I realise Coronavirus is not a reason why - page 4.

Assface16678

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Quote from: Twentyonepaylots on March 25, 2020, 01:00:25 PM

Quote from: Kersh768 on March 25, 2020, 12:45:05 PM

It might really be an indirect effect to the market value of cryptos. Actually, it is still blurry for me. There are times wherein I do agree with the hearsays that it is corona virus which mainly affected the market condition at this moment. And by reading other people's opinion, there is really a possibility that the crash recently is due to panic with regards to the problem and not the virus itself.

It is an indirect effect of the virus until it got severe in some major countries that builds up the crypto space like China, again I would like to use the word 'underestimate' since we did not thought of it before and getting prepare for the next year coz all we did is wishing that 2020 will going to be a great year for all of us. The decline is merely due to panic that most people have felt when things are getting out of hand especially in epicenter, China but now the new is Italy. Some of us don't believe that the virus impacted the decline, coz there is no data because of decentralized but again the virus has the most possible reason why we are experiencing these things right now.

The market price of the bitcoin drops because of the outbreak happens in the world and this is not quite good because many investors made an investment while the market price is too high that is almost 9k dollars and now it is immediately down into 3.9k dollars and that is lost so it is better to hold your coins until the issue of the virus are still on the top and also it is better to keep safe into your houses to prevent spreading the outbreak too also the market price of the bitcoin always declined by the trader but still we need to support this if we make some changes.

Youghoor

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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.

Twentyonepaylots

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Quote from: Kersh768 on March 25, 2020, 12:45:05 PM

It might really be an indirect effect to the market value of cryptos. Actually, it is still blurry for me. There are times wherein I do agree with the hearsays that it is corona virus which mainly affected the market condition at this moment. And by reading other people's opinion, there is really a possibility that the crash recently is due to panic with regards to the problem and not the virus itself.

It is an indirect effect of the virus until it got severe in some major countries that builds up the crypto space like China, again I would like to use the word 'underestimate' since we did not thought of it before and getting prepare for the next year coz all we did is wishing that 2020 will going to be a great year for all of us. The decline is merely due to panic that most people have felt when things are getting out of hand especially in epicenter, China but now the new is Italy. Some of us don't believe that the virus impacted the decline, coz there is no data because of decentralized but again the virus has the most possible reason why we are experiencing these things right now.

Kersh768

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It might really be an indirect effect to the market value of cryptos. Actually, it is still blurry for me. There are times wherein I do agree with the hearsays that it is corona virus which mainly affected the market condition at this moment. And by reading other people's opinion, there is really a possibility that the crash recently is due to panic with regards to the problem and not the virus itself. Since establishments are being forced to close at the moment, as well as works of different fields, people might panicked, resulting and making them sell their holdings jn a sudden to prioritize daily needs.

CarnagexD

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My country faced big problem with corona virus and make many people increase more every day and one hundred people got corona each day announce here, I hope this virus could stop soon and get back our activities and hope many people got corona virus back well soon and take their activity and looking for job.

There are a lot of people getting affected rapidly by the virus and this is not good because many people getting more panicked and can cause of being doomed about this outbreak still we are seeing other people getting well after they are getting affected and some of the people better to stay into your houses because we are avoiding the pandemic virus spread more it is better to be secured about your health. After this virus, there is a chance that the market price in the stock market will come back to normal and also the cryptocurrencies becomes profitable again that we can earn more income with the help of it but still it takes time before all the things become recover, keep safe guys.

Soldierswitlittlefaith

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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.

"....bitcoin has been bouncing back from $5000-$6500 or more....."

for sure.

hatshepsut93

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Quote from: Questat on March 25, 2020, 08:26:09 AM

I think it was the plus token scam bitcoins dump initiated the panic, with that big dump it's normal that the market will be shaken and the whales played their role to create more panic and bitcoin dump as low as below $5,000.. but after days of waiting, bitcoin pump and brought the price to $6000+ now, which I believe it should not recover if people are panic on the corona virus.

There were reports about plus token dumping during the previous market declines, but none of them were as severe as this recent one. There's no way plus token is solely responsible for it, it was clearly a reaction to the stock market crash. Investors were pulling their money out of everything, and with how unstable Bitcoin is, it's logical that it got hit very hard with this wide panic. Similarly, altcoins declined ever harder, because they are even more riskier than Bitcoin.

