when people are not going to work, they will need another source of income or take out of their investment,
Yes, I agree. When people prefer to stay at home, they need funds to fulfill daily needs. If they have no cash or fiats anymore, then selling assets is one of the options. Of course, this will bring big impacts to crypto prices because most people around the world do the same ways. 
Topic: How coronavirus can trigger a significant decline in the crypto market? - page 2. (Read 265 times)
March 14, 2020, 08:19:51 AM
March 14, 2020, 06:54:28 AM
The Corona virus out break has indeed affected the crypto community,not just the crypto community but also the the oil sector and even the stock sector, in a time like this people want to sell off their asset and hold fiat,that happens when panic sets in everyone is selling and as such it results to more dump and fall in price.
March 14, 2020, 05:43:33 AM
This is simple, when people are not going to work, they will need another source of income or take out of their investment, the selling pressure was what triggers the chain selling pressure, most people have their stop loss setup and was triggered.
Another thing is that Crypto market is not in isolation from the whole market space and when there is a panic like this people start factoring it in
Another thing is that Crypto market is not in isolation from the whole market space and when there is a panic like this people start factoring it in
March 14, 2020, 05:36:50 AM
Well everyone is into panic mode, triggering a massive sell-off not only in crypto but in the whole traditional markets around the globe. So for me this is the main reason, prior to the downfall, we have the plus token moving tons of their btc so that's the first catalyst.
And then triggered by the news of the covid-19 virus affecting everyone, not just ordinary people, but even those on the higher echelon in the society, like hollywood actors/actresses and sports personalities. So that alone, did chance the mindset of average joe and thinking they needed to have funds at hand to buy basic commodities in worst case scenarios.
And then triggered by the news of the covid-19 virus affecting everyone, not just ordinary people, but even those on the higher echelon in the society, like hollywood actors/actresses and sports personalities. So that alone, did chance the mindset of average joe and thinking they needed to have funds at hand to buy basic commodities in worst case scenarios.
March 14, 2020, 02:19:21 AM
You need to check the rising on BTC volume on March 12 and March 13, 2020. It was clearly seen that there was a big rise in BTC volumes. It indicates more BTC holders sold their Bitcoins to the market than the usual. Remember about the basic principle! If it is more supply than demand, then the price will drop. That's what is happening right now.
On major exchanges there are more buy orders than sell orders, it's Bitcoin we are talking about here, many are already buying because they sees this as big opportunity March 14, 2020, 02:03:24 AM
You need to check the rising on BTC volume on March 12 and March 13, 2020. It was clearly seen that there was a big rise in BTC volumes. It indicates more BTC holders sold their Bitcoins to the market than the usual. Remember about the basic principle! If it is more supply than demand, then the price will drop. That's what is happening right now.
March 13, 2020, 03:45:18 PM
I have read many people saying that coronavirus is affecting the crypto market. Then, it makes the market experiencing a huge decline currently. But most of them cannot explain it in detail "how the coronavirus can trigger a significant decline in the crypto market". So, I try to speculate (making an opinion) about the correlation between coronavirus and current decline.
- Many investors are panicking with the coronavirus outbreak in their countries. They probably are not active in trading temporarily because focusing on thinking about their safety first. So, there is less demand in many exchanges.
- Many investors are selling their assets to prepare the funding needs in anticipation of the coronavirus. So, there is a huge (exaggerated) supply in the crypto market, while less demand at the same time.
- Some whales take advantage to dump the crypto prices and spread FUDs about coronavirus. So, many people feel worried and sell their assets in panic.
- There is a rumor of PlusToken scam that was moving 13,000 BTC (worth $118 Million) yesterday.
Source: https://twitter.com/KevinSvenson_/status/1236672330073595904
*That's what I guess now. How about you, fellas? It will be very appreciated if you have another view (opinions). However, what I said above is just my assumptions.
- Many investors are panicking with the coronavirus outbreak in their countries. They probably are not active in trading temporarily because focusing on thinking about their safety first. So, there is less demand in many exchanges.
- Many investors are selling their assets to prepare the funding needs in anticipation of the coronavirus. So, there is a huge (exaggerated) supply in the crypto market, while less demand at the same time.
- Some whales take advantage to dump the crypto prices and spread FUDs about coronavirus. So, many people feel worried and sell their assets in panic.
- There is a rumor of PlusToken scam that was moving 13,000 BTC (worth $118 Million) yesterday.
Source: https://twitter.com/KevinSvenson_/status/1236672330073595904
*That's what I guess now. How about you, fellas? It will be very appreciated if you have another view (opinions). However, what I said above is just my assumptions.
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