I realise Coronavirus is not a reason why - page 3.

Kelvinid

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win lambo...

Quote from: schuriken on March 30, 2020, 01:50:50 PM

Quote from: SUMBI99 on March 23, 2020, 03:33:41 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.

bitcoin price was in a good shape in chart ! after corona news first oil then stocks start to go low after 1/2 day btc start to get low also.personally i think whales start to sell 1)panic of all investors 2)to tell world bitcoin is just like rest of things witch btc will shape also with news .and i think this action make a good biuld for starting btc price for moon price.

The entire global market is badly affected by this pandemic. The economic system of almost every country that is affected by coronavirus went down due to panic selling and the bad thing is that even online investment including crypto had still suffered such downfall. I can't imagine how many people suffered such a virus and kill many people. Ain't no wonder why many were in panic selling and buying just to save their family.

Despite the economic growth decline, we are still able to stabilize and can't even drop harder below $4k. This means that many Bitcoin holders are still keeping their asset rather than being infected as a panic seller.

TheAndy500

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Quote from: XCANA on March 30, 2020, 03:00:34 PM

The price of Bitcoin was down before the scourge of the coronavirus but many have thought that the fall of cryptocurrency was as a result of the coronavirus. The effect of the coronavirus was not targeted to the cryptocurrency market but to all the world economy, today many nations are facing economy woes who which will definitely lead to recession in the world. The stock market was also affected and others. The problem about the downfall in the price of Bitcoin was the weaker hands that started selling their portfolios to the manipulators. Thus crashed the cryptocurrency market and not coronavirus.

In my opinion, you have perfectly explained why coronavirus had an impact on the price of Bitcoin. This did not happen directly but indirectly for the two reasons you mentioned. First, the crisis of the world economy began, which was caused by the coronavirus. The economic crisis has caused panic on the classic stock exchanges and, consequently, also on the cryptocurrency market. People in times of crises get rid of investment and prefer to keep cash. I think that the price drops on the cryptocurrency market are not over yet, because panic is not over. I think it will be the main reason for further price drops.

XCANA

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The price of Bitcoin was down before the scourge of the coronavirus but many have thought that the fall of cryptocurrency was as a result of the coronavirus. The effect of the coronavirus was not targeted to the cryptocurrency market but to all the world economy, today many nations are facing economy woes who which will definitely lead to recession in the world. The stock market was also affected and others. The problem about the downfall in the price of Bitcoin was the weaker hands that started selling their portfolios to the manipulators. Thus crashed the cryptocurrency market and not coronavirus.

schuriken

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Quote from: SUMBI99 on March 23, 2020, 03:33:41 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.

bitcoin price was in a good shape in chart ! after corona news first oil then stocks start to go low after 1/2 day btc start to get low also.personally i think whales start to sell 1)panic of all investors 2)to tell world bitcoin is just like rest of things witch btc will shape also with news .and i think this action make a good biuld for starting btc price for moon price.

mdzahed134

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Quote from: Questat on March 26, 2020, 12:56:08 AM

Quote from: Youghoor on March 25, 2020, 01:25:01 PM

That's a candid explanation about the crush of this market @OP but I still think in a way the fear that this virus spread around the world cause this crash. For instance, if governments had not announced lockdown in various countries people would not have sold their bitcoins out of panic.

The lockdown is expected because it's the right strategy to minimize the spread of the virus, and more countries are in lock down right now, but look at the value of bitcoin, it does not dump anymore, so I'd like to believe that crypto is not correlated to stocks and it will grow regardless of the situation.

We are in global crisis right now but we have the crypto market which is a good option as a payment method, in fact some people are accepting bitcoin as a donation and in this time, it's easy to use bitcoin to send money in different border of the world.

Absolutely, if Convid-19 pandemic is spreading almost hundreds of countries, so lockdown is needed urgently and it’s already happened in mostly countries i see. Bitcoin payment method can help strongly to raise money. Btc price still looks uptrend, i don’t know why most of people’s are getting panicked for these market condition. BTC will highly capable method for donation because it’s a accessible from anywhere.

tbterryboy

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I am not going to doubt what they have said, I’m just going to have faith that the pandemic is going to end even before that month of June Roll Eyes

, it already feels like a year lol. And probably there is going to be change in the market once the pandemic has stopped or maybe the changes might even take place before then and the prices of stocks, oil, cryptocurrencies and other assets will start to recover.

