not like the real situation.
-
the effect of corona virus in the world economy is brutal. Not only financial aspect but only life loss. I would rather chose to have bearish market for the rest of 2020 than having covid-19 havocing the entire world population. crypto would gradually rise even without the positive effect of covid-19. Now, the world needs to heal the wounds to recover the tormoil brought by this
pandemic. humanity should move forward find the cure and live life normally again.
-
Of course coronavirus has a negative impact on cryptocurrencies market because many investors and holders already affected by coronavirus and also died. Their reserved cryptocurrencies has no deep of used .
-
I have read quite a few topics regarding the impact of COVID-19 on the situation of the crypto market. I think we should take an objective and overarching view of this matter. This is what I refer to and relate to the situation of the cryptocurrency market in Vietnam.
1. Negative effects
-Economy is affected, many people tend to accumulate & limit spending. Of course they also won't be able to invest in crypto;
-Many activities in the crypto world such as seminars or conferences cannot be conducted. Teams are unable to advertise projects or reach potential investors;
- Teams members are difficult to work directly together, they have to work together online which reduces work efficiency. Each person is under psychological and economic pressure, they will not be able to maximize their capacity => progress is delayed.
-Economic pressure causes many people to blindly put money on crypto, and bad guys create scam projects to make money;
2. Positive effects
+ People have plenty of time at home to learn about Bitcoin and crypto;
+ The need for cashless payments makes crypto one of the options to be considered;
+ The economic downturn has made many people see the crypto market as a new object of investment;
+ Many people fear that fiat will devalue, crypto will become a store of assets and a means of transferring money abroad;
+ The need for blockchain-built platforms to share specialties in drug and vaccine research has helped crypto gain indirect attention.
The coin has two faces, and I think COVID-19 is the same. Our job is to stay optimistic, stay healthy and work through a pandemic together.
What is your opinion on this issue, do you want to add anything?
I think you nailed it mate, great observation but we should need to work beside in this condition, I'm still positive that the vaccine will be available in 2021 and it will give way to brings us back together in face to face setups no more facemask/Faceshield, etc. and the Cryptocurrency and Blockchain summits will be done in the best venue's and we can hug our relatives, friends and love ones, and we can go travel anywhere. It will be nice to stay positive as always.
-
The outbreak of COVID-19 left many Vietnamese in a difficult situation. They lose their jobs or a part of salaries, and many people look to crypto projects to gain additional income, although crypto in Vietnam is not completely legal.
Some scam projects have appeared, such as Bithera, MyAladdinz, cryptostake... to take advantage of this and scam a lot of money from inexperienced investors, most of them are farmers or the old, who have little chance of contact with information and technology.
Unfortunately, we, the people of the Vietnamese crypto community, are still unable to protect those investors.
-
I see that Covid 19 actually give a positive effect on cryptocurrencies...
Many people are afraid to use physical money for fear of contracting it, thus increasing digital payments. covid 19 makes digital currency even more popular.
-
The epidemic lasted all over the world. No one involved in the cryptocurrency market was harmed by the epidemic. But the deaths of people were tragic. The cryptocurrency market has improved a lot. The cryptocurrency market is in a good position. The price of many coins has risen during the epidemic.
-
The covid-19 pandemic situation two different story have been occurred .Firstly people think that I have done everything if I live after the pandemic and secondly people think that if don't take any food death will be happened so need to money get for food . Indeed people suffer for food not affride to corona virus and death .one the other hand many people try to find income source in lockdown and then online bussiness like Ali baba , Daraz . When people give and take products without cash, pay with online banking then people need to virtual money or exchange something to another things . Finally people generally use to trading and blockchain or cryptocurrency .so if we summarize all the story in single sentence in pandemic covid-19 positive effect has been seen in cryptocurrency .
