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Topic: corona Vírus doesn't affect bitcoin price - page 2. (Read 509 times)

onrise

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Quote from: verita1 on March 10, 2020, 02:46:30 AM

I have had fears that the coronavirus could affect the price of Bitcoin but as time goes by I have realized that it has no connection. Bitcoin continues to have the same behavior with its natural volatility. I have seen some optimistic comments that we may see a big surprise, a supposed increase in its price.

I am doubtful that the current market price drop is happening due to its volatility only. i see that it could be due to corona virus scare that is existing across the globe currently. Due to which quite a few investors or big players might have sold their positions and thinking that they would have a chance to buy back later once the price drops more and can help them to buy at cheap price. Hopefully things starts to get stabilize and we see the btc prices to rise back again and cross its levels of 10k in coming month.

Little Mouse

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I do not agree that corona virus have no connection with bitcoin price. Corona virus has started to affect all over the the economy of most of the countries. If it continues, situation will be worst and it will also have an impact on bitcoin price. People looking for storing value may look into investing in BTC which will pupm the price. Or even if economy face more inflation, people will be looking for more cash to spend which also can affect the bitcoin price.

verita1

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Aletheaminlin

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Quote from: Btc_1856 on March 10, 2020, 01:26:00 AM

Quote from: ?? on ??

Quote from: avikz on March 08, 2020, 12:40:12 PM

Quote from: bitmover on March 07, 2020, 12:09:33 PM

All over the world we can stocks near 12% down since the end of January, when Corona virus showed up.

Bitcoin was neat 10k, and we still didnt lose 9k.

Btc is doing extremely well. it is not skyrocketing like gold but we are holding strong.

Corona Virus actually affected local industries. A large number of factories have been closed down due to this new epidemic which directly affected the stock markets, especially in China! But bitcoin is not dependent on a single country or a region, It is truly global in all literal sense. So bitcoin was not affected by it. But I am still finding a way to explain today's price crash!

Quote

I am impressed and we can see that bitcoin price is not correlated with stock market.

Is it something that you realized now?

People started to find a reason for all the price movements why it can't be normal price movements? and yes coronavirus will not have any impact to the bitcoin price in a negative manner but there can be a positive effect as the money moves out of stocks might prefer cryptos as one of the investment asset class for some

I do agree with you, but there are some factors which make the market has crashed hugely, Like Corona Virus, Crude Oil, worldwide is effected with the crude oil and even stock market also lose their huge amount of money.

I have read through your discussion. And I think like this. Is Bitcoin affected by corona virus? I think it is affected, but it is only to a small extent. The problem that I am thinking about is that the corona virus is a factor that causes people to become more out of control in developing the local or national economy of the virus itself. The news I read in the newspaper made me think that it was just an excuse to start a recession of the world economy, because the global economy actually had many problems beforehand. corona appears. And so is everyone's psychological problem, almost no one cares about it until someone near them is suspected of having a virus, with the current situation, we will still see the economy go down. clearer.

Btc_1856

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Quote from: ?? on ??

Quote from: avikz on March 08, 2020, 12:40:12 PM

Quote from: bitmover on March 07, 2020, 12:09:33 PM

Quote

I am impressed and we can see that bitcoin price is not correlated with stock market.

Is it something that you realized now?

slashz9

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Quote from: bitmover on March 07, 2020, 12:09:33 PM

yes I also think the corona virus has no effect or impact on the crypto market, because I don't see any drastic increase or decrease at the time the virus starts to become viral all over the world.

Quote from: hugeblack on March 07, 2020, 09:08:31 PM

I still believe that the purpose of this virus is to weaken the economy of some countries more than it is a deadly epidemic.

So you conclude this is an attempt to bring down a country or make some countries' finances go down, if the assumptions you say are true, isn't this too much to be a little harsh at the expense of human lives for certain interests Cry

bitmover

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Quote from: stompix on March 09, 2020, 11:06:08 AM

Quote from: bitmover on March 09, 2020, 10:37:27 AM

Man. I don't understand where you want to go... almost everything you said is wrong.

Name one thing!

Lol ok, let's go.

Quote from: stompix on March 09, 2020, 11:06:08 AM

Exactly my point! You created your topic when everything was fine and you said that bitcoin doesn't care.
Which now, when everything is not fine at all has been proved to be a wrong assumption!

Exactly my point! So your quote below two days ago is WRONG!

4 - wrong again.
it doesn't matter if only two days passed. I clearly can see you don't read the news and don't care much about traditional markets.

The situation changed entirely in 2 days.

There was a circuit breaker in NY, Brazil, and almost everywhere else. Do you know what this is?

I will explain to you, copy paste from wikipedia:

Quote from: bitmover on March 07, 2020, 12:09:33 PM

I am impressed and we can see that bitcoin price is not correlated with stock market.

Quote from: bitmover on March 09, 2020, 10:37:27 AM

Bitcoin price is falling for other reasons.

Name one and show proof of why.

lol. Name one reason??? Go read the news man.

Quote from: bitmover on March 07, 2020, 12:09:33 PM

I am impressed and we can see that bitcoin price is not correlated with stock market.

