I realise Coronavirus is not a reason why - page 2.

TIDOVEE

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Quote from: SUMBI99 on March 23, 2020, 04:33:41 PM

Bitcoin is Down

As you can remember when the virus spread at the beginning BTC price sharply reaching $9,439 on January 28, 2019, and the markets follow the BTC as always many crypto markets rose up, that means coronavirus favor CryptoMarkets first,

But what makes Bitcoin price go down
As the spread continue people start to panic with the disease not Btc, thinking of many Negatives and some people exchange their Crypto to friendly fiat money so they can cover some emergency staff buys extra food, drinks, masks, etc, the simple view is that many sell result to cheapest sell which automatic kill the prices of an Assets.

How sure are you that it was the Corona Virus that Influenced the initial hype. People are really in need of finances so they couldn't just run into their crypto account for rescue. So much sudden and wasteful sell will be made at this time. I guess after this period price Should be better. Now many will understand that not all sell is panic selling but due to urgent call to meet up with certain needs

BlackFor3st

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Quote from: SUMBI99 on March 23, 2020, 04:33:41 PM

Bitcoin is Down

As you can remember when the virus spread at the beginning BTC price sharply reaching $9,439 on January 28, 2019, and the markets follow the BTC as always many crypto markets rose up, that means coronavirus favor CryptoMarkets first,

But what makes Bitcoin price go down
As the spread continue people start to panic with the disease not Btc, thinking of many Negatives and some people exchange their Crypto to friendly fiat money so they can cover some emergency staff buys extra food, drinks, masks, etc, the simple view is that many sell result to cheapest sell which automatic kill the prices of an Assets.

Yeah it happened really fast because at the time of the crash there are many countries who impose a total lockdown in their area and this might be the reason why the market crashes pretty bad. Preparing for the total lockdown is kind difficult if you have no enough savings that is why other investors were forced to sell their assets in order to prepare for the lockdown.

Foods and medical equipments are what we need to this pandemic in order to stay out from the virus and also a good knowledge on how to stay away from it. But right now the market is slowly recovering and let's just hope that this pandemic will be finish so we can see a better future of crypto by this year 2020.

AniviaBtc

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Quote from: hatshepsut93 on March 23, 2020, 10:42:27 PM

Quote from: SUMBI99 on March 23, 2020, 04:33:41 PM

But what makes Bitcoin price go down
As the spread continue people start to panic with the disease not Btc, thinking of many Negatives and some people exchange their Crypto to friendly fiat money so they can cover some emergency staff buys extra food, drinks, masks, etc, the simple view is that many sell result to cheapest sell which automatic kill the prices of an Assets.

The amount of people who sell their coins to cover their needs is negligible, what happened is that whales/speculators dumped their coins because of the panic on the stock market. So, coronavirus is actually the reason, it's just not a direct reason. Instead of coronavirus -> Bitcoin we have coronavirus -> stocks -> Bitcoin. But this correlation isn't fixed, if the stock market falls a little then Bitcoin doesn't care - it's not repeating every single move.

Isn't it necessary to sell bitcoin if you have nothing left just to survive this quarantine due to Covid-19? Sometimes you just need to sacrifice something, even your coins if you lack of resources as this lockdown is continuously active in our country. You can recover from your losses but it is hard to recover on what this virus can bring and do to your body. Yet we have no information about the cure to this virus and it takes time for it to discover so we have no idea when this pandemic will end. Whales dumped their bitcoin because they see how this virus affect our stock market most especially investors who also experienced downfall in their investment. But I believe that after this virus, everything will go back to its normal state and the price of bitcoin will soon grow again from $7000 to $9000 and above.

michellee

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Quote from: Eugenar on April 09, 2020, 11:46:45 PM

The next time it happens do not be so afraid, just hold your assets and wait until the orice of the different cryptocurrency turn back again.

Panic will make us cannot see the truth, and sometimes we can be blind of what is happens in around us. When the pandemic happens, many people spread fear in social media which make some people who don't know the truth become scared, and they give a warning to their family. One person can affect many people, and that is why we need to ask the government or ask them to explain the real thing that is happening. That can reduce the panicking that occurs in public.

We cannot blame the Covid-19 because if we don't take care of our health, we can be infected too. The virus reminds us to keep healthy and always get health.

peter0425

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Yes it is,Panicking happens because of the spread so the thing is the Virus take effect why people responds like that.
i know that we can't blame the virus but it pushes people to withdraw their money so market turns Red that particular time and also until now the effect is here.

