Topic: Is Covid-19 a cause for BTC price drops? (Read 856 times)
This time bitcoin already pairs with currency, it will make volatility in big number if currency fall. Until now only this reason I believe become answer why bitcoin fall about your list is the effect economy slowly and make currency lost value. For your question I will say " yes " and this is not a good time to keep looking the reason but how to deal with it. Life keep go and we should follow it, stuck in economy fall is bad but doing nothing is worst.
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I think the panic is over, people have already accepted the fact that covid-19 is very dangerous and they are now cooperative with the government.
Though the number of cases are still increasing, but not as big as in first few weeks when this is declared as pandemic.
In our country, we are also affected but we learn to stay at home and we just adjust our lifestyle.
I know soon enough, the vaccine will be discover and we will end this once in a while.
Though the number of cases are still increasing, but not as big as in first few weeks when this is declared as pandemic.
In our country, we are also affected but we learn to stay at home and we just adjust our lifestyle.
I know soon enough, the vaccine will be discover and we will end this once in a while.
Agreed with you. However The covid-19 is still spreading and killing people from all over the world. But regarding to Bitcoin, the panic is over and the price successfully recovered.
I guess people celebrate their profit for a while after they can sell their bitcoin at $9,300, and they still trying to make another profit from the up and down of the price. We hope that people are not panic if the drop is happening because they already know that is what will happen with the bitcoin market. After the price touch the high price, the price will get a correction to set the new price before the price increases later.
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We are going through a bad situation now. Panic is growing every day. The world economy is going bad, no one knows what to expect in the days ahead. All the markets have already crashed stock, oil, bitcoin. But Bitcoin has recovered well again in a quick time. Bitcoin halving is coming. And history says Bitcoin started the real run after halving. So still hope bitcoin will stay in its position well.
I think the panic is over, people have already accepted the fact that covid-19 is very dangerous and they are now cooperative with the government. With that been said, as covid-19 is concern panic is over but with the lockdown and increase in number of death world wide which is now said to be 3Million while 239,029 death was recoreded today people are panic to invest their fund and what some are doing most now is helping the needy people. This the reason why stock, oil etc are affected while bitcoin is exempted due to it features.
I think the panic is over, people have already accepted the fact that covid-19 is very dangerous and they are now cooperative with the government.
Though the number of cases are still increasing, but not as big as in first few weeks when this is declared as pandemic.
In our country, we are also affected but we learn to stay at home and we just adjust our lifestyle.
I know soon enough, the vaccine will be discover and we will end this once in a while.
Though the number of cases are still increasing, but not as big as in first few weeks when this is declared as pandemic.
In our country, we are also affected but we learn to stay at home and we just adjust our lifestyle.
I know soon enough, the vaccine will be discover and we will end this once in a while.
Agreed with you. However The covid-19 is still spreading and killing people from all over the world. But regarding to Bitcoin, the panic is over and the price successfully recovered.
We are going through a bad situation now. Panic is growing every day. The world economy is going bad, no one knows what to expect in the days ahead. All the markets have already crashed stock, oil, bitcoin. But Bitcoin has recovered well again in a quick time. Bitcoin halving is coming. And history says Bitcoin started the real run after halving. So still hope bitcoin will stay in its position well.
This pandemic indeed affect all of us and it seems the time stop because of the lockdown. Our busy days turn to staying at home to prevent ourselves getting infected and its really hard specially if you have no savings to spend during this trying times. But despite of that crypto market gave us light to have hope for our investment. Our economy is not doing good but crypto market managed to bounce back after the sudden dip. Its a sign that good things will going to happen in crypto and after the lockdown is lifted so stay positive. 
We are going through a bad situation now. Panic is growing every day. The world economy is going bad, no one knows what to expect in the days ahead. All the markets have already crashed stock, oil, bitcoin. But Bitcoin has recovered well again in a quick time. Bitcoin halving is coming. And history says Bitcoin started the real run after halving. So still hope bitcoin will stay in its position well.
I think the panic is over, people have already accepted the fact that covid-19 is very dangerous and they are now cooperative with the government. Though the number of cases are still increasing, but not as big as in first few weeks when this is declared as pandemic.
In our country, we are also affected but we learn to stay at home and we just adjust our lifestyle.
I know soon enough, the vaccine will be discover and we will end this once in a while.
