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Topic: Corona Virus will Impact the price of Bitcoin ? (Read 1810 times)
People are scared, many enterprises are closed, many countries have closed borders...
In this situation, there is an outflow of money in fiat, since now many are without work. No one knows how long the fight against coronavirus will last
It's human to react that way, we want to address all our basic needs in times of big crisis because, in a crisis like this, there is a lot of uncertainty, and people wants to secure everything they love and converting their assets and their investment is the only way they can secure their love ones and their properties.
coronavirus did not affect bitcoin price directly but indirectly it had its effect on the price. if we follow the chain of events we can see that initially Coronavirus started spreading in China then the Chinese boarders were closed and companies around the world, specifically in US started feeling it hard and many of them lost billions. all those losses started showing up in stock market and caused a drop which spiraled down to a big crash. the panic started and just like the virus it infected other markets including gold, oil, and finally bitcoin.
it was the panic that caused the impact of all...a few weeks ago when the price of Bitcoin fell a lot, many thought the cause was the panic of the coronavirus but I think it was a wave towards Halving Day.
It has impacted everything.
Hence it will impact bitcoin as well.
Hence it will impact bitcoin as well.
If it affects people, it affects everything related with people! In these times just nature is getting better, there is less pollution from people, now most of the people sits at home! I read about coronavirus, possible effects on economy and society in general. What I can notice is that many people think that after this world will not be the same, many things will change. What exactly nobody knows, just a bunch of speculation and possible scenarios.
I speculate that China might be lying about their reported cases of people that are sick of the coronavirus. The sick might be triple than the numbers reported and might be destroying all types of Chinese businesses including bitcoin mining.
With Chinese, we can't be sure in anything! They have a history, we all know that Chinese are capable for doing this sort of things, manipulating to make advantage, they mastered that! To be honest in some moments I don't know what to think, I read about many things and so many conspiracy theories, and everything can be truth, but not necessarily.
Businesses are being destroyed all over the world, the worst thing is that nobody can say when will see the end! Definitely this is a big game, and while some players are going down new ones are popping out.
I speculate that China might be lying about their reported cases of people that are sick of the coronavirus. The sick might be triple than the numbers reported and might be destroying all types of Chinese businesses including bitcoin mining.
Vector Moranov, miner and member of the Bitcoin Foundation, noted to Cointelegraph that apart from a direct relationship between the BTC hash rate drop of March 2020 and the Bitcoin price, miners also have fears of an economic crisis that might happen due to the coronavirus pandemic.
A decrease in the hash rate could also be caused by a deficit of miners and the closure of farms and production in China, as well as the rise in the price of the equipment.
Read in full https://cointelegraph.com/news/bitcoin-hash-rate-drop-miners-the-halving-and-coronavirus-suspected/
Vector Moranov, miner and member of the Bitcoin Foundation, noted to Cointelegraph that apart from a direct relationship between the BTC hash rate drop of March 2020 and the Bitcoin price, miners also have fears of an economic crisis that might happen due to the coronavirus pandemic.
A decrease in the hash rate could also be caused by a deficit of miners and the closure of farms and production in China, as well as the rise in the price of the equipment.
Read in full https://cointelegraph.com/news/bitcoin-hash-rate-drop-miners-the-halving-and-coronavirus-suspected/
It has impacted everything.
Hence it will impact bitcoin as well.
it has impacted already weeks ago if you did not notices the prices mate.Hence it will impact bitcoin as well.
we fell more than %50 from the previous Good market value.
and also there are so many Fud that spreads the whole market so expect more panic.
but one good thing that this virus gives us and that is the power of purchasing again from the long time waiting now this is our chance so what are you waiting?
It has impacted everything.
Hence it will impact bitcoin as well.
Hence it will impact bitcoin as well.
This virus already affects on price of Bitcoin. Currently Btc price is under $10000 which is down.
LOL,.. but some were saying it affected the price of bitcoin and the price pumped, yours are the opposite.
Actually, I'd only believe on statement with proper basis, so what are your basis on why the price is down currently? how is it connected to Corona virus?
coronavirus did not affect bitcoin price directly but indirectly it had its effect on the price. if we follow the chain of events we can see that initially Coronavirus started spreading in China then the Chinese boarders were closed and companies around the world, specifically in US started feeling it hard and many of them lost billions. all those losses started showing up in stock market and caused a drop which spiraled down to a big crash. the panic started and just like the virus it infected other markets including gold, oil, and finally bitcoin.
But it's good bitcoin now is slowly recovering and I believe that when we think the crypto market will be bullish before the corona virus, now I believe it will be more bullish because crypto market will soon get big investors as the crisis continue. I am seeing it as its likely to happen as eventually this would inflate the fiat value as our economy is struggling and FEDS might be creating more paper money which does not look fair.
For many businessmen and investors, the cryptocurrency market is becoming more attractive than anything today, since even oil is falling rapidly in price. Of course, the virus dramatically changes the financial and economic situation in the world and in individual countries, since the announced quarantine does not contribute to the development of countries. At the same time, the United States government wants to apply innovative methods to keep the economy operational. We can see the results of this only after a while, but the absence of strict quarantine measures can only do much harm.
