As you can see the Bitcoins chart, the value has skyrocket in 2 months after the first major outbreak pandemic coronavirus on January 2020. People start to buy the bitcoins and the value increase towards the sentiment.
They thinking this bitcoins will be the safe heaven towards this pandemic. For the reason, if you move towards to other countries you can sell it online anytime.
This is their perspective which cause this element to bullish. For most people, they tend to see bitcoins can be really the safe heaven money.
In my opinions, the bitcoins is just only worth the credit and it against the fiat currencies towards the major Dollar. While Dollar also has decreased its value as what we can see the central bank trying to adjust so many times the interest rate and clearly they do not know what their doing.
It is a bitcoins that digital currencies which the value that something you do not own. It is just a value and with not many countries accepting the change towards the bitcoins currency. For the I put it bitcoins is a new currencies which we do not own physically but it is still a fiat currency that non-physical.
I just want to records this as my journal and put my ideas towards this currencies. Yes of course I do trade bitcoins but to the somepoint which I do not agree where this digital currencies is be in the sentiment that people look as describe the 'safe heaven' currencies. As what like we saw on the historical and let the history of the Dollar speak for itself.
For the past of bitcoins history, BTC also has got some major crash long time ago and this also happen on the fiat currencies as well.
WIll people purchase the BTC as long this pandemic coronavirus in the background ? Or is it just a sentiment only ? Will Bitcoins drop when all the sentiment towards the virus disappear?
As what I can conclude, this is just a trend. When the trend is over, people will less demand towards it. The price will drop and more event in the future caused it to be skyrocket as well. It is just a pattern.