ARMAGEDDON On the Markets - page 2. | Bitcointalksearch.org

The Sceptical Chymist

legendary

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Quote from: Oasisman on March 12, 2020, 07:05:27 AM

Now, I'm convinced that the current dump has something to do with the corona virus.

Oh yeah, definitely. I had my doubts at first as well, but right now it's pretty obvious there's panic in a lot of markets and it isn't just bitcoin that's gotten hammered. People want to have cash instead of stocks, bitcoin, or other investments. That might be smart if the virus was deadlier, but I still think people are going irrationally ballistic over this. Most people don't know much about science in general and even fewer about microbiology or infectious disease in particular, so sadly this doesn't surprise me.

Quote from: thirdprize on March 12, 2020, 06:50:06 AM

It may have something to do with the impending virus apocalypse.

Ah, let it come on. I've been waiting for the end of the world for years, and it's sure taking its time. lol

Cptredcap

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I think it reflects on the general public's faith in digital currency in a crisis situation. When everything's losing value maybe they think well if global economy collapses who is going to honor my bitcoin, how am I going to do anything with this?

Before when it was just china it was a convenient way for mainlanders to park there money in a more stable asset (at the time), but now they're getting everyone back to work and perhaps that money is going back into chinese economy.

Mix this and the general panic hive mind and here we are

BrewMaster

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Quote from: avikz on March 12, 2020, 07:57:03 AM

[snip]
True! We have seen such crashes before as well, not once but quite a few times! I don't know how people are relating it with COVID-19 but it seems like the current crash is linked with the scam coin sell off as mentioned by Coindesk in one their articles yesterday.

they are relating it to COVID-19 for the same reason they have been linking bitcoin price with a ton of other unrelated things in the past such as false news coming from China banning bitcoin, the middle east problems, Chinese economic war with US, altcoin dumps, end of the year sale, new year's sale, Chinese new year sale,....
all are excuses to scare people into selling and make profit from them.

Quote from: Slow death on March 12, 2020, 08:04:10 AM

why just now? the price was already at $10500, it wouldn't make much sense to send it back to $ 6000 while they could expect to go up a lot, at least Is what I think

why not now?
the price was already struggling to break $10k so a correction was expected. but in the eyes of a newbie a 5 to 10% simple correction looks scary and manipulators can make same money from the market drop by shorting and buying the cheap coins after manipulation was over.

20kevin20

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Quote from: logfiles on March 12, 2020, 07:16:35 AM

I still refuse to buy the coronavirus thing. I mean how does coronavirus really affect bitcoin unlike stocks which have a backing from those corporate companies that can directly be affected if they are out of business due to restrictions.

I guess it just another normal day for bitcoin.

Panic, hysteria, FUD. If you need quick access to cash, you'd sell anything to get cash on your hands too. Especially in an emergency.

Check an older reply of mine out:

Quote from: 20kevin20 on March 10, 2020, 09:46:46 AM

Some people just cannot hold in the situation we are living right now. A lot of people I know have invested all their savings in BTC a few months ago and today they're out of cash, but they need it to prepare for a potential pandemic. I have personally taken a few days off the forum and the internet itself, because I want to focus on preparing for a possibly really bad situation. Investors have a lot of reasons to sell right now. I fortunately do not rely on Bitcoin 100%, which means I can still live without selling a single satoshi even if the price dumps to $100.

I am now trying to get back into the habits I used to have a few weeks ago. The virus outbreak made me move and add some other stuff to the top of my list of priorities.

Don't worry, times will come when Bitcoin will grow back up. It's very understandable that a ton of people sell for various reasons.

omone1

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You need to have an open large heart in other to stay at peace with yourself when things like this are happening, cryptocurrency is for strong men, otherwise we would have been seeing many old timers collapsing or landing in the clinic for shock resulting from the dumping market. If one has good money, this may be a good opportunity to beat the Whales to their game and retire early when all these trouble waters would have settled.

Mulann2

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It is like a hurricane in the market right now, just within few minutes lots of dump has occurred, seriously, i also do not believe this sudden massive dump has anything to do with the virus, even if it will be affected, it should be minimal and not this huge,
maybe probably all the while that we thought the bear market was over, it was never really over, the dump is too much for it to be as a result of corona virus, it is like 2018 all over again. well the good side is, some good coin are really cheap now, we have discount in all top coin in cmc.