Eugenar

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Quote from: SUMBI99 on March 23, 2020, 04:33:41 PM

Bitcoin is Down

As you can remember when the virus spread at the beginning BTC price sharply reaching $9,439 on January 28, 2019, and the markets follow the BTC as always many crypto markets rose up, that means coronavirus favor CryptoMarkets first,

But what makes Bitcoin price go down
As the spread continue people start to panic with the disease not Btc, thinking of many Negatives and some people exchange their Crypto to friendly fiat money so they can cover some emergency staff buys extra food, drinks, masks, etc, the simple view is that many sell result to cheapest sell which automatic kill the prices of an Assets.

This COVID-19 is the reason why investors pull out there money, which results of going down of bitcoin or other cryptocurrency so basically this virus is responsible on what is really happening on the market, from 13,900 which is the highest value reached by the bitcoin down to 3,900, 10,000 USD ia the difference between two, which is really big, there are so many users of bitcoin who afraid of thinking that bitcoin may be dead because of what happened but always remembered that we had already experienced this thinga but still we are here, bitcoin still remains.
The next time it happens do not be so afraid, just hold your assets and wait until the orice of the different cryptocurrency turn back again.

Latviand

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Quote from: Jating on March 23, 2020, 05:56:07 PM

Quote from: SUMBI99 on March 23, 2020, 04:33:41 PM

But what makes Bitcoin price go down
As the spread continue people start to panic with the disease not Btc, thinking of many Negatives and some people exchange their Crypto to friendly fiat money so they can cover some emergency staff buys extra food, drinks, masks, etc, the simple view is that many sell result to cheapest sell which automatic kill the prices of an Assets.

So with that logic, obviously the panic about the corona virus is one factor that cause a sharp decline on the price of BTC. Well, you can't take out that there could be whales who take advantage of the situation and play us.

Media did also play a part as well, as they reported the spread and probably blow out everything out of proportion. Nevertheless, bitcoin is very strong and resilient, as other markets are still in shock and have difficulty recovering, bitcoin has been bouncing back from $5000-$6500 or more.

What can we do if it is really necessary to convert bitcoin to fiat when you lack of resources during this quarantine? It is how you manage your assets, you will not sell all of your btc, you will just get some amount that will serve as your budget to survive this quarantine. We don't have any idea when this Covid-19 pandemic will end so it can't be that we let ourselves starve for the sake of crypto. Converting some amount will do, but still you will hold your btc because you know htat the price of bitcoin will still recover from $6500 to $10000 or up. Bitcoin is volatile and we also have no idea when this bitcoin will increase its price again so it is better to be prepared in this pandemic than to wait for something that is not certain or unsure.

NavI_027

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Yeah! Btc's price fall down few months ago but that's what I'm not feeling right this very moment. How ironic that our world is currently in the middle of pandemic resulting to economic crisis in different parts of the globe but still the crypto sphere seems so alive. I mean, try to look on the price chart, bitcoin rise by .16% (at the moment) despite of the happenings. We are so blessed

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panganib999

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Quote from: SUMBI99 on March 23, 2020, 04:33:41 PM

Bitcoin is Down

As you can remember when the virus spread at the beginning BTC price sharply reaching $9,439 on January 28, 2019, and the markets follow the BTC as always many crypto markets rose up, that means coronavirus favor CryptoMarkets first,

But what makes Bitcoin price go down
As the spread continue people start to panic with the disease not Btc, thinking of many Negatives and some people exchange their Crypto to friendly fiat money so they can cover some emergency staff buys extra food, drinks, masks, etc, the simple view is that many sell result to cheapest sell which automatic kill the prices of an Assets.

It is true that the wide spread of the Coronavirus pandemic has become one of the contributing factor why the price of Bitcoin as well as the other cryptocurrencies went down recently because of the panic that gets along with the people because of this threat on the health care of the people. Many have decided to convert their cryptocurrencies into fiat despite of the good run the market have beem showing since the start of this year 2020, and the reason that I see is for them to provide their necessities that can only be purchased by fiat money to be able to survive and keep themselves safe from the spreading of this virus. Due to this cut down, the prices have fallen all of a sudden which is already not surprising because cryptocurrency is not just the one being affected by this virus but also the other sectors most specially the economic state of the world.

hotmom

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Not exactly, the coronavirus is the reason why investors are panicking, and because of this, there are other changes

TitanGEL

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Quote from: FlightyPouch on April 08, 2020, 08:43:07 PM

Quote from: Swordsoffreedom on April 07, 2020, 03:47:48 PM

Quote from: Gladiator25 on April 04, 2020, 10:34:41 AM

I think that's normal for the people to panic sell their holding in bitcoin or any other digital coins. Some of us are shocked when the price of the bitcoin adn other cojns drastically changes and going down.
For the situation, many people can't go outside their houses, and many can't even go to work. So, I think they're selling their bitcoin to fiat for them to have their money to be use.

