Corona virus and stock market have NOTHING to do with bitcoin and its price

Wilhelm

legendary

Activity: 1652

Merit: 1265

Quote from: BrewMaster on March 12, 2020, 09:34:21 AM

lack of confidence in the markets in general could explain a 20% to 30% drop not a freakish 50% drop that is not slowing down either!

Anyone in crypto knows that the cryptomarket is more volatile than any other market...

50% drop is nothing for bitcoin
A climb $1000 an day climb neither

gentlemand

legendary

Activity: 2604

Merit: 3056

Welt Am Draht

Quote from: BrewMaster on March 12, 2020, 09:34:21 AM

lack of confidence in the markets in general could explain a 20% to 30% drop not a freakish 50% drop that is not slowing down either!

Why not? We all know how painfully thin the crypto markets are despite the bubbly figures faked by many an exchange. A stock market can absorb vastly more conclusive exits. And we also know how skittish and emotional crypto owners can be.

BrewMaster

legendary

Activity: 2128

Merit: 1293

There is trouble abrewing

lack of confidence in the markets in general could explain a 20% to 30% drop not a freakish 50% drop that is not slowing down either!

gentlemand

legendary

Activity: 2604

Merit: 3056

Welt Am Draht

Coolio.

Erm why's it pooing its panties then?

If there's no confidence anywhere at the moment it stands to reason that the same lack of confidence will affect all markets.

Wilhelm

legendary

Activity: 1652

Merit: 1265

Bitcoin is influenced by the economy
Economy is influenced by corona

jackg

copper member

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https://bit.ly/387FXHi lightning theory

I would normally agree however maybe some people were after making a quick $ rather than adopting the coin as something they'd want to use, investing previous interest. And now the price has fallen, they're going to pull out of bitcoin and a lot of other investments...

It did look like there were 2 or 3 spikes down and I would disagree crypto markets are correlated to the coronavirus and stock markets but its strange the price has fallen fairly dramatically still imo...

BrewMaster

legendary

Activity: 2128

Merit: 1293

There is trouble abrewing

unlike companies with their stocks in stock market bitcoin
doesn't rely on human contact to work,
it doesn't rely on import/export from other countries such as China to function
it doesn't need employees to come to work or not
....
when stock market crashes it is because the companies are having a terrible time making ends meet and are currently losing millions of dollars.
meanwhile bitcoin is working better than ever and it has been accepted as a legal currency in multiple countries over the past 2 weeks.

the only conclusion remaining here is that manipulation is decreasing the price and the media is blaming Coronavirus, stock market crash, .... for it while none of them are the real reason.

Topic: Corona virus and stock market have NOTHING to do with bitcoin and its price (Read 179 times)