Does The Impact Of Corona Virus Will Disrupt The Crypto Industry?

arrmia11

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Quote from: gokumarket on March 12, 2020, 02:43:16 AM

Does The Impact Of Corona Virus Will Disrupt The Crypto Industry?

With every passing day coronavirus is increasing its area, and due to which every industry facing a setback. Crypto moves virtually and its a highly volatile industry, therefore in this ongoing epidemic of coronavirus it is necessary to know how the crypto industry will react.

Yes of course it will disrupt the crypto industry because the impact of the corona virus is affecting all over the world, even the people and the foods, alcohol, surgical mask, water etc. So they need to react for this situation in order for us to aware about this kimd of virus

bitgolden

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Quote from: gokumarket on March 12, 2020, 02:43:16 AM

Does The Impact Of Corona Virus Will Disrupt The Crypto Industry?

With every passing day coronavirus is increasing its area, and due to which every industry facing a setback. Crypto moves virtually and its a highly volatile industry, therefore in this ongoing epidemic of coronavirus it is necessary to know how the crypto industry will react.

Disrupt the cryptocurrency industry? What exactly do you mean, is it by causing a decrease in price?
The outbreak has been affecting almost every market from stocks, and everything, and yes Bitcoin is affected already, but being affected doesn’t mean that this is the end. It’s just that this outbreak has created a panic and that’s why a lot of people has been selling I guess.

But, the data I got from Coinbase shows that there is 76% buy rate which is bigger compared to the 24% that are selling. So, that’s a good thing and shows that there are people who still have faith in Bitcoin and are continuously buying, despite the situation at hand.

justdimin

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Well, from what we have seen so far in the last 24 hours can we basically call it question answered?

Obviously it is affecting crypto more than we realize. Maybe crypto shouldn't be affected as much as this because there is still nothing wrong with it, but I guess that is how the markets work. Think about it, what has changed in bitcoin itself in the last 24 hours that could make it go down this much? Did we found a bug? Is there a market trouble with exchanges? Was there a big news regarding crypto?

Nothing major happened in the last 24 hours but it still dropped in price, which is what I am talking about here, it was only corona that affected and there is nothing else going on. With leagues closing down and flights and other stuff, we are in big trouble due to corona and that affected crypto prices as well.

Yatsan

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Honestly, i didn't expect that cryptocurrency will be affected in this crisis considering that we are all digital and we don't have any physical product that is going to be affected by the crisis. Sadly, as we are all experiencing now, cryptocurrency is not a safe haven for this, it's going to be affected, the bitcoin price and other alts drop their price and we are on roller coaster right now, our asset are the people and it seems the virus are affecting a lot of people. Lot of people are panic buying so same with the crpyto holders, lot of them are going to sell their crypto and buy goods to fight the virus. This virus is hitting the economy of every country, and cryptocurrency is also taking the damage.

Stay safe everyone! I hope that my fellow crypto holders are doing great. We can overcome this virus.

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Quote from: gantez on March 13, 2020, 09:52:59 AM

Quote from: arrmia11 on March 13, 2020, 07:23:31 AM

I think it's yes it will affect the crypto industry because the virus known as (COVID'19) are spreading faster than we thought because from the day that the virus are starting to grow until now the affected people are increasing faster just like in China

This is really getting serious. Bitcoin price is dropping, I was surprised with seeing it getting to below $5,000. I hope the health system fights back as quick as possible. Ebola , SARS were fought seriously and within a short time , peace was returned.

Yeah i am also surprised by the serious dump of bitcoin's price and the fact that the virus is still spreading and growing in numbers, bitcoin's price will still be in that area for at least a month i think but from what i've seen in the news, they have progress in finding a cure and understanding the virus completely so i hope they can complete the vaccine soon so that the crypto industry will be normal again and also other industry in each countries that are affected by the virus.

gantez

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Quote from: arrmia11 on March 13, 2020, 07:23:31 AM

I think it's yes it will affect the crypto industry because the virus known as (COVID'19) are spreading faster than we thought because from the day that the virus are starting to grow until now the affected people are increasing faster just like in China

This is really getting serious. Bitcoin price is dropping, I was surprised with seeing it getting to below $5,000. I hope the health system fights back as quick as possible. Ebola , SARS were fought seriously and within a short time , peace was returned.

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Quote from: gokumarket on March 12, 2020, 02:43:16 AM

Does The Impact Of Corona Virus Will Disrupt The Crypto Industry?

With every passing day coronavirus is increasing its area, and due to which every industry facing a setback. Crypto moves virtually and its a highly volatile industry, therefore in this ongoing epidemic of coronavirus it is necessary to know how the crypto industry will react.

