Bitcoin during pandemics | Bitcointalksearch.org

TrevorS

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Quote from: thundercrystal on April 21, 2020, 11:44:05 AM

I mean there is no really direct relationship between the pandemic, which is COVID 19,to what's happening in the market. It is really on the hands of the people, where we can see that many are panicking that's why they are selling and such. Just my two cents though.

Bitcoin to one degree or another is associated with the entire economic and political system. If these connections are not obvious, this does not mean that they are not.
In any case, the deterioration in purchasing power among the population will to some extent affect both the entire economy and the crypto market.

Minerall

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Bitcoin fell before the pandemic. If you look at the price dynamics, then nothing has changed much during the pandemic, it either falls or rises.

Debonaire217

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Quote from: nomenclatur on April 21, 2020, 10:01:17 PM

bitcoin down due to the effects of coronavirus cause the majority holder of bitcoin will sell when they entail costs for their needs at the time of virus outbreaks corona attack, everyone, of course, a lot of workers off due to virus corona they need the money for the life ahead they sell some of our valuable assets like bitcoin to meet needs in the future, not a few people who panic and sell all bitcoin they have.

This might be the cause, despite of thinking about the possible situation to happen such as expecting that more people will use bitcoin and its market price will increase, the opposite happened and that is people who have bitcoin started to sell. Well, we cannot blame them for their action as what is more important is to keep the family alive, and if bitcoin is the only way or asset they have to sell, it is a reasonable action to do so.

I have sold some bitcoins as well, but I still believe the its market price will be higher as soon as this pandemic starts to flatten its curve.

Eternad

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Quote from: nomenclatur on April 21, 2020, 10:01:17 PM

bitcoin down due to the effects of coronavirus cause the majority holder of bitcoin will sell when they entail costs for their needs at the time of virus outbreaks corona attack, everyone, of course, a lot of workers off due to virus corona they need the money for the life ahead they sell some of our valuable assets like bitcoin to meet needs in the future, not a few people who panic and sell all bitcoin they have.

This days what we really need now is to have cash to buy the essentils that we will need to live, this pandemic affects every economic life of different countries same with bitcoin as we will be needing a job to have living but if it also stops then many will be tempted to cashout some of their investment maybe in stocks,crypto or others.

Republikcoin.com

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Quote from: TrevorS on April 22, 2020, 05:41:08 PM

Quote from: thundercrystal on April 21, 2020, 11:44:05 AM

I mean there is no really direct relationship between the pandemic, which is COVID 19,to what's happening in the market. It is really on the hands of the people, where we can see that many are panicking that's why they are selling and such. Just my two cents though.

Bitcoin to one degree or another is associated with the entire economic and political system. If these connections are not obvious, this does not mean that they are not.
In any case, the deterioration in purchasing power among the population will to some extent affect both the entire economy and the crypto market.

I think the relationship is only in finance and business. although there is no clear connection between COVID-19 and bitcoin, we hope that it will influence it. however, people will search for businesses on the internet and will find bitcoin. it is expected to increase the adoption of bitcoin en masse.

drlukacs

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Quote from: Twentyonepaylots on March 18, 2020, 01:01:57 PM

Been seeing a lot of post about the COVID-19 and how it affects different markets like stock, oil and cryptocurrency
but I wonder if these things are just now or it happens every time there is a pandemic disease like this.

I tried to search for some charts that might help to analyze if there are really a direct effect on the bitcoin with https://cointelegraph.com/bitcoin-price-index

The bitcoin seems unaffected by the first two pandemic at those time, while now the COVID-19 looks so impactful but why?
The relative increasing of price might be the root why such pandemic disease happen so rattling the crypto space.But then again we cannot assure these things.

This is because the financial ratios of the countries are really unstable and when the epidemic comes, big investors will be the first sell-offs. We all know that the debt levels of major countries are very large. Such as America, Japan, China. The Dow has been growing very fast and there has been no recovery in recent years, which has caused huge debt to the United States. This is also the time for the market to adjust, I think it is reasonable. And we also know that Corona virus is the "economic virus". That's why the economy is so affected, bitcoin is just following that influence.

nomenclatur

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bitcoin down due to the effects of coronavirus cause the majority holder of bitcoin will sell when they entail costs for their needs at the time of virus outbreaks corona attack, everyone, of course, a lot of workers off due to virus corona they need the money for the life ahead they sell some of our valuable assets like bitcoin to meet needs in the future, not a few people who panic and sell all bitcoin they have.