I am most worried about the virus spreading in countries where there are no good healthcare, it might be worse in those cases, they better find a way to prevent such from happening.

Kurokonobasuke

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Hmm, the construction of your topic title are very vague as with the connection with your thoughts. As far as I know, the coronavirus is the primary crisis on what this situation are happening. Before the coronavirus spreads throughout the world the price of bitcoin are almost 10,000$, but when the virus starts, many people around the world are panic selling at a cheap price. That's why the price of the bitcoin are rapidly fell.

kro55

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*STOP NOWHERE*

Quote from: lienfaye on March 28, 2020, 04:34:01 AM

Quote from: SUMBI99 on March 23, 2020, 03:33:41 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,

Because its not a threat at first to many people and it seems an ordinary virus that cant spread worldwide but the situation became different few months later.

People need cash to spend for primary needs so they sell their assets thats why the market crash (I believe this is the reason) because after the situation turn to worse the market declined. Nevertheless its good to see cryptos bounce back even most places are in lockdown, people might be looking for an opportunity to still earn while at home or they are using crypto for remittance.

I don't think regular people caused the crash (people who need fiat money to buy food and masks). But rather big investors and whales who simply used the virus panic to crash Bitcoin price and they bought back at the bottom at half price.

lienfaye

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Quote from: SUMBI99 on March 23, 2020, 03:33:41 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,

Because its not a threat at first to many people and it seems an ordinary virus that cant spread worldwide but the situation became different few months later.

People need cash to spend for primary needs so they sell their assets thats why the market crash (I believe this is the reason) because after the situation turn to worse the market declined. Nevertheless its good to see cryptos bounce back even most places are in lockdown, people might be looking for an opportunity to still earn while at home or they are using crypto for remittance.

Hypnosis00

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Quote from: thesmallgod on March 27, 2020, 02:38:38 PM

There are many reasons people have identified as the major reason for the crash. While many of these reasons such as crypto scam, whales, etc. are general reasons which are known before. The COVID-19 pandemic is also part of the reason behind the fall. A lot of people panicked and sell off their crypto for foods and sanitary materials which also add to the reasons.

But to believe or not, the recent market dump is mostly because of the coronavirus where more people are in panic selling, converting it in fiat money in order to buy stuff and other necessities. Think this could be wise and smart moves? Maybe it will. We know how many people struggled and face market difficulties making them no choice but to sacrifice their holdings.

This thing never lasts forever and we know that there still room for crypto to grow. Yet, it can't be instant and it takes a while but something we don't need to lose our hopes and keep positive the same thing that this pandemic health issue will be over soon.

Maestro75

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Quote from: 687_2 on March 23, 2020, 04:17:43 PM

Now, Bitcoin is artificially cheap, and real hodlers are loading up before the upcoming massive price pump.

Am just as hopeful as you are that there will be a price boom soon and am banking on the Bitcoin halving for this activation. However, we really can not for certain know how things will go when it comes to cryptocurrency and bitcoin.

Quote from: Bitcoin_Arena on March 23, 2020, 04:20:25 PM

Your Title and body of the post are contradicting.

It is likely the OP did that to captivate readers to the thread. Not bad a strategy in the media

thesmallgod

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There are many reasons people have identified as the major reason for the crash. While many of these reasons such as crypto scam, whales, etc. are general reasons which are known before. The COVID-19 pandemic is also part of the reason behind the fall. A lot of people panicked and sell off their crypto for foods and sanitary materials which also add to the reasons.

bearexin

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Not when the virus spread began, the price of Bitcoin and other cryptocurrencies has been going up even before then and they kept going up the day it started, and that’s the same thing with stock markets. But after the case got serious, that’s when it started affecting every market. Although there were other underlying causes that led to the decrease in the price of Bitcoin, the pandemic was part of it.

There are other things we heard as well and not just the Covid-19 outbreak, and I have been seeing some articles on Forbes and Cointelegraph that have stated different reasons, but whatever...

pixie85

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Quote from: Oasisman on March 26, 2020, 01:33:42 AM

Quote from: Youghoor on March 25, 2020, 01:25:01 PM

That's a candid explanation about the crush of this market @OP but I still think in a way the fear that this virus spread around the world cause this crash. For instance, if governments had not announced lockdown in various countries people would not have sold their bitcoins out of panic.

