Bitcoin declined 3% as the coronavirus spread in italy - page 5.

Oceat

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Quote from: migws on February 26, 2020, 03:34:31 PM

Quote from: KarlKanKarl on February 25, 2020, 05:38:23 AM

https://cointelegraph.com/news/bitcoin-traditional-markets-drop-3-as-coronavirus-spreads-in-italy

As the coronavirus spread in Italy recently, bitcoin market has dropped 3% and also the traditional market including all the top ranked cryptocurrencies. Can coronavirus spreading be the cause?

It sounds like a rumor. I do not believe that the disease could affect the markets, especially when it happened in Europe (Italy) and not in China

Because it is a rumor since crypto journalist in are fan of doing it to gather more curious readers. The virus itself had nothing to do with the crypto economy and what we have experienced today is just the traders normal movement. I agree that the virus is spreading like a wildfire in some other countries but it wouldn't affect that much to the crypto price.

Zicadis

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Dump it!!!

I highly doubt there's any relationship between the spread of the coronavirus and Bitcoin's decline.

Usually, when something significant happens that threatens to damage the traditional economy, then people often switch to assets that don't rely on the traditional economy to maintain value.

e.g. gold, commodities and other precious metals.

Because of this, cryptocurrencies like bitcoin should be surging if the coronavirus were affecting the economy.

migws

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Quote from: KarlKanKarl on February 25, 2020, 05:38:23 AM

https://cointelegraph.com/news/bitcoin-traditional-markets-drop-3-as-coronavirus-spreads-in-italy

As the coronavirus spread in Italy recently, bitcoin market has dropped 3% and also the traditional market including all the top ranked cryptocurrencies. Can coronavirus spreading be the cause?

It sounds like a rumor. I do not believe that the disease could affect the markets, especially when it happened in Europe (Italy) and not in China

FlamingFingers

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I'm still not understanding why people are relating the corona virus to either the pump or dumping of bitcoin, it has no correlation for goodness sake, I could remember vividly when bitcoin pumped to around $10k+ this month, a lot of people were relating it to the spread of corona virus in China, and now the dump is being related to the spread of the virus in Italy, quite funny if you ask me

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Quote from: KarlKanKarl on February 25, 2020, 05:38:23 AM

https://cointelegraph.com/news/bitcoin-traditional-markets-drop-3-as-coronavirus-spreads-in-italy

As the coronavirus spread in Italy recently, bitcoin market has dropped 3% and also the traditional market including all the top ranked cryptocurrencies. Can coronavirus spreading be the cause?

The writer of the article is a crypto zealot, finance writer, and steady swing trader. The site says that he is passionate about the spread of bitcoin and blockchain's capacity to transform commerce and cities. As seen in the article, I think it was fairly written not to deliver traffic but to educate us. It was clearly said that there was a 3% decline on the market due to COVID-19 because investors and businesses had to mitigate the situation where there is an interruption in the supply of chains and a concomitant business slowdown worldwide.

Actually, if we are to put ourselves in the shoes of Italian investors or even businessmen, if we are to hear about a virus spreading fear and destroying life as well as economy, i think we will first think of a possible solution for the money or the cryptocurrency we have.

isaac_clarke22

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It is a no if it is only for Italy. Some people claimed the same for China, since everyone seems to panic due to the virus spreading. There could be just a whale exiting for the mean time in the market.
If there's gonna be effect from the virus spreading, it should also bring price surge because people could probably have invested their money into crypto so that they'll be able to pass it to someone.

hd49728

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Quote from: Reatim on February 26, 2020, 01:39:22 AM

i don't think it is the corona virus who made the prices fall again because looking at the graph?it is continuously downing even the issue passed over a days.

what i believe is this is the correction we are all waiting ,the last before the halving of bitcoin happen?

It is correction. We all need corrections to see price moving upwards much higher. Covid-19 or anything (potential conflicts between the USA. and North Korea, or USA. and Iran) are only contributors of fall or rises. Sometimes, those things don't have any effect to help price rising (if we are in bearish period) but whenever we see price rising and then the news of conflicts, we instantly jump to conclude that price rises are consequence of conflicts or Covid-19. It is not right.

Halving and bitcoin price. Over bitcoin history, it has never touched its previous all time highs (don't think further of setting up new all time high before or after around the halving days). But who knows this year, this halving, bitcoin will change its boring pattern. I don neither know nor believe it will happen.

Reatim

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Quote from: KarlKanKarl on February 25, 2020, 05:38:23 AM

https://cointelegraph.com/news/bitcoin-traditional-markets-drop-3-as-coronavirus-spreads-in-italy

As the coronavirus spread in Italy recently, bitcoin market has dropped 3% and also the traditional market including all the top ranked cryptocurrencies. Can coronavirus spreading be the cause?

i don't think it is the corona virus who made the prices fall again because looking at the graph?it is continuously downing even the issue passed over a days.

what i believe is this is the correction we are all waiting ,the last before the halving of bitcoin happen?

if not then does anyone here can at least Gives us some good reason for what is happening right now?

