COVID-19 - The major reason for the current fall of Bitcoin - page 3.

TravelMug

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Quote from: BluePowder on March 25, 2020, 10:14:34 PM

So you think the world is a co-ordinated pack of dummies that base everything on panic. nice try. these are pro traders. they sell because this is how markets operate and nobody wants to tie their money up for months or years to see if it recovers. getting out of a stock first is the best thing you can do. you can rebuy later if there is still upside.

I bet half the posts here whining about the price were too stupid to sell and took a 50% hit

That's how everything operates right? get out if you are afraid and then come back, rebuy when everything settles down. As for those who are too stupid to sell and get REKT, that's only part of the market, weak hands are shaken and whales are buying back as many as they can from those who cash out early because of the panic.

Hanta virus?

Hantavirus is one illness you don’t need to worry about right now.

What is Hantavirus? Misleading messages spread fear after death in China.

bgaf

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Quote from: fabiorem on March 25, 2020, 06:13:24 PM

A second shake of the stock market is coming next week, with the release of the "hantavirus". There is already one confirmed case in China of this old form of pneumonia.

I heard of it. Another shit virus came from China but this one isnt that dangerous compared to covid which has now ripping all the resources of every country. I disagree that the market will tremble once again just because of this new virus.

Quote from: fabiorem on March 25, 2020, 06:13:24 PM

Short some now and buy back later, and if you cant buy, it will be no problem, as it will be useless when the new global centralized cryptocurrency hits.

Wow advising us to sell when we are currently at a loss? No way, Ive been positive that market will go up steadily, I can see when the time for short and to be honest, were going to have a very long way but Long position is advise for now.

BluePowder

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So you think the world is a co-ordinated pack of dummies that base everything on panic. nice try. these are pro traders. they sell because this is how markets operate and nobody wants to tie their money up for months or years to see if it recovers. getting out of a stock first is the best thing you can do. you can rebuy later if there is still upside.

I bet half the posts here whining about the price were too stupid to sell and took a 50% hit

Quote from: GreatArkansas on March 25, 2020, 08:47:20 PM

Quote from: LEON331300 on March 25, 2020, 03:51:56 PM

The major reason for this fall is fear. When fear enters the market, it creates panic and people then to liquidate their money to a fiat funds that they can easily acess for their survival, resulting to dumping and hence, a fall in price.

I think most of the people who panic last time were affected by major markets in the world, just like stocks. As we experienced, most of the markets dumped, not only in cryptocurrency or Bitcoin but also in major stocks in the world.
So, after the recent dump on Bitcoin, which almost 50% within just 24 hours. Here we are now, from around $3,800+ dump, we already almost doubled the price now which is currently we are on $6,700+ level. This is extremely good for Bitcoin.

GreatArkansas

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Quote from: LEON331300 on March 25, 2020, 03:51:56 PM

The major reason for this fall is fear. When fear enters the market, it creates panic and people then to liquidate their money to a fiat funds that they can easily acess for their survival, resulting to dumping and hence, a fall in price.

I think most of the people who panic last time were affected by major markets in the world, just like stocks. As we experienced, most of the markets dumped, not only in cryptocurrency or Bitcoin but also in major stocks in the world.
So, after the recent dump on Bitcoin, which almost 50% within just 24 hours. Here we are now, from around $3,800+ dump, we already almost doubled the price now which is currently we are on $6,700+ level. This is extremely good for Bitcoin.

exstasie

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Quote from: fabiorem on March 25, 2020, 06:13:24 PM

A second shake of the stock market is coming next week, with the release of the "hantavirus". There is already one confirmed case in China of this old form of pneumonia.

The panic! And of course, bitcoin is going to follow the stockmarket, which is all the hodlers cult (tm) wants, so expect a plunge back to 3k.

Nice try with the FUD, but nobody cares about hantaviruses. According to the CDC, a hantavirus pandemic is very unlikely:

Quote

To date, no cases of HPS have been reported in the United States in which the virus was transmitted from one person to another.

I do think this week's stock market rally is a dead cat bounce and the bottom zone will be tested again just like the 1987 crash. However, I have doubts the market will be able to reach the same levels of panic as March 12th again. I would say the chances of BTC reaching the $3,000s again are unlikely.

fabiorem

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A second shake of the stock market is coming next week, with the release of the "hantavirus". There is already one confirmed case in China of this old form of pneumonia.

