Topic: COVID-19: Do not worry the market worry on people. (Read 826 times)

Quote from: alexsandria on March 31, 2020, 02:58:18 PM

As we all know bitcoin is starting falling, do you guys believe that COVID-19 affected this thing? I have read some threads that is somehow related on it and they keep telling that COVID-19 affected the market, they are really panic because the market is start falling and may affect their investments and trading transaction, which is not good for them. About this investing do not worry about that because you may still hold your money until it backs to pumping.

The thing is do not worry the market worry on people, there are so many affected people and areas about this COVID-19, there are a lot of suspended school classes for how many weeks, which is not good for all the students out there, there are a lot of affected workers, company workers, labors because of this virus, which can really affect our economy. Worry about people because if traders in this virtual world will be affected because of the virus then for sure our market will goes down.

I am really hoping that this virus would have a cure as soon as possible, this is really a serious thing,

The motivation and the confidence of the people affects the market, we are in a new environment, something we do not encounter before so people sell their share and go for fiat so they can buy their basic needs, because we have an uncertain times, something we never encounter before, but now the market is recovering and showing good signs.-

FlightyPouch

sr. member

Activity: 1638

Merit: 300

Yes that's right the covid19 is the virus which is affecting the market and it is normal. The thing that we need to be afraid off are those people who are worry so much and intent to sell all of thrir holdings because they are afraid that the value of their tokens or coins will eventually dumps so much.

This still depends on the person since you will not be able to push someone to keep on holding since what people need right now is fiat to be able for them to be safe and sound during the quarantine. It is their loss but it is better for them to take the loss rather than endangering their own lives.

Blackdeath

sr. member

Activity: 910

Merit: 261

★Bitvest.io★ Play Plinko or Invest!

Quote from: boyptc on April 04, 2020, 06:34:51 AM

Virus and its reaction to the markets has always been connected.

Realizing that bitcoin dropped and recovered, this wouldn't be a problem anymore. Be amazed how bitcoin recovered rapidly after it gave everyone a chance to buy at its dip.

It is really normal for bitcoin to make a sudden dump and improvement to it's price, so there's no need for us to panic when we are experiencing a bear market because bitcoin would really recover it's price again. Since there is a pandemic of corona virus, every country are experiencing a downfall because working days had stopped for a while, but we shouldn't be bother in our economy that we should be caring the safety of our people because they are the ones who will help our countries to make an improvement to our economy.

boyptc

hero member

Activity: 3024

Merit: 680

★Bitvest.io★ Play Plinko or Invest!

Virus and its reaction to the markets has always been connected.

Realizing that bitcoin dropped and recovered, this wouldn't be a problem anymore. Be amazed how bitcoin recovered rapidly after it gave everyone a chance to buy at its dip.

Janation

hero member

Activity: 1722

Merit: 528

Quote from: michellee on April 04, 2020, 05:21:29 AM

Quote from: KrisAlex18 on April 04, 2020, 03:46:59 AM

Well said mate, we cannot kill this virus because ost of the people do not obey the rules of the government and they keep going outside so the chance of spreading the risk of the virus will increase. If we will still disobey our governement and will do the things we want without caring thw virus then for sure the virus won't stop spreading. If this things happen our economy will fall and it will be so hard for us to recover because this virus will really have a big negative impact to us.

Let us all help each other, do not go outside,just stay at home, let us coordinate to our government and kill the virus by staying at home.

That is true. Some people still go out, and we don't know what they do. I wish that they know that is not making a better, but it makes the situation worst because they can get infected. Well, I hope that they can save themselves before the virus attack them. We need to have an awareness of the current situations by staying at homes and let the professionals work and save other people. We can help them by not making another problem which will make them busy.

They have something to do in this pandemic and it isore important to be honest.

I know that it is bad for people to go out so they just need to follow the quarantine rules to be safe but the thing about this is that they don't have enough money to be idle in their houses. They have families to feed and children to raise, some people are having a hard time to save money with prioritizing their essentials this pandemic.

michellee

hero member

Activity: 2604

Merit: 816

🐺Spinarium.com🐺 - iGaming casino

Quote from: KrisAlex18 on April 04, 2020, 03:46:59 AM

Well said mate, we cannot kill this virus because ost of the people do not obey the rules of the government and they keep going outside so the chance of spreading the risk of the virus will increase. If we will still disobey our governement and will do the things we want without caring thw virus then for sure the virus won't stop spreading. If this things happen our economy will fall and it will be so hard for us to recover because this virus will really have a big negative impact to us.

Let us all help each other, do not go outside,just stay at home, let us coordinate to our government and kill the virus by staying at home.

That is true. Some people still go out, and we don't know what they do. I wish that they know that is not making a better, but it makes the situation worst because they can get infected. Well, I hope that they can save themselves before the virus attack them. We need to have an awareness of the current situations by staying at homes and let the professionals work and save other people. We can help them by not making another problem which will make them busy.

KrisAlex18

full member

Activity: 742

Merit: 160

Well said mate, we cannot kill this virus because ost of the people do not obey the rules of the government and they keep going outside so the chance of spreading the risk of the virus will increase. If we will still disobey our governement and will do the things we want without caring thw virus then for sure the virus won't stop spreading. If this things happen our economy will fall and it will be so hard for us to recover because this virus will really have a big negative impact to us.

Let us all help each other, do not go outside,just stay at home, let us coordinate to our government and kill the virus by staying at home.

Magkirap

sr. member

Activity: 896

Merit: 267

★Bitvest.io★ Play Plinko or Invest!

Quote from: verita1 on April 03, 2020, 10:58:14 PM

Covid19 is a serious thing and we won't have a vaccine anytime soon.
The miracle of God through science is what will bring us back to normal. I do not imagine that we have to live all the time in fear of a silent enemy such as the Coronavirus Covid19. Many lives have been affected. The economy has partially stopped because we are at home to avoid being infected by the virus.

Well as of now there is a vaccine that is quite promising treatment for the virus and i hope that it will be approved and be used asap because if this crisis continues then it will really leave massive damage until the virus is defeated, economy of multiple countries will fall especially those countries with highest confirmed cases of the virus, which results to people experiencing panic because crypto's market might go worse than it is now, lots of peopl's investment also ruined by the virus because some don't have enough money in their pockets right now so crypto is their one of last options but health always comes first so investment won't matter. I hope we'll see some light soon to this crisis.

verita1

member

Activity: 1358

Merit: 81

Covid19 is a serious thing and we won't have a vaccine anytime soon.
The miracle of God through science is what will bring us back to normal. I do not imagine that we have to live all the time in fear of a silent enemy such as the Coronavirus Covid19. Many lives have been affected. The economy has partially stopped because we are at home to avoid being infected by the virus.

fabiorem

sr. member

Activity: 1400

Merit: 347

Lets save lives by shutting down industry, commerce, everything, and increase unemployment by 2000%.
Lets save lives by printing ten gazillion dollars!

Food shortage and children starving is saving lives! It was all the fault of THE VIRUS.

gorge441

jr. member

Activity: 38

Merit: 3

I predict the market will increase soon.

Kasabus

hero member

Activity: 2814

Merit: 576

Quote from: Genemind on April 01, 2020, 11:55:56 AM

I didn't know that this pandemic would affect and hit the global economy this hard. European countries are the most affected ones and we can't say that it won't affect the market itself. Most bigtime holders are now doing panic selling due to their fear that crypto situation might also get worse. Even smallholders are doing the same thing just to survive this crisis. I have realized that this pandemic would leave no exception so lucky are those who have saved something for their future.