Slow death

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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

coronavirus did not favor bitcoin. what happened in my opinion was that with the attack that the US made when it killed the iranian general people thought there would be a war and that caused the bitcoin price to start to increase a lot

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.

and add to the fact that many people are worried about fighting to survive this disease which makes them not think about buying bitcoin to hold

Questat

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Quote from: alexsandria on March 25, 2020, 07:21:37 AM

We can't deny the fact that the Coronavirus ir the covid19 was the main reason why the bitcoin and the market suddenly dumps but maybe it is one of the reason why.

I think it was the plus token scam bitcoins dump initiated the panic, with that big dump it's normal that the market will be shaken and the whales played their role to create more panic and bitcoin dump as low as below $5,000.. but after days of waiting, bitcoin pump and brought the price to $6000+ now, which I believe it should not recover if people are panic on the corona virus.

kryptqnick

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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's not the virus in the sense that the virus does not infect Bitcoin and cannot spread when Bitcoin transactions are made. However, it is the virus media coverage. Even though you're right that the COVID-19 thing has been going on for a while before the price went drastically down, there was a very clear event that was closely followed by the fall of the prices: WHO announcing COVID-19 is a pandemic. Moreover, the situation has been changing a lot in various countries with new restrictions appearing every day, and the virus seriously affecting the lives of at least hundreds of millions of people.

alexsandria

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We can't deny the fact that the Coronavirus ir the covid19 was the main reason why the bitcoin and the market suddenly dumps but maybe it is one of the reason why.
The point or the thing the I want to point out is it is also because of the reason that the bitcoin halving is coming and that's why the bitcoin and the market is currently down or dumping. Remember that the Bitcoin Halving is near so we should think about yhis reason or case too.

LEON331300

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True, Bitcoin has really fallen, along with other stable coin. The COVID-19 pandemic cannot fully account for it, but has key role to play. Coin holders are scared and loosing trust in cryptocurrency

so98nn

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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.

Exactly. I am not sure how this thing is going to be in the future. All the countries have shut off their business doors, borders and to the level of colonies everything is stopped.

Its just about the time when healthcare industries will be suffered too and thus the corona virus will overload the whole world.

I am dam sure about one thing, Bitcoin wont matter at that time and thus its gonna go down a lot as people will have to save for their doomsday!

So bitcoin is really secondary thing and no one has predicted the future of Corona Virus. It can seriously disturb the whole Humanity.

isaac_clarke22

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Quote from: Bitcoin_Arena on March 23, 2020, 05:20:25 PM

Your Title and body of the post are contradicting. All in All The CoronaVirus outbreak has a part to play in the recent Massive Bitcoin Price drop. If you try denying that, then you totally don't know the economical aspects of bitcoin and stock markets.

Well in terms of investment both are kinda similar so it is not that surprising that Bitcoin will go down along the fall of stock market. We shouldn't panic though as it is just a normal thing to happen and pretty much after this issue, we're all gonna see the green in the charts pretty much soon, but right now we should resist and just hodl. If people have the buying power to buy BTC right now, it would be great for them after this crash recovered.

Meowth05

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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.

Ridwan Fauzi

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At that time coronavirus hasn't been spreading only in wuhan which the virus came from.

But when the virus spreaded in some countries like South Korea, Japan, Singapore and other countries bitcoin price was starting to decline slowly.

I guess and I believe that corona virus in one of the reason why bitcoin and crypto currencies fell in price. The investors have known that the situation will be interfered economic situation and they were right.

maxreish

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Investors tend to sell their btc they have to buy their own necessities because of this crisis caused by corona virus. So, basically it is still the reason (the pandemic crisis) why majority of them sold their btc even at low rate. But it seems that bitcoin is going up now. Panic sellers were lessen now. And you can't blame them. Most of them really need something to stock with, something to eat to survive in this cruel situation we are facing.

Mulann2

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It is always people's reaction that affect the market both in positive or negative way, of course, at the earlier stage of the virus the market was still doing fine, by then there was no tension in the midst of the people, but when the news keep coming about the widespread of the virus, many people start making plans for the future,
In this case, once the virus is maintained to the lowest level maybe the market will regain it's full strength.

kayvie

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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.

As you have said, when the virus spreads, people start to panic.
It should be clear to you that it is the main reason, not exactly the virus but its effect on the economic status of every country and also to every individual. People are losing their jobs or stop going to their work, etc.

LEON331300

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Quote from: Bitcoin_Arena on March 23, 2020, 05:20:25 PM

Your Title and body of the post are contradicting. All in All The CoronaVirus outbreak has a part to play in the recent Massive Bitcoin Price drop. If you try denying that, then you totally don't know the economical aspects of bitcoin and stock markets.

That's supposed to make the post catchy and attractive. It's a writing skill.

Topic: I realise Coronavirus is not a reason why - page 4. (Read 830 times)