Coronavirus crypto - page 2. | Bitcointalksearch.org

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legendary

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Quote from: Debonaire217 on April 17, 2020, 11:14:37 AM

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Obviously, to some extent, bitcoin depends on the state of the global economy.
However, despite the deplorable state in which Bitcoin is located, it shows itself extremely positively, which somewhat surprises me.

Indeed, that is because bitcoin isn't relying to any assets, nor backed with any government. The only way bitcoin is defined is through the people using it. It's price is determined by the demand of the people. And IMO, bitcoin in relation to coronavirus crisis is a complete complement, I'm sure that most of the people who know bitcoin is utilizing it in times like this, that we are not allowed to go outside so our transaction occurs online.

I just don't know why when the COVID booms, bitcoin's price fluctuates too hard. Well, what is important is that, in just a week, it regained its stable price already.

Public demand, of course, is the most influential thing for bitcoin, where demand increases, so prices can be high because the availability of stock on the exchange is getting smaller, so many sell high and it becomes the main influence.
Well a few more days will be approaching halving whether the demand is increasingly full? I think yes where they want history to repeat again at very high prices but in times of crisis like this many people still doubt it because in the past bitcoin fluctuations were too severe to be seen with prices falling to the bottom making the holders nervous but with the increase now is a good start for bitcoin to recover.

finaleshot2016

legendary

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Degen in the Space

Quote from: ?? on ??

Obviously, to some extent, bitcoin depends on the state of the global economy.
However, despite the deplorable state in which Bitcoin is located, it shows itself extremely positively, which somewhat surprises me.

We still focus on the idea of demand and supply, which is why we still do not assume that at some stage the plague is disrupting the crypto market. We didn't think about the other aspects of the economy, which are the consumers who are most impacted by the latest pandemic.

So I hope they should stop suggesting the coronavirus doesn't impact the market 'cause we don't have proofs that will make this argument valid.

Debonaire217

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In Code We Trust

Quote from: ?? on ??

Obviously, to some extent, bitcoin depends on the state of the global economy.
However, despite the deplorable state in which Bitcoin is located, it shows itself extremely positively, which somewhat surprises me.

Indeed, that is because bitcoin isn't relying to any assets, nor backed with any government. The only way bitcoin is defined is through the people using it. It's price is determined by the demand of the people. And IMO, bitcoin in relation to coronavirus crisis is a complete complement, I'm sure that most of the people who know bitcoin is utilizing it in times like this, that we are not allowed to go outside so our transaction occurs online.

I just don't know why when the COVID booms, bitcoin's price fluctuates too hard. Well, what is important is that, in just a week, it regained its stable price already.

imstillthebest

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Quote from: isaac_clarke22 on April 17, 2020, 09:57:11 AM

Quote from: nennanem on March 23, 2020, 05:00:30 AM

Hey, I was wondering, how will the crypto market react to the virus?
In this regard, I found the article about it, https://cryptogeek.info/en/blog/coronavirus-reveals-cryptocurrencies-are-crisis-resistant, it says, that crypto is well resisted to the crisis, what do you think? Is that true?

Some are claiming that cryptos like Bitcoin are safe-haven for their assets, but now there are people panicking right now.
There ain't anything immune to crisis as people in it are the ones reacting as well as making the market as a consumer, putting it up the basic law of law of supply and demand.
For cryptos like Bitcoin, it was kinda affected as we saw the plummet of the price when this pandemic hit the globe.

i think he means resistant in a way that cryptos are still alive and not totally come to a point that thier value becomes zero or closer than that . what even better is that most cryptos now are rising again , it seems like cryptos arent affected with the virus if i were to ask and the fluctuations are normal just like before .

sure crypto market works in a law of supply and demand but not all people are paniking or pulling out thier assets but infact they even put more money . many reason behind that

isaac_clarke22

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Quote from: nennanem on March 23, 2020, 05:00:30 AM

Hey, I was wondering, how will the crypto market react to the virus?
In this regard, I found the article about it, https://cryptogeek.info/en/blog/coronavirus-reveals-cryptocurrencies-are-crisis-resistant, it says, that crypto is well resisted to the crisis, what do you think? Is that true?

Some are claiming that cryptos like Bitcoin are safe-haven for their assets, but now there are people panicking right now.
There ain't anything immune to crisis as people in it are the ones reacting as well as making the market as a consumer, putting it up the basic law of law of supply and demand.
For cryptos like Bitcoin, it was kinda affected as we saw the plummet of the price when this pandemic hit the globe.