FanatMonet

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The pandemic that has developed worldwide is panic, it is a sentiment that does not stop affecting the market worldwide, both in Bitcoin and in other speculatives, despite this, BItcoin has not fallen as in the case of oil, and as the market is moved by emotions it has a great impact on it.

Oil has fallen dramatically, because a huge part of it was used by ordinary people as fuel for their cars, it is clear that when everyone is sitting at home, gasoline consumption is very much reduced. The same can be said about airlines, again because people are sitting at home. Cryptocurrencies do not depend so directly on people as petroleum products.

thundercrystal

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I mean there is no really direct relationship between the pandemic, which is COVID 19,to what's happening in the market. It is really on the hands of the people, where we can see that many are panicking that's why they are selling and such. Just my two cents though.

whyrqa

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I believe that in the conditions of the economic crisis and global isolation, cryptocurrency can become a very profitable asset for investment, besides attracting as many interested people as possible to trade on the cryptocurrency market. After all, remote work on the Internet is very relevant today. in this situation, it’s still too early to talk about the massive use of cryptocurrency as a means of payment, because for this it is necessary to disseminate information about the cryptocurrency in order to attract as many users as possible.

wew219

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It's so sad that the economy followed by some cryptocurrencies are dropping. The pandemic really has a huge impact in today's economy.

AniviaBtc

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Quote from: Twinkledoe on March 18, 2020, 05:46:49 PM

Quote from: minersday on March 18, 2020, 05:37:18 PM

Quote from: Twentyonepaylots on March 18, 2020, 01:17:01 PM

There is no relationship between these two but thing is people behave based on what the situation outside. As what you have said people are simply panicking, fearing and having a weak hands so basically this is because of the pandemic. This isn't just a coincidence that's for sure.

The pandemic nature of COVID-19 makes it the reason behind the crashes seen in the financial ecosystem. The pandemic nature of COVID-19 is what's causing fear and panic in people. This fear and panic is the basic cause in the crash of the market value of Bitcoin and other cryptocurrencies. In my basic understanding, COVID-19 is actually the cause of this crash of the Bitcoin market..

Because unlike previous cases like MERS or SARS, COVID is making a lot of countries closed their borders from everyone. Manufacturing companies shutting down and a lot of business are closed. This is my first time in my lifetime to experience this kind of impact from a virus. Have you seen countries or areas that are totally lockdown because of MERS or SARS? From what I remember only few areas are in lockdown. But with COVID, it is around the globe, flights are being cancelled in and out of countries. That's why even bitcoin is affected because most crypto users even if it is scattered around the globe, they are almost all affected by this pandemic.

If a government knew that there is a pandemic that is spreading rapidly, they will closed their borders or transportation from other countries to lessen or minimize the transmission of it. Unfortunately, in the Covid-19 pandemic, the virus already traveled and spread before the government took some actions that's why the virus today is uncontrollable compared to the possibility if they stopped the transportation earlier. Look at US, they ignored how lethal the virus is into its people that's why the number of cases there is spreading really fast. The government of US is really useless and irresponsible as the president is racist, they underestimate the power of the virus. Look at them now, their economy and stock market is really down and they're doing their best to recover.

elenag1442

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Perhaps the reason that there's an impact felt within the digital money advertise is that within the event that you simply take a gander at the spread of illnesses. Ebola and Mers wasn't pronounced pandemic yet it's diverse for COVID-19 since it had been proclaimed WHO as an epidemic along these lines making a gradually expanding influence within the market.

Asuspawer09

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Quote from: Twentyonepaylots on March 18, 2020, 01:01:57 PM

Middle East Respiratory Syndrome Coronavirus (MERS-COV)

DATED from Jan1 to June31 2012 (6months)
Discovery of MERS-COV was in April, Seems like there isn't much effect on the price not until in June when it starts to increase ( about 20%)

Ebola Virus
Although it was first discovered in 1976, there is an outbreak happened last 2014.

DATED FROM Jan1 to June31 2014 (6months)
The price increased relatively.
Price dump in Feb but recovers in March where the first case of Ebola was recorded.

COVID-19
Discovered in late 2019 (Pandemic outbreak; Recent)

I guess it not just the virus itself is affecting the market price of bitcoin at this moment we could see the movement of bitcoin price in the past pandemics I guess it was just normal, Just like what the bitcoin price nature is still we cannot know what is going to happened to the market price of bitcoin but either way pump or dump in the market is not a bad thing that could happen to bitcoin. We know that still bitcoin is not going to reach zero or just disappear at the moment of these pandemics.