Quote from: Artemis3 on February 25, 2020, 10:40:55 PM

Quote from: KarlKanKarl on February 25, 2020, 05:38:23 AM

As the coronavirus spread in Italy recently, bitcoin market has dropped 3% and also the traditional market including all the top ranked cryptocurrencies. Can coronavirus spreading be the cause?

No this is completely unrelated, if anything, coronavirus might slow down the economy which might actually fuel bitcoin purchase (usually its just precious metals, but some traders also buy bitcoin).

Price is acting very nice, its moving slowly, the slower the better, It suddenly bumped into 10k and now its gradually returning, until who knows where. Remember, halving is coming...

i had same thoughts here and yeah bitcoin market cannot be affected by this virus instead we will benefits from this since Online payments is much safer than oldschool fiat paying.

Vishnu.Reang

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The decline had more to do with the theft of $45 million worth of BCH and BTC from wallets controlled by Chinese cryptocurrency whale Zhoujianfu. The thieves are dumping both the coins in exchanges and as a result both Bitcoin and Bitcoin Cash have gone down. The other cryptocurrencies haven't dropped by that much. It will take a few days for the market to recover to the previous levels.

ufaiz50

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Quote from: KarlKanKarl on February 25, 2020, 05:38:23 AM

https://cointelegraph.com/news/bitcoin-traditional-markets-drop-3-as-coronavirus-spreads-in-italy

As the coronavirus spread in Italy recently, bitcoin market has dropped 3% and also the traditional market including all the top ranked cryptocurrencies. Can coronavirus spreading be the cause?

I don't think so, there is a lot of speculation about the impact of the economic market with the Corona Virus and just now I also read about increasing the value of bitcoin when the Corona Virus first became a warning in wu han China. fundamentally this could be the reason for the rise or fall of crypto values because if I see, that corona-v could have been seen from a different perspective in the speculation that is happening.

LUCKMCFLY

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Quote from: KarlKanKarl on February 25, 2020, 05:38:23 AM

~snip~

The coronavirus effect has been affecting the Stock Market a lot, the Bitcoin market has only had a small drop in the price, but it is not so significant, and knowing that the Bitcoin and crypto market is volatile and obeys emotions many times , one could expect a rapid recovery, as Bitcoin and gold are usually seen at this time by many as a refuge from value.

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Quote from: airdnasxela on February 25, 2020, 11:34:26 PM

How could you say that this is really the reason why Bitcoin declined 3%? Yes it's possible but we cannot be so sure about that. Corona virus has been an issue here when this virus start spreading. And I still can't think of it as a major effect of Bitcoin price. It does affect the economy of a country affected but not totally Bitcoin. There's a possibility that it affects Bitcoin but not totally a major cause of Bitcoin decline. For sure there's another reason aside from Corona virus.

I think a lot of people in that country are panicked because the corona virus is spreading quickly and this virus can make people die so it's natural that many people panic and choose to secure their assets by selling their coins and exchanging them for local currencies and making withdrawals.

imagine if this virus spreads in your city I think you will do something similar because if you die and your assets are still in the form of cryptocurrency maybe your family does not understand how to withdraw assets into local currency.

airdnasxela

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How could you say that this is really the reason why Bitcoin declined 3%? Yes it's possible but we cannot be so sure about that. Corona virus has been an issue here when this virus start spreading. And I still can't think of it as a major effect of Bitcoin price. It does affect the economy of a country affected but not totally Bitcoin. There's a possibility that it affects Bitcoin but not totally a major cause of Bitcoin decline. For sure there's another reason aside from Corona virus.

YOSHIE

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Quote from: KarlKanKarl on February 25, 2020, 05:38:23 AM

https://cointelegraph.com/news/bitcoin-traditional-markets-drop-3-as-coronavirus-spreads-in-italy

By chance, this is the factor that is affecting the current price of Bitcoin. The reason why the Corona virus is spreading to Italy, I don't think it's open, don't believe the news in the media, it's not all right and wrong.

Corona attacks China first, but the price of Bitcoin is still stable, which I know is the biggest Bitcoin user in the world, not Italy, I don't think it's true that bitcoin is currently down because Corona is attacking Italy.

If you look at March 2019, the price of bitcoin has touched at the level of $ 6000, at that time there was no corona and landed up to the current price level, At least people think that the price of Bitcoin is down, not affected by a virus or something, tends to be more influential than buying and selling.

Artemis3

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Quote from: KarlKanKarl on February 25, 2020, 05:38:23 AM

As the coronavirus spread in Italy recently, bitcoin market has dropped 3% and also the traditional market including all the top ranked cryptocurrencies. Can coronavirus spreading be the cause?