Quote from: bitmover on March 09, 2020, 10:37:27 AM

Not only the stock market is falling, everything is and bitcoin is no different this time.

So, which one is it, is it correlated or it is not correlated?

Bitcoin price is not enterily correlated. There were 2 crashed in the stock market. One smaller (corona) which didn't affect bitcoin, and one much bigger that you ignored , which affected the whole world economy. This situation may take years to solve and may lead even to war. This will ofc affect bitcoin and the stock market, among many other things.

Keep your" slow reaction Bitcoin Corona crisis" opinion and ignore Saudi Arabia x Russia drama (which is making the whole world crazy now, much more worried than the corona virus) and I will keep my idea that Bitcoin hold strong against corona virus.

Btw, I think bitcoin is perfoming extremely well in this world crisis. I don't agree that bears are on rampage. Bears are very shy now. Let's see how it goes... I expected a much worse bloodbath (Brazil Stock market is suffering much more than bitcoin)

awik p

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Quote from: alexsandria on March 09, 2020, 01:47:47 PM

Actually there are some crypto enthusiastic saying that the coronavirus or that covid19 is currently affecting the market specially the bitcoin price but what i am trying to say is this is some incidents that d virus come from us and it is just the bitcoin dumping on the price is happening. I am not believing that the coronavirus or the covid19 is somehow affect the bitcoin price right now I am just seeing it as an coincidence which happen when the market is in a bad condition.

like there is no real effect between corona and bitcoin. when China was paralyzed, bitcoin increased its price, and now when China began to improve, bitcoin threw away its price. indeed when viewed in terms of the global economy the corona case affects the economy of the entire world, because china is a world economic giant

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Quote from: Twentyonepaylots on March 08, 2020, 06:54:20 PM

Quote from: hatshepsut93 on March 08, 2020, 05:43:11 PM

Quote from: sujon5 on March 08, 2020, 03:51:12 PM

Bitcoin price is depend on so many different factors. That's why it's hard to find a correlation between it and events in the world. So we see that COVID-19 outbreak didn't affect the price. It seems to me that stock market is more limpid for analysis.

There's actually not that much factors that affect Bitcoin, it's mostly just pure speculation, which is just unpredictable, and occasionally it does react to news, but only when they concern Bitcoin directly, like when some important country bans it or legalizes it. Yesterday the price was $9,000 and today it dipped all the way to $8,200 without any big news or reason - that's just how it is, Bitcoin was always volatile, and it's important to realize it and stop looking for sophisticated explanations.

There isn't much proof that external factors such as diseases like this could destroy nor build the bitcoin or crypto space but in simpler things like people trying to buy bitcoin in frighten to lose their paper value due to this might actually help. The core of cryptocurrency is a pure speculation so this already mean that there is no direct relation of anything outside the crypto space to it. It is quite interesting how the market is moving far from most of our expectation especially now that the most anticipated event on bitcoin is coming. Guess we should look more after with what is happening in the real world.

Indeed, there has no effects or changed in the value because of the virus at all, cryptocurrency's nature is its volatility, so whatever happens to the price of bitcoin it is not because of the virus, but it is because of the transaction happening all around the world. That is just a speculation because there is no proof that shows coronavirus has really had an impact on the price of any cryptocurrency. But there is maybe a good way to change the perspective, we can say that using crypto at a time like this when you are making any transaction is better because you are safe from the virus since you do not need any physical contact to the one who you transact with. The virus does not affect the price of any cryptocurrency but the fiat and economy have.

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jackg

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Quote from: Latviand on March 07, 2020, 11:59:00 PM

The main reason I think why some people are correlating the market price of Bitcoin to corona virus is that, majority of the miners are residing in china. But little do they know that those miners could be on a less harmful area given that not all provinces in china are highly affected, which might avoid the negative influence of such virus to the cryptoindustry.

I think bitmain put a lot of miners in western Europe a while ago with bitdeer. Not sure if they're still there or how that's going but I imagine they are...

They won't face too much of an issue if China faces a large problem and a lot of miners are probably pretty young so simple maintenance and updates can still be carried out if you're ill with the virus.

arrmia11

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Quote from: bitmover on March 07, 2020, 12:09:33 PM

I think so that it's really affect the price of bitcoin and even in the stock market because the investors in the country of the affected by the corona virus are lost because they can't invest yet until their country or their families are already safe.

It's only my opinion.

stompix

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Quote from: bitmover on March 09, 2020, 10:37:27 AM

Man. I don't understand where you want to go... almost everything you said is wrong.

Name one thing!

Quote from: bitmover on March 09, 2020, 10:37:27 AM

Don't you read the news? There is a world crisis going on, which was not happening when I created the topic.

Exactly my point! You created your topic when everything was fine and you said that bitcoin doesn't care.
Which now, when everything is not fine at all has been proved to be a wrong assumption!

Quote from: bitmover on March 09, 2020, 10:37:27 AM

Not only the stock market is falling, everything is and bitcoin is no different this time.

Exactly my point! So your quote below two days ago is WRONG!

