Do not blame it on Corona outbreak - page 7.

fortunecrypto

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Quote from: Vaculin on March 09, 2020, 05:52:39 PM

Quote from: kooboat on March 09, 2020, 05:39:53 PM

Am surprise many people are blaming the recent decline in the price of bitcoin on the outbreak of Corona Virus. It is just a normal occurrence in recent times to see the price of bitcoin falling. I don't just see how Corona Virus is being speculated as one of the main causes.

If this would solely due to the corono virus outbreak, we would have see the price slowly declining, but that didn't happen, the price has suddenly dump so we can't blame that to corona virus as it's already here even when the times bitcoin was still pumping.

this maybe the reason :
https://beincrypto.com/plus-token-scam-dumps-another-13000-btc-118m-may-be-responsible-for-bitcoin-drop/

That's a huge amount of Bitcoin to dump.although it's a good opportunity to buy Bitcoin, but we should not let this happens authorities should stop this scammers from dumping their loot, there should be a way to track where this coins are coming, they are using mixer that is why authorities are having a hard time exposing these scammers.

fuer44

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First, corona is the cause of the weakening of the global economy and the collapse of the global economy can make crypto also get a trend that is down because of panic. for example, airlines are currently losing money, and the prices of some staples are also rising because of the effects of the virus. I think that this is a bit of a concern for some people in the crypto room as well so that they are panic sell.

taufik123

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Coronavirus at least has some impact that does affect the price of bitcoin. We know that China has become one of the most influential countries for bitcoin and many of the big miners come from China. Coronavirus turns off some miner sectors in China, of course. Some time ago the president of China also began to accept the blockchain as a technology that would be developed by them and impact on bitcoin.

The corona virus does not completely make the price of bitcoin go down but, people who want to get many benefits take advantage of this incident by spreading some negative news related to coronavirus. We in this forum must respond to events wisely.

yazher

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So sad, because last year we were speculating the price to rise without calculating the issue of this virus. we were happy at that time because we thought this year we will gonna see some positive record breaking in the crypto market again but suddenly the news of the virus came, affecting almost all of the industries in the world including Bitcoin and other Altcoins. We can no longer speculate the price right now, Only God knows best what will gonna happen next and let's hope that this virus will end soon.

Saisher

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Quote from: Ifemini on March 09, 2020, 05:41:42 AM

Alot of blogs and articles are referencing the facts that the present dip in prices is related to corona virus outbreak. But I do not believe so
I believe It's not just the virus, all these things were going to happen,
the virus just lit the match and acted as a catalyst

There are articles coming out and it's true that the PLUSTOKEN scammers are the one dumping Bitcoin on exchanges, they are using mixer so the authorities cannot trace them, but there is a concern that Corona Virus it will have an impact, positively or negatively in the market, let's see after the Plus Token issue is over.

hatshepsut93

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Last year we saw something similar when Bitcoin reached $13,000 but failed to grow further and entered a bear market - now we met resistance at $10,000 so the market similarly turned bearish because of the failure to reach even the last year high, which isn't even close to the ATH. It might take some more time after the halvening for the market to recover and attempt to break key resistance levels again. So, the virus really looks like a coincidence, I'm sure something similar would have happened even without it.

samcrypto

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Let’s admit it, the virus affect every sector and stocks are also declining, the demand for Petroleum are declining and this force them to lower the price and now bitcoin are also dumping. We can’t bear this one in long term so let’s hope and pray for the cure as soon as possible, or else bitcoin and many markets will suffer a big more loss.

sunsilk

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There are reports that the dump was not caused by the corona virus. We are usually aware if massive sell offs happened, the market is reacting quickly and it causes it to plummet.

I think this is an appropriate catalyst and reason for the said dump, the sell off the plustoken scam. They've sold 13k BTC.

Bitcoin Drop Due to 13k BTC PlusToken Scam, Not Coronavirus - Analysts

seleme

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Duelbits.com

The butterfly or domino effect, whatever you name the process the bear trend still dominates in the crypto market. Probably the correlation between the US index shares and risky financial markets has put its weight on the temporary catalyst. The BTC market price can go up to $15000 without correction but another excuse will pop-up for destroying this illusion. Harmony of the market depends on the time and price, all other factors are temporary, IMHO.

GreatArkansas

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Their are still some parts of novel corona virus that's why market capitalization of cryptocurrency are bloody these days but it's not only cryptocurrency market capitalization, it's also stock markets or even the oil which is already lost more than 30% since the start of this novel corona virus outbreak.
For me, this is good dumps than those manipulation things, atleast now we have some idea why we are dumping.

