Topic: I realise Coronavirus is not a reason why (Read 830 times)

Right, that's a very logical reason. This crisis caused difficulties in various aspects. Inevitably, some people sell assets to get fresh money, to sustain life during this pandemic. So it's not because of the loss of trust in cryptocurrency, this is just an attempt to survive in a difficult situation.

I feel very sorry for your country but everything hopefully will be fine and some investors on Bitcoin in that part of the world will come and continue with their investments recover financially and healthy

here is something to think about.

9/11 inside job   <<<<<<<<< no planes internal explosion
2008 crash inside job   <<<<<<<<  not a natural crash, they sacrificed their own Lehman to start it.
bitcoin inside job   <<<<<<<<   no satoshi, it was developed by a team of computer scientists working for NSA / DARPA
covid19 inside job  <<<<<<<  no virus, inflated numbers of pneumonia and fake line ups at hospitals to start a crash and roll out a new liberal world order , find the doctors blowing the whistle on youtube and bitchute.

At the end of all these you find the same people. a globablist cabal building up and using nations to fight each other with the solution always promised by them.

the dollar crashing and central banks closing is myth and old news. BTC was myth/scam born out of 2008 financial crash and it made sense back then to use these selling points to get BTC on the map.  This is long debunked and over, most of you are so late on the info here as its pro BTC forum but if you do your research you'll find bitcoin is the central bank.

Bitcoin created a false hope that the dollar or central bank was going away or was due to crash and this would be the alternative, yeah lol that's a good one. If it does crash, the owners walk away with the world and you're left holding stale bread. But people here are stupid or invested and always claim otherwise.  I'm sure now with all the regulation you can see that BTC is not the saviour and never has been. Just as the war on terror wasn't meant to free to middle east from bad people.

By the way I know most of you here are dumb but has anyone been paying attention to U.S monetary ??  the fed has been sucked up by Donald and isn't even independent or jew run anymore. How does the BTC theory still fit ? It does't that's why only Asians are pumping now and a few western traders, or traitors if you will. The rest is owned by the same people who own or work or trade for the central system.

Good luck holding a global currency that's completely unsuable for anything other than buying drugs, trading or digging your own grave towards a more centralized cashless system.

I agree, and it's what I keep saying when people say, "Oh, I hope the world ends and the banks all die and economies crash because then Bitcoin would be worth $1 million". If all that bad shit happened, people would be buying food and essentials. Toilet paper maybe even, not hoarding even more bitcoin. Besides, if fiat truly collapses, then $1 million won't be worth squat.

It is true that there are now some incidents that they are selling their bitcoins because of the lockdown. I saw a thread in this forum which he said that he is from new york and he need cash and it is the reason why he sold his bitcoin. There are some reasons why the price of the bitcoin goes down when the Coronavirus strikes in the wolrd economy. The trend is still in bearish and there will be a high chance that the price will become more cheaper due to the withdrawing of some investors.

Based on the movements, I think we will be starting the halving with a $6K price. The rose to $7.3K but it goes back to $6.8K now. It can go higher but I don't think it will ever leave the territory of $6K price mark. Since bitcoin is not directly affected by the pandemic, I think we should not be panicking about the price of bitcoin.

I have feelings that it will still go lower than what we are seeing now.

The halving will soon take place.

When the whole world's economy is down, all the stocks markets are crashing, Gold, silver and oil are at their lowest rates, then how can bitcoin remain stable or move upwards. Bitcoin is also dumping because of all these world crisis, but I think the bitcoin dump is not as much severe as other markets and stocks.

The virus is not the direct cause of the drop in prices. The real reason is the economic cuts and shutting down the borders buy the governments.

The world economy was hit greatly because most things are manufactured in China. If you cannot run production there are shortages and you could be facing bankruptcy. That's why people started selling stocks of companies they were afraid could go bankrupt and this made Bitcoin crash because people saw the stock market falling and sold all their investments without thinking.

I don't quite understand what your point is. You say in the title that Coronavirus is not the reason but in the OP you mention that the price went down when people started to panic due to Corona.

Anyway, there would have been many factors as to why the price of bitcoin went down but we can see now that the situation is getting better daily.
The price of bitcoin has been recovering recently is at $7300 now. This is a good sign in such a bad condition throughout the world.

We never know what each other situation, some were lacking of resources as their job were stop and might already lose or spend their  savings that they will need to cashout from their other investments. At times like this we need to secure cash as we never know until when the situation will be. But for sure the price of BTC will still go up as other were take this chance to buy more, lucky those who able to save a lot and can buy at this rate.

The Coronavirus itself didn't affect the cryptomarket. It's all our panic around the disease.

Coronavirus greatly influenced the price of bitcoin and other currencies, too, so the fact that its price did not immediately fall does not mean anything. Market reaction is not always instant.

I think this really depends since why would you sell if you can provide and support your family and your selves in this pandemic or this ECQ. It is right though, people should really prioritize themselves than their investments. You can do your investments, trades, and bets in the future. Always remember that a dead person can't do that.

corona virus doesnt have any effect on the price actually. Maybe a bit because of the mining

Not only bitcoin but most traditional investment have the same thing. Most of the traditional market decreased as well because they will consider that the economic recession will come. So as they will turn their asset to safe heaven place like gold and land. But I think it was just give a few change for bitcoin, like a day ago we can see the volatility of bitcoin price was happened again and its price has touched $7200 barrier again. That is not happened to another investment place, most of them only stay at the current price when their price decreased a lot. I hope this pandemic get it over with, seem like the halving event is ready to come and many people there have been waiting it.

There are other reasons. There are always other reasons for the crypto market.

BTCitcoin's price was affected by many things that are being discussed here, I remember when I saw that Coronavirus was declared a pandemic. My first thought was: "It is the last thing that was missing, we have been dealing with the market situation, the volatility of Bitcoin and now we have a serious problem what is affecting global health."
But amid the difficulties, opportunities arise, and Bitcoin could play an important role in providing solutions.

How sure are you about what you are saying. The price of bitcoin was going up, yes, but it still got affected by the pandemic, although I do know that the pandemic wasn’t the only thing that affected the price of Bitcoin and the cryptocurrency market as a whole.

There are other things that could have affected the price of Bitcoin and not just the pandemic, a lot of things happened and that includes the oil price war that we have seen recently which seems to be having no end yet. And like that’s not enough, the PlusToken scam took place. So, all these things out together are what affected the price of Bitcoin to go low. I know there are other things as well and not just this.