What if another global lockdown happens? How will it affect Bitcoin?

21 replies 329 views
LuckyByteMember
Posts: 142 · Reputation: 58
#1Jul 28, 2023, 07:37 PM
If we end up in another global lockdown, what do you think will happen to Bitcoin's price? Will it crash like before or bounce back? History shows BTC always recovers eventually, but that initial drop can sting.
2 Reply Quote Share
0xGuruNewbie
Posts: 190 · Reputation: 19
#2Jul 28, 2023, 10:24 PM
Didn’t BTC actually hit a record high during the last lockdown? Sure, the price dipped first, but it also soared later. The question is how well the world adapts this time around.
0 Reply Quote Share
tom.maxiSenior Member
Posts: 17 · Reputation: 1221
#3Jul 30, 2023, 12:13 PM
Yeah it could drop initially. People panic and sell at the first sign of a crisis. But long-term? After Covid, everything bounced back pretty well, including Bitcoin.
3 Reply Quote Share
boss777Senior Member
Posts: 200 · Reputation: 900
#4Jul 30, 2023, 02:10 PM
I really doubt we’ll face another long-term shutdown like we did with COVID. The current viruses are serious, but we have more tools at our disposal now. Crypto did take a hit last time, but it outperformed a lot of other assets.
1 Reply Quote Share
topbl4stFull Member
Posts: 119 · Reputation: 562
#5Jul 30, 2023, 02:50 PM
Lockdowns in 2020 wrecked the market at first, but by the end of that year, Bitcoin was on the rise. Now we’re seeing signs of a potential bear market, but who knows what will happen next.
0 Reply Quote Share
planktonHero Member
Posts: 1284 · Reputation: 2049
#6Jul 30, 2023, 03:27 PM
If another pandemic hits, it’ll affect everything. Stocks, commodities, you name it. Panic will cause people to sell, but I think that could also be the best time to buy more.
5 Reply Quote Share
Posts: 124 · Reputation: 3
#7Jul 30, 2023, 07:49 PM
Initially, markets crashed. But then the Fed printed a ton of cash, and that’s when Bitcoin started climbing. So if another crisis leads to a liquidity boost, we might see a repeat of that.
1 Reply Quote Share
diamondhandsHero Member
Posts: 200 · Reputation: 2112
#8Jul 30, 2023, 10:52 PM
Not sure about that. If people can’t buy Bitcoin due to economic strain, it will definitely hurt the price. A lockdown could lead to lots of forced selling.
4 Reply Quote Share
rocket88Newbie
Posts: 25 · Reputation: 3
#9Jul 31, 2023, 04:58 AM
If another lockdown happens, I think it’ll be short. Governments learned from the last one, so I don't expect a long downturn for Bitcoin.
1 Reply Quote Share
0xHodlerMember
Posts: 285 · Reputation: 42
#10Jul 31, 2023, 09:48 AM
Honestly, if a pandemic hits, it’s not just crypto that gets hit hard. Everything takes a dive. Bitcoin won’t be the only one affected.
0 Reply Quote Share
node07Senior Member
Posts: 24 · Reputation: 1808
#11Jul 31, 2023, 10:28 AM
Nipah virus is trending now, but it’s not a new threat. The panic around it reminds me of 2019. But Bitcoin is risky, and it won’t thrive in a shaky economy.
0 Reply Quote Share
alt_foxNewbie
Posts: 59 · Reputation: 36
#12Jul 31, 2023, 03:54 PM
True, but if things get bad enough, people might need to sell off assets just to survive, including Bitcoin. Survival trumps everything.
0 Reply Quote Share
kevin_bridgeFull Member
Posts: 196 · Reputation: 677
#13Jul 31, 2023, 04:24 PM
You can’t predict Bitcoin’s movements based on past events. Each situation is unique. Market demand will dictate its price.
5 Reply Quote Share
SwiftForkMember
Posts: 250 · Reputation: 145
#14Aug 2, 2023, 11:17 PM
Yeah, but the fear surrounding pandemics can drive prices down quickly. Past experiences don’t guarantee future performance.
4 Reply Quote Share
laser_nodeSenior Member
Posts: 63 · Reputation: 823
#15Aug 3, 2023, 04:19 AM
The real issue is how the global economy reacts. If people lose jobs, they’ll liquidate assets like Bitcoin just to get by.
3 Reply Quote Share
cobra42Full Member
Posts: 93 · Reputation: 617
#16Aug 3, 2023, 06:39 AM
I just don’t see another lockdown happening anytime soon after what we just went through. If it does, Bitcoin will feel the impact, at least temporarily.
3 Reply Quote Share
Posts: 67 · Reputation: 18
#17Aug 3, 2023, 09:58 AM
I’m with you on that. Everyone’s still in a volatile mindset since COVID, so any hint of trouble could send shockwaves through the market.
4 Reply Quote Share
mr_apeNewbie
Posts: 401 · Reputation: 35
#18Aug 3, 2023, 01:45 PM
But aren’t we overreacting? Bitcoin has been resilient. It might dip, but if history teaches us anything, it’ll find a way to bounce back.
2 Reply Quote Share
gigaapeNewbie
Posts: 8 · Reputation: 9
#19Aug 3, 2023, 04:31 PM
It’s a double-edged sword. Panic selling could cause a sharp decline, but it could also be a buying opportunity for others.
3 Reply Quote Share
Posts: 11 · Reputation: 150
#20Aug 3, 2023, 06:55 PM
Yeah, but we can’t ignore the fact that some people will just need cash. That instinct to survive is strong.
4 Reply Quote Share

Related topics