This pandemic virus is greatly affecting the lives of the people losing their jobs and staying at homes with an empty stomachs. This is really a big threat to the people but when it comes to crypto market, i don't think it affects that much compared to physical businesses that are closed right now and losing their supposed income.

Genemind

sr. member

Activity: 1596

Merit: 335

I didn't know that this pandemic would affect and hit the global economy this hard. European countries are the most affected ones and we can't say that it won't affect the market itself. Most bigtime holders are now doing panic selling due to their fear that crypto situation might also get worse. Even smallholders are doing the same thing just to survive this crisis. I have realized that this pandemic would leave no exception so lucky are those who have saved something for their future.

CarnagexD

sr. member

Activity: 1498

Merit: 374

Leading Crypto Sports Betting & Casino Platform

Quote from: Wintersoldier on April 01, 2020, 11:01:28 AM

Quote from: cutesgirl on April 01, 2020, 09:38:08 AM

Covid 19 make bigger countries like United State, Spain, Itlay and China down and their economic got cirisis, today after China have working recovery their corona virus now moving to United State where thousand people have been got corona virus and now Italy become most terrible country faced crisis.

In the US trumps already orders to go back to work in April 12 because their economy is starting to go down since there were lockdowns in their country, so i think there will be government in other countries who will follows trumps orders because not only the US who are experience the downfall of their economy.

On that argument even you want to take back to your work you can't. because there are still a virus, they want to back again into their business in April 12 and still there is a virus spreading around so if you want to become wealth the economy secure the people first because the economy will not survive if all the people cannot go up to their bed because they are already infected still we need to consider our workers and people to become safe we cannot blame them they are scared too even they want to make earnings and bring back the economy to normal, it is just temporary so better to wait and hold back than risk your self just to earn money.

Wintersoldier

sr. member

Activity: 966

Merit: 274

Quote from: cutesgirl on April 01, 2020, 09:38:08 AM

Covid 19 make bigger countries like United State, Spain, Itlay and China down and their economic got cirisis, today after China have working recovery their corona virus now moving to United State where thousand people have been got corona virus and now Italy become most terrible country faced crisis.

In the US trumps already orders to go back to work in April 12 because their economy is starting to go down since there were lockdowns in their country, so i think there will be government in other countries who will follows trumps orders because not only the US who are experience the downfall of their economy.

cutesgirl

sr. member

Activity: 938

Merit: 251

Covid 19 make bigger countries like United State, Spain, Itlay and China down and their economic got cirisis, today after China have working recovery their corona virus now moving to United State where thousand people have been got corona virus and now Italy become most terrible country faced crisis.

pragna

full member

Activity: 1582

Merit: 101

Quote from: stomachgrowls on March 11, 2020, 08:55:55 AM

As we all know bitcoin is starting falling, do you guys believe that COVID-19 affected this thing? I have read some threads that is somehow related on it and they keep telling that COVID-19 affected the market, they are really panic because the market is start falling and may affect their investments and trading transaction, which is not good for them. About this investing do not worry about that because you may still hold your money until it backs to pumping.

The thing is do not worry the market worry on people, there are so many affected people and areas about this COVID-19, there are a lot of suspended school classes for how many weeks, which is not good for all the students out there, there are a lot of affected workers, company workers, labors because of this virus, which can really affect our economy. Worry about people because if traders in this virtual world will be affected because of the virus then for sure our market will goes down.

I am really hoping that this virus would have a cure as soon as possible, this is really a serious thing,

Yes, you are right here. At present time people are more anxious about their life so in this time market is not a big factor. Market may falling down because of less transaction and for critical situation. No matter, hope it will recover one day but life is very important at this time. So everybody keep safe at home and wait for better days.

panganib999

hero member

Activity: 1750

Merit: 589

Quote from: Gozie51 on March 11, 2020, 06:44:10 AM

Quote from: Darker45 on March 10, 2020, 11:05:13 PM

The direct effects are the closed shops, factories, stores, hotels, tourist attractions and so on; cancelled flights and ship travels; draining of stocks for selling; and so many other effects. All this will certainly hit the people hard.

This is now worrisome. The effect is now deprive people of fun and normal living. In sports now, so many games have been cancelled and some played without fans coming to watch.
Some countries too I have read are burning their fiat because of presumed contact. I hope the world would soon go pass this health challenge.

In my lifetime, this is the first time i do experience where a kind of virus did really give big effect worldwide where it do already comes to a point where it affects traditional operation and hobbies etc.

This is indeed a worrisome thing if this wont be still resolved in more months then we can expect a further or severe situations compared on what we have seen at the moment.

Im not really concerning into market or economic situations and i agree into on op's points that we should be worry on humanities situation.

Same, this is my first experience to know virus like this. COVID-19 is indeed dangerous and cause of many people's death especially elders with weak immune system. Well, the economic market we have are close to collapse but we are not yet there we can still survive. Most of the scientists and researchers are now formulating some vaccines or test kits for patients that are confirmed holder of the virus. Hoping that everyone of us will survive this crisis soon. Also, it is tough to not notice the sudden drop of the market but we know that maybe after this quarantine everything will be back to it's normal situation like before. For now, let's just focus on the people and let's focus on our family's safety. For the meantime, let's help our country to heal by staying at home, and be updated to government's advisories, also just have patience until this market to be fix again.

hahay

legendary

Activity: 3486

Merit: 1055

Leading Crypto Sports Betting & Casino Platform

It's hard not to panic when this pandemic continues to increase every day and we cannot assume this problem is a small problem, so I think it's natural that there is a panic that happened but over time at least, many efforts have been made and also the market has recovered slightly and with so, then the panic will be minimized because of good self-awareness and although panic occurs at the beginning, but at least it does not have to make us sell all the assets we have because after all the change will definitely happen and be patient.

Stedsm

legendary

Activity: 3052

Merit: 1273

Coronavirus is getting recovered in many cases and will get abolished if we all try and maintain safe distances from people who are infected. I don't think BTC plummeted due to Corona but it looks like bears needed a reason to dump it and so was the right time to do that. Rest was history and what we're seeing nowadays is totally different. You are correct in your point that we need to take care of everyone rather than getting stressed about the markets because these times will clear in near future and markets will stabilize and pump back, but those who lose their lives due to this virus won't be back.

lienfaye

hero member

Activity: 3010

Merit: 629

The virus has a huge impact in our economy. Establishments are closed and we have to stop working (without pay) to not get infected so people are just counting for the relief goods given by the local government but its not enough. You dont get any problem if you have savings but to those who dont have this situation is really hard. Im not surprise when the market turns bearish because of the investors worrying for their investment so they panic sell and those who chose to give up their assets to have cash to spend for their daily needs.

alexsandria

sr. member

Activity: 896

Merit: 268

★777Coin.com★ Fun BTC Casino!

Yes that's right the covid19 is the virus which is affecting the market and it is normal. The thing that we need to be afraid off are those people who are worry so much and intent to sell all of thrir holdings because they are afraid that the value of their tokens or coins will eventually dumps so much.

travwill

sr. member

Activity: 1313

Merit: 278

According to coinbase:

So what happened here?

