Topic: Bitcoin during pandemics - page 5. (Read 1018 times)
The bitcoin during the outbreak fall down immediately many people start having panic at the same time and use their cryptocurrency and immediately sell those into the market and convert into the fiat currency. Some of them use that money to buy all the things they need and all the stuff they need to use to survive into the outbreak happens to them right now. To the people does not being aware of the panic selling the instead they pull out their bitcoins still they hold it because they know they lose their money immediately. Also form the previous year of the market price of the bitcoin it falls too for over 3k dollars and it happens again to us and after than market price the bitcoin comes back into the halving and get a hugely profitable market income so they can now make a lot of profit and wait the halving is coming again.
It can be assumed that prices for cryptocurrencies fell due to the large amount of money that was withdrawn from them for various purchases of medicines, medical masks and various antiviral drugs. And the banal amount in cash does not hurt at such times.
The panic selling caused the market to drop and with the other speculations that the miners are dumping as well so that they can pull the prices down because of the upcoming halving.
People are taking cash so that they can buy themselves some goods to survive with the affected areas of lockdown. Even to those who are not affected, they wanted to be safe that just in case, they can pull bucks in their pocket.
For the other viruses that were spread before, bitcoin wasn't totally affected because it wasn't recognized at all during those early years.
People are taking cash so that they can buy themselves some goods to survive with the affected areas of lockdown. Even to those who are not affected, they wanted to be safe that just in case, they can pull bucks in their pocket.
For the other viruses that were spread before, bitcoin wasn't totally affected because it wasn't recognized at all during those early years.
The crash in economy and stock market due to the spread of covid 19 virus doesn't mean it is not related to the crash in the market. What is happening in the worl right now is now affecting the crypto market and that is for sure. People will do everything they can in order to survive, even if it means nothing will be saved for their future. People will convert their assets - gold orbcryptos in order to buy the things they need in order to survive. This will then somehow affect the crypto market.
I think that Pandemic is the first one that Bitcoin has passed, and the behavior it has triggered is normal, panic in all markets causes the price to drop quite a bit, however the price of Bitcoin has remained in a range between $ 5k- $ 6 k, compared to other markets the Fed has made very large injections of money to regain investor confidence, Bitcoin may eventually be seen as a temporary haven of value.
Many say that covid19 has nothing to do with bitcoin, but I think the opposite, unfortunately, the economic situation is not easy for anyone and bitcoin is suffering in part from the current situation of the economy. When the situation in the world improves bitcoin starts running again.
There are many reasons why bitcoin is traded lower and in my opinion the corona virus is also one of several other factors. I dont think the corona virus has paralyzed the bitcoin trade because we can conclude that the decline in the price of bitcoin in large amounts some time ago was a form of panic among traders and investors. I am sure there have been attempts by several popes to reduce the price of bitcoin by taking advantage of this tense situation, panic will soon emerge if negative information spreads among bitcoin traders and investors today.Good decisions are for each of us and we must care about the pandemic and we must not ignore it. Bitcoin will still get a lot of interest in the market and now we are very close to halving of bitcoin.
Many say that covid19 has nothing to do with bitcoin, but I think the opposite, unfortunately, the economic situation is not easy for anyone and bitcoin is suffering in part from the current situation of the economy. When the situation in the world improves bitcoin starts running again.
If the corona virus was able to affect markets that are several times bigger than the market of cryptocurrencies I do not know why anyone is surprised about what we are seeing in bitcoin right now, this market is not isolated from the world and if something as important as the corona virus appears it was obvious this market was going to be affected, what we need to see now is for how long the market will be affected and how long the recovery will take.
Many say that covid19 has nothing to do with bitcoin, but I think the opposite, unfortunately, the economic situation is not easy for anyone and bitcoin is suffering in part from the current situation of the economy. When the situation in the world improves bitcoin starts running again.
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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.