Again, It is not just the corona virus that causes the value of Bitcoin to crash. If you're not aware there was a massive plus token scam and dump happened just after the worst spread of corona virus all over the world.
The pandemic is just another factor why the market is struggling right now.
As you can see Bitcoin is gradually recovering because cryptocurrency has no direct relation with the pandemic unlike the stocks.

That's completely unrealistic if you compare a number of facts.
1. The amount that was stolen by the scammers.
2. The average daily volume on exchanges.
3. The time when plus token was found selling which was somewhere in May or June of 2019.

They wouldn't be able to cause a crash like that because the amount of coins they had was too small. Especially in 2020 when they were already out of coins or mostly out.

fiulpro

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See ,
No one can fully tell what's the reason because at the end of the day , it is a decentralized Currency , you cannot point the reason out ever.

Even the US have just pushed the plan of digital dollar a little faster, so because of that many news companies are claiming that Bitcoins is going to die.

One problem with Bitcoins is their unpredictability and also at the same time you cannot be sure so as why this is happening , so don't worry much about the reason.

It's just that the whole world is suffering.

rodskee

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Quote from: SUMBI99 on March 23, 2020, 03:33:41 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.

at first yes it is not Corona who makes the Bitcoin price because the Virus has been in effect from December 2019 but its just this month makes this pandemic the whole world so the effect in crypto market is just later felt.
from March second week the Virus becomes Pandemic and the death toll comes very Huge and now is making people quarantined in their own houses and made also panicking from this infectious virus.

Oasisman

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Quote from: Youghoor on March 25, 2020, 01:25:01 PM

That's a candid explanation about the crush of this market @OP but I still think in a way the fear that this virus spread around the world cause this crash. For instance, if governments had not announced lockdown in various countries people would not have sold their bitcoins out of panic.

Again, It is not just the corona virus that causes the value of Bitcoin to crash. If you're not aware there was a massive plus token scam and dump happened just after the worst spread of corona virus all over the world.
The pandemic is just another factor why the market is struggling right now.
As you can see Bitcoin is gradually recovering because cryptocurrency has no direct relation with the pandemic unlike the stocks.

Reatim

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Quote from: SUMBI99 on March 23, 2020, 03:33:41 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,

I believe that is January 28,2020 and not 2019?because in that date Bitcoin falls at $3000 level so better edit that part 😂

Quote

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.

Because the people that formerly holds bitcoins starts selling their fund and convert to fiat for the reason of being scared of the effect of this pandemic ,and i know many of us here relates on this as majority of us make withdrawals when the dump starts happening.

gabbie2010

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Quote from: Meowth05 on March 25, 2020, 02:35:38 AM

There are other factors that play whenyou are considering the plummet of bitcoin but I think that some factors are rooted with the pandemic, we can't blame the people who are selling their holdings at this time. Maybe they are in dire need for necessities which we all should understand.

In this period a lot of people used their crypto in exchange to Fiat to buy and stockpile foods and other essential stuffs while on lockdown the sudden decline in the price of Bitcoin indicated a lot of sellers of crypto assets I agreed with you on while all the necessities that can cushion any effect of the lockdown on the daily lives of hodlers is a welcome development.

Questat

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Quote from: Youghoor on March 25, 2020, 01:25:01 PM

That's a candid explanation about the crush of this market @OP but I still think in a way the fear that this virus spread around the world cause this crash. For instance, if governments had not announced lockdown in various countries people would not have sold their bitcoins out of panic.

The lockdown is expected because it's the right strategy to minimize the spread of the virus, and more countries are in lock down right now, but look at the value of bitcoin, it does not dump anymore, so I'd like to believe that crypto is not correlated to stocks and it will grow regardless of the situation.

We are in global crisis right now but we have the crypto market which is a good option as a payment method, in fact some people are accepting bitcoin as a donation and in this time, it's easy to use bitcoin to send money in different border of the world.

Topic: I realise Coronavirus is not a reason why - page 3. (Read 846 times)