We are going through a bad situation now. Panic is growing every day. The world economy is going bad, no one knows what to expect in the days ahead. All the markets have already crashed stock, oil, bitcoin. But Bitcoin has recovered well again in a quick time. Bitcoin halving is coming. And history says Bitcoin started the real run after halving. So still hope bitcoin will stay in its position well.
If you checked the historical data, you should have seen that halving does not mean automatically the start of a bull run. This is one of many factors and its influence is noticeable only over time. I do not think that halving will be able to dramatically "overcome" the general negative conjuncture in the economy.
I agree with you. It is not right to think that all the halving will create a bitcoin bull market. Because a lot depends here. From what I said, we can expect Bitcoin to be in a better position after halving. Here I did not say sure bitcoin will be in a good position. Another thing that comes to my mind is that there is no guarantee that history will repeat itself every time. We can see the real result after halving, so it would be better to wait now.
We all know that covid 19 virus is the cause of all these crisis, from world economy to cryptocurrency covid 19 has made a huge impact to not only on stock market price but even on bitcoins price.
Covid made huge impact to stock market yes, but to cryptocurrency? Nope. The pandemic does only a minimal impact to cryptocurrency. What causes the huge drop is the plustoken scam and dump last month.
If the pandemic has huge impact in cryptocurrency, we shouldn't have seen a gradual price recovery since the pandemic became worse day by day.
The price movement of Bitcoin is considered normal and It wasn't really badly affected by the pandemic. We experienced a correction and now the price is recovering. If you're in crypto space for more than 2 to 3 years you've already know it's kinda normal stuff in here.
We are going through a bad situation now. Panic is growing every day. The world economy is going bad, no one knows what to expect in the days ahead. All the markets have already crashed stock, oil, bitcoin. But Bitcoin has recovered well again in a quick time. Bitcoin halving is coming. And history says Bitcoin started the real run after halving. So still hope bitcoin will stay in its position well.
If you checked the historical data, you should have seen that halving does not mean automatically the start of a bull run. This is one of many factors and its influence is noticeable only over time. I do not think that halving will be able to dramatically "overcome" the general negative conjuncture in the economy.
We are going through a bad situation now. Panic is growing every day. The world economy is going bad, no one knows what to expect in the days ahead. All the markets have already crashed stock, oil, bitcoin. But Bitcoin has recovered well again in a quick time. Bitcoin halving is coming. And history says Bitcoin started the real run after halving. So still hope bitcoin will stay in its position well.
I think Covid-19 had no effect on pricing in the cryptocurrency market, but on the whole, of course, it was reflected very strongly on the economy, and not for the better.
Maybe yes and maybe not, because even lately the price of bitcoin can be said to get a recovery and I think this recovery is related to the approach to the halving event later, so, I don't think we can also assume the decline that occurred earlier due to the impact of the pandemic. because at least there are other factors such as a correction that will certainly occur before the recovery, because if the decline that occurs is not accompanied by recovery as it is now, then the decline that may occur purely due to conditions that are getting worse because of the pandemic.
We all know that covid 19 virus is the cause of all these crisis, from world economy to cryptocurrency covid 19 has made a huge impact to not only on stock market price but even on bitcoins price.
Hmm Covid-19 is very much reason to falling bitcoin price. Eventually not only bitcoin but also others majors currency price also dropped because of Covid-19.It actually destroyed all investment & investors. Stock exchange also affected by Covid-19.So overall as you said Covid-19 is the main reason to drop of markets.
Although it is true, the crypto has already risen for a small price. I think the drops are because people panic selling their assets, so that makes the market chaos, and that cause the crypto market getting the impact too. But we don't have to worry because everything will be normal again. It is the best time to buy more because the price is not too high.
Hmm Covid-19 is very much reason to falling bitcoin price. Eventually not only bitcoin but also others majors currency price also dropped because of Covid-19.It actually destroyed all investment & investors. Stock exchange also affected by Covid-19.So overall as you said Covid-19 is the main reason to drop of markets.
I agree that covid -19 destroy the worlds economy,,even crypto suffered from price drops, but i think as the world is slowly healing ,btc price will also recover as the day passes.
The world is affected a lot, traditional investments like stocks suffered a lot but crypto did suffer in just a very short time and now it's recovering, this makes us think that crypto is not fully correlated with stocks because crypto is quite healthy now. 