It seems that this is due to the influence of COVID 19 which is greater than the previous virus, WHO also states this as a pandemic, many countries choose to do lockcown to break the spread of the virus. Beginning with the decline in the stock market, this eventually gave effect to the crypto market, some people panicked and chose to prepare their funds in a safe and survive place. And today we are beginning to see good movements in the crypto market, whereas there has been no significant change in the stock market, the crypto market is truly unique. 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.
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Well said! Everything would really be on domino effect when the whole world is on trouble plus the the panic it do cause.As a human being it cant really be a avoided that you would normally act and do appropriate things in means of survival.No matter how die hard hodler you are when you are already in the verge on such situation then cashing or converting your assets this time is on high chances.we know that this unpredictable market can really be affected easily on news or sentiments which you cant totally say that this current dump doesnt have any connection on whats
happening now.
It is anic that mainly drove the prices of everything down. With the way the governments of the world are responding to this pandemic, it's not surprising that people would react frantically to everything as of this moment. Add to the fact that almost every essential supply is being hoarded, so it's possible that investors and traders sold their stocks/coins in the mean time for fast cash to utilize during the outbreak. No one expected such a full-blown pandemic in 2020 and here we are.
Well said! Everything would really be on domino effect when the whole world is on trouble plus the the panic it do cause.As a human being it cant really be a avoided that you would normally act and do appropriate things in means of survival.No matter how die hard hodler you are when you are already in the verge on such situation then cashing or converting your assets this time is on high chances.
we know that this unpredictable market can really be affected easily on news or sentiments which you cant totally say that this current dump doesnt have any connection on whats
happening now.
Bitcoins is not sky rocketing due to the pandemic but instead bitcoins is actually being used by the people a lot .
The people are using bitcoins for the transactions , for buying and selling , for sending the money overseas for their distant relatives , for earning , finally bitcoins is being used as normally as Fiat.
At this time the Fiat is crashing and the banks are selling their stocks to maintain the value for the respective Fiat therefore it is even getting worse for them .
The time is really critical but Bitcoins is supporting people now more than ever.
The people are using bitcoins for the transactions , for buying and selling , for sending the money overseas for their distant relatives , for earning , finally bitcoins is being used as normally as Fiat.
At this time the Fiat is crashing and the banks are selling their stocks to maintain the value for the respective Fiat therefore it is even getting worse for them .
The time is really critical but Bitcoins is supporting people now more than ever.
OP, I think that the comparison with other outbreaks is not particularly accurate because as far as I know the main event that triggered the drop was the WHO announcing the pandemic of COVID-19, and the last time they announced a pandemic was back in 2009. Other outbreaks did not earn this status and coverage.
I do not want to underestimate the degree of danger of any virus or disease, but nevertheless, even in this particular case it seems to me a lot of information is exaggerated. Perhaps on a global scale, the government does not have any ability to cope with problems and therefore escalate the situation. But one way or another, due to the quarantine rules introduced in large cities and practically because of the self-isolation of most countries of the world, large companies and Big Business are failing. Many enterprises and factories do not work, and this already affects the financial condition of people. In general, the situation negatively affects the economy of individual countries. But what is happening today in the cryptocurrency market, It seems to me that this is primarily due to the fault of speculators who want to get some benefit from the current situation. it is not COVID-19 that has affected bitcoin price, it has never been because there simply is no relationship between the two. it is literary every other market that has been dumping and the fear that the weak hands had thinking there should be a dump in bitcoin too so they jumped the ship. with whale manipulation accumulation on top, we've got ourselves a big crash 
I agree that there's no direct link between the two, just like no link between Bitcoin and other diseases that used to be spreading before. However, I do think it's more or less accurate to say that the ultimate reason behind the current price drop is COVID-19 or, rather, the way it's been covered by media. You're saying it's because of other markets dumping, but they wouldn't have been if it weren't for COVID-19.