The panic! And of course, bitcoin is going to follow the stockmarket, which is all the hodlers cult (tm) wants, so expect a plunge back to 3k. Also the miners adjusted the difficulty today, to a lower value, which will give us 2k after the plunge, opening the way to three digits. Short some now and buy back later, and if you cant buy, it will be no problem, as it will be useless when the new global centralized cryptocurrency hits.

We are looking at a financial reset, folks, do not triffle with it. This is no time for group thinking and internet cliques.

SUMBI99

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Quote from: LEON331300 on March 25, 2020, 03:51:56 PM

In this period of global pandemic, the crypto world has taken various turns with respect to spred of the virus. But with an overall fall in price. A lot of individuals have clams that this fall is not as a result of the COVID-19 virus, but it's so obvious that the Pandemic has a played a great role in this fall.

At the beginning of the year, bitcoin has a worth of approximately $9500, which is an optimal price compared to it's price today of
$6,647.47. It can be concluded that Bitcoin has experienced a drastic fall and the Coronavirus is a major reason for it.

Following the fall in the US market stock which is equivalent to Its gain this year; thus erasing the gain, bitcoin has also taken thesame turn.

The major reason for this fall is fear. When fear enters the market, it creates panic and people then to liquidate their money to a fiat funds that they can easily acess for their survival, resulting to dumping and hence, a fall in price.

What other reason do you think accounts for the fall of bitcoin at this point in time,
Want to hear your point Of view.

Many people have the same suggestions on this forum, But there is no need to repeat it as some people already talk about. There is a discussion on coronavirus being spamming the forum. So let contribute to already published topics about coronavirus and Bitcoin instead of starting a new topic which has the same meaning

BluePowder

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That's completely wrong. Price doesn't come from end users who need BTC. 95% of BTC activity is trading and financial related transactions, payouts for mining etc. 100% of price comes from the 95% of trading. The remaining 5%, people doing legit transactions, sales, services. moneygrams are not discovarable in price so it has nothing to do with the currrent market price. Out of those 5% think how rarely they need to go to a discoverable source to buy it, once a month, one a year who knows but its nowhere near trading usage.

BTC now is a trader's tool. it follows the markets and news with a slight divergence when there is opposing activity in the news. the price goes down because people have less faith in the asset and the future market. when people have more faith in the markets and that particular asset it goes up as they are willing to pay more for it.

Quote from: Yourhomeboy on March 25, 2020, 05:23:21 PM

Long before the covid-19 outbreak, Bitcoin has been experiencing bull and bear market, varying from the market capitalization to huge amount of BTC that was stolen by hackers, Covid-19 has nothing to do with the rise and fall of BTC, if you say people are selling their BTC, it must be to a buyer that needs BTC, so it keeps revolving around, no BTC is leaving the crypto market, you should know that crypto is not a stabilized currency. Thank you.

Yourhomeboy

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Long before the covid-19 outbreak, Bitcoin has been experiencing bull and bear market, varying from the market capitalization to huge amount of BTC that was stolen by hackers, Covid-19 has nothing to do with the rise and fall of BTC, if you say people are selling their BTC, it must be to a buyer that needs BTC, so it keeps revolving around, no BTC is leaving the crypto market, you should know that crypto is not a stabilized currency. Thank you.

LEON331300

jr. member

Activity: 268

Merit: 4

In this period of global pandemic, the crypto world has taken various turns with respect to spred of the virus. But with an overall fall in price. A lot of individuals have clams that this fall is not as a result of the COVID-19 virus, but it's so obvious that the Pandemic has a played a great role in this fall.

At the beginning of the year, bitcoin has a worth of approximately $9500, which is an optimal price compared to it's price today of
$6,647.47. It can be concluded that Bitcoin has experienced a drastic fall and the Coronavirus is a major reason for it.

Following the fall in the US market stock which is equivalent to Its gain this year; thus erasing the gain, bitcoin has also taken thesame turn.

The major reason for this fall is fear. When fear enters the market, it creates panic and people then to liquidate their money to a fiat funds that they can easily acess for their survival, resulting to dumping and hence, a fall in price.

What other reason do you think accounts for the fall of bitcoin at this point in time,
Want to hear your point Of view.

Topic: COVID-19 - The major reason for the current fall of Bitcoin - page 3. (Read 477 times)