-
I see more of the positive things because if people always look at the negative things there will be no change because everyone experiences the same thing. If there is a positive thing I usually spend more time during lock down reading crypto news or occasionally analyzing crypto prices
-
You are right. Everypandemic or even big situation right now actually;y will always offer the negative and positive sides. And it also depends ds on how a person will take the action and also decision about it. So it is better to not to be too careless or fear of the pandemic
-
You are right at all. Evry condition will give positive and negative impacts. The im[acts will depend on how we take the strategy then. Additionally, it also fee that but to be more careful when choosing certain crypto to hold or evet trading in this situation,
-
Lots off positive investment offers. There is a negativity in crypto market during corona. But last 3 months at the end of this year got a huge positive impact when corona ending. That's a good news.
-
Very good writings here i personally think nCOVID comes for crypto market with huge benefits because many men invested their money during nCOVID season from home as a result market day by day going up and 2nd wave will also make reflect again in market. So stay continue this market.
thanks.
-
I just want to talk about cryptocurrency anymore. I was present at the cryptocurrency market during the epidemic. Then I saw that the cryptocurrencies were about to be destroyed. But cryptocurrency has improved a lot.
-
I once thought that there would be a lot of negativity in crypto during a pandemic. When oil stocks and several other stocks plummet, I am a little pessimistic that crypto can survive when the pandemic begins. But crypto is more likely to survive and have been able to grow and will soon surpass its previous high price or new ATH
-
The level of investment in the cryptocurrency market has multiplied during the global epidemic. Many people around the world have been able to invest from home during the global epidemic. There have been many changes in the cryptocurrency market. Although human death is a tragic event. At that moment, people were looking for different ways of earning income at home, then users found the cryptocurrency market as a source of income.
-
Many countries have suffered economically during the global epidemic. The epidemic has hit the economies of many countries. However, the situation in the cryptocurrency market has improved. The cryptocurrency market did not have a major impact.
-
Every event has its negative and positive impacts. I totally agree with your opinion where I see on the other hand more negative impacts that occur. In fact, Covid-19 has a very strong impact on the economy. In fact, reportedly there will be inflation.
-
The positive outcome is that even the countries that were nit in favor of crypto earlier are now becoming pro crypto and encouraging digital and crypto payments so i think it has been a big win for crypto that will result in more bulls in coming months.
-
Coronavirus has no effect on cryptocurrency. This cryptocurrency market is going to be much better now. If the coronavirus had an effect on this cryptocurrency market, the market would not be good now. It is for this coronavirus that the cryptocurrency market may have begun to rise much higher today. Because now people don’t handover paper dollars which is why this market is being affected so I think prices have started to go up.
-
Exactly, I agree with these. Whatever the condition, this pandemic brings both positive and negative impacts in our life. or the crypto world itself, I am also sure that crypto doesn't disturb too much. Moreover, many more people are willing to join in the crypto world because of this pandemic.
-
Moreover, many more people are willing to join in the crypto world because of this pandemic.
Especially in Altcoins Talks forum.
This forum is a place to earn extra cryptos. They are willing to join but no one who refer them or guide them how. Although they can do it for themselves but it much better if there's someone who give them an attention to understand the important fundamentals in a short time.
-
The coronavirus epidemic has damaged economies around the world. But I think cryptocurrency has helped keep the economy afloat. This epidemic has wreaked havoc around the world. However, there was no impact on the cryptocurrency market.
-
The negative might be that the results of trading in cryptocurrency were not fully felt because during this Pandemic we could not spend the money from trading with cryptocurrency.
The positives I really like what I do now from home because by playing games, looking at computers and trading in the market it can make money from the cryptocurrency market.
Everything has its advantages and disadvantages because this pandemic is like the difference between heaven and earth which always gives a unique diet every time.
-
Additional points for the positive side.
- There will be more food and beverage platforms, more precisely online shops that accept Bitcoin or altcoin payments. What do you think.
- For delivery services / which are more often called goods expedition, no one has yet accepted crypto payments, some of these points will create new jobs because all payments can be paid online with crypto.