The reasons behind the Bitcoin crash were similar. Some short term speculators sold, some institutions required cash for margin calls elsewhere, and some leveraged positions were forced to close. But it dropped harder and faster for Bitcoin than traditional markets for one central reason: the size and scope of leverage in the Bitcoin industry.

Traditional equities markets limit the amount of leverage to ~2–3x. In contrast, Bitcoin has some offshore exchanges that offer 100x+ leverage, where $1 of Bitcoin could be used as collateral to back $100 in purchasing power. To be fair, this is very risky — a position leveraged to 100x would get force-closed if the market moved just ~1% against you. So most traders hold positions at a more sensible 5–30x leverage, but still notably
higher than 2–3x.

https://blog.coinbase.com/on-crypto-markets-and-bitcoins-value-proposition-2fbbca5349dd

cutesgirl

sr. member

Activity: 938

Merit: 251

Covid 19 make market worried with lower price and many people panic for selling coin with lower price, this bigger virus in the world because many people have pass away and a lot of them keep stay at home by this virus, when many people do not get income will sell bitcoin and altcoin although lower price.

travwill

sr. member

Activity: 1313

Merit: 278

Quote from: dioanna on March 10, 2020, 09:50:34 AM

It is recession fear. Why? Because in last 100 years recession on average come in about every 8 years. Now already 12 years passed from last one. A lot of things already happens last year to predict recession. Now with world economy going on halt on many parts of world recession is very possible.

It seems that the epidemic has revealed the world problems that we have at the moment.
I can’t say that it is the virus that causes the global recession, but it definitely served as a catalyst. I wonder how long it will last and how countries will get out of such a predicament.

arrmia11

member

Activity: 406

Merit: 13

Actually I haven't look at exchangers nowadays, my attention is on the current situation here in our country about the virus.
We really can't help but worry coz it is getting serious.

Yes you are right we are in the same situation, all people here are so worried about the corona virus because its getting serious, they worried too about their families especially if they are poor, they can't stock food or medicines in this kind of serious situation, because all the cities here are been locked down

Kurokonobasuke

full member

Activity: 546

Merit: 122

★777Coin.com★ Fun BTC Casino!

We all know that when the COVID-19 starts and spreads over the world many people are get infected so that many those countries are in lock down to prevent the virus on spreading it, and we cannot avoid the market to fell because of many business are shutdown temporarily. But don't worry about the market because it will not last and soon it will recover, as I said it was temporary and not permanently we need to think our healthy first before anything because when we get sick it was so difficult but in market it was so easy to recover again when we get back to our normal lives.

travwill

sr. member

Activity: 1313

Merit: 278

It is recession fear. Why? Because in last 100 years recession on average come in about every 8 years. Now already 12 years passed from last one. A lot of things already happens last year to predict recession. Now with world economy going on halt on many parts of world recession is very possible.

It seems that the epidemic has revealed the world problems that we have at the moment.
I can’t say that it is the virus that causes the global recession, but it definitely served as a catalyst. I wonder how long it will last and how countries will get out of such a predicament.

FanatMonet

hero member

Activity: 742

Merit: 507

It is recession fear. Why? Because in last 100 years recession on average come in about every 8 years. Now already 12 years passed from last one. A lot of things already happens last year to predict recession. Now with world economy going on halt on many parts of world recession is very possible.

Signs of a recession were looming even before the coronavirus, falling oil prices and the subsequent collapse of exchange-traded assets. The economy is designed in such a way that it cannot constantly grow; after growth, there must be a serious decline, without this, nowhere. And all this is cyclical.

julius caesar

full member

Activity: 644

Merit: 127

★Bitvest.io★ Play Plinko or Invest!

It is recession fear. Why? Because in last 100 years recession on average come in about every 8 years. Now already 12 years passed from last one. A lot of things already happens last year to predict recession. Now with world economy going on halt on many parts of world recession is very possible.

People as of now is worried about what is happening because of the COVID-19. Thus affects the market price since they need to close the peer to peer transaction to avoid the transmission of the said virus. They chose to have a downfall in the economy rather than sacrificing the health safety of their people inside their country.

yanto@1977

full member

Activity: 686

Merit: 100

★Bitvest.io★ Play Plinko or Invest!

Quote from: bitcoinst on March 15, 2020, 11:54:00 AM

I am really hoping that this virus would have a cure as soon as possible, this is really a serious thing,

This is what we hope, Corona will pass away and our economy circulation can running again. I agree worry about people but in real life we can say if people don't have money how they can get medicine and treatment?. Our government help their citizen but we can see the quality and quantity is not enough. Real action is changes our life style in healthy mode, if someone suspicious Corona give them help, take into hospital for next medication.

thesmallgod

full member

Activity: 1498

Merit: 129

I strongly believe it is partly due to panic sell and also the whales have hands in it. According to statistics regarding the spread of the disease, the Europe has been termed as being at the center of the ravaging disease and this is important because large numbers of people hodling crypto are based in Europe. crypto hodlers in such countries such as Italy might have make panic sell of their asset

khunyung

newbie

Activity: 31

Merit: 0

Believe the spread of the virus around the world has just begun. I don’t know if the cryptocurrency will continue to fall in the near future,
but I’m sure that all major markets will fall by another 10-20% due to the limited communication between countries and quarantine within most countries in particular.

I don't see those 10%, it may fall at best 5% and will climb around. I've seen a lot of news about billions being liquidated into the market by several big corporations

bitcoinst

hero member

Activity: 1708

Merit: 651

SmartFi - EARN, LEND & TRADE

Believe the spread of the virus around the world has just begun. I don’t know if the cryptocurrency will continue to fall in the near future,
but I’m sure that all major markets will fall by another 10-20% due to the limited communication between countries and quarantine within most countries in particular.

bitgolden

legendary

Activity: 2996

Merit: 1132

Leading Crypto Sports Betting & Casino Platform

Well, the truth is that naturally you will worry about everything, it’s in human nature to be worried about almost everything lol. And another thing that will make you worried about your investment is when you don’t have enough to sustain you. There are people who just save money in their cryptocurrency wallet with hope that will withdraw it later and that the price will go up, and when it’s not going as they expected they will get worried.

Being worried about your investment in this market doesn’t mean that you’re not worried about people that are being affected by the virus. And moreover there isn’t much you can do about it, than just worry or find an organization that is set out to take care of the issue and support them financially through your donations, that’s the best you can do man.

criza

full member

Activity: 574

Merit: 108

It is true, lives of other people are more important than the standing of Bitcoin in the market. We should consider to help other people that are affected by the virus in our own ways, big or small it doesn't matter, what important is your heart to help the needy.

As the virus became a pandemic, the standing of Bitcoin also goes into a dump but, we should not see this as a threat or in a negative way but, as an opportunity to invest and hold Bitcoin till the upcoming halving event. The way we view things is important because, it would be a great factor on how we make our decisions.

michellee

hero member

Activity: 2604

Merit: 816

🐺Spinarium.com🐺 - iGaming casino

Quote from: johnyj on March 14, 2020, 05:59:14 PM

No need to panic, I'm in China right now, it basically has no new infected patients in most of the province now, and most of the business has been starting. However, there are travel restrictions between cities and especially continental now, and many companies in western depends on chinese delivery, this could bring them some trouble. But anyway, goods transportation has not stopped

That is great news. But we need to wait for a while until the recovery process is finished so we will see every business in that country can work as usual. However, I think in the other country, the virus still becomes the hot news because I see much news about people being infected by the virus, and they still in the isolation room for a while until they can get a cure. Maybe we should not worry about the market and the people who got infected because the market will be like that, and the government will handle people, and the virus will not be a problem anymore soon.

sunsilk

hero member

Activity: 3038

Merit: 634

Quote from: Xampeuu on March 14, 2020, 12:25:31 PM

Quote from: sunsilk on March 14, 2020, 08:31:10 AM

Holding is my option in this hard times and I think I'll only sell if I don't have funds left anymore. But as long as I can endure this very unfortunate situation that we're all facing, I'll hold.