Beginner Investor

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Hope someone can teach me to invest in cryptocurrency

Onuohakk

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Quote from: nennanem on March 23, 2020, 05:00:30 AM

Hey, I was wondering, how will the crypto market react to the virus?
In this regard, I found the article about it, https://cryptogeek.info/en/blog/coronavirus-reveals-cryptocurrencies-are-crisis-resistant, it says, that crypto is well resisted to the crisis, what do you think? Is that true?

The whole world is reacting badly to this global pandemic, talk more of crypto. This isn't the best time to forecast whether crypto is well resisted to the crisis or not. What I do know and understand is that nothing seems to be moving fine ever since the pandemic started, crypto market won't be an exemption to that. We are all encountering the global pandemic and soon we shall come out victorious when the covid19 is over

Janation

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Quote from: MCobian on April 17, 2020, 03:06:00 AM

It is not true that crypto is resistant to crisis, because crypto like other investments is affected by the corona virus as well. The proof is
the price of bitcoin had dropped to $ 4000, followed by the price of altcoins which also dropped. But the advantages of cryptocurrency
compared to other investments cryptocurrency is recovering faster, it is proven that cryptocurrency prices have now started to rise.

It is true that it is not resistant but that drop is not majorly because of the pandemic.

The proof is that despite the pandemic starts, the price increased two times. The first one is when it reached the price of $10K and the second one is when the price dropped to $4K, the price quickly recovered to $6K. That drop also was caused by the movement of the scammed Bitcoins to mixers, though it is true that the price is affected in a way by the pandemic as there are those people that sold their BTCs as they needed it.

MCobian

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It is not true that crypto is resistant to crisis, because crypto like other investments is affected by the corona virus as well. The proof is
the price of bitcoin had dropped to $ 4000, followed by the price of altcoins which also dropped. But the advantages of cryptocurrency
compared to other investments cryptocurrency is recovering faster, it is proven that cryptocurrency prices have now started to rise.

Latviand

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Quote from: meanwords on March 23, 2020, 07:31:19 AM

Quote from: Charles-Tim on March 23, 2020, 05:21:09 AM

The virus affected crude oil, stock and cryptocurrency markets. We all know that. The owner of binance and some analyst said the fall In the price of cryptocurrencies is not due to the virus outbreak the way we thought. But for me, the virus contributed.
Some people converted their money to stable cryptocurrencies at such time of the crises. And this led to further trading of cryptocurrencies for fiats and stable cryptocurrencies because of the cause. And this cause cryptocurrencies to down trend in price. That is why.

Agreed. Even the way people debated whether coronavirus is the cause is also a proof that coronavirus itself have an impact in the cryptocurrency space. People can't work, can't go outside, can't make a living for themselves, can't make any risk which affects traders around the globe. People prefer having hard cash in times of crisis like this instead of risking it in a market especially to a volatile market that Bitcoin have.

In conclusion, I don't think cryptocurrency is crisis proof at this time.

The economy of US which has a 676k number of cases now crashes as the stock market is the most affected. The impact of this virus is very unpredictable to them because they are not that ready for this pandemic. At first, they don't take the Covid-19 disease seriously because of their leader, Trump, who is a racist and we all know that there is some conflict between the Chinese and US government. The economy of China is somehow stable compared to other countries since the virus originated from them, it is so amazing how they controlled their market and economy. Cryptocurrency in China is for sure stable and progressive because of their economy, but in the US, I don't think that they can manipulate cryptocurrency properly with the pandemic.

Janation

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Quote from: nennanem on March 23, 2020, 05:00:30 AM

Hey, I was wondering, how will the crypto market react to the virus?

The virus did not affect the cryptocurrency directly unlike other investments.

As people would say that the pandemic is affecting the price of Bitcoin but not directly. As there are people that would be selling their Bitcoins to give their needs in this lockdown, there are those that buy so they would be ready with the halving that will happen. The proof of it is when the price dumped to $4K and just after days, the price went back to $6K. Another note here is that the pandemic is not the one responsible for that dump.

finaleshot2016

legendary

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Degen in the Space

I think the novel coronavirus serves as one of the factors that make cryptocurrency at downfall today. The crypto market is somehow related to the oil, stocks, forex and other markets as well. And we all know that the market plays in the concept of demand and supply and we could assume that it's not.