Some of my friends who are professional trader on Binance and Bittrex platform also exchanged their BTC at a lowest price. I asked them why they sold it at such a loss, they replied that they thought coronavirus will badly hit the crypto market like the stock market. So, there are many people who thought that way and sold their BTC at cheapest price. I think this is the main reason for bitcoins price collapsed.

Well, I think it is really inevitable for some people to sell their btcs because of the pandemic despite the fact that it will not directly affect the price of the market. Just look at how the price are now, the price is affected by those scammers of PlusToken sending their scammed btcs to mixers. People would be selling their btcs from panic not just because they don't know what will happen but also because they might need fiat in this lockdown.

Selling bitcoin in this time of crisis is the best thing to do in order to survive. For me it is the best decision because our lives are matter, we can still make investment after this crisis. For those who sell their bitcoins because they do not have money anymore, good job because you manage to do it. Even though you sell it to the low prices, there are still a lot of opportunities that will come here in the cryptocurrency market.

FlightyPouch

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Quote from: Swordsoffreedom on April 07, 2020, 03:47:48 PM

Quote from: Gladiator25 on April 04, 2020, 10:34:41 AM

I think that's normal for the people to panic sell their holding in bitcoin or any other digital coins. Some of us are shocked when the price of the bitcoin adn other cojns drastically changes and going down.
For the situation, many people can't go outside their houses, and many can't even go to work. So, I think they're selling their bitcoin to fiat for them to have their money to be use.

Some of my friends who are professional trader on Binance and Bittrex platform also exchanged their BTC at a lowest price. I asked them why they sold it at such a loss, they replied that they thought coronavirus will badly hit the crypto market like the stock market. So, there are many people who thought that way and sold their BTC at cheapest price. I think this is the main reason for bitcoins price collapsed.

Well, I think it is really inevitable for some people to sell their btcs because of the pandemic despite the fact that it will not directly affect the price of the market. Just look at how the price are now, the price is affected by those scammers of PlusToken sending their scammed btcs to mixers. People would be selling their btcs from panic not just because they don't know what will happen but also because they might need fiat in this lockdown.

MCobian

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It is true that many people who do not understand, consider corona virus the main cause of its falling bitcoin price. Even when the first time
Corona virus appears in wuhan China does not directly make the price of bitcoin down. Even a few weeks after the corona virus first appeared
making the price of bitcoin rise dramatically to $ 10k. So the main cause of bitcoin is down and now there is an economic crisis due to panic
to buy basic necessities. Because the spread of the virus is so fast, making some countries do a lockdown. This is the beginning of the cause
the price of bitcoin dropped dramatically.

Utoy101

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Quote from: Swordsoffreedom on April 07, 2020, 03:47:48 PM

Some of my friends who are professional trader on Binance and Bittrex platform also exchanged their BTC at a lowest price. I asked them why they sold it at such a loss, they replied that they thought coronavirus will badly hit the crypto market like the stock market. So, there are many people who thought that way and sold their BTC at cheapest price. I think this is the main reason for bitcoins price collapsed.

I think the panic sell was around everywhere, although I'm not much of a trader but with the way the whole world was shutting down due to COVID19 outbreak, you wouldn't blame anyone for try to stay safe. Everyone knows how bad it could be if the cryptocurrency market want to get it and i assure you the COVID19 saga was more than enough to make a huge downtrend in the market. Afterall, crisis smaller than that have caused more dip to the market in the past. It is certain that cryptomarket will always rise back but it's not easy seeing ones investment getting dip and dipper

dunfida

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Quote from: Swordsoffreedom on April 07, 2020, 03:47:48 PM

Quote from: Gladiator25 on April 04, 2020, 10:34:41 AM

I think that's normal for the people to panic sell their holding in bitcoin or any other digital coins. Some of us are shocked when the price of the bitcoin adn other cojns drastically changes and going down.
For the situation, many people can't go outside their houses, and many can't even go to work. So, I think they're selling their bitcoin to fiat for them to have their money to be use.

Some of my friends who are professional trader on Binance and Bittrex platform also exchanged their BTC at a lowest price. I asked them why they sold it at such a loss, they replied that they thought coronavirus will badly hit the crypto market like the stock market. So, there are many people who thought that way and sold their BTC at cheapest price. I think this is the main reason for bitcoins price collapsed.