Quote from: bitmover on March 07, 2020, 12:09:33 PM

I am impressed and we can see that bitcoin price is not correlated with stock market.

Quote from: bitmover on March 09, 2020, 10:37:27 AM

Bitcoin price is falling for other reasons.

Name one and show proof of why.
And why should be a decline in oil also a decline in BTC?
Oil crashed 30$ in January 2016, Bitcoin went up by 100$ which is 25%.

And I'm asking you again, can you please make up your mind?

Quote from: bitmover on March 07, 2020, 12:09:33 PM

I am impressed and we can see that bitcoin price is not correlated with stock market.

Quote from: bitmover on March 09, 2020, 10:37:27 AM

Not only the stock market is falling, everything is and bitcoin is no different this time.

So, which one is it, is it correlated or it is not correlated?

bitmover

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Quote from: stompix on March 09, 2020, 09:48:18 AM

So, what is it in the end?
It is correlated with the stock market or not? It's correlated to oil? How and why is bitcoin dropping because of oil?

Just because the market was slow to react (don't forget it was a weekend) you thought, hey, this is good for bitcoin, let's make a bullish topic!
Well, it wasn't, the bears are on a rampage!

Man. I don't understand where you want to go... almost everything you said is wrong.

Don't you read the news? There is a world crisis going on, which was not happening when I created the topic.

Not only the stock market is falling, everything is and bitcoin is no different this time.

What I said earlier is still correct.

And you are wrong. Bitcoin didnt react slowly to corona virus (as you said). It basically didn't have any reaction to corona virus.

And no, I didn't make a bullish topic. I said bitcoin was resilient to Corona it didnt fall. It still is.

Bitcoin price is falling for other reasons.

Take a look at the news about Russia, Saudi Arabia and oil prices then you come back here. Wink

stompix

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Blackjack.fun

Quote from: bitmover on March 09, 2020, 09:40:49 AM

Quote from: stompix on March 09, 2020, 08:59:55 AM

what happened today proves my theory.
Do you read news right,? You know that there is a price war happening in the oil industry, and this affecting the prices all over the globe.

You said in your second line:

Quote from: bitmover on March 07, 2020, 12:09:33 PM

I am impressed and we can see that bitcoin price is not correlated with stock market.

criza

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I could say that it could be the case but, as we could observe the price of Bitcoin continues to fall deep below the $8,000 value, I think it could be a danger especially when it continues to fall. But, we should not lose hope about the price of Bitcoin because, it is sure that as the price of Bitcoin falls, the chance for investors to buy and store it is high, that might be the reason for a bullish increase in price of Bitcoin. As the halving event comes close we should expect a change in the standing of Bitcoin mostly in a greater situation and become a high value asset as its price gradually decreases because of it.

bitmover

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Quote from: stompix on March 09, 2020, 08:59:55 AM

And then, there was morning...

Seems like you need to tune up the theory a bit! Grin

what happened today proves my theory.
Do you read news right,? You know that there is a price war happening in the oil industry, and this affecting the prices all over the globe.

This has nothing to do with corona virus.

I said corona didnt affect btc price (and it didnt). Few days later there is an oil crisis and btc falls. You cant blame corona for that

sheenshane

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Corona Virus doesn't affect the Bitcoin's price. But the health of the people is. Maybe this time, we should focus on securing ourselves and our loved ones that know if it would affect the market or not.

I heard that people were saying that the Novel Corona Virus was intentionally released to hard cryptocurrencies but that really is a big no. Just because the price of the Bitcoin was not affected by the Corona Virus doesn't mean it is the interest of the cryptocurrency whales to harm the Bitcoin and release the virus. Coincidence happens daily. This one is a very simple coincidence. The Bitcoin's price went up because of the halving and not because of the NCOV. IMO

stompix

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Quote from: bitmover on March 07, 2020, 12:09:33 PM

Btc is doing extremely well. it is not skyrocketing like gold but we are holding strong.
I am impressed and we can see that bitcoin price is not correlated with stock market.

And then, there was morning...

Seems like you need to tune up the theory a bit! Grin

Business losing money means people are losing money means less money to invest, less money to go to bitcoin and there we have it!
When we were at 100-300$ we needed a million to prop up the price, when you're at 10k, we need 18 million a day just to cover mined coins.

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Quote from: hatshepsut93 on March 08, 2020, 07:19:14 PM

Quote from: Twentyonepaylots on March 08, 2020, 06:54:20 PM

There's no signs at all that the coronavirus can trigger some sort of hyperinflation, we don't see any big drops in national currencies, and holding fiat is actually a good idea during a crisis, as long as the crisis isn't linked to hyperinflation, but then you can just hold foreign fiat. So overall there's really no fundamental reason to think that this epidemic is somehow good for Bitcoin.

I see the condition of the price of the place of exchange at this time the price of bitcoin and other cryptocurrency has decreased prices whether this includes the influence of the corona virus. I do not know much about it but from the spread of the corona virus all panic and the possibility of a bad can indeed trigger an economic crisis and will create critical financial conditions .