Topic: Coronavirus/Covid 19 Impact on World Economy Hit Bitcoin (Read 249 times)
This virus totally affected our world economy because there are so many businesses that are being affected which results to falling, there are so many lives that are being affected, many workers are now temporarily unemployed, even cryptocurrency is decentralized it is also included as being affected by the virus because it reaches for the lowest price of 3,900$, luckily it is now around 6,000$ even though virus is still in our area. I am still hoping that this virus will gone soon because it is really destroying, many players and traders are being afraid so they take their investments and convert it on their fiat currency so they have money to use while crisis is still in our area.
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?
At first I am thinking about of encouraging people to use online payment because fiat can be one of so many ways to transmit virus. But on the other side, I think that it is quite impossible since government is too busy in other things. So I ended up to "just follow what the government has ordered". They will not command us to do such things if they think it is not for the good of all of us. In that case, we the community can stop spreading of the virus until they find what can be the cure to this virus in a shorter period of time. When everything is OK, their will be normal operation again and the so the rise of the economy.
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?
Well, governments takes taxes and they do spend it on other stuff normally when there is nothing like this going on.Think about it, there are money going to military, going to infrastructures, roads and basically many many things that are not "vital" in a situation like that, if you consider all of them they will take so much money of the governments treasury that they are actually not useful during a time like this, I understand why a government would want to invest into military and that makes sense but for now they can give a break to it and give them less money.
In return of this those taxes could be used for healthcare for now, they could actually afford to build hospitals with it, buy products, masks, sanitizers, pay factories to build them with as minimum people working as possible. Basically, using the taxes for ALL things they spend and just drop it %10 and move it to helping people out and keeping economy alive, that is the only way.
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?
We clearly see the negative impact of the coronavirus it the covid19 to the situation of the market right now as well as the situation of the cryptocurrency. I think the suggestions of the world economy was just wait until the pandemic coronavirus will end and I think that it is the best way to do right now so that we will be able to lessen the burden that our country was experiencing right now. Am I right? 
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 world economy is currently experiencing a big problem, which has an impact on Covid 19, uncontrolled world is currently crying with the tragedy that is happening.This also has an impact on the world's crypto including Bitcoin, because what is happening right now has an impact on the deaths that have been experienced by human beings in the world.
Logically, if the Covid 19 virus continues to spread to the wider community the economy will automatically be weak, the reasons for offices, private companies and government to close with billions of losses per day are not counted, people can not work and can not leave the house, automatically imports / exports are stuck people do not have income anymore.
The extraordinary impact of the Covid 19 virus on the world economy.
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.
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.
You've got a point here man, fiat money might also be infected with this virus so people might minimize holding such and transactions online might surge if cure will be delayed.
Almost all of the economy is affected not just Bitcoin. We have seen BTC price going down at the start of the crisis and also seen it's price going up as investors see the potential use of it while there is an onslaught of this disease. It's just a matter of individual perceptions on what he would do with his cryptos in times like this.
All investments are affected and I don't think there will one that can flee this virus' effect.
I don't think that it will affect bitcoin that much because these are digital currency we are talking about, the market will surely be affected but I hope that it will not cause a chain reaction that can cause an effect in cryptocurency industry.
Everything would be affected due to the global market crisis because people would have lost huge money in their stock market or their business would have slowed down. Now many would be requiring money and also panic mode is on in people so it could even effect the bitcoin and we have seen how it has fallen from 9k to 4k due to the panic time that COVID 19 has started effecting people across the world.
I don't think that it will affect bitcoin that much because these are digital currency we are talking about, the market will surely be affected but I hope that it will not cause a chain reaction that can cause an effect in cryptocurency industry.
I expect the same thing. only so far, there has not been a significant increase in the price of bitcoin and ethereum. Well, I expect a price increase in the near future, because halving might help for that in the midst of this crisis. however, until now the influence of the virus still continues. we will not know to what extent this will have an effect. 
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?
States are now urging people not to go out and work remotely if possible. In many states, everything related to no life support is closed. Only grocery stores, pharmacies and gas stations work. This means that the economy has stopped, and this will inevitably entail sharply negative consequences. Apparently, we cannot avoid the global economic crisis in the near future and, as many warn, it will be more serious than the 2008 crisis. 