As for the recovery, I've just read it on the news that many have recovered so I thought of there must be some antidote and cure that has been made but as you have mentioned, it still depends to the defense mechansm of the affected person's immune system.

same with me. as long as I can survive, then I'm not worried about this decline, because this is only a cycle, which affects market movements. when all the scientists of the world are experimenting to find the antidote, then this vaccine will soon be found, on the other hand the change of the season is only 2 months away, at that time usually the virus will die by itself, and everything will return to normal

Let's hope so that the climate will help for some countries but to the affected with very cold climate, they will take time to recover. Everyone is badly affected but I agree to this guy above that there's no need to panic.

The market doesn't shape well but it will be perfect again when all the markets and businesses that have been affected starts getting back in business again. I wish that after a month or two this will be solved.

johnyj

legendary

Activity: 1988

Merit: 1012

Beyond Imagination

Quote from: abhiseshakana on March 14, 2020, 01:03:33 PM

Quote from: redsun114 on March 14, 2020, 09:54:37 AM

What really I am wondering is, if enough people die, does that make money more valuable or more scarce? I mean yes there has been only few thousand people dead and the considering 20k+ people die from cancer every day it is really not a big deal about corona and so forth.

However, let's assume 1 billion people dies all of a sudden, some earth shattering thing happens and corona keeps evolving to a point where it is quite unstoppable until something happens but it is too late and 1 billion people are dead. Would that means we would have inflation because the leftovers from that 1 billion people will be spread around the other 6-7 billion and we would basically all have more money hence inflation? Or would it be bad because work force would have less people and harder to produce stuff so everything is still valuable?

If the number of victims is one billion, then surely the number of victims who suffer more. If it is caused by a corona outbreak, if one billion people die, then about 30 billion people will be infected (assuming the mortality rate about 3.4%), meaning that everyone in the world will be infected with the coronavirus. If this happens then the economy will be paralyzed or stopped and surely chaos will occur.

Have a wish, if only 1 billion people died then, there would be inflation. But inflation was not triggered because of the amount of money in circulation but due to increased demand and rising production costs. Scarcity occurs in the production or distribution of goods so that the price of goods rises. The reduced production or distribution of goods is caused by an increase in the cost of producing goods. Increased costs can be caused by the following factors:

- Increased wages, due to labor shortages
- Increased raw material prices due to disrupted production and stunted distribution
- Increase in prices of imported goods because the global supply chain is broken

No need to panic, I'm in China right now, it basically has no new infected patients in most of the province now, and most of the business has been starting. However, there are travel restrictions between cities and especially continental now, and many companies in western depends on chinese delivery, this could bring them some trouble. But anyway, goods transportation has not stopped

pixie85

hero member

Activity: 2184

Merit: 531

Quote from: cazkooo on March 14, 2020, 01:37:05 PM

Darn shit, I wouldnt imagine that I billion people died. If it could stay below 100k casualty than that would be massive win for humanity. There will be alot more shit that would happen if 1 billion people actually died.

1 billion people is like 1/8 of the whole world population. If you watch the avenger movie, half population got wiped and you could see the how the world turn into some kind of shit

It's already a loss for mankind.

One nation was developping a bioweapon that got released somehow and is now threatening the whole world yet the world isn't even trying to come to the bottom of this and make the people responsible for this disaster pay. They're acting like it came from space.

The panic is not even adequate to the danger the virus presents. With 2% mortality rate it's not going to do much more than a normal flu. If you're afraid just stay at home. You can't get it from air, you have to come in contact with a sick person or something that person touched not long ago.

cazkooo

legendary

Activity: 1540

Merit: 1013

Quote from: abhiseshakana on March 14, 2020, 01:03:33 PM

Have a wish, if only 1 billion people died then, there would be inflation. But inflation was not triggered because of the amount of money in circulation but due to increased demand and rising production costs. Scarcity occurs in the production or distribution of goods so that the price of goods rises. The reduced production or distribution of goods is caused by an increase in the cost of producing goods. Increased costs can be caused by the following factors:

- Increased wages, due to labor shortages
- Increased raw material prices due to disrupted production and stunted distribution
- Increase in prices of imported goods because the global supply chain is broken

Darn shit, I wouldnt imagine that I billion people died. If it could stay below 100k casualty than that would be massive win for humanity. There will be alot more shit that would happen if 1 billion people actually died.

1 billion people is like 1/8 of the whole world population. If you watch the avenger movie, half population got wiped and you could see the how the world turn into some kind of shit

abhiseshakana

legendary

Activity: 2254

Merit: 2253

From Zero to 2 times Self-Made Legendary

Quote from: redsun114 on March 14, 2020, 09:54:37 AM

What really I am wondering is, if enough people die, does that make money more valuable or more scarce? I mean yes there has been only few thousand people dead and the considering 20k+ people die from cancer every day it is really not a big deal about corona and so forth.

However, let's assume 1 billion people dies all of a sudden, some earth shattering thing happens and corona keeps evolving to a point where it is quite unstoppable until something happens but it is too late and 1 billion people are dead. Would that means we would have inflation because the leftovers from that 1 billion people will be spread around the other 6-7 billion and we would basically all have more money hence inflation? Or would it be bad because work force would have less people and harder to produce stuff so everything is still valuable?

If the number of victims is one billion, then surely the number of victims who suffer more. If it is caused by a corona outbreak, if one billion people die, then about 30 billion people will be infected (assuming the mortality rate about 3.4%), meaning that everyone in the world will be infected with the coronavirus. If this happens then the economy will be paralyzed or stopped and surely chaos will occur.

Have a wish, if only 1 billion people died then, there would be inflation. But inflation was not triggered because of the amount of money in circulation but due to increased demand and rising production costs. Scarcity occurs in the production or distribution of goods so that the price of goods rises. The reduced production or distribution of goods is caused by an increase in the cost of producing goods. Increased costs can be caused by the following factors:

- Increased wages, due to labor shortages
- Increased raw material prices due to disrupted production and stunted distribution
- Increase in prices of imported goods because the global supply chain is broken

Xampeuu

full member

Activity: 1442

Merit: 116

Enterapp Pre-Sale Live - bit.ly/3UrMCWI

Quote from: sunsilk on March 14, 2020, 08:31:10 AM

Quote from: AlecMe on March 13, 2020, 01:37:07 AM

Quote from: AlecMe on March 13, 2020, 01:37:07 AM

If you sell, you lose but if you hold, you can retain back the past value of the amount of bitcoin you hold. It's a choice that you must choose wisely, keep and wait until the dust settles and covid becomes treatable so that there will be no longer panic from the market from different sides of the market.

The news says that there's a huge percentage of affected people that has been cured and recovered so there's a cure and antidote that has been made and applied to the affected people. The health sector is doing their best to fight this pandemic.