-
Everyone really has a hard condition during this pandemic. Joblessness is everywhere. Sof ar, I am glad to be here because I can still earn money from crypto. And well, actually this pandemic also brings positive effects as what you have told. And I agree with that especially the chance of crypto be bigger
-
I think your explanation of the positive and negative impacts of covid-19 is true. And indeed it is precisely with covid that the market is getting busier. Many people spend their time at home. And they are looking for ways how to be able to produce quickly in order to survive.
-
Outbreaks appear to be exacerbated in some lands. Currently the cryptocurrency market is much better. So I don't think the epidemic has had an impact on the cryptocurrency market. The situation in the cryptocurrency market is expected to be much better in the future.
-
+ People have plenty of time at home to learn about Bitcoin and crypto
Somehow it could be true, unfortunately only to those who have access in the Internet and people who have business online.
-
The cryptocurrency market has not been affected by the virus worldwide. Market conditions have improved a lot. At present a lot of people in the market invest and earn. So I think the epidemic is a curse in people’s lives, but not in the cryptocurrency market.
-
I believe it's just minimal and that huge, compared to other financial platforms because cryptocurrencies have an edge over them, In Fact in my country despite that, the pandemic is on the move the usage of cryptocurrency is an uptrend that's why it has no impact at all.
-
I think there is a lot more positives that the crypto market can feel with the global pandemic. Even though this pandemic is bad news for the world, it is very profitable for the crypto market, because this year the crypto market has moved significantly compared to the last few years.
-
The effect of COVID-19 on cryptocurrencies is positive the crypto market is moving forward based on its demand even though people are suffering a lot with the world economy due to the epidemic. The price of crypto has increased a lot this year compared to other years many countries are adopting crypto for their improvement.
-
The effects of covid-19 are almost identical But it is more in some countries and less in others. There is only one way to avoid it Caution
The first stage is only in Wuhan China. The next place spread nearby. Then to different continents and then to the world. The WHO urgently needs to predict the massive loss of life in a world of chaos. Unfortunately, different countries had their own point of view which they considered effective.
-
I think COVID-19 has had a positive effect on cryptocurrency. In the ongoing epidemic, when people's work, movement is limited, people start looking for online based work. As a result, more people are involved in cryptocurrency than ever before, increasing investment
Which has had a positive impact on the crypto world.
-
The global epidemic initially damaged much of the cryptocurrency. Many cryptocurrency projects were forced to close during the epidemic. I remember the owner of one of the projects died of a virus. However, the current state of the cryptocurrency market is much brighter.
-
I think there is a more positive effect than a negative effect. People are adopting crypto as their best investment plan and many business institutions also investing in btc as their long-term investment policy. This leads the market to a new bull season and many new projects came forward.
-
For me personally, the Covid -19 pandemic has not really affected my work and my activities in Cryptocurrency. And what the OP said was true, I spent more time at home and had more time to learn about Bitcoin and Cryptocurrency. But what I feel sorry for at a time like this is those who work as factory workers, because many of them because of the coronavirus pandemic have finally stopped working.
-
This is true that COVID-19 have it's postive as well as negetive effect on crypto market . Still their is new crypto invester who join in lockdown period . A lot of user sell their crypto assest as they holding because they need money in that critical condition .
Due to COVID-19 alot of user project show some delay .
-
The impact on the cryptocurrency COVID-19 is mutual. On the negative side, some projects, due to various restrictions, cannot settle relations with various government bodies regarding licensing. A positive moment is the influx of new interested users who have a lot of free time.
-
The impact of covid 19 on cryptocurrency is positive. As people went into isolation it gave time for them to study crypto and its usefulness.. How people can transact remotely.. This can be seen in the result of the boom the crypto space felt.
-
The covid-19 epidemic has brought some negative changes worldwide. Many people died during the epidemic. Many experts have been infected. Many people involved in the cryptocurrency market have been infected and died. I think it's a shadow of mourning. However, the cryptocurrency market was not too bad at the time of the epidemic.