I don't think that it will affect bitcoin that much because these are digital currency we are talking about, the market will surely be affected but I hope that it will not cause a chain reaction that can cause an effect in cryptocurency industry.
but as we know many people who prefer to hoard USD, we can see the effect on fiat currencies of other countries, even gold that had succeeded, became worse due to the many requests for USD. I think that although it doesn't have much effect on bitcoin, the corona effect certainly has an effect on the development of crypto
I don't think that it will affect bitcoin that much because these are digital currency we are talking about, the market will surely be affected but I hope that it will not cause a chain reaction that can cause an effect in cryptocurency industry.
The economy will survive the pandemic but, we won't know for how long. A lot of businesses and company are struggling because of what is happening around the globe, it affected vast number of establishments that rely on the demand from the consumers. Thus, for me, only time will tell if the economy around the globe would survive amidst the pandemic spreading across borders.
the infection are so far stopped on some country but still continue to others but i strongly believe that other countries will also recover too . the popular suggestions right now are taking care of your self and proper hygien is required like washing hands , wearing mask when going outside and many more .
they dont care what happen to bitcoin but only people that are already involved on bitcoin are the one that care the most . what can we do ? just do your thing , sell if you need but hodl if you like too .
they dont care what happen to bitcoin but only people that are already involved on bitcoin are the one that care the most . what can we do ? just do your thing , sell if you need but hodl if you like too .
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.
Crypto seems to be decoupling from the traditional markets during the initial 2008 crisis gold corrected initially and then surged after that so similar things can also happen just my view as the economy is heading into the recession which seems to be quite certain at this point in time.
For crypto even if it is not going up I don't think it will go down below $5000 and sustain there as the weekly average support is strong around that level and it has not had a sustained break since the inception of Bitcoin if that happens probably we gonna see much lower levels
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.
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.
You've got a point here man, fiat money might also be infected with this virus so people might minimize holding such and transactions online might surge if cure will be delayed.
Almost all of the economy is affected not just Bitcoin. We have seen BTC price going down at the start of the crisis and also seen it's price going up as investors see the potential use of it while there is an onslaught of this disease. It's just a matter of individual perceptions on what he would do with his cryptos in times like this.
The best advice is to continue to fight to eradicate the corona pandemic, we cannot improve the world economy if this pandemic continues to increase and they cannot just remain silent because after all, they must continue to try to find ways to make vaccines, drugs or anything that can eradicate coronavirus with fast because if not, at least this economy will be destroyed and of course it will have an impact on other assets and markets including bitcoin.
The whole world is now affected by the corona virus, so it's no surprise that an economic crisis occurs and bitcoin is affected. But if we
look at the cryptocurrency market today. Bitcoin has begun to recover, with prices returning to $ 6300. Therefore from with economic
crisis conditions in which some countries do lockdowns so that activities can only be done at the home each makes bitcoin becomes a
solution to get income. So in the near future bitcoin prices could rise dramatically.
look at the cryptocurrency market today. Bitcoin has begun to recover, with prices returning to $ 6300. Therefore from with economic
crisis conditions in which some countries do lockdowns so that activities can only be done at the home each makes bitcoin becomes a
solution to get income. So in the near future bitcoin prices could rise dramatically.
It's already impacted many many side on real life, many many place for hangout has been closed by government on my country,and of course that also impacted economy side.
Well,about impact for crypto world, as u see lately, everything drop to the deep,but well recovery seems happened quickly.
Well,about impact for crypto world, as u see lately, everything drop to the deep,but well recovery seems happened quickly.
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.
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.
Let's be positive about the vaccine and it shall be found out soon. Whilst, it's still on development process we'll see that the adoption for bitcoin will grow. I'm looking at the perspective of being optimistic rather than be negative at these times.
We must wait several weeks later after Corona virus have end will bitcoin back to normal price and going up or keep the same on lower price, we know many investor have the reason with bitcoin going down because of Corona virus right now happen with many countries.
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.
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.
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.
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.
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
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.
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 .
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 .
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.
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.
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.
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
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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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