Corona Virus will Impact the price of Bitcoin ? - page 4.

HammaSan

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Quote from: Darker45 on January 26, 2020, 12:56:48 AM

Quote from: NNRR on January 26, 2020, 12:42:51 AM

The corona virus has been attacked in many countries. Many People have died and many more people have been attacked this virus. so do you think situation with corona virus will impact the price of Bitcoin.

This is the kind of question we get when every time Bitcoin rises and falls significantly and seemingly out of nowhere it is directly associated with anything like the US-Iran tension, Hong Kong protest, and so on.

Bitcoin has the capacity to grow and its price increase with or without calamities, disasters, and violence.

I wonder if the possible zombie apocalypse would also affect the price of Bitcoin.

I think you're partly right. In the case of the Corona virus, I don't think it's very likely that it will influence the price of Bitcoin. But if two countries come into conflict, one way for the population to protect themselves financially is to buy assets that will give them some security, if the conflict extends over a very long period. Gold as well as Bitcoin are reserves of value that serve this purpose very well. In this case we are talking about a very large number of people who may come to buy Bitcoin and in that way it can increase its value.

Clairvoyance

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There is no correlation at all. A sudden rise in price is not always related to what media deemed to publicize. Always remember, correlation does not mean causation.

bitbunnny

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Every time I'm surprised over and over again when I seed threads like this.
Not everything that appears in this world, no matter from the field of economy, health, environment or whatever else, doesn't necessary influence Bitcoin price. Sometimes I think that people are trying to find all possible excuses or reasons to explain or justify price changes.

Juggy777

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Quote from: NNRR on January 26, 2020, 12:42:51 AM

The corona virus has been attacked in many countries. Many People have died and many more people have been attacked this virus. so do you think situation with corona virus will impact the price of Bitcoin.

@NNRR the news of this virus spreading has spooked investors who believe that global economies shall take a hit, which in turn may lead to long periods of recession in many countries. It is due to this sudden fear many investors are rushing to purchase bitcoins and gold, and due to this sudden purchase bitcoin prices have shot up.

Source:

https://www.newsbtc.com/2020/01/27/strong-bitcoin-rally-sparks-fears-of-a-virus-driven-violent-recession/

secone

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Quote from: NNRR on January 26, 2020, 12:42:51 AM

The corona virus has been attacked in many countries. Many People have died and many more people have been attacked this virus. so do you think situation with corona virus will impact the price of Bitcoin.

in global economic im sure its will impact chinese, the resort, the trust and im sure people in hongkong who want to break away from china, they will more active, like last isolated hostipal get burned in hongkong , Hong Kong protesters set planned quarantine building on fire amid coronavirus concerns

of course for bitcoin the volume in chinese greatly reduced, but the price still stable, you can check here
https://cointelegraph.com/news/blockchain-not-bitcoin-chinas-btc-volume-on-localbitcoins-hits-2-year-low

Hippocrypto

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Quote from: cryptoangel on January 28, 2020, 06:01:22 AM

Corona Virus will never big impact of Bitcoin, because it will affect the Share Market of China, India, Hong Kong, Singapore and Sri Lanka. But crypto will growing gradually and all the investors are happily celebrate the current moment. I think right now BTC cross the 9k USD so further hype will occur at similarly on all the coins.

Nothing won't stop the growing demand of cryptocurrency, and even if there's a fear of that virus, the investors will pursue their interest to purchase bitcoin as a potential increasing asset. I know thi virus will be contained significantly within a specific period of time. If we'll able to survive this current problems, crossing $9k or even $10k will be possible.

Bagaji

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Quote from: NNRR on January 26, 2020, 12:42:51 AM

The corona virus has been attacked in many countries. Many People have died and many more people have been attacked this virus. so do you think situation with corona virus will impact the price of Bitcoin.

The current out brake of Corona virus is some country may not really influence the market value of Bitcoin and crypto currency in general base on the fact we have not seen in the past where an out brake of virus has influence the market value of Bitcoin and crypto currency in general.

beerlover

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You can "sort of" connect them together but at the same time its a really thin stretch if you want to. Sure maybe china is going through something major right now, sure maybe they will have hard time containing it, maybe then it will spread to other nations, that might also affect those nations economies and be a global epidemic which would result with all finances including bitcoin to be affected. Yet do we really think that it will get out of hand that much?

I mean don't we know that corona in itself doesn't have that much contamination all around the world already? China, even tho a horrible nation, will take this under hand right away and will fix all of the problems, all those messages on whatsapp and facebook that tries to spread fear is just old people making stuff up.

mbawan1

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yes if some conditions applied it help to increase price of bitcoin . for example when u need to send aid to that affected countries and wanted to send speedy transactions then people buy bitcoin to send .. and more and more people when buyed at once when disaster happened to send money in seconds then it takes btc price up . if these conditions not applied then btc price should not decreased by virus like that ... when more buyers and holders then price will up and when less buyer and more sellers then price goes down ...

cryptoangel

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Corona Virus will never big impact of Bitcoin, because it will affect the Share Market of China, India, Hong Kong, Singapore and Sri Lanka. But crypto will growing gradually and all the investors are happily celebrate the current moment. I think right now BTC cross the 9k USD so further hype will occur at similarly on all the coins.