This came as standard instruction where I am :

Code:

There is currently no specific treatment for coronavirus.

Antibiotics do not help, as they do not work against viruses.

Treatment aims to relieve the symptoms while your body fights the illness.

You'll need to stay in isolation away from other people until you've recovered.

Just like a cold or flu, this has to be fought by the body. I am not sure about what antidote you talk about?! TBH the only deaths so far are people with pre-existing illnesses and especially elderly.

Regarding BTC, this would be the worst time to sell, unless you bought cheaper that this a while back.

If you have money to survive this unfortunate event (spare food, being safe, etc), in my humble personal opinion, you should not sell.

At the end of the day though, you know what is best for you and your money. Here lies the difference, BTC is different as it is all entirely up to you with what and when it means and values to you (when correlating to cash $,£, etc)

Holding is my option in this hard times and I think I'll only sell if I don't have funds left anymore. But as long as I can endure this very unfortunate situation that we're all facing, I'll hold.

As for the recovery, I've just read it on the news that many have recovered so I thought of there must be some antidote and cure that has been made but as you have mentioned, it still depends to the defense mechansm of the affected person's immune system.

same with me. as long as I can survive, then I'm not worried about this decline, because this is only a cycle, which affects market movements. when all the scientists of the world are experimenting to find the antidote, then this vaccine will soon be found, on the other hand the change of the season is only 2 months away, at that time usually the virus will die by itself, and everything will return to normal

redsun114

hero member

Activity: 2730

Merit: 585

Leading Crypto Sports Betting & Casino Platform

What really I am wondering is, if enough people die, does that make money more valuable or more scarce? I mean yes there has been only few thousand people dead and the considering 20k+ people die from cancer every day it is really not a big deal about corona and so forth.

However, let's assume 1 billion people dies all of a sudden, some earth shattering thing happens and corona keeps evolving to a point where it is quite unstoppable until something happens but it is too late and 1 billion people are dead. Would that means we would have inflation because the leftovers from that 1 billion people will be spread around the other 6-7 billion and we would basically all have more money hence inflation? Or would it be bad because work force would have less people and harder to produce stuff so everything is still valuable?

sunsilk

hero member

Activity: 3038

Merit: 634

If you sell, you lose but if you hold, you can retain back the past value of the amount of bitcoin you hold. It's a choice that you must choose wisely, keep and wait until the dust settles and covid becomes treatable so that there will be no longer panic from the market from different sides of the market.

The news says that there's a huge percentage of affected people that has been cured and recovered so there's a cure and antidote that has been made and applied to the affected people. The health sector is doing their best to fight this pandemic.

This came as standard instruction where I am :

Code:

There is currently no specific treatment for coronavirus.

Antibiotics do not help, as they do not work against viruses.

Treatment aims to relieve the symptoms while your body fights the illness.

You'll need to stay in isolation away from other people until you've recovered.

Just like a cold or flu, this has to be fought by the body. I am not sure about what antidote you talk about?! TBH the only deaths so far are people with pre-existing illnesses and especially elderly.

Regarding BTC, this would be the worst time to sell, unless you bought cheaper that this a while back.

If you have money to survive this unfortunate event (spare food, being safe, etc), in my humble personal opinion, you should not sell.

At the end of the day though, you know what is best for you and your money. Here lies the difference, BTC is different as it is all entirely up to you with what and when it means and values to you (when correlating to cash $,£, etc)

Holding is my option in this hard times and I think I'll only sell if I don't have funds left anymore. But as long as I can endure this very unfortunate situation that we're all facing, I'll hold.

As for the recovery, I've just read it on the news that many have recovered so I thought of there must be some antidote and cure that has been made but as you have mentioned, it still depends to the defense mechansm of the affected person's immune system.

TheGreatPython

sr. member

Activity: 2660

Merit: 339

Some people are saying that they were expecting the price to go up when the Coronavirus outbreak started Undecided

like, how the heck are you expecting Bitcoin to go up? Adoption? Sorry you’re all wrong. I know for sure that if Coronavirus was going to have any impact on Bitcoin is going to be a decrease in price and that’s it, and even the stocks market were affected, except gold that kept increasing since beginning of this year, though it did fall back a little bit recently.

The reason I wasn’t expecting an adoption is because I knew that if people would need a contactless payment (technology payment) they would go for others like PayPal, since there isn’t much places where Bitcoin is being accepted. But this is not going to be for long, things will get better.

elisabetheva

full member

Activity: 1708

Merit: 105

If you sell, you lose but if you hold, you can retain back the past value of the amount of bitcoin you hold. It's a choice that you must choose wisely, keep and wait until the dust settles and covid becomes treatable so that there will be no longer panic from the market from different sides of the market.

agree, in a situation that is not good it is wise to hold back first, because turnover is very fast and can just be impatient will only bring harm. It must be remembered that all can change at any time and only need the right analysis you can do.

The news says that there's a huge percentage of affected people that has been cured and recovered so there's a cure and antidote that has been made and applied to the affected people. The health sector is doing their best to fight this pandemic.

AlecMe

full member

Activity: 392

Merit: 159

Quote from: Twinkledoe on March 10, 2020, 06:39:14 PM

If you sell, you lose but if you hold, you can retain back the past value of the amount of bitcoin you hold. It's a choice that you must choose wisely, keep and wait until the dust settles and covid becomes treatable so that there will be no longer panic from the market from different sides of the market.

The news says that there's a huge percentage of affected people that has been cured and recovered so there's a cure and antidote that has been made and applied to the affected people. The health sector is doing their best to fight this pandemic.

This came as standard instruction where I am :

Code:

There is currently no specific treatment for coronavirus.

Antibiotics do not help, as they do not work against viruses.

Treatment aims to relieve the symptoms while your body fights the illness.

You'll need to stay in isolation away from other people until you've recovered.

Just like a cold or flu, this has to be fought by the body. I am not sure about what antidote you talk about?! TBH the only deaths so far are people with pre-existing illnesses and especially elderly.

Regarding BTC, this would be the worst time to sell, unless you bought cheaper that this a while back.

If you have money to survive this unfortunate event (spare food, being safe, etc), in my humble personal opinion, you should not sell.

At the end of the day though, you know what is best for you and your money. Here lies the difference, BTC is different as it is all entirely up to you with what and when it means and values to you (when correlating to cash $,£, etc)

AniviaBtc

sr. member

Activity: 1120

Merit: 272

First 100% Liquid Stablecoin Backed by Gold

Quote from: kawetsriyanto on March 10, 2020, 06:31:39 PM

Quote from: johnyj on March 12, 2020, 12:36:39 PM

Not sure this corona virus or COVID-19 really affected the collapse of the crypto market, because this market works online

Indeed. Crypto market works online and it should be no problem with the coronavirus. I agree that it won't bring significant impacts to the trends on crypto market. But it probably has an impact if many crypto traders or investors get infected by the virus. It will make them not active in crypto market temporarily or forever. I assume people who said that coronavirus affects crypto market in this way.

We can consider also those miners or mining farm with high percentage located in China. So if these mining farms will be temporarily shut down because the government told them so, I think it will have an impact in bitcoin's price. Also, those manufacturers of mining equipment and gadgets are subjected to this temporary shutdown. And the shipping around the globe will stop for a while to combat the spread of this virus. Though online transactions will not be affected but other factors in bitcoin-related activities are suffering.