I agree that covid -19 destroy the worlds economy,,even crypto suffered from price drops, but i think as the world is slowly healing ,btc price will also recover as the day passes.
Dollar is a far larger market, not recorded on a public register like BTC is and overall a far better cover for any untraceable payments. Governments prefer digital payments for easier tracking of FIAT but theres plenty of paper available still.
BTC isnt fractional, all the units circulated are moved whole from address to address between people so this kind of unwinding is not the same, the two monetary types probably have different dynamics to them. I see a large amount of new cash introduced to most major currencies, I dont think there is going to be less units in circulation. Value could fall, that'd match inflation and quite possibly BTC appears as a ratio higher price.
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it has caused the drops in the price of Bitcoin and the entire economy.
Im not sure thats the case for online transactions really, I'm still buying the stuff I used with crypto same as always because its digital anyway What we're really referring to is deflation or contraction in monetary velocity as less business is done the economic base would contract. Because FIAT is a fractional reserve currency, contraction is deleveraging which raises the worth of the currency.BTC isnt fractional, all the units circulated are moved whole from address to address between people so this kind of unwinding is not the same, the two monetary types probably have different dynamics to them. I see a large amount of new cash introduced to most major currencies, I dont think there is going to be less units in circulation. Value could fall, that'd match inflation and quite possibly BTC appears as a ratio higher price.
And it seems to me that the rate will grow because now scammers and corrupt officials will launder their money faster and will buy bitcoin to hide their dirty business.
You're like those clueless mainstream journalists who think all money launderers are doing it with Bitcoin and there's nothing else it can be used for but illegal activities.
What are you even doing on a Bitcoin forum? Come down to earth please. 99% of money laundering is done with fiat with shell companies. Bitcoin is not completely anonymous and easy to trace.
Due to the danger that Covid19 represents, it has caused the drops in the price of Bitcoin and the entire economy. We are trying to survive, as long as there is no cure the damages cannot be calculated with precision. We know that the economy is in decline and we need to join forces to move it forward.
This pandemic brings to every country in bad fate and every investments/assets are all in a huge decline since beginning of March millions lost jobs, and thousands have dead already even the bitcoin halving are coming I dont see the price will continue to rise due to this event but if no pandemic Im really sure price of btc is skyrocketing now but unfortunately this is not happening due to this plague and this will not change unless vaccine is already here.
Pandemic is anyone's problem right now, any market like stock or oil or crypto, it does not matter since what runs these market is the people and the people is afraid of losing so they are pulling out however with the crypto market that we have, we already resisted at a certain price unlike stock and oil that reaches the bottom rock ( although it does not affect the oil industry that much). Halving is coming near, I'm quite doubtful with it since we have a huge problem, global problem so I'll be 50/50 over the rise of the price of the bitcoin this year's halving. But who knows? Market have shown some spikes. 
This pandemic brings to every country in bad fate and every investments/assets are all in a huge decline since beginning of March millions lost jobs, and thousands have dead already even the bitcoin halving are coming I dont see the price will continue to rise due to this event but if no pandemic Im really sure price of btc is skyrocketing now but unfortunately this is not happening due to this plague and this will not change unless vaccine is already here.
Bitcoin has already recovered from the dump, it was just the an instant reaction that resulted a dump, but that was only cause by the panic, and those who bought at that price are now so lucky to sell almost double of the price they accumulated.
Panic of everyone who's been in a bad situation being in the midst of lockdowns. Selling at the same time made bitcoin price tanked but nothing to worry with that because bitcoin has always been quick in recovery.Actually, even if bitcoin will end at $7k+, we can still say that 2020 is not a bad year for bitcoin considering we have the pandemic this year.
We're on the 2nd quarter so more to come for this year and it's inappropriate to have a verdict that this year is good enough or not. Although Halving has come close, it seems that there is no optimistic signal that BTC will rise. Currently Corona Virus is making it difficult for the leading economies in the world. And is that the main cause of Bitcoin price drops? Let me give you some possibilities
1. Unemployed people do not have income so they do not dare to invest in Cryptocurrency.
2. The psychology of fear that if we die by Virus and die, investing in Cryptocurrency will not bring anything when we die
3. In a difficult economy, investors need to withdraw assets and sell cash to maintain businesses such as payroll, purchase and sale of goods instead of investing in cryptocurrencies.
