Bitcoin's Image Is Getting Stronger by the Minute

[PALM]

The dollar continues to plummet as the U.S. struggles to reopen due to the pandemic (and the fact that the U.S. has the biggest number of COVID-19 confirmed cases, which gives its economy a very little wiggle room). This situation is expected to worsen--even down to 2008 level--as euro outperforms it thanks to the European Union’s 750 billion euro recovery fund/stimulus package.

Being the world’s reserve currency, however, the dollar is expected to maintain its strength and recover from the downturn as soon as things get back to normal. But how does this dollar downtrend affect bitcoin (apart from an increase in value)? We all know that dollar downtrend normally coincides with bitcoin uptrend, although some say bitcoin's value didn't really increase and instead it's dollar's value that deceased.

More and more people are starting to perceive bitcoin as a store of value (an asset that maintains its value without depreciating), and now that it's rising while other currencies and asset forms are falling, perhaps the most important impact this global crisis is bound to make is help strengthen the image of BTC for the long term. It offers gravity assist that slingshots bitcoin toward the ultimate goal of decentralizing the financial system. But I wonder how bitcoin will perform when the pandemic is over.

[AbdulShiek]

It has been getting popular because it offers promising result.

[Mr. Cid]

It has been getting popular because it offers promising result.

The positive feedback of the investors boosts the reputation of Bitcoin all over the world.

[sashavich04]

who expects this?
i'm no expert but i've been reading a lot of experts talking about how there is going to be a crash soon thanks to the extreme amount of dollars that Fed has printed over the past decade specially the gigantic jump in printing dollar over the past couple of months. Oer the past month bitcoin price has gone up about 36% but dollar value hasn't yet tanked that much.
so bitcoin value did rise but it has nothing to do with dollar value dumping. not yet anyways.

[Alexthedefender04]

Bitcoin so far is doing great at this point in time, when this pandemic is over it will be even, better people comes to realized and many are now doing it that Bitcoin is a haven for their investment and assets, Cryptocurrency is performing better than all the other assets in the world and one of the first to recover, took only two months to fully recovers, I expect many countries to change their bad perception on Cryptocurrency.

[Newbie_trader]

The Bitcoin has been getting more popular since it reaches to 10000 USD two months ago. I heard there's a spike of investors last month.

[darexgeorgieviya04]

Yes it is the pandemic by far is it's biggest test and it's hurdling the test successfully, we can see not only a big rebound but potential of a new all time high, now and the weeks and months to come is important because we will see if the halving and the investors shifting to Cryptocurrency will really have an impact in the market.

[Mr. Cid]

The Bitcoin's reputation has been getting more popular despite the pandemic. Many people opt to invest in the crypto world because most of them left unemployed and no resources at all.