Topic: Bitcoin declined 3% as the coronavirus spread in italy - page 3. (Read 901 times)

The Coronavirus disease has affected a lot of economic activities across the globe but I don't think it is the cause of the recent decline in the price of bitcoin. Obviously for most people or traders who deal in bitcoin, it is largely online basis so I don't see how Coronavirus comes into the picture here.

even if it declines by 3% it will still recover in no time, it always does, maybe the spread of virus has a way of affecting btc or not, but one thing i do know is btc has always experience rise and falls since the beginning and will continue to do so because it was not design as a stable coin,
we can not say for sure the virus is the major reason for the decline or it is just a normal market correction as usual.

In times of fear like these, investors/speculators exit riskier and also more liquid assets, like Bitcoin is nowadays. With time I believe it will be seen as less and less riskier but now it is still seen as a riskier asset.

People only need reasons of rises or falls so they always receive news relate to reasons. But most of times reasons are not real ones, just are dilivered to satisfy reason-hunters.

If you look at SEC, it is the same as Covid-19.
But now the pandemic is coming and people have feared of another global crisis.
They forgot the Covid-19 is a kind of flu, which mostly reduces or dissapear in summer.

Indeed, we all knew that corrections  take place after some good runs those investors who already gained decent are liquidating their assets. It will repeat itself as scalpers and day traders are keeps tracking their opportunities. In regards to Corona virus, there's slight effects knowing that investors from China  might need money to finance the situation, not only Italy but there's also affected countries who also known for crypto supports.

Now why would the spread of the COVID-19 virus to Italy, have such a impact on the Bitcoin price? China is currently one of the largest economies in the world and when the Corona virus was first announced, the Bitcoin price went up. 

People are looking for answers for the latest drop in the price, but the price fluctuation cannot be explained with the behavior of the historic events, because it is not reacting in the same way it did, when this announcement was made in China.

Large investors will look for safe havens and I doubt if they are moving funds towards Crypto investments, because the price volatility is scaring them away. 

I am very interested whether this coronavirus outbreak will really cause a bad effect to the crypto market or it is only an imagination to the investors who are worried in every dip of prices. There is a big possibility that it is only a coincidence as if you will closely check the market, in every increase of price there is always a setback of it before it will continue to increase again.

The outbreak has been spreading already in different countries and not in Italy only so let's just remove the this reason why the bitcoin declined it's price.

actually not only in italy that day because even Korea and Germany has been declared as one of the most affected countries now of this Corona Virus.
but Indeed that we are experiencing declined as the Virus continues to be aired as spreading the world now.
though today there is a good movement market shows bringing greens in most top ranked crypto?i think this is enough for now to consider that the Virus is fading effect in our market here.

It definitely could be a possibility but Goldman Sachs also suspects the FED to decrease Federal Funds rate by 100 basis points as of Friday. Their is a lot of noise to tie the current market situations unfolding.

China's economy has declined due to Corona viruses. And with the Corona virus provides a huge impact especially for the American economy. The American economy has increased significantly.

But I do not think if the presence of Corona viruses can affect the movement of crypto prices, especially for Bitcoin. In Italy, cases were infected with the increased Corona virus but did not affect the decline in Bitcoin. And I think the decline of Bitcoin because there is the little correction.

I think this Corona virus has affected bitcoin in some ways, though I can’t really tell what they all are exactly, but I know for sure that it has been affecting the mining of bitcoin in China. Saw a news that the government ordered the police to shut down some mining farms, there was a farm that was shut down recently.

In one way or the other this must have affected bitcoin price since China mines more than 60% of the bitcoin network, so for sure it’s going to affect bitcoin price. There might be other ways that it could be affecting that I don’t know yet. Almost every market was affected by this Corona virus, if not all, though I expected bitcoin to act as a safe haven, but I was disappointed.

I was talking about crypto alone, because it's obvious that this epidemic is affecting economies around the world, especially with China being in the epicenter. And the virus is pretty serious, it's highly contagious and very dangerous to the elderly and people with weak immune system. But Bitcoin doesn't depend on any supply chains that are affect by the virus, it doesn't need the Chinese industry, so there's no good reason to dump Bitcoin because of the coronavirus.


The stocks were/are in a long bull run, it's quite risky to buy them now, the correction/crash will come sooner or later.

This is how greed and panic are artificially fuelled by the news in regards to BTC to make whales job easier. We have seen that the most clearly in pumping seen in December 2020 by mass media including TV as well as regarding "nuclear crypto winter" in 2018. But if you are not caught by these baits and decide to go the opposite way, you can make a nice profit out of it.

they have already done that! just search the keyword (bitcoin price rise + coronavirus) and you will find the articles that were linking the rise right before this drop to the spread of this virus around the world.

Well it does just noticeable that coincides with the corona virus on the scene now coz everything outside the virtual affects it like the said disease. So if there is significant change on the prices it is either there coming or there is happening outside ( like the virus ), inside ( high speculation). Actually the 3% down is not that much as I already expected it when the virus spread out in China which is the highly populated country in the world, on top of that is the major businesses in China that is related to crypto.

Which are causes of the paranoic globally?
Fake news are everywhere, and the lack of transparent communication from governments in many nations (or all?) cause more paranoid. People mostly think of the Covid-19 as a deadly one but in fact it is not. The population from 50 ages and above, especially 60 and above are most vulnerable to the disease. For the rest, most of infected are only mild and fine (recover well later).

They are mostly affected by the disease, to severe, critical conditions or even to death. I don't say the younger population should be careless because they can play as healthy disease cariers and spread the virus to older ones, who will potnetially face serious health issues later. Take care but don't be paranoid.

Another serious thing is the Covid-19's total infected people that certainly result in huge burdens on local health system and health facilities, that negatively affect proportion of fully treated and recovered cases among infected.

I agree we have faced with a serious health problem, but to say it is a dead one I disagree.

Chances for stocks, and crypto. Yes we have it now. Why people waited hopelessly to buy stocks when the stock market rose continuously but now when cheap price is available, they hesitate and feel fera. Crazy.

When hotter season comes in nations which have a winter season now, we will see a turning point for the pandemic, then price will skyrocket. We have not been too far from it, it's already March. Please bring knowledgeable and stay positively, investors.

These types of events in some Jesse Livermore books are called "Fundamentals" and of course they affect every speculative market, in fact gold fell by 7%, this means that people's emotions are already reaching high levels of panic, what It is better to wait. Because it may happen that it creates much more instability in the market, the imminent recovery will come sometime.

It's classic causation vs correlation, some people seem unable to see the difference between them, not sure if innocence or malice. I also don't think china's pull on bitcoin is that strong that coronavirus would mean bitcoin's doom or whatever. It could be that some users are just selling off their savings to be able to afford care / preventive measures.

buy the dip people

Bitcoin drops not because they have people who are positive in Novrl Coronavrirus I do not know why the other people always realted that problems maybe they have connected but only fee effects and not big effects. There is no exact reason why the bitcoin decreasing but don't worry about that because it will pump again but time is needed to recover again.