4. The disease has not yet been controlled, the economy has not shown signs of recovery, so investors are afraid of not participating in the Cryptocurrency market.
1. Unemployed people do not have income so they do not dare to invest in Cryptocurrency.
2. The psychology of fear that if we die by Virus and die, investing in Cryptocurrency will not bring anything when we die
3. In a difficult economy, investors need to withdraw assets and sell cash to maintain businesses such as payroll, purchase and sale of goods instead of investing in cryptocurrencies.
4. The disease has not yet been controlled, the economy has not shown signs of recovery, so investors are afraid of not participating in the Cryptocurrency market.
Yesterday we received a positive signal from BTC which suggests a rise in the price after halving. The price will rise as after each halving, at the same time we are coming out of this crisis situation COVID-19. We are also coming out from this crisis
Actually, the price in € crash the 8th or 10th march if i remember, since then the price of BTC just rise again from 3.900 aprox to 6900€ today
There was a slight dump in the price but now the price is again rising. If i remember correctly, when the covid-19 panic started, the bitcoin price was near 7200$. It moved down to 6900$ but it is now even more higher these days, 7511$ to be precise. I would say that bitcoin stood strong in all these times.
Bitcoin has already recovered from the dump, it was just the an instant reaction that resulted a dump, but that was only cause by the panic, and those who bought at that price are now so lucky to sell almost double of the price they accumulated. Actually, even if bitcoin will end at $7k+, we can still say that 2020 is not a bad year for bitcoin considering we have the pandemic this year.
Yeah it wasn't bad right? Bitcoin has increased almost $700 in a few hours and it will continue. But for the price back to drop is still widely open, as you may know bitcoin price is increasing against the economic situation all countries. And I still doubt that the people is convince that bitcoin is the right place to store money when the crisis come. So it will have a chance for them to sell bitcoin and make the price drop again. But in other hand we have halving event that can force the price bitcoin up, if we see on the history halving event always gives the price drastically increase. 
Bitcoin has already recovered from the dump, it was just the an instant reaction that resulted a dump, but that was only cause by the panic, and those who bought at that price are now so lucky to sell almost double of the price they accumulated. Actually, even if bitcoin will end at $7k+, we can still say that 2020 is not a bad year for bitcoin considering we have the pandemic this year.
Also remember that the halving is near so bitcoin price will certainly go to the moon! If you are gonna look at the chart and check some history, bitcoin price is getting pump after the halving and I am sure that this is going to happen in this halving considering that, we are already seeing it's movement and it's going to to the moon! So it's really go decision to buy more bitcoin now and see the price to go up 
Now mostly people’s are selling their hold assets whose are jobless. Bitcoin is going pretty good, drops is the common scenario in cryptocurrency. And i think corona virus is bullshit cause who guys blaming btc price dropped for current pandemic outbreak. Now all of the countries are facing economical disrepair. How you expect good signs in the economy right now, without recover these condition.
Many people think that the cause of the market price of the bitcoin is because of the pandemic outbreak coronavirus and in some instance this not too much because the outbreak really hits the fiat currency most of the transaction from the different country make a temporary canceled and lockdown to avoid getting the virus spreading rapidly, the virus today can now be attached to the things and it is already airborne so they avoid spreading that rapidly.
From the previous years of the bitcoin, we experience on the market price it Is already drop from the last year in the same month of March and to the people who already experience this it is already normal also the one factor affects on it is the halving every four years the halving happens so many people hodl their coins and except for the biggest comeback of the bitcoin on this year of June. So the outbreak does not really affect the price of the bitcoin.
Bitcoin has already recovered from the dump, it was just the an instant reaction that resulted a dump, but that was only cause by the panic, and those who bought at that price are now so lucky to sell almost double of the price they accumulated. Actually, even if bitcoin will end at $7k+, we can still say that 2020 is not a bad year for bitcoin considering we have the pandemic this year.
Although Halving has come close, it seems that there is no optimistic signal that BTC will rise. Currently Corona Virus is making it difficult for the leading economies in the world. And is that the main cause of Bitcoin price drops? Let me give you some possibilities
1. Unemployed people do not have income so they do not dare to invest in Cryptocurrency.
2. The psychology of fear that if we die by Virus and die, investing in Cryptocurrency will not bring anything when we die
3. In a difficult economy, investors need to withdraw assets and sell cash to maintain businesses such as payroll, purchase and sale of goods instead of investing in cryptocurrencies.