Probably what is affected most is the lifestyle of everyone since we need to make a lot of adjustment just to fight the virus, it surely is affecting bitcoin but it would not be effect to stop bitcoin only if the virus kill us all.

Juggy777

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Quote from: South Park on April 11, 2020, 11:43:47 AM

Quote from: carlisle1 on April 07, 2020, 02:18:02 AM

There is no direct Impact in Crypto market but since the economy of the world is affected and having the lockdown happening in every part of the world.

this has an effect for users because people here now are trading their Crypto to Fiat as survival is much needed now than Investing.

how can people enjoy the when there are limited use of everything now.so in All we are affected of this infection and might stay a little bit in this lowering market until everything get settled.

I think there was an impact but part of the problem was that bitcoin was overvalued, at the beginning of this year we saw the price of bitcoin climbing up and it did not gave a single signal that it will go down, this created extreme confidence in investors and they began to use as much leverage as they could to increase their profits, but then when this crisis happened and the price began to go down many were surprised by the event and were forced to close their positions making the price to go down at an exponential speed.

I’m not sure who are those people who felt that Bitcoin wasn’t effected by Corona, because Bitcoin was definitely effected by Corona and that’s why it’s prices started to tank down. It’s also pertinent to note that despite Bitcoin not being a safe haven people consider it to be, I yet believe in it’s technology and I’m yet holding my coins for the long term.

Source:

https://www.technologyreview.com/2020/03/19/905207/coronavirus-is-forcing-fans-of-bitcoin-to-realize-its-not-a-safe-haven-after-all/

South Park

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Quote from: carlisle1 on April 07, 2020, 02:18:02 AM

There is no direct Impact in Crypto market but since the economy of the world is affected and having the lockdown happening in every part of the world.

this has an effect for users because people here now are trading their Crypto to Fiat as survival is much needed now than Investing.

how can people enjoy the when there are limited use of everything now.so in All we are affected of this infection and might stay a little bit in this lowering market until everything get settled.

I think there was an impact but part of the problem was that bitcoin was overvalued, at the beginning of this year we saw the price of bitcoin climbing up and it did not gave a single signal that it will go down, this created extreme confidence in investors and they began to use as much leverage as they could to increase their profits, but then when this crisis happened and the price began to go down many were surprised by the event and were forced to close their positions making the price to go down at an exponential speed.

Danydee

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Quote from: Twentyonepaylots on March 18, 2020, 01:01:57 PM

The bitcoin seems unaffected by the first two pandemic at those time, while now the COVID-19 looks so impactful but why?

The other two epidemics have not leaden to generalised lock downs, and also was not generalised (world wide) like the covid19

The increase in the price in February may refer to when the pandemic was not affecting yet the biggest part if the world, and maybe due to activities operated from peoples preparing to face the pandemic

wozzek23

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There is no doubt that the current pandemic was among the things that led to the fall of Bitcoin.
There are also other things that happened this year and they are why the price has a heavy fall. I never need anyone to post this before I will be able to know that the main reason behind the fall is the Covid-19 pandemic.

But it’s okay, the price is already recovering and just like one editor said – this might have saved us from a post-halving dump. Let all just have patience and see the direction that everything will be heading to, though I’m positive that things will turn out for good from now on.

jhonjhon

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The dumps that the crypto market had experienced during the pandemic seems to be normal. Of course, many people will get into the look that they need to secure their funds and (panic) sell their Bitcoin. It really affects the minds of individuals but one thing to see that crypto recovers fast as compared to the global market. We are moving back again and glad to see that we surpass $7k and possibly a much higher price to see as we go closer to halving.

FlightyPouch

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Quote from: gabbie2010 on April 08, 2020, 11:02:32 AM

Quote from: palle11 on March 18, 2020, 06:12:57 PM

I want to really commend Op for the thread. It reminds me of Ebola too in 2014, it was a battle too and I believe the way it was fought to standstill, corona virus too will go down

Ebola in 2014 was limited to some countries in Africa eg Congo, Tanzania, Sierra Leone and few cases in Nigeria of course I don't agree that the pandemic has any correlation with the price of Bitcoin then, however the present covid-19 pandemic is a global issue now definitely it will influence the price of Bitcoin due to lockdowns imposed on the populace in many countries.

Why will those lockdowns affect the price of bitcoin? It is not that it is connected to how the people are selling their btcs. It will not directly affect the price since, despite the lockdown, the price is increasing. The price right now is at $7.3K, if these lockdowns are really affecting the price of bitcoin, it should be going lower than that.

Topic: Bitcoin during pandemics (Read 1065 times)