Panic sell is inevitable specially when theres a global crisis thats currently happening and even how experienced you are in the field of trading and investment it cant really be avoided for us not to panic.
We are just humans that do have feelings or emotions that do normally react into situations like this and would have those second thoughts of selling out for your survival or thinking of cutting loss.
We cant really just say that corona isnt the reason why yet we have seen on how it impacts traditional markets that we've known and to presume that all things would be on domino effect.
Good thing here is that we do saw that crypto market is starting to climb up again.

Swordsoffreedom

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Quote from: Gladiator25 on April 04, 2020, 10:34:41 AM

I think that's normal for the people to panic sell their holding in bitcoin or any other digital coins. Some of us are shocked when the price of the bitcoin adn other cojns drastically changes and going down.
For the situation, many people can't go outside their houses, and many can't even go to work. So, I think they're selling their bitcoin to fiat for them to have their money to be use.

Some of my friends who are professional trader on Binance and Bittrex platform also exchanged their BTC at a lowest price. I asked them why they sold it at such a loss, they replied that they thought coronavirus will badly hit the crypto market like the stock market. So, there are many people who thought that way and sold their BTC at cheapest price. I think this is the main reason for bitcoins price collapsed.

btc78

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Quote from: wozzek23 on April 04, 2020, 06:39:23 AM

I don't think I'm going to believe that. Before the coronavirus issue the price of bitcoin was going up and I believe it reached that rate because the coronavirus has not started affecting it yet.

Just like other markets, it didn't start affecting them immediately it came out, it took some time before it started happening. And you saying that people selling is the cause of the decrease, yes that's what led to the decrease, a decrease in the demand and people selling their coins, but what led to people panicking and selling their coins? That's coronavirus. So, how do you now say that coronavirus is not the cause?

actually He is pointing about the panicking and for me this is the effect of the Virus so in totality?it is still the COVID-19 is still the reason of this Bear market.

and look at the market price it seems that it wasn't moving for the last hours?is this the effect of waiting game?investors are taking time to seriously invest again?

Gladiator25

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Quote from: SUMBI99 on March 23, 2020, 04:33:41 PM

Bitcoin is Down

As you can remember when the virus spread at the beginning BTC price sharply reaching $9,439 on January 28, 2019, and the markets follow the BTC as always many crypto markets rose up, that means coronavirus favor CryptoMarkets first,

But what makes Bitcoin price go down
As the spread continue people start to panic with the disease not Btc, thinking of many Negatives and some people exchange their Crypto to friendly fiat money so they can cover some emergency staff buys extra food, drinks, masks, etc, the simple view is that many sell result to cheapest sell which automatic kill the prices of an Assets.

I think that's normal for the people to panic sell their holding in bitcoin or any other digital coins. Some of us are shocked when the price of the bitcoin adn other cojns drastically changes and going down.

For the situation, many people can't go outside their houses, and many can't even go to work. So, I think they're selling their bitcoin to fiat for them to have their money to be use.

carlisle1

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Quote from: SUMBI99 on March 23, 2020, 04:33:41 PM

Bitcoin is Down

As you can remember when the virus spread at the beginning BTC price sharply reaching $9,439 on January 28, 2019, and the markets follow the BTC as always many crypto markets rose up, that means coronavirus favor CryptoMarkets first,

But what makes Bitcoin price go down
As the spread continue people start to panic with the disease not Btc, thinking of many Negatives and some people exchange their Crypto to friendly fiat money so they can cover some emergency staff buys extra food, drinks, masks, etc, the simple view is that many sell result to cheapest sell which automatic kill the prices of an Assets.

so even what you say still it is the Virus why people starts to Panic because this starts to spread world wide that time .

imagine from China the Corona starts growing in all parts of the world that's why Holders reacted and starts selling their Holdings.

added those manipulators that sells all theirs to make the market more shaking and make weak hands crazy afraid of losing more.

wozzek23

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I don't think I'm going to believe that. Before the coronavirus issue the price of bitcoin was going up and I believe it reached that rate because the coronavirus has not started affecting it yet.

Just like other markets, it didn't start affecting them immediately it came out, it took some time before it started happening. And you saying that people selling is the cause of the decrease, yes that's what led to the decrease, a decrease in the demand and people selling their coins, but what led to people panicking and selling their coins? That's coronavirus. So, how do you now say that coronavirus is not the cause?

Topic: I realise Coronavirus is not a reason why - page 2. (Read 830 times)