4. The disease has not yet been controlled, the economy has not shown signs of recovery, so investors are afraid of not participating in the Cryptocurrency market.
We can blame Covid-19 for the reason behind price drop among btc as this panademic attack has hit the world maeket and economies are crashing very hard.But still the price drops are not much higher what it can be.The main point is not major investments at this time and panic selling by people to match shortage of funds to do neccessary stuff of lives.But some with future foresight have invested at this time also because people have moved towards digital modes of payments these days which give crypto and btc hope for price surge in future.So dont get panic as everything gonna get fine after all this is over and bull run will hit btc so have patience and just HODL. 1. Unemployed people do not have income so they do not dare to invest in Cryptocurrency.
2. The psychology of fear that if we die by Virus and die, investing in Cryptocurrency will not bring anything when we die
3. In a difficult economy, investors need to withdraw assets and sell cash to maintain businesses such as payroll, purchase and sale of goods instead of investing in cryptocurrencies.
4. The disease has not yet been controlled, the economy has not shown signs of recovery, so investors are afraid of not participating in the Cryptocurrency market.
Now mostly people’s are selling their hold assets whose are jobless. Bitcoin is going pretty good, drops is the common scenario in cryptocurrency. And i think corona virus is bullshit cause who guys blaming btc price dropped for current pandemic outbreak. Now all of the countries are facing economical disrepair. How you expect good signs in the economy right now, without recover these condition.
I think COVID-19 is the driving force for bitcoin price to pump in the future. Because as you know, this virus can spread through fiat. Governments encourage people to buy goods online and pay with cryptocurrencies. Besides, the Fed is printing a lot of money to help the US economy to avoid an economic crisis. They gave each US citizen $ 2000 per month. Therefore, I think many people will invest that money in the cryptocurrency market, this made the price of BTC to pump in the future.
How do you know all that will happen? What if people invested in stocks instead of Bitcoin? You can never be sure because cryptocurrency is volatile compared to the traditional stocks that is more popular. Also, Bitcoin is not the only option that people could use to buy online, credit cards and internet wallets are available depending on the country so getting the people to use cryptocurrency even in this times is slim because there's a better and more convenient way.
This is just the reality because cryptocurrency is still not that developed but I do believe that cryptocurrency will be used in most shops online in the future.
Although Halving has come close, it seems that there is no optimistic signal that BTC will rise. Currently Corona Virus is making it difficult for the leading economies in the world. And is that the main cause of Bitcoin price drops? Let me give you some possibilities
1. Unemployed people do not have income so they do not dare to invest in Cryptocurrency.
2. The psychology of fear that if we die by Virus and die, investing in Cryptocurrency will not bring anything when we die
3. In a difficult economy, investors need to withdraw assets and sell cash to maintain businesses such as payroll, purchase and sale of goods instead of investing in cryptocurrencies.
4. The disease has not yet been controlled, the economy has not shown signs of recovery, so investors are afraid of not participating in the Cryptocurrency market.
1. Unemployed people do not have income so they do not dare to invest in Cryptocurrency.
2. The psychology of fear that if we die by Virus and die, investing in Cryptocurrency will not bring anything when we die
3. In a difficult economy, investors need to withdraw assets and sell cash to maintain businesses such as payroll, purchase and sale of goods instead of investing in cryptocurrencies.
4. The disease has not yet been controlled, the economy has not shown signs of recovery, so investors are afraid of not participating in the Cryptocurrency market.
If you've been up to date in the crypto news, the main reason why Bitcoin price dropped was because of the plustoken scam. They dump Bitcoin so hard that it created fear which analyst speculates it was because of stock market and Coronavirus but the truth is it was the scam that cause the main drop, coronavirus only played a part.
Although Halving has come close, it seems that there is no optimistic signal that BTC will rise. Currently Corona Virus is making it difficult for the leading economies in the world. And is that the main cause of Bitcoin price drops? Let me give you some possibilities
1. Unemployed people do not have income so they do not dare to invest in Cryptocurrency.
2. The psychology of fear that if we die by Virus and die, investing in Cryptocurrency will not bring anything when we die
3. In a difficult economy, investors need to withdraw assets and sell cash to maintain businesses such as payroll, purchase and sale of goods instead of investing in cryptocurrencies.