Saint-loup

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Quote from: figmentofmyass on January 27, 2020, 02:47:52 PM

now bloomberg is calling bitcoin "a safe haven" because it rallied into the coronavirus outbreak: Bitcoin Bolsters Its Claim as a Haven With Rally Topping Gold’s

all of a sudden, they're pointing to a 60-day positive correlation with gold to make the argument. anything to explain a rally! the news media is hilarious. Cheesy

reading between the lines though, there's been a notable positive shift in mainstream media sentiment. these bullish headlines tell me that sentiment is really beginning to shift in the bulls' favor.

Thank you for this small article, but it's not "all of a sudden" at all. Most traders follow the digital gold narrative since the beginning of the Iran-USA conflict and the pegging with the crude oil and gold price risng. It's just like that, and you can't be against it. Even the oldest bitcoin holders can't do anything against that, because the market is in the hands of traders, not the hodlers. I'm not saying it will eternally be the case, but for the moment bitcoin is seen as a safe haven asset by the market.

adaseb

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Looking at the correlation of Bitcoin and the Chinese stock indicies I am not seeing anything.

When the first outbreak occured, nothing happened.
When the second outbreak occured, Chinese stocks and Bitcoin both went down.

When the third outbreak occured, Chinese stocks went down and Bitcoin went up.

I just don't think this will have any medium or long term impact on Bitcoin. And I assume that most of the stock indicies pullbacks due to this news are already at the lows and the markets will rebound in a few days. Just too much fear going around all of a sudden.

figmentofmyass

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now bloomberg is calling bitcoin "a safe haven" because it rallied into the coronavirus outbreak: Bitcoin Bolsters Its Claim as a Haven With Rally Topping Gold’s

all of a sudden, they're pointing to a 60-day positive correlation with gold to make the argument. anything to explain a rally! the news media is hilarious. Cheesy

reading between the lines though, there's been a notable positive shift in mainstream media sentiment. these bullish headlines tell me that sentiment is really beginning to shift in the bulls' favor.

darkangel11

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Quote from: mahilchii on January 27, 2020, 01:46:12 PM

I really don't understand why people are concerned about the corona virus here, can anyone explain me how this could impact the price of Bitcoin???

I think it looks like people are spreading fuds in this page to make it cheaper, nothing else is connected with the topic here. I can see the virus lookalike a real horror but it is not associated with BTC.....

Coronavirus is not a big threat if you compare the number of people in China to the number of people who died from the virus. How many deaths there were? 10? Coronavirus is a joke at this point. Sure they can't treat it but they can treat the symptoms and keep the sichk alive while they fight the virus on their own. If you're to weak you may die, but most people survive. The mortality at this point is what 10%? It's higher for cancer.

Dalmar

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Quote from: Wysi on January 27, 2020, 11:57:45 AM

This Corona virus will not affect bitcoin price in any possible way and we should stop comparing about all the events happening around world with bitcoin price yes there are certain news or move which impacts Bitcoin's price but not all. As far as I am aware this is a man made virus spread across in order to sell vaccines.

I know it is not directly related to the question itself, but this thing keeps my mind busy. What if the virus gonna spread all over the world and the interest will shift towards the safe asset due to the anarchy in the world. Of course, it sounds like the scenario of a horror movie but not impossible you know.

mahilchii

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I really don't understand why people are concerned about the corona virus here, can anyone explain me how this could impact the price of Bitcoin???

I think it looks like people are spreading fuds in this page to make it cheaper, nothing else is connected with the topic here. I can see the virus lookalike a real horror but it is not associated with BTC.....

Webetcoins

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Quote from: affandi on January 26, 2020, 05:52:51 AM

don't always associate disaster with the existence of bitcoin or the future of bitcoin. After all this is still a local disaster, and it seems they are focusing on finding a safe place to avoid the corona virus, not to find alternatives about how to secure crypto assets. There are no economic disasters and no war disasters here.

Coronavirus is a deadly virus affecting many states and taking many lives. Though china has banned travelling and they are working to control this but still it is affecting many people in other countries also. Be careful about yourself and your families, follow the precautions to have a healthy life. I also do not find any logical link between the virus and the market. Just take it as a health disaster and protect humanity.

kro55

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Quote from: NNRR on January 26, 2020, 12:42:51 AM

The corona virus has been attacked in many countries. Many People have died and many more people have been attacked this virus. so do you think situation with corona virus will impact the price of Bitcoin.

whats relationship of this virus with bitcoin price?
Bitcoin is again moving up but I don't think there is any connection b/w this corona and current bull run. rest with time things will get more clear.

nickenburg

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I think it is pretty Bullish for Crypto's, because you can send value/money without any interaction with other people, and seeing how easily this virus is distributed, we might see a lot of scared people who don't want to interact with people anymore.

I have heard Gasmasks and filtermasks are being sold out online and in stores around the world.
People are preparing for the worst and with such a long incubation time(2 weeks) and that you can pass the virus along without having any symptomes yet it seems very serious to me.

Only time will tell how this virus will spread if it is really that serious but China is taking it very serious, and the videos comming out of there it doesn't look to good!

Wysi

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This Corona virus will not affect bitcoin price in any possible way and we should stop comparing about all the events happening around world with bitcoin price yes there are certain news or move which impacts Bitcoin's price but not all. As far as I am aware this is a man made virus spread across in order to sell vaccines.

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