Coronavirus/Covid 19 Impact on World Economy Hit Bitcoin - page 2.

tippytoes

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Quote from: boyptc on March 20, 2020, 06:58:09 PM

In a crisis like this. We should be ready and prepared whatever the outcome would be.

There will be now a great consideration for the usage of bitcoin because of the possible transmission of the virus through fiat money. They will see how bitcoin is applicable in situations like this. The economy has been hit hard but bitcoin is recovering.

But the problem lies the fact that up until now very few merchants are accepting bitcoin as part of their payment method. I hope those merchants or stores will consider bitcoin or crypto now that we are in the world crisis and having high risk of using fiat currency.

The vaccine I think will not be available anytime soon as they are still in the trial stage. We need to find alternative options on how to address our everyday living situation to prevent getting infected.

boyptc

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In a crisis like this. We should be ready and prepared whatever the outcome would be.

There will be now a great consideration for the usage of bitcoin because of the possible transmission of the virus through fiat money. They will see how bitcoin is applicable in situations like this. The economy has been hit hard but bitcoin is recovering.

ololajulo

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It is difficult to compare the pandemic situation to any lately. Its a bigger world population and technology aided the spread, especially the development in transport system around the world. It was not easy to monitor the movement within the world and the spread even in the developed world. In the attempt to break the spread the isolation process had stop business and industrialization. It has also taken a different proactive decision from the governments to get into more debt

palle11

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I think this is on the contrary. Yes at the beginning of the epidemic, bitcoin was suffering because people were converting their coins to fiat to get help but I think at the time cash was included as the transmitting mode and were being burnt, people started going back to bitcoin and now price is coming up.

fiulpro

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I do think that what people are not realizing are :

Corona Virus is general have increased the usage of Bitcoins .

Since the Fiat and banks are closed and jeopardized , cryptocurrencies are coming to the rescue.

People are using it more than ever and it has nothing to do about the price of Bitcoins right now because in the time of a global pandemic one cannot expect Bitcoins to maintain it's normal rate .

tbterryboy

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Quote from: SUMBI99 on March 18, 2020, 04:13:01 PM

What are the suggestions on the world economy, if Covid 19 will continue to spread in other parts of the world as its impact also hit Bitcoin and Crypto In General, Your welcome?

It’s still going to have the same impact as it did in other countries where it started. Lots of People will be quarantined and the economy will fall back a bit since people will stop working as much and try to stay indoors as much as possible to prevent and subdue the spread.

So, it is going to be having a similar impact, but I don’t hope for such a thing to keep spreading, especially in Africa where their health system is very poor and their government cares less about them. If it should spread out in such countries it’s going to be deadly, so I pray that it doesn’t and I wish it stops.

kawetsriyanto

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Quote from: SUMBI99 on March 18, 2020, 04:13:01 PM

What are the suggestions ~~

I'm not sure if the little suggestion below can help the world economy improve. But I assume this what we can do right now.

Suggestion for the government:
1. To continue trying to eradicate the Covid-19 globally by cooperating among countries in the world.
2. Make sure that the cure can be discovered by researchers. Produce it in large quantities and spread it out globally.
3. Keep society to stay at home and help them to fulfill daily needs. Try to reduce the number of victims to a minimum.

Suggestion for the society:
1. Stay at home and keep doing productive work although you have a very limited space to work.
2. Make sure that you have done effective ways to prevent Covid-19.
3. Always monitor the current news related to Covid-19, especially in your city/country.

Suggestion for the crypto/Bitcoin users:
1. Stay at home while trading and investing in crypto/Bitcoin. Don't be panic and keep positive thinking in the crypto future.
2. Don't be easy to be influenced by FUDs. We must be aware that some people may take advantage of this Covid-19 pandemic.
3. Be smart to manage our assets. No panicking sell or buy.

>Hope that the Covid-19 pandemic can be over very soon. Then, people can do their activities normally. So, the world economy will grow and recover gradually.

Kurokonobasuke

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Quote from: SUMBI99 on March 18, 2020, 04:13:01 PM

What are the suggestions on the world economy, if Covid 19 will continue to spread in other parts of the world as its impact also hit Bitcoin and Crypto In General, Your welcome?

The Coronavirus has a large impact in the whole world in the terms of the lifestyle of every individual and economy. When the lock down implements in every country many businesses, worker, and school classes are stopped the operations to follow the order of government to prevent of spreading the virus. To keep ourselves safe from the virus we should obeyed the order of government. And set aside our businesses because for now, our health is much important in everything that we have. Stay safe guys.