One more thing, blockchain conferences are also affected by this. So we are expecting them to cancel such crypto gatherings and this is bad for those projects that wanted exposure in the blockchain community to get potential investors.

All we have to do is to protect those miners or farm that isn't located in China but those who are in a places that is not yet infected by the virus. In Czech Republic and Iceland, they are far from the countries affected by the virus, so we still have hope to help our bitcoin miners to become safe and healthy from the covid-19. It is hard to see that bitcoin will continuously have a downward movement in the market if that happens. I don't believe that online transactions are not affected, there are some factors that needs to consider. Internet connection in some countries aren't stable, some apps are shutdown, some people are under investigation and need to be scanned. If they are quarantined, they will have a limited time to use their gadgets in accessing their crypto, and the volume in the market will surely decrease over time.

sunsilk

hero member

Activity: 3038

Merit: 634

If you sell, you lose but if you hold, you can retain back the past value of the amount of bitcoin you hold. It's a choice that you must choose wisely, keep and wait until the dust settles and covid becomes treatable so that there will be no longer panic from the market from different sides of the market.

The news says that there's a huge percentage of affected people that has been cured and recovered so there's a cure and antidote that has been made and applied to the affected people. The health sector is doing their best to fight this pandemic.

TravelMug

hero member

Activity: 2632

Merit: 833

Quote from: plast555 on March 12, 2020, 11:40:25 AM

We as the crypto community treats BTC as digital gold so whenever there is a recession or uncertainty in the economy the money will flow into the gold from stocks all the stock market in the world is falling because of the coronavirus expecting a slowdown or recession in the world economy that the reason gold has also increased a lot in the recent times but unfortunately there is a correlation between the S$P 500 and BTC price movements as the Bitmex CEO already mentioned about that so it is causing the crash in BTC too as per them but don't know why because it should benefit rather than affecting. This has been explained in the below video who is a good YouTuber

https://www.youtube.com/watch?v=UsCOwLuzv0E

Even the gold crashed hard today. So it seems everything is sold for fiat money, which we consider it a scam. That's how average Joe's mentality is. But in a total lockdown status, you can not even go out and sell your gold, so it becomes reasonable that gold also crashed. Anyway, if everyone were forced to stay at home, I see more activities in cryptocurrency area

It will have a domino effect, shortage of goods, because the producer has halted their production, or produce is not coming because of the lockdown, it's really scary because everyone is affected in a global scale.

When we thought that bitcoin is a good hedge, we are all wrong, not even gold or traditional market is, everyone wanted cash at this point, but the problem is where can you used your cash when there is not enough goods to buy with?

fiulpro

hero member

Activity: 1890

Merit: 831

Quote from: Ucy on March 10, 2020, 09:19:07 AM

Well, our market don't have to go down. If we build a good decentralized system, we won't go through what others are going through except when we come out to help those in need. Building a great decentralized network will also help save alot of people that ordinarily would've been lost to dependance on typical centralized systems. So I prefer to be very committed in decentralized crypto project/projects.
We still have some time to do things right.

Burning cash ?
People loosing jobs and government loosing control
People going into quarantine
Government using large amount of money to help the patients
Society crumbling and all the panic buying is making people loose their money and they are selling stuff to survive since jobs are not viable enough because public places are supposed to be avoided.
It is indeed a situation where the economy will go down I believe.

johnyj

legendary

Activity: 1988

Merit: 1012

Beyond Imagination

Quote from: plast555 on March 12, 2020, 11:40:25 AM

We as the crypto community treats BTC as digital gold so whenever there is a recession or uncertainty in the economy the money will flow into the gold from stocks all the stock market in the world is falling because of the coronavirus expecting a slowdown or recession in the world economy that the reason gold has also increased a lot in the recent times but unfortunately there is a correlation between the S$P 500 and BTC price movements as the Bitmex CEO already mentioned about that so it is causing the crash in BTC too as per them but don't know why because it should benefit rather than affecting. This has been explained in the below video who is a good YouTuber

https://www.youtube.com/watch?v=UsCOwLuzv0E

Even the gold crashed hard today. So it seems everything is sold for fiat money, which we consider it a scam. That's how average Joe's mentality is. But in a total lockdown status, you can not even go out and sell your gold, so it becomes reasonable that gold also crashed. Anyway, if everyone were forced to stay at home, I see more activities in cryptocurrency area

plast555

sr. member

Activity: 951

Merit: 259

Quote from: Yatsan on March 10, 2020, 09:47:06 AM

Quote from: Twentyonepaylots on March 10, 2020, 09:30:43 AM

The worry starts with people since people are the one responsible for everything in here then it reflects to the market. It is been a long talked, if the corona virus did take affect the crypto market, In my opinion, yes it does however the movement is going to the other way. I expected the price to go up after seeing the outbreak thinking people would use crypto for payment in many case but it seems like we are all wrong, the price is continously declining in what direct reason? we still don't know and we'll not know.

I think Corona virus didn't affect the cryptocurrency considering that, it's not a threat to any cryptocurrency and we have nothing to do with it. As you can see now, the stock are taking all the damage from it because, they have a real-life establishments that will suffer from the virus from the lack of customer's all around the world.

Empty transportation vehicle, people losing jobs, No tourism and lastly global markets that are crashing. That is basically, what corona virus is affecting, with regards to crypto it doesn't have any effect since it's on the internet and no real-life asset could take the damage from the virus.

We as the crypto community treats BTC as digital gold so whenever there is a recession or uncertainty in the economy the money will flow into the gold from stocks all the stock market in the world is falling because of the coronavirus expecting a slowdown or recession in the world economy that the reason gold has also increased a lot in the recent times but unfortunately there is a correlation between the S$P 500 and BTC price movements as the Bitmex CEO already mentioned about that so it is causing the crash in BTC too as per them but don't know why because it should benefit rather than affecting. This has been explained in the below video who is a good YouTuber

https://www.youtube.com/watch?v=UsCOwLuzv0E

shoreno

full member

Activity: 1750

Merit: 118

indeed your right . it seems like people are acting like a noob . how many times they see that crypto market is up and down ? but this covid thing is new and its a more serious case than on crypto because people's lives here are at risk . when people dies that is a minus point for crypto because that people can potentialy invest on the future if ever he isnt an investor now . right now i do worry on corona the most because its reported that it already entered our country . this was verry alarming because the number is slowly increasing from 2 before now to 53 .

Meowth05

sr. member

Activity: 854

Merit: 267

★777Coin.com★ Fun BTC Casino!

We can't brush off the fact that their is a worry for the peopel. They are an important asset for any country. Being on alert helps in making the situation less worse, keep an optimistic mindset, and slam those fake news which harbor panic. Market will be active at this time and this will cause some plummets to other market some market will surge.

FlightyPouch

sr. member

Activity: 1638

Merit: 300

Quote from: imstillthebest on March 11, 2020, 03:25:16 PM

Quote from: FlightyPouch on March 11, 2020, 09:23:44 AM

I think people are overreacting since they thought that if people are having a hard time dealing with transactions and money because of this epidemic, they might sell their bitcoins and affect the price negatively. We should not be affected in terms of our crypto currencies, this virus is not directly affecting the price of bitcoin if it was the reason of the dump it should've dropped earlier when the virus is just starting.

but its not the case that happen . the price of bitcoin increase more right after the start of virus but the price drop after several days . that is because no people are not affected yet but eventually it spread fast and affect the people severly .

i think over reacting is part of thier plan because they want the prices to drop so that they can accumulate the item easily . if the drop of the price affect cryptos then we should be happy because this what were all waitin for .