-
The cryptocurrency market has been affected to some extent by the global epidemic. However, at present it is in a much better position to exert influence. At the beginning of the epidemic, the situation in the cryptocurrency market was much worse. But now the situation has improved.
-
The epidemic has damaged the economies of many countries around the world. But now the economic situation of most countries is much brighter. Because the countries that use cryptocurrencies, cryptocurrencies have a lot of use of them, the level of investment is much higher in those countries. So I think the cryptocurrency market was not destroyed by the epidemic. However, the economies of different countries are under threat.
-
A pandemic for the crypto world is like a panacea, because many people went online, which attracted new users in the crypto world and on the exchange. Unfortunately, of course, in real life there are many negative influences.
-
Covid-19 does have an impact on all economic specs. Both traditional and digital economies. And indeed your exposure to the positive and negative impacts of covid-19 in crypto is very true. I also agree with that because behind the negative impacts, there are positive sides that can be used. And indeed crypto users increased during covid-19.
-
The global epidemic initially damaged much of the cryptocurrency. Many cryptocurrency projects were forced to close during the epidemic. I remember the owner of one of the projects died of a virus. However, the current state of the cryptocurrency market is much brighter.
Some crypto owners force to used their own funds to finance the team and the project at the time of pandemic where humanity sent to lockdown. Despite of the unfortunate things, the world is currently at the progress to officially overcome covid 19. And now there are a lot of good things that happening in crypto place such bitcoin and Ethereum are increasing. Possible to see bull run this year.
-
Lockdown is going on all over the world during the epidemic. At that time various shopping malls, companies, factories, restaurants were closed. As a result, every country has suffered at least a little. In other words, the economy of many countries has collapsed.
At the time of the epidemic, human life was in a state of disaster. Lots of people have died in the epidemic. Many cryptocurrency users have died. I saw in a news where it was said, the CEO of a project has died. Many such news are unknown to us.
There were two types of changes in the cryptocurrency market. A group of people began to believe that cryptocurrency would be destroyed. But a little currency survives.
The positive side of the cryptocurrency market during the epidemic is that a lot of people were leaning towards the cryptocurrency market. Many coins were in good condition in the cryptocurrency market. The cryptocurrency market was not damaged by the epidemic. But during the epidemic, people joined the cryptocurrency market to find a source of income.
The downside to the cryptocurrency market at the time of the epidemic was that there were plenty of new projects in the market. Market conditions began to improve. At that time, the team of many projects killed the investors and left. Their official news revealed the damage.
-
It's hilarious moment right now. I was invested money and lose money in a way I didn't expected. But before Btc pumping i started futures trading and manage to take profit.
-
First phase I got negative news now positive. Now pandemic goes & recovering crypto market. Binance launchpad is awesome for this. I hope you also recover your miss or lose money.
-
First phase I got negative news now positive.
Really?
-
Lockdown is going on all over the world during the epidemic. At that time various shopping malls, companies, factories, restaurants were closed. As a result, every country has suffered at least a little. In other words, the economy of many countries has collapsed.
At the time of the epidemic, human life was in a state of disaster. Lots of people have died in the epidemic. Many cryptocurrency users have died. I saw in a news where it was said, the CEO of a project has died. Many such news are unknown to us.
There were two types of changes in the cryptocurrency market. A group of people began to believe that cryptocurrency would be destroyed. But a little currency survives.
The positive side of the cryptocurrency market during the epidemic is that a lot of people were leaning towards the cryptocurrency market. Many coins were in good condition in the cryptocurrency market. The cryptocurrency market was not damaged by the epidemic. But during the epidemic, people joined the cryptocurrency market to find a source of income.
The downside to the cryptocurrency market at the time of the epidemic was that there were plenty of new projects in the market. Market conditions began to improve. At that time, the team of many projects killed the investors and left. Their official news revealed the damage.