Wexnident

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There's no suggestion to be made tbh. The only solution for the world economy to return to its usual movement would be for a vaccine to be made, and currently, medical centers and scientists for that field are already doing their best. The first phase of the testing of the recently made vaccine is about to start and well, other than waiting, we have no other choice. The quarantine can prevent the spread, yes, but it isn't a perfect solution. Not only that, even with the vaccine out for testing, even if it does work, there are still more tests for it to undergo through. The FDA has already made arrangements for the vaccine to not be used until it is verified that it is safe for human intake after all

Baofeng

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Quote from: SUMBI99 on March 18, 2020, 04:13:01 PM

What are the suggestions on the world economy, if Covid 19 will continue to spread in other parts of the world as its impact also hit Bitcoin and Crypto In General, Your welcome?

Can we tell them to invest or hedge their wealth to bitcoin? But no, I don't think that countries around the world with do that, suggestions? each nation has been doing it right now, stimulus packages, lower taxes, but still we haven't have any idea of the extend of the damage Covid-19 has done to the world economy.

@Janation - yes 2018 was much worst, however, there's no pandemic that time. It was more of a bubble being burst than anything else.

Janation

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Quote from: TravelMug on March 19, 2020, 10:47:51 PM

Obviously, we have seen crypto being hit as well, we've seen it down to almost 50% because of the panic that Covid-19 virus has done. And we haven't seen this before in the 10 years that crypto has been in the market, so we are caught off-guard by it.

I think we've seen the worst fall in 2018 at 65%.

The price now is slowly recovering and now at $6.1K and it might be the start and the halving is not even happening. How much more when the halving happens though we don't know if the price will continue to increase.

TravelMug

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Obviously, we have seen crypto being hit as well, we've seen it down to almost 50% because of the panic that Covid-19 virus has done. And we haven't seen this before in the 10 years that crypto has been in the market, so we are caught off-guard by it.

However, just be looking at the price today, it looks like we are in the bullish divergence, after last week's blood bath. But we shouldn't be cautious, it's not over yet, there are no vaccine as of now. And as the virus quickly spread out across the globe, many country's economic as going to be hit hard as well. And we don't know if crypto will be a good leverage at this kind of pandemic.

24Kt

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Quote from: Gozie51 on March 19, 2020, 02:02:01 PM

The effect is growing higher and most countries are really shutting down their borders. However, I think this effect is not surprising, people are not sure of what will happen next and they can't invest. When there is no investment, no increase nor growth. On a bright side, I heard the US is really working hard for solution. We hope a good news comes up soon so that activities will start growing back.

Are you referring to the human trial vaccination here? There are a lot of companies that are racing to find the Covid vaccine. And whoever will release their vaccine commercially, for sure, they will get tons of money. So long they are effective, no prob. Let us hope that they will find one very soon, which will be available to everyone.

Gozie51

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The effect is growing higher and most countries are really shutting down their borders. However, I think this effect is not surprising, people are not sure of what will happen next and they can't invest. When there is no investment, no increase nor growth. On a bright side, I heard the US is really working hard for solution. We hope a good news comes up soon so that activities will start growing back.

princesspoppy

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The world economy will surely crash if this pandemic - COVID19 virus is to spread more in more countries around the world. Many businesses were forced to shutdown, workers are now working from home and school classes are already suspended, and this are all because of this pandemic. All we can do to help in stoping the spread is to follow the rules each government implented, to stay away from crowded places and to stay at home, and to keep sanitized. We should start with ourselves to help our economy to come back to its normal shape before this pandemic happened.

FlightyPouch

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Quote from: SUMBI99 on March 18, 2020, 04:13:01 PM

What are the suggestions on the world economy, if Covid 19 will continue to spread in other parts of the world as its impact also hit Bitcoin and Crypto In General, Your welcome?

Negative effects on the world economy are inevitable in this pandemic. Every country is affected and if we will be suggesting something about it, I think the best one is to follow the rules on quarantine to avoid being a casualty. More victims mean more casualty, more casualty means negative effect on the economy. And obviously it will not just stop at you if you are not taking care of yourself and following the instructions to be safe.

YuginKadoya

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Amidst the global pandemic problem, there is nothing to be done with the world economy it will surely have an effect on it that is very hard to really control but as the government is suggesting lives comes first that is why the lockdown had been implemented and much businesses including cryptocurrency will need to suffer a bit because of this because the only people that can operate and work are the health workers or health-related facilities, Military, Police, Media, and volunteers are the ones that are outside giving their best in preventing the quarantine that are implemented and right now many countries are in this kind of state,

So there is nothing we can do right now but to stop the virus from spreading that is the first thing first before implementing any economic related topics.

SUMBI99

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What are the suggestions on the world economy, if Covid 19 will continue to spread in other parts of the world as its impact also hit Bitcoin and Crypto In General, Your welcome?

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