If that is the case then what is the connection of the pandemic and the price of bitcoin? The price fell last week because of an exchange being hacked as far as I know. It has nothing to do with the pandemic that is happening. It just a coincidence that the price pump and price dump happened at that point.

qory

hero member

Activity: 1722

Merit: 508

Always have to worry with covid 19 or corona virus because make many people die and thousand people hurt and keep away from their house, now many football player get this corona virus and many parliament have got corona virus.

Assface16678

full member

Activity: 1484

Merit: 136

★Bitvest.io★ Play Plinko or Invest!

Quote from: matchi2011 on March 12, 2020, 07:27:56 AM

Quote from: xvids on March 12, 2020, 06:40:04 AM

People worry about the market more than the lives of those who are affected by the virus.
I guess those people are the one's who still have low percent of covid-19 on their place or country that is why they still worry about the price,
But if they are already affected I don't think that they would think about the market they would be focus on their health over their wealth.

Agree, it's far important to keep things safe than the current market movement. The more they value their health and be safe the more chances that
after this concern the market will recover back.
People should value life than the market, money can't buy your life if this issue might go deeper. Keep safe and hope for the best after this virus
got the proper solutions.

Today one of the widely spreading news is about the market price of the whole stock and many people are getting worried because some of us are making a lot of investment while the price is still low and today we are now facing again that the price of the bitcoin and other coins are falling down that was not quite a good news and because of this is the pandemic virus spreading worldwide many people getting afraid and they are now having some panic selling and some of the large investor are pulling out their withdraw too because they need to support the use of making a cure on their country still after this disaster we are hoping that the market price of the coin again will rise back and reach for over 10k dollars but still we need to hope and pray about it.

The Sceptical Chymist

legendary

Activity: 3528

Merit: 7005

Top Crypto Casino

Quote from: xvids on March 12, 2020, 06:40:04 AM

do you guys believe that COVID-19 affected this thing?

Yes, but that damn virus is affecting everything in the economy. Even the NBA canceled its season, apparently (that might be old news, but I'm a bit behind).

Most people will not die from COVID-19, which is a fact that seems to be lost on a lot of people who are overreacting to this thing. Of course some people are going to die, but the media is playing up those deaths as if it's the norm. It drives me crazy.

Anyway, as far as bitcoin goes I think it's going to recover eventually. It got hit pretty damn hard in the past week, but I'm hopeful that we'll still see a new high for the year at some point. If scientists can manage to make a vaccine for the virus, I'm sure that'll calm a lot of people's fears. We'll see.

el kaka22

legendary

Activity: 3710

Merit: 1170

www.Crypto.Games: Multiple coins, multiple games

There is absolutely no better moment to buy stocks, gold, crypto or anything in general all due to people are being overly scared of corona virus right now. I mean we are talking about prices of things that should be going up that goes down all due to people being too scared and sell it instead of buy more of it. Look at the stock market in USA for example, it all went down due to the fear and now the market crashed but looking at the individual companies there hasn't been really a big fall in their sales right?

On contrary, some pharma companies actually made more profits as well and Johnson&Johnson should be going up like crazy thanks to their hand sanitizers actually running out of stock and can't keep up with demand, yet the stock is going down, it just makes no sense.

matchi2011

sr. member

Activity: 1456

Merit: 267

Buy $BGL before it's too late!

People worry about the market more than the lives of those who are affected by the virus.
I guess those people are the one's who still have low percent of covid-19 on their place or country that is why they still worry about the price,
But if they are already affected I don't think that they would think about the market they would be focus on their health over their wealth.

Agree, it's far important to keep things safe than the current market movement. The more they value their health and be safe the more chances that
after this concern the market will recover back.
People should value life than the market, money can't buy your life if this issue might go deeper. Keep safe and hope for the best after this virus
got the proper solutions.

xvids

sr. member

Activity: 1176

Merit: 301

People worry about the market more than the lives of those who are affected by the virus.
I guess those people are the one's who still have low percent of covid-19 on their place or country that is why they still worry about the price,
But if they are already affected I don't think that they would think about the market they would be focus on their health over their wealth.

arrmia11

member

Activity: 406

Merit: 13

Quote from: dioanna on March 10, 2020, 09:50:34 AM

Actually I haven't look at exchangers nowadays, my attention is on the current situation here in our country about the virus.
We really can't help but worry coz it is getting serious.

Just like my here in my country the people here are scared on that virus because its spreading faster than we expected that's why the government in every country thet really need to take an action for this situation because it's really a serious disease.

Darker45

legendary

Activity: 2576

Merit: 1860

Quote from: stomachgrowls on March 11, 2020, 08:55:55 AM

Quote from: Gozie51 on March 11, 2020, 06:44:10 AM

Quote from: Darker45 on March 10, 2020, 11:05:13 PM

The direct effects are the closed shops, factories, stores, hotels, tourist attractions and so on; cancelled flights and ship travels; draining of stocks for selling; and so many other effects. All this will certainly hit the people hard.

This is now worrisome. The effect is now deprive people of fun and normal living. In sports now, so many games have been cancelled and some played without fans coming to watch.
Some countries too I have read are burning their fiat because of presumed contact. I hope the world would soon go pass this health challenge.

In my lifetime, this is the first time i do experience where a kind of virus did really give big effect worldwide where it do already comes to a point where it affects traditional operation and hobbies etc.

This is indeed a worrisome thing if this wont be still resolved in more months then we can expect a further or severe situations compared on what we have seen at the moment.

Im not really concerning into market or economic situations and i agree into on op's points that we should be worry on humanities situation.

COVID-19 has already been considered as a pandemic, which means that it is now spreading worldwide. The unique aspect of this virus is that it is very infectious unlike other communicable diseases or the other currently existing pandemic which is HIV AIDS. This is basically the primary reason why it affects to a very high extent the day to day living of people. It may not be as fatal as other diseases but since it is highly contagious, it shakes the normal lifestyle of the world. Almost all kinds of gatherings are cancelled; exams, conferences, concerts, sports games, television shows, and so on and so forth.

I am also not concerned of the market itself. I am concerned of its implications to the economic stability because that is basically about people, their life. Modern humanity is highly dependent on the market. Gone are the days when families can survive with what they grow in their backyards. Right now, everything has to be bought outside. A freeze in the market or lockdown of cities and countries will starve people.

awik p

full member

Activity: 1526

Merit: 111

Pepemo.vip

the big force that drives the market is the human mind. today many people are worried about the corona virus, which paralyzes the economic sector, so that concern becomes a force, where many people take the same action, so the market moves significantly

Baofeng

legendary

Activity: 2576

Merit: 1655

Covid-19 has already put a lot of selling pressures not just on crypto market, but almost every traditional market all around the world. Just in Asia alone, stocks are plummeting because of the scare, so indeed everyone is affected, average joes' like us and huge whales around causing them to sell. So we can't really tell not to worry about it because we have seen the effects already. Here, new cases are discovered, classes are suspended and everyone are afraid to get out in fear of infection.

princesspoppy

member

Activity: 634

Merit: 10

I can't say that COVID19 really caused the declination in bitcoin's price, but I can say it is possible. People affected by this virus tends to stay home - classes are suspended as well as employees work are taken to their homes. Without the circulating works and transactions, businesses will crash and it may really lead to recession. This recession can affect the economic status in a very not so nice and negative way just like what is happening to the stock market and maybe to crypto market as well. If this virus ever continue and spread more, people will surely be left no choice but to cash out fiat money from their banks and any investment they have just to have extra money for their everyday use.

exstasie

legendary

Activity: 1806

Merit: 1521

Quote from: kawetsriyanto on March 10, 2020, 06:31:39 PM

Quote from: dothebeats on March 11, 2020, 04:18:33 PM

Not sure this corona virus or COVID-19 really affected the collapse of the crypto market, because this market works online

Indeed. Crypto market works online and it should be no problem with the coronavirus.

