Topic: CORONAVIRUS IMPACT ON CHINA ECONOMY - page 4. (Read 866 times)

I agree with you! The price increase in the current crypto market tends to be driven by Halving, as mentioned by @fiulpro above.

Coronavirus outbreaks should not be a factor in rising prices on the crypto market, because if so, (maybe) someone would expect another virus outbreak to occur.

They isolated 6 cities over 62,000,000 not 11,000,000

This will set China backwards.  How backwards?

Depends if it grows to 200 or 300 million or starts to shrink down from 62 million to normal numbers.


Actual victims of virus appears to be under 100,000 . With under 1000 dead.

Hard to tell how bad it will get.

It could be one, or it could be both (halving and virus). But there's really no way to know whether it affects it or not. I'm on the side of it having little to no effect though. Simply because, Corona virus was found early, and vaccines were made early. Not only that, before the spread of the virus to other countries, a lot of them were already quite prepared with what to do in terms of its spread in their countries.

Additionally, let's be real here. Investors and traders alike should know the repercussions of a virus, and so, would build up research upon its effects on the world so that they could take action depending on the results. Seeing as the virus is not at the stage where the whole world is in immediate danger, plus with the quick movements of various countries regarding the cure, It's highly unlikely that investors would try and use BTC as an escape towards the economy of China through buying them out continuously.

I suppose there is no direct correlation between the NCoV outbreak and its effects to crypto markets, not unless a formal study is conducted systematically.

Now I'm inclined to believe that BTC and other crypto fundamentals are getting good that retail investors are now becoming more confident with crypto investing. I hope I'm right with that assumption.

Yes there will be an impact on the economy. Aside the direct impact of businesses closing shops, people being forced to take breaks and work from home  which translate to lower productivity couple with the inability to move across the city with every business that serves that purpose. That is the local impact to their economy. Outside the local economy is the amount of flight canceled which had earlier being billed to go there, the number of import and export activities that will be put on hold because of the virus without limiting the cost attached of containing the virus. Put all of these together, 2% prediction is just being economical with the truth.

Given that the incubation period is up to 14 days, the virus could easily spread quite widely around the world.
And if the coronavirus is so harmless, then why completely cut off from communication with the world, a city with a population of 11 million people?!
Everything can be much more dangerous than many people think.

Although corona virus is not directly related to money, it still has an impact towards China's economy. Corona Virus is not joke that it is spreading faster and faster so people can easily get it when they go to an affected area. People will not go out in their houses because of the fear of having the disease, so the government advises the public not to go out. Many people will not go to work because it is safer not to go out. But the cryptocurrency is still the same because the use of blockchain technology in China doesn't require people to go out. It only needs your account and wallet but you can't withdraw money outside.

Remember how many other virus outbreaks we have in the last 10 years? People also talked about this, made their arrangements, etc. But now we don’t even remember what happened. But we are talking about a coronavirus, which it will also soon forget, because we will discuss something else.
I don't think that the coronavirus epidemic will somehow affect China. Even in China (where the virus began to move), not many people got the virus.

Firstly one should understand that it's not necessary that because of a virus outbreak bitcoins grew drastically.
No , it's nothing like that.
I do think it is because of the Halving which is gonna be here soon enough .
Yes there are certain factors that come into play and we cannot just individually sort everything out but I would say as long as a  virus outbreak is concerned it had maybe 1-10% hand in doing something like this .
Halving is a very major event that everyone has been waiting for since a long long time.
The Virus is pandemic but not that drastic it's just unknown.

ECONOMIC BUSINESS


WUHAN  city of China where the coronavirus outbreak emerged. Estimates vary on the exact size of the population, with local government officials putting the figure at 11 million, though UN data from 2018 says 8.9 million people live in the central Chinese city. Either way, the city is around the same size as London, but much bigger than Washington DC. One estimate makes it the 42nd biggest city in the world, and the seventh biggest in China.

The economic impact of the virus is still Hard to determine, but one state media outlet and some economists have said that China's growth rate could drop two percentage points because of the outbreak. A decline on that scale could mean $62 billion in lost growth, as China contended with rising debt and the fallout from its trade war with the United States.
Central and local governments have allocated $12.6 billion so far to spend on medical treatment and equipment. Some Banks in china have cut interest rates for most hit areas while Bank of China Encourage it would let people of Wuhan Area of CORONA VIRUS outbreak and rest of Hubei delay to their loan payments if they lost source of income due to the incident for several months.
Some Economist says China's economic growth may drop to 5 percent or even lower due to the coronavirus outbreak, possibly pushing policymakers to introduce more stimulus measures. The fast-spreading outbreak, which has killed more than 170 people and infected between 6,000 to 7000 in China, could cut first-quarter gross domestic product (GDP) growth by about 1 percentage point'.
"GDP growth in the first quarter of 2020 could be about 5.0 percent, and we cannot rule out the possibility of falling below 5.0 percent," Said Economist

CORONA VIRUS IMPACT ON DIFFERENT CRYPTO MARKETS

BITCOIN

As the virus spread, the BTC price grew sharply, reaching $9,439 on January 28, 2019. And always know the effect on the change of Bitcoin always followed by the different crypto markets like Ethereum, bitcoin, BTCH, etc The Question Remain to the community will the CORONA VIRUS  favor Crypto Market.    

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