4. The disease has not yet been controlled, the economy has not shown signs of recovery, so investors are afraid of not participating in the Cryptocurrency market.
1. Unemployed people do not have income so they do not dare to invest in Cryptocurrency.
2. The psychology of fear that if we die by Virus and die, investing in Cryptocurrency will not bring anything when we die
3. In a difficult economy, investors need to withdraw assets and sell cash to maintain businesses such as payroll, purchase and sale of goods instead of investing in cryptocurrencies.
4. The disease has not yet been controlled, the economy has not shown signs of recovery, so investors are afraid of not participating in the Cryptocurrency market.
In my opinion, the pandemic did some negative effects on the price of bitcoin but I don't think that it is the major reason why the price dumped. When the price dumped, there are those that say it is the pandemic, some say that it is because of the bitcoins being moved to the mixer by the scammers. Between those two, I would go with the scammers. Even though stocks are hugely affected by the pandemic, crypto currencies are not the same. IT is not directly affected since the ones that are affected are its users and these users are selling btc since they needed it but the fact that the price is increasing means that those people who sold their btc are not that many.
And it seems to me that the rate will grow because now scammers and corrupt officials will launder their money faster and will buy bitcoin to hide their dirty business.
This is a very interesting topic right now and one that I have quite often with buddies of mine. I'm an investment advisor by trade and so following market trends is something I am always having to be right on top of. At present moment almost everything financially is being dictated by two things.. 1) Oil prices 2) covid-19. Covid 19 is of course a huge reason why the stock markets are getting crushed every other day, but it's also indirectly affecting btc. Like it or not, the stock market has a BIG role in bitcoins price movement at present.
Things have started to come around a bit with the markets. We are today around where we were a year ago. It still seems so bad because the past year was insane as in terms of gains in the markets, record highs every other day seemingly. With the halving coming up in May it's going to be pushing prices up. If the markets can continue to at least maintain current levels..I see good things ahead shortly. Long term, much less clear.
Things have started to come around a bit with the markets. We are today around where we were a year ago. It still seems so bad because the past year was insane as in terms of gains in the markets, record highs every other day seemingly. With the halving coming up in May it's going to be pushing prices up. If the markets can continue to at least maintain current levels..I see good things ahead shortly. Long term, much less clear.
you are missing the fact that bitcoin is not an asset, it is a currency. and majority of those who have chosen to convert their fiat to bitcoin have done it to either escape the tyranny of centralized powers or because they know this decentralized currency is independent of any other markets.
there is of course panic due to the other markets going up in smokes these days but as we have seen from the past several weeks the effects of that panic caused 2 days of falling and then the price even recovered most of it within a week. now the only effect that panic has is the uncertainty that people have about the time the rise begins that is why it has not yet begun even though there is a serious accumulation going on.
That's correct. Bitcoin is a currency but most people use it as an asset. there is of course panic due to the other markets going up in smokes these days but as we have seen from the past several weeks the effects of that panic caused 2 days of falling and then the price even recovered most of it within a week. now the only effect that panic has is the uncertainty that people have about the time the rise begins that is why it has not yet begun even though there is a serious accumulation going on.
3. In a difficult economy, investors need to withdraw assets and sell cash to maintain businesses such as payroll, purchase and sale of goods instead of investing in cryptocurrencies.
4. The disease has not yet been controlled, the economy has not shown signs of recovery, so investors are afraid of not participating in the Cryptocurrency market.
These 2 plays a big part in the price drop.4. The disease has not yet been controlled, the economy has not shown signs of recovery, so investors are afraid of not participating in the Cryptocurrency market.
If you followed other markets out there. you would notice that they had the same pattern.
I think COVID-19 is the driving force for bitcoin price to pump in the future. Because as you know, this virus can spread through fiat. Governments encourage people to buy goods online and pay with cryptocurrencies. Besides, the Fed is printing a lot of money to help the US economy to avoid an economic crisis. They gave each US citizen $ 2000 per month. Therefore, I think many people will invest that money in the cryptocurrency market, this made the price of BTC to pump in the future.
It completely depends on the path we take as soon as the real problems come up. I still believe we haven't entered the worst timeline yet.
I mean, it depends on what the most significant part of traders think - their way of doing economics is going to show the most significant change. If the majority of the market players will have no savings and will need to sell their assets, the market takes a negative turn. It can't really be predicted imo with much accuracy. I'm going to just let it be and whatever happens