The virus really created panic in the market when news of world-wide spread started occuring.
These are really trying times and I believe with attitude, faith and prayers the good times will hit us again.
Stay Safe Guys!
These are really trying times and I believe with attitude, faith and prayers the good times will hit us again.
Stay Safe Guys!
Exactly, with peoples' prayers, countries will recover their economic growth to recover the countries economic growth it will take a lot of time. So now it is completely challenging for most of the companies will be affected by this lockdown. During this downturn, we should research more thing about the cryptocurrency.
The virus really created panic in the market when news of world-wide spread started occuring.
These are really trying times and I believe with attitude, faith and prayers the good times will hit us again.
Stay Safe Guys!
These are really trying times and I believe with attitude, faith and prayers the good times will hit us again.
Stay Safe Guys!
We are praying for the pandemic to be stop as everyone of us are effected with this pandemic, it will make people panic because they can't go to work anymore, they can't make money because they are ordered to stay at home, it's like we are playing a survival game.
However, on the crypto market side, this seems not affecting that much because crypto is now recovering.
The virus really created panic in the market when news of world-wide spread started occuring.
These are really trying times and I believe with attitude, faith and prayers the good times will hit us again.
Stay Safe Guys!
These are really trying times and I believe with attitude, faith and prayers the good times will hit us again.
Stay Safe Guys!
This virus already affects on price of Bitcoin. Currently Btc price is under $10000 which is down.
LOL,.. but some were saying it affected the price of bitcoin and the price pumped, yours are the opposite.
Actually, I'd only believe on statement with proper basis, so what are your basis on why the price is down currently? how is it connected to Corona virus?
coronavirus did not affect bitcoin price directly but indirectly it had its effect on the price. if we follow the chain of events we can see that initially Coronavirus started spreading in China then the Chinese boarders were closed and companies around the world, specifically in US started feeling it hard and many of them lost billions. all those losses started showing up in stock market and caused a drop which spiraled down to a big crash. the panic started and just like the virus it infected other markets including gold, oil, and finally bitcoin.
Quote from: Ziskinberg
LOL,.. but some were saying it affected the price of bitcoin and the price pumped, yours are the opposite.
Actually, I'd only believe on statement with proper basis, so what are your basis on why the price is down currently? how is it connected to Corona virus?
In this situation, there is an outflow of money in fiat, since now many are without work. No one knows how long the fight against coronavirus will last
There has been news circulating online that the vaccine was already created, so hopefully this panic will be over soon.
when the virus is gone, we will see how bitcoin will pump then and people who are complaining right now, might be enjoying when bitcoin will recover.
The effect of the economy is huge, my business was close due to the virus and I really loss a lot of money of the periods its close, but who am I to violate if the precaution is for the safety of the people, time to sacrifice the other income now but not in crypto as we can buy as much as we can now.
Quote from: Ziskinberg
LOL,.. but some were saying it affected the price of bitcoin and the price pumped, yours are the opposite.
Actually, I'd only believe on statement with proper basis, so what are your basis on why the price is down currently? how is it connected to Corona virus?
In this situation, there is an outflow of money in fiat, since now many are without work. No one knows how long the fight against coronavirus will last
This virus already affects on price of Bitcoin. Currently Btc price is under $10000 which is down.
LOL,.. but some were saying it affected the price of bitcoin and the price pumped, yours are the opposite.
Actually, I'd only believe on statement with proper basis, so what are your basis on why the price is down currently? how is it connected to Corona virus?
This virus already affects on price of Bitcoin. Currently Btc price is under $10000 which is down.
This might be another cause why the corona virus might be bad for bitcoin's price. The cash that can be used to pump it can be held by the government for quarantine hehehehehee!
Fan Yifei, deputy governor of the People’s Bank of China, revealed at a press conference on Saturday that China is now quarantining old bank notes in order to contain the spread of the coronavirus.
Yifei says money in worst-hit areas will be sanitized with heat and ultraviolet rays, and quarantined for two weeks before being distributed again.
Read in full https://dailyhodl.com/2020/02/16/coronavirus-cash-quarantine-comes-to-china-in-attempt-to-sterilize-fiat-currency/
Fan Yifei, deputy governor of the People’s Bank of China, revealed at a press conference on Saturday that China is now quarantining old bank notes in order to contain the spread of the coronavirus.
Yifei says money in worst-hit areas will be sanitized with heat and ultraviolet rays, and quarantined for two weeks before being distributed again.
Read in full https://dailyhodl.com/2020/02/16/coronavirus-cash-quarantine-comes-to-china-in-attempt-to-sterilize-fiat-currency/
Yes maybe will affect if will affect china producers of asic and miners.
How about this one https://cointelegraph.com/news/chinese-crypto-mine-stop-or-stall-operations-due-to-coronavirus-outbreak ?
Im not saying affecting directly the price of bitcoin but this scenario will affect mining operation yet most or big part of them resides on china
and we dont know on what would happen further or ahead if this would continue.
Im not saying affecting directly the price of bitcoin but this scenario will affect mining operation yet most or big part of them resides on china
and we dont know on what would happen further or ahead if this would continue.
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