You're ignoring the bigger context. BTC valuation is dependent on more than Bitcoin working online or markets trading 24/7.

This is the theory: corona virus causes recession, recession causes risk off investment period and job/growth losses. Risk off = investors are risk averse, selling risk assets like BTC (or equities, commodities, high yield securities) in favor of cash. Job and growth losses = pressure on BTC holders to sell (more supply) and less disposable capital to invest (less demand).

That's why a corona virus induced recession will be bad for BTC prices.

The market can surely recover after all these events are over, but what about the lives which are at risk? The crypto market and the conventional markets will still remain even if the virus goes full-on rampage. People's focus should be on the prevention of the spread of this virus and not making profits over someone's doubts and miseries.

I can sympathize with that, but it's also easy to say that as a spectator without much skin in the game. There are people whose financial well being and careers hang in the balance based on what the markets do.

dothebeats

legendary

Activity: 3542

Merit: 1352

Cashback 15%

This just goes to show you where the focus of everyone is: money and profits rather than the welfare and eradication of the virus. Though the governments and private sectors are working closely towards finding a vaccine to the said virus, those directly affected are still trying to make a buck or two out of the pandemic, which sucks since they can't use the money if they are dead. The market can surely recover after all these events are over, but what about the lives which are at risk? The crypto market and the conventional markets will still remain even if the virus goes full-on rampage. People's focus should be on the prevention of the spread of this virus and not making profits over someone's doubts and miseries.

imstillthebest

full member

Activity: 1638

Merit: 122

Quote from: FlightyPouch on March 11, 2020, 09:23:44 AM

I think people are overreacting since they thought that if people are having a hard time dealing with transactions and money because of this epidemic, they might sell their bitcoins and affect the price negatively. We should not be affected in terms of our crypto currencies, this virus is not directly affecting the price of bitcoin if it was the reason of the dump it should've dropped earlier when the virus is just starting.

but its not the case that happen . the price of bitcoin increase more right after the start of virus but the price drop after several days . that is because no people are not affected yet but eventually it spread fast and affect the people severly .

i think over reacting is part of thier plan because they want the prices to drop so that they can accumulate the item easily . if the drop of the price affect cryptos then we should be happy because this what were all waitin for .

FlightyPouch

sr. member

Activity: 1638

Merit: 300

I think people are overreacting since they thought that if people are having a hard time dealing with transactions and money because of this epidemic, they might sell their bitcoins and affect the price negatively. We should not be affected in terms of our crypto currencies, this virus is not directly affecting the price of bitcoin if it was the reason of the dump it should've dropped earlier when the virus is just starting.

stomachgrowls

hero member

Activity: 3010

Merit: 794

Quote from: Gozie51 on March 11, 2020, 06:44:10 AM

Quote from: Darker45 on March 10, 2020, 11:05:13 PM

The direct effects are the closed shops, factories, stores, hotels, tourist attractions and so on; cancelled flights and ship travels; draining of stocks for selling; and so many other effects. All this will certainly hit the people hard.

This is now worrisome. The effect is now deprive people of fun and normal living. In sports now, so many games have been cancelled and some played without fans coming to watch.
Some countries too I have read are burning their fiat because of presumed contact. I hope the world would soon go pass this health challenge.

In my lifetime, this is the first time i do experience where a kind of virus did really give big effect worldwide where it do already comes to a point where it affects traditional operation and hobbies etc.

This is indeed a worrisome thing if this wont be still resolved in more months then we can expect a further or severe situations compared on what we have seen at the moment.

Im not really concerning into market or economic situations and i agree into on op's points that we should be worry on humanities situation.

Gozie51

hero member

Activity: 2660

Merit: 630

Vave.com - Crypto Casino

Quote from: Darker45 on March 10, 2020, 11:05:13 PM

The direct effects are the closed shops, factories, stores, hotels, tourist attractions and so on; cancelled flights and ship travels; draining of stocks for selling; and so many other effects. All this will certainly hit the people hard.

This is now worrisome. The effect is now deprive people of fun and normal living. In sports now, so many games have been cancelled and some played without fans coming to watch.
Some countries too I have read are burning their fiat because of presumed contact. I hope the world would soon go pass this health challenge.

CHENIEN

member

Activity: 616

Merit: 11

Decentralized Ascending Auctions on Blockchain

The most important is people because life is more useful than money which is easy to find, but the life when lost we can't be restored, so if the percentages of miners were normally completed in their position the impact of bitcoin's price will be more further restricted formally. According to the newsbreak sources, the prediction of coronavirus can still reach up to April 2020 Probably, I think it makes sense to the people assume that traders are back to worrying, however, it is a commonplace where this is not new in the crypto world, it is impossible to avoid which is included in the business transaction.

Darker45

legendary

Activity: 2576

Merit: 1860

Well, the market is basically something to worry about because it is all about the people. The market matters because it represents the people, their lives. When the market nosedives, it could mean people losing their jobs, losing their savings, losing the value of their assets and properties, and so on. The root cause, of course, is the virus. The direct effects are the closed shops, factories, stores, hotels, tourist attractions and so on; cancelled flights and ship travels; draining of stocks for selling; and so many other effects. All this will certainly hit the people hard.

Twinkledoe

full member

Activity: 1904

Merit: 138

★Bitvest.io★ Play Plinko or Invest!

Quote from: kawetsriyanto on March 10, 2020, 06:31:39 PM

Not sure this corona virus or COVID-19 really affected the collapse of the crypto market, because this market works online

Indeed. Crypto market works online and it should be no problem with the coronavirus. I agree that it won't bring significant impacts to the trends on crypto market. But it probably has an impact if many crypto traders or investors get infected by the virus. It will make them not active in crypto market temporarily or forever. I assume people who said that coronavirus affects crypto market in this way.

We can consider also those miners or mining farm with high percentage located in China. So if these mining farms will be temporarily shut down because the government told them so, I think it will have an impact in bitcoin's price. Also, those manufacturers of mining equipment and gadgets are subjected to this temporary shutdown. And the shipping around the globe will stop for a while to combat the spread of this virus. Though online transactions will not be affected but other factors in bitcoin-related activities are suffering.

One more thing, blockchain conferences are also affected by this. So we are expecting them to cancel such crypto gatherings and this is bad for those projects that wanted exposure in the blockchain community to get potential investors.

gantez

full member

Activity: 1736

Merit: 121

The corona might have been hitting on bitcoin maybe because of panic sell off. This however is coming at a time where the market is preparing to meet halving. Therefore, I think halving might help to boost price soon.

kawetsriyanto

legendary

Activity: 2422

Merit: 1140

duelbits.com