Yaunfitda

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Perhaps the media has something to do to make panic and fear amongst crypto investors that's why at this point its really hard to stop the sell-off.

I also read some TA around Feb that March will be somewhat on the bearish side and will recover on April prior to halving, so everything might be just a coincidence that we have the corona virus scare that is being attributed as the catalyst for the recent crashed.

Slow death

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Quote from: mediaBuzz on March 12, 2020, 06:38:41 AM

What's going on? Does anyone know anything relating to these drops?

This time I agree with the news channels related to bitcoin:

breaking bitcoin crashes 17 in 1 hour below 6k in coronavirus panic

Quote from: BrewMaster on March 12, 2020, 07:44:16 AM

keep in mind that this has nothing to do with Corona Virus. anybody creating a link between the two is spreading FUD and they have never been able to explain why there is a link they just force the link on people's minds.

why just now? the price was already at $10500, it wouldn't make much sense to send it back to $ 6000 while they could expect to go up a lot, at least Is what I think

Quote from: DeathAngel on March 12, 2020, 07:49:35 AM

Seriously why would anybody sell, I don’t see the correlation. This virus will go in a few months & everything will recover so why sell?

it is not so simple, in my opinion people have already realized that things are much more serious. In many countries governments are placing travel restrictions and quarantines. this situation can last a long time and cause many deaths

avikz

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Quote from: BrewMaster on March 12, 2020, 07:44:16 AM

Quote from: mediaBuzz on March 12, 2020, 06:38:41 AM

What's going on? Does anyone know anything relating to these drops?

nothing we haven't seen before!
it is simply manipulation, granted it is one of the biggest manipulation cases we have seen ever for the past 4-5 years but still it is nothing more than market manipulation.

keep in mind that this has nothing to do with Corona Virus. anybody creating a link between the two is spreading FUD and they have never been able to explain why there is a link they just force the link on people's minds.

True! We have seen such crashes before as well, not once but quite a few times! I don't know how people are relating it with COVID-19 but it seems like the current crash is linked with the scam coin sell off as mentioned by Coindesk in one their articles yesterday.

Today I see another article in the same website that points out some possibilities behind the current crash. Read below,

https://www.coindesk.com/bitcoin-hits-10-month-low-below-6k-alongside-new-stock-markets-plunge

There seems to be number of reasons behind this crash and we really don't know what's actually happening in background.

alexsandria

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I i'm pretty sure that the main reason why the downtrend is continuously damping is because on the virus which is the coronavirus or also called covid19 business and establishments are currently dying because of this virus.
last flight for example on what is happening on the china which is the business is currently dying as well as the miners because the number of infected people on their country is continuously increasing.

DeathAngel

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I don’t see why stocks, assets, crypto nose dives because of this virus. Seriously why would anybody sell, I don’t see the correlation. This virus will go in a few months & everything will recover so why sell?

BrewMaster

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Quote from: mediaBuzz on March 12, 2020, 06:38:41 AM

What's going on? Does anyone know anything relating to these drops?

nothing we haven't seen before!
it is simply manipulation, granted it is one of the biggest manipulation cases we have seen ever for the past 4-5 years but still it is nothing more than market manipulation.

keep in mind that this has nothing to do with Corona Virus. anybody creating a link between the two is spreading FUD and they have never been able to explain why there is a link they just force the link on people's minds.

ZeeeN

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Quote from: logfiles on March 12, 2020, 07:16:35 AM

Quote from: Oasisman on March 12, 2020, 07:05:27 AM

I've had heard enough about users who wasn't convinced about the corona virus as one of the main reason for the current down trend.
I mean, the covid-19 is seriously spreading all over the world now, it was different when we thought 90% of infected people has been contained in mainland China, and so we haven't felt any negative impact since January until February of this year. Now, I'm convinced that the current dump has something to do with the corona virus. Though, there's an speculations about the market manipulations, but surely it's because they are riding the pandemic.

I still refuse to buy the coronavirus thing. I mean how does coronavirus really affect bitcoin unlike stocks which have a backing from those corporate companies that can directly be affected if they are out of business due to restrictions.