+1 thanks for the helpful sharing
The pandemic has both negative and positive effects, but nonetheless neither of us would expect it to happen. The crypto market is only a small part of the economy, if people continue to die from epidemics and the economy continues to decline, crypto cannot thrive.
All hope is placed in the vaccine, hope everyone will be safe.
-
Yes these things are right. But i think positive sides are more effective. Because of covid 19 many people are using crypto as a cashless payment system. Moreover people are getting more knowledge about investing in crypto. These good sides are more important to me.
-
With the condition of the cryptocurrency market now, I would say positive, this covid-19 is not really affected in the market. All cryptocurrency was already reached in high price. I though this pandemic will be affected the crypto market because the economies were down but crypto market is opposite. Seems people trying to make money in cryptos.
-
Though at first, the Covid-19 pandemic hit hard all over the world, Cryptocurrency thrived well for a relatively new currency. While the stock market saw its greatest dip since 1929 Bitcoin’s price was curtailed to around 5500 USD, which is quite low what it was worth. Coming back to today, it has bounced to around 18,000 USD.
Since Bitcoin is now beating all other institutionalized assets, the interest in bitcoin has been increased. Virtual money has been looked upon as a sanctuary of safety as businesses have been enhancing their digital platforms hence eyeing bitcoin as a lucrative choice. While Banks are heightening their crypto-based resources, PayPal has enabled customers to choose cryptocurrency as a possible choice to cash. China, being a major adversary of the cryptocurrency industry, also voiced its assertion, stating that Cryptocurrency is the leading asset during the pandemic. And it has been proved so, as well.
-
I would say that the coronavirus pandemic has had a more positive impact on the cryptocurrency market than it has brought negativity. During this period, being in isolation, people became more interested in cryptocurrency and entered this market. States are also interested in digitized currencies, based on the fact that cash is the carrier of the coronavirus. In addition, the impending global economic crisis has become really obvious, and here the cryptocurrency is also a lifeline from inflation.
-
More than one year into the pandemic, crypto market seems to have boomed. For instance, when the pandemic erupted, Bitcoin could be purchased for about $7,300. Today, the very same token costs more than $37,500. Other leading cryptocurrencies e.g. ETH, showed similar, or even greater increases.
-
In my country, crypto users increased when people start working from the home. Most of them have plenty of time to spend in the crypto market. Even many of my friends asked me about cryptocurrencies and some of them invested in top coins holding and trading as well. You are right many projects are unable to do offline meetings to reach potential investors because of covid protocols they need to follow On the other hand Economic pressure is there many of them have limited money to invest so they are investing wisely but I must say after covid userbase of cryptos increased. Most of them who lost a job in the crisis are trying their luck in the cryptos.
-
I believe all points are valid but as you said, it is a doubled face thing. I believe that the covid-19 lockdown made more people looked into another aspect of investment and earning even though we had a bit of a dip during the time which I believe was a fud from whales too to accumulate more, overall I believe it was more positive than negative.
-
The positive benefit effect on cryptocurrencies outweighs its negative effect during Covid-19 pandemic as far the prices of cryptocurrencies is concerned the price experienced a bullish run although although in the wake of the first lockdown early last year the price dumped but afterward there was a massive turn around of the market probably due to more people learning more about cryptocurrencies and investing in it.
-
From the current perspective, I regard the impact of the coronavirus pandemic on cryptocurrency as more positive than negative. The negative influence of the cryptocurrency was felt in the price plan only during the period of the official announcement of its distribution, after which such an allegiance was no longer felt. Since then, we can say that such an impact was generally only positive. Although some projects also complained about forced restrictions, these complaints were not systemic. In general, the forced isolation forced people to become more interested in and engage in cryptocurrency. This also applies to states and their bodies. This has accelerated the transition of society to digital currency.
-
There was positive Impacts of COVID-19 on Cryptocurrency. The volatility of the market is inevitable. Still, people were buying cryptocurrency that has made the crypto market appealing among the crowd.