OP, I think that the comparison with other outbreaks is not particularly accurate because as far as I know the main event that triggered the drop was the WHO announcing the pandemic of COVID-19, and the last time they announced a pandemic was back in 2009. Other outbreaks did not earn this status and coverage.
it is not COVID-19 that has affected bitcoin price, it has never been because there simply is no relationship between the two. it is literary every other market that has been dumping and the fear that the weak hands had thinking there should be a dump in bitcoin too so they jumped the ship. with whale manipulation accumulation on top, we've got ourselves a big crash
I agree that there's no direct link between the two, just like no link between Bitcoin and other diseases that used to be spreading before. However, I do think it's more or less accurate to say that the ultimate reason behind the current price drop is COVID-19 or, rather, the way it's been covered by media. You're saying it's because of other markets dumping, but they wouldn't have been if it weren't for COVID-19.
It is anic that mainly drove the prices of everything down.
So it means it is because of the pandemic right? Cause it is the one who caused the people to panic and sell out everything they have.With the way the governments of the world are responding to this pandemic, it's not surprising that people would react frantically to everything as of this moment. Add to the fact that almost every essential supply is being hoarded, so it's possible that investors and traders sold their stocks/coins in the mean time for fast cash to utilize during the outbreak. No one expected such a full-blown pandemic in 2020 and here we are.
Well aside from we are not prepared with the ongoing situation people are acting like it is the apocalypse when they hoard and it sucks seeing people beg for food and other necessities right now like masks, alcohol, disinfectant and sanitizers. But for the market, I expected it to go down, actually beyond this. As pandemic is getting worse, the recovery we want might be hard for us to do so.
While I appreciate the research of the OP bitcoin did not really became popular until 2017 so I do not see the point of trying to see how bitcoin behaved during the previous pandemic crises when almost no one was using bitcoin at the time, the reaction we are seeing now in bitcoin is natural, almost all the markets have taken a beating since no one wants to speculate with volatile assets when they are concentrated in more important stuff and I do not see why bitcoin should be any different.
I did not take note of the pandemic that occurred in 2009 but I am very much aware of the ebola virus. In fact, it affects also my country but non of the pandemic you have mentioned above seems to spread very fast like this coronavirus. During the time ebola, it only affected much of some of the African countries and most especially Liberia. From what I have read about the virus, It is not new but the recent one is a mutation of already existing one with nobody certain if there will be a cure. This is enough to make people panic and draw the world economy down.
It is anic that mainly drove the prices of everything down. With the way the governments of the world are responding to this pandemic, it's not surprising that people would react frantically to everything as of this moment. Add to the fact that almost every essential supply is being hoarded, so it's possible that investors and traders sold their stocks/coins in the mean time for fast cash to utilize during the outbreak. No one expected such a full-blown pandemic in 2020 and here we are.
it is not COVID-19 that has affected bitcoin price, it has never been because there simply is no relationship between the two. it is literary every other market that has been dumping and the fear that the weak hands had thinking there should be a dump in bitcoin too so they jumped the ship. with whale manipulation accumulation on top, we've got ourselves a big crash
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. 
They could of caused the dump since on Feb 15th was when it started to shift of these miners calling for a combined sell off all at one time.
Is it really connected or is it just that it happens at the same time the virus gets viral.
I understand though that people will need money to spend for their necessities and it will be a lot if it will take a month to stay at home.
But here is the thing. Bitcoin became a store of value. Which means it is just like saving something.
Don't they have an easy way to make money rather than selling their bitcoins?
They could just withdraw their money from their respective banks and it will be easier.
Why such efforts into selling bitcoin in an exchange and then going thru banks to make it cash.
I am still in doubt if people really sold their bitcoins or it just happens to be bitcoin is being dump while the virus came viral.
Some may have sold it but not that much of them.
I understand though that people will need money to spend for their necessities and it will be a lot if it will take a month to stay at home.
But here is the thing. Bitcoin became a store of value. Which means it is just like saving something.
Don't they have an easy way to make money rather than selling their bitcoins?
They could just withdraw their money from their respective banks and it will be easier.
Why such efforts into selling bitcoin in an exchange and then going thru banks to make it cash.
I am still in doubt if people really sold their bitcoins or it just happens to be bitcoin is being dump while the virus came viral.
Some may have sold it but not that much of them.
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