No this is completely unrelated, if anything, coronavirus might slow down the economy which might actually fuel bitcoin purchase (usually its just precious metals, but some traders also buy bitcoin).

Price is acting very nice, its moving slowly, the slower the better, It suddenly bumped into 10k and now its gradually returning, until who knows where. Remember, halving is coming...

Taskford

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Quote from: btc_angela on February 25, 2020, 05:10:23 PM

Quote from: KarlKanKarl on February 25, 2020, 05:38:23 AM

https://cointelegraph.com/news/bitcoin-traditional-markets-drop-3-as-coronavirus-spreads-in-italy

As the coronavirus spread in Italy recently, bitcoin market has dropped 3% and also the traditional market including all the top ranked cryptocurrencies. Can coronavirus spreading be the cause?

Really hard to say if indeed this is the cause, but all markets are down as well. Nasdaq, S&P, Dow Jones by an average of -3%.

Maybe investors are affected by the negative news, specially that it was reported in Yahoo finance that US might be hit by the corona virus.

https://finance.yahoo.com/m/ca8e2a8c-f10e-3983-aec6-656a2f4e536e/the-dow-is-down-900-points.html?.tsrc=rss

But on the bright side, this could be a buying opportunity!.

There are certain particulars that they are upset since imagine how big the market brought by Chinese it could flip up the positive vibes for certain person who thinks about good futur and with this news coming that virus are knocking not only in Italy but aswell globally investors must be worried on what we are heading in future.

But hopefully not all people thinks negative unto this and believe the same as your though that this is a buying opportunity.

Docnaster

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Even so I do not think that the coronavirus might have been a direct causation of the BTC. Fair enough people are worried for their lives but there's still haven't been that many reports and no evidence of the trend falling for other reasons such as normal fluctuations.

Pls stop spreading on this forum these mindless opinions based on someone else's vague opinions, and discouraging new people on here that every little thing affects BTC. I'm not saying the market isn't volatile, in fact its very much so but these can't solely be driven by news such as this.

btc_angela

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Quote from: KarlKanKarl on February 25, 2020, 05:38:23 AM

https://cointelegraph.com/news/bitcoin-traditional-markets-drop-3-as-coronavirus-spreads-in-italy

As the coronavirus spread in Italy recently, bitcoin market has dropped 3% and also the traditional market including all the top ranked cryptocurrencies. Can coronavirus spreading be the cause?

Really hard to say if indeed this is the cause, but all markets are down as well. Nasdaq, S&P, Dow Jones by an average of -3%.

Maybe investors are affected by the negative news, specially that it was reported in Yahoo finance that US might be hit by the corona virus.

https://finance.yahoo.com/m/ca8e2a8c-f10e-3983-aec6-656a2f4e536e/the-dow-is-down-900-points.html?.tsrc=rss

But on the bright side, this could be a buying opportunity!.

Distinctin

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Quote from: KarlKanKarl on February 25, 2020, 05:38:23 AM

https://cointelegraph.com/news/bitcoin-traditional-markets-drop-3-as-coronavirus-spreads-in-italy

As the coronavirus spread in Italy recently, bitcoin market has dropped 3% and also the traditional market including all the top ranked cryptocurrencies. Can coronavirus spreading be the cause?

it could possible that the local market is affected by this COVID-19 issue but not be the reason for Bitcoin's fall. And even in our country, we also suffer such a declining market growth knowing that the community is now acquiring their safety assurance from being infected and so they don't go to the crowded place. And I think that Bitcoin is out from that because we can make use of this even we are in our home and do purchases online.
The declining that you've said, I believe it wasn't because of this but it matter only on the market demand.

buwaytress

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Quote from: stompix on February 25, 2020, 12:46:41 PM

What pisses me off in these situations which have started to become more and more frequent on this forum is that if you try to be reasonable in the discussions when everyone is hyped by some random event and you are trying to bring them down to earth you start to look like a bear or a bitcoin negativist.
I'm trying to be objective but with so much unreasonable hype I end up criticizing 90% of the news which is damn frustrating....

And even more frustrating is that I want to avoid those topics, knowing that 99% of the guys that I reply to will not bother to read it but I simply can't stop myself when I see discussions in which something that wrong is being paraded as true. Cry

Yeah, I get you. I'm trying to take it easy myself. Used to actually be a lot easier before, and while it's more successful here on this forum, I find myself drawn deeper more frequently elsewhere in some other damned chat. I'm not even sure why, but maybe I got more and more skin in Bitcoin as they say...

But yeah, leaving the news alone is one way. Objectively, a lot of the news is just reporting what they see and hear, and we can't help if they see and hear what's louder!

Also might help to understand that many of these guys are sock puppets. As in, literally, they're not even real people!

Topic: Bitcoin declined 3% as the coronavirus spread in italy - page 5. (Read 873 times)