But you guys forget about the consumers and producers who really played well in that concept and those are affected by the coronavirus, so definitely it really affects the cryptocurrency but in the minimal state.

sayam

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Corona Virus could not collapse crypto market at once but there may be difficult times ahead for us. On the contrary, it may be happen that we may seen a good situation. However, I'm hopeful that we will overcome all current obstacles.

valuater

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Quote from: bangdik123 on March 24, 2020, 07:24:11 AM

Quote from: ?? on ??

Bitcoin is headed to $50k for sure.

It is not impossible that happens, but it seems that it will take time to be able to regain strength with the condition of this co-19 virus pandemic, of course everyone who becomes an investor still needs time to think far ahead, because everyone is in a state of worry about their lives.

Indeed, it takes time to be able to recover the price of bitcoin, with the situation that is still not conducive because this corona is almost all currencies not just cryptocurrency it has an extraordinary impact. Of course this is also one of the unprecedented experiences where almost all countries experienced the worst conditions except for the USD which indeed has a policy of cutting interest rates to 0, so the impact of bitcoin is currently weakening, one of which is due to US policy.

Hopefully all of this quickly ends and bitcoin can come back strong in the next few weeks

LEON331300

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Surely, the virus isn't the only reason for the call of major stable coins, but I can say it takes the major cause. This virus made holders sell their coins due to fear and panic, who would blame them, since crude oil and stock market fell, the fate of the cryptocurrency could not be predicted, these factors all together resulted in fall of price.

owengtam09

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Quote from: nennanem on March 23, 2020, 05:00:30 AM

Hey, I was wondering, how will the crypto market react to the virus?
In this regard, I found the article about it, https://cryptogeek.info/en/blog/coronavirus-reveals-cryptocurrencies-are-crisis-resistant, it says, that crypto is well resisted to the crisis, what do you think? Is that true?

The whole world is really affected, even bitcoin is affected, maybe because of lockdown. Many people now cannot go out to some places. Someplace or some country needs to go outside just to buy bitcoin but as of nowhere in our country we cannot go outside, even the workers cannot go to their workplace, so a lot of people are affected by their income. Maybe that is also because a lot of us now are selling their bitcoins to buy their needs especially foods.

bangdik123

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Quote from: ?? on ??

Bitcoin is headed to $50k for sure.

It is not impossible that happens, but it seems that it will take time to be able to regain strength with the condition of this co-19 virus pandemic, of course everyone who becomes an investor still needs time to think far ahead, because everyone is in a state of worry about their lives.

peter0425

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Quote from: nennanem on March 23, 2020, 05:00:30 AM

Hey, I was wondering, how will the crypto market react to the virus?
In this regard, I found the article about it, https://cryptogeek.info/en/blog/coronavirus-reveals-cryptocurrencies-are-crisis-resistant, it says, that crypto is well resisted to the crisis, what do you think? Is that true?

it is not my type clicking links from low ranks so sorry for that.

i will rely on your Post in which asking how will crypto market react in this Virus in which i think the only relevant story is People in crypto is now selling their currency and converting to Fiat.

this serve as why the market suddenly fall that bad,but now i believe that we are in recovery stage so just wait for another weeks or months and we will see good movements again.

Yatsan

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Leading Crypto Sports Betting & Casino Platform

All type of currency and markets are based on the law of supply and demand, so for me; the virus affect crypto due to the fact that this virus is affecting other market like stock, forex, commodity etc. In this times, people need money, so my guess is a lot of bitcoin holders are exchanging their bitcoins and other crypto to fiat to survive this virus. If you are aware a lot of country now are on lock-down, including our country so personally I pull out some of my investment and buy basic needs and a lot of stock foods to survive this pandemic. In this situation the demand for bitcoin will go lower so same with the price, and same with the other type of market.

ethereumhunter

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Leading Crypto Sports Betting & Casino Platform

Quote

In his comment given to The Independent, the cryptocurrency expert Glen Goodman said that the Bitcoin price crash was a reaction of the stock market wreck. People needed cash to pay off their debts to the brokers. So they had to sell everything they could including crypto assets.

That statement could be the reason why the crypto market has fallen so deep. People need money among the spreading of the virus, and they use cash to buy their daily needs. While some of them are using digital money like credit/debit cards, they also use some apps which they've already deposit before so they can pay with the mobile phone. But they don't use the crypto as the payment method.

The future crypto is bright, but it will not happen so soon because we know that improvement from the government is an important thing that will allow crypto to be used besides fiat. After all, we like to see crypto already rise for now, although it is not too high as we want, and it is enough for us to make a profit.

Topic: Coronavirus crypto - page 2. (Read 1326 times)