The impact of the Coronavirus is more pronounced in China It has become an epidemic and the economy is being disrupted If most people in China are involved in crypto if they are unable to invest properly then their demand will be greatly reduced and the crypto industry will be disrupted.

arrmia11

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I think it's yes it will affect the crypto industry because the virus known as (COVID'19) are spreading faster than we thought because from the day that the virus are starting to grow until now the affected people are increasing faster just like in China

Wexnident

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Possibly, but it isn't directly attacked by the virus itself. The virus has caused the stock market to crash and obviously, economy is slowly crashing down because of the lack of resolution regarding the spread of the virus which only spreads day by day. If this continues, naturally, no economy could possibly support Bitcoin. If it was only one part, let's say, a 0.1% of the world that was affected by the virus, it could possibly have had no effect to crypto and may even cause a boom for it, but sadly, the entire world is currently enveloped by the virus at the moment, and the number of cases only increase and not decrease. BTC would hold no value if everything in the world started going to zero right?

awik p

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the impact of the corona virus is felt by all aspects of the industry, not only cryptocurrency. The stock market also suffered a setback, with all aspects of the economy of the entire country experiencing its effects. even today bitcoin has fallen sharply, and is followed by almost all the existing altcoins. I hope this case will be resolved soon and the market will return to normal

johnyj

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Quote from: fiulpro on March 12, 2020, 05:03:36 PM

No matter how you choose to see it as , bitcoins is also connected with the economic situation and one should remember that , if everything is going down bitcoins will too .

No, there is one thing that does not go down: USD. In fact, all the fiat money is getting a boost during this crisis and everyone want them. This is sad, since bitcoin is said to be a better money than all the fiat money, so the requirement for bitcoin should be higher than USD during the crisis. Obviously it is far from that claim

I just hope that people will realize this later when FED's trillion dollar flooding arrives, but at least for now, bitcoin seems not to be a better money, far from it
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fortunecrypto

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Quote from: gokumarket on March 12, 2020, 02:43:16 AM

Does The Impact Of Corona Virus Will Disrupt The Crypto Industry?

With every passing day coronavirus is increasing its area, and due to which every industry facing a setback. Crypto moves virtually and its a highly volatile industry, therefore in this ongoing epidemic of coronavirus it is necessary to know how the crypto industry will react.

So far the market acts negatively, and this is not good it just show that many of us here are still unbelievers on the technology of Cryptocurrency on the positive side, this is a market where we can create a huge profit for the future, whales are just looking if the condition to improves I'm pretty sure they will in a hurry to buy, just like all the other dump their shares.

el kaka22

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It does impact it in a way that actually shouldn't impact at all but still does. It impacts in a way that people actually forget that it is a 2% death toll on all infected that is basically less than 1% of all humanity, so it is actually less likely to die from corona than die from a snake bite yet people are really scared of it. There has been talks about how it is getting better because medicine is worked on it now but there are still scares around the globe of course.

Normally, it shouldn't affect crypto because even when cash and trade is going down and stocks going down, that is good for crypto since we are unrelated and all investments to crypto should be safe, yet for some reason when the stock markets and all other stuff are going down, people are removing themselves from crypto as well for some reason.

AlecMe

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Coronavirus or not, any chain of events that would force people to get liquidity (cash) will force people to sell - I am referring here to people who own 'considerable' amounts of BTC.

We are fundamentality driven by emotions... fear rules overall.

I believe more will sell as the virus will spread and as well, the second emotion will kick in, greed (can be seen as FOMO) and people will buy-in.

The true test lies ahead. Survival and reaping what comes after

Ozero

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Quote from: Ucy on March 12, 2020, 03:13:54 AM

The impact won't be that much if we depend less on the centralized world, or better still, if we are very decentralized with flourishing interdependent/independent ecosystem & businesses.
A very decentralized crypto would work great (when most centralized businesses are closed or destroyed) in a much worse situation... let say in a war-like situation.

We cannot live in this world and be independent of it. Cryptocurrency will be able to develop if it works in conjunction with a regular currency, which means they will influence each other. The current events are clearly showing this.
Now the price of bikoin has fallen to almost five thousand dollars, and ethereum - to 119 dollars and continue to fall. The influence of the spread of coronavirus on the price of cryptocurrency is now obvious, even if we allow that such an effect is not direct.

fiulpro

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The Corona Virus is disrupting everything , from the stock shares to the government.
Why would it not disrupt the bitcoins ?
No matter how you choose to see it as , bitcoins is also connected with the economic situation and one should remember that , if everything is going down bitcoins will too .
A pandemic is a disaster not confined to the binds of one national , it's world wide , causing a mass destruction and also one should remember that it is start of a new economic depression , things have just started going down . . . .

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