Valzador

hero member

Activity: 1316

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Quote from: thisnewcoin on March 09, 2020, 06:32:33 PM

Maybe you are right. This dump is not because of Coronavirus, because all these days we have been saying that the bitcoin price has increased because of Coronavirus then what happened suddenly people are changing their opinions and blaming Coronavirus? I think recent dump in the crypto market is manipulation by some big whales so they can fill their bags before the halving! Personally, I think this price dump is for a limited time, after a couple of days, the crypto market will go up surly!

bitcoin prices will not go down because of the coronavirus, instead, people will choose safe investments between gold and bitcoin during a crisis like this, all world stock prices are red, trading delays, sooner or later bitcoin valuations will go up.

thisnewcoin

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Maybe you are right. This dump is not because of Coronavirus, because all these days we have been saying that the bitcoin price has increased because of Coronavirus then what happened suddenly people are changing their opinions and blaming Coronavirus? I think recent dump in the crypto market is manipulation by some big whales so they can fill their bags before the halving! Personally, I think this price dump is for a limited time, after a couple of days, the crypto market will go up surly!

Vaculin

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Winding down.

Quote from: kooboat on March 09, 2020, 05:39:53 PM

Am surprise many people are blaming the recent decline in the price of bitcoin on the outbreak of Corona Virus. It is just a normal occurrence in recent times to see the price of bitcoin falling. I don't just see how Corona Virus is being speculated as one of the main causes.

If this would solely due to the corono virus outbreak, we would have see the price slowly declining, but that didn't happen, the price has suddenly dump so we can't blame that to corona virus as it's already here even when the times bitcoin was still pumping.

this maybe the reason :
https://beincrypto.com/plus-token-scam-dumps-another-13000-btc-118m-may-be-responsible-for-bitcoin-drop/

shinratensei_

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Leading Crypto Sports Betting & Casino Platform

Quote from: Ifemini on March 09, 2020, 05:41:42 AM

Alot of blogs and articles are referencing the facts that the present dip in prices is related to corona virus outbreak. But I do not believe so
I believe It's not just the virus, all these things were going to happen,
the virus just lit the match and acted as a catalyst

That virus is affecting the whole ecosystem and look at what fundamental behind this big dump https://cointelegraph.com/news/bitcoin-tested-as-a-safe-haven-after-biggest-stock-crash-since-2009
Corona virus was affecting the stock market and that created a big dump in the stock market too. that means people are also reacting the same thing on the crypto market too and all of these dumps caused by corona virus. You must not think about that if that was not giving a huge impact caused by the impact created by corona virus is a domino impact.
This virus is affecting the world economy globally.

kooboat

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BountyMarketCap

Am surprise many people are blaming the recent decline in the price of bitcoin on the outbreak of Corona Virus. It is just a normal occurrence in recent times to see the price of bitcoin falling. I don't just see how Corona Virus is being speculated as one of the main causes.

leowonderful

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Bitcoin FTW!

The fact that coronavirus acted as some sort of catalyst for the temporary bearish market conditions we're seeing at the moment proves that it does have at least some impact on what happened here, but besides real-world conditions, some indicators were already showing a weakening uptrend with MACD and even entering overbought conditions on the 1D with RSI. It's getting people nervous about investments as a whole nevertheless. I still do agree that there was not one single reason for the recent price action though.

ife2020

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Quote from: Ifemini on March 09, 2020, 05:41:42 AM

Alot of blogs and articles are referencing the facts that the present dip in prices is related to corona virus outbreak. But I do not believe so
I believe It's not just the virus, all these things were going to happen,
the virus just lit the match and acted as a catalyst

I wouldn't rule out corona virus as a factor as regard the dump. But it is not entirely the virus.
Couple of project whales, are dumping off their assets and there has been FUD too causing people to panic and dump off for fiat.

It is up to each individual or investor to make the right choices and dyor always.

Novatech8

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Sovryn - Brings DeFi to Bitcoin

I think the present reason why Bitcoin losses it's value is because of a huge dump from an exchange, I saw something about this on news yesterday but I can't really remember the exchange name again, coronavirus already did it's damage and it's not that effective

joshua123

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Quote from: Ifemini on March 09, 2020, 05:41:42 AM

Alot of blogs and articles are referencing the facts that the present dip in prices is related to corona virus outbreak. But I do not believe so
I believe It's not just the virus, all these things were going to happen,
the virus just lit the match and acted as a catalyst

You already said it yourself that it lit the match and acted as a catalyst. I think there is also an effect on the market this virus that been on the news for the past few weeks. The market before it has started to improved and eversince this virus has been lurking, it affected the market price even the stocks, crypto and every sectors. Articles can create their own version but there is no denying that corona virus one of the reaponsible for this crash.

Ifemini

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There are consequences for every action

Alot of blogs and articles are referencing the facts that the present dip in prices is related to corona virus outbreak. But I do not believe so
I believe It's not just the virus, all these things were going to happen,
the virus just lit the match and acted as a catalyst

Topic: Do not blame it on Corona outbreak - page 7. (Read 742 times)