I guess it just another normal day for bitcoin.

yes im agree with you it normal day for bitcoin no need to worry.

this pattern look like 2018 price drop in March form 10K to 7K

2019 price side way from jan-mar until april price rise up

pakhitheboss

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Quote from: Wexnident on March 12, 2020, 07:13:25 AM

Quote from: Oasisman on March 12, 2020, 07:05:27 AM

I've had heard enough about users who wasn't convinced about the corona virus as one of the main reason for the current down trend.
I mean, the covid-19 is seriously spreading all over the world now, it was different when we thought 90% of infected people has been contained in mainland China, and so we haven't felt any negative impact since January until February of this year. Now, I'm convinced that the current dump has something to do with the corona virus. Though, there's an speculations about the market manipulations, but surely it's because they are riding the pandemic.

The stockmarket, yes. It's understandable why they would took a dive because the companies backing those stocks are also under attack by the virus, with the physical manifestation of their countries being unable to cope with the damages after all. What's confusing is why is BTC also taking a dive? It's an asset completely integrated on the internet and I see no reason for it to exactly be affected by the ongoing pandemic. Manipulation may be one thing, but it being able to drop BTC by $2k seems quite difficult imo, especially with how the other markets are right now.

WHO has declared the virus pandemic. This might be the reason why the stock markets are in red and the same panic has now escalated to crypto market.

Bad and sad day for all of us...

Kakmakr

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I am not convinced that the Corona virus can have such a dramatic affect on the Bitcoin price. This virus have been around for months now and the Bitcoin price was stable. We even had two huge positive announcements, with both India and South Korea accepting Bitcoin as a commodity/currency. Roll Eyes

This is looking more like price manipulation prior to the Halving, because the whales know the Halving will have a further positive impact on the price and they want to scare the "weak hands" into selling their coins to make a bigger profit. Angry

There is nothing negative driving this huge price drop.

logfiles

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Quote from: Oasisman on March 12, 2020, 07:05:27 AM

I've had heard enough about users who wasn't convinced about the corona virus as one of the main reason for the current down trend.
I mean, the covid-19 is seriously spreading all over the world now, it was different when we thought 90% of infected people has been contained in mainland China, and so we haven't felt any negative impact since January until February of this year. Now, I'm convinced that the current dump has something to do with the corona virus. Though, there's an speculations about the market manipulations, but surely it's because they are riding the pandemic.

I still refuse to buy the coronavirus thing. I mean how does coronavirus really affect bitcoin unlike stocks which have a backing from those corporate companies that can directly be affected if they are out of business due to restrictions.

I guess it just another normal day for bitcoin.

Wexnident

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Quote from: Oasisman on March 12, 2020, 07:05:27 AM

I've had heard enough about users who wasn't convinced about the corona virus as one of the main reason for the current down trend.
I mean, the covid-19 is seriously spreading all over the world now, it was different when we thought 90% of infected people has been contained in mainland China, and so we haven't felt any negative impact since January until February of this year. Now, I'm convinced that the current dump has something to do with the corona virus. Though, there's an speculations about the market manipulations, but surely it's because they are riding the pandemic.

The stockmarket, yes. It's understandable why they would took a dive because the companies backing those stocks are also under attack by the virus, with the physical manifestation of their countries being unable to cope with the damages after all. What's confusing is why is BTC also taking a dive? It's an asset completely integrated on the internet and I see no reason for it to exactly be affected by the ongoing pandemic. Manipulation may be one thing, but it being able to drop BTC by $2k seems quite difficult imo, especially with how the other markets are right now.

thirdprize

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Quote from: Oasisman on March 12, 2020, 07:05:27 AM

I've had heard enough about users who wasn't convinced about the corona virus as one of the main reason for the current down trend.
I mean, the covid-19 is seriously spreading all over the world now, it was different when we thought 90% of infected people has been contained in mainland China, and so we haven't felt any negative impact since January until February of this year. Now, I'm convinced that the current dump has something to do with the corona virus. Though, there's an speculations about the market manipulations, but surely it's because they are riding the pandemic.

Just check how the stock market is doing. Bitcoin is just another thing big business invests in.

Oasisman

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I've had heard enough about users who wasn't convinced about the corona virus as one of the main reason for the current down trend.
I mean, the covid-19 is seriously spreading all over the world now, it was different when we thought 90% of infected people has been contained in mainland China, and so we haven't felt any negative impact since January until February of this year. Now, I'm convinced that the current dump has something to do with the corona virus. Though, there's an speculations about the market manipulations, but surely it's because they are riding the pandemic.

thirdprize

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It may have something to do with the impending virus apocalypse. A third of its value gone in a week. Cool.

Topic: ARMAGEDDON On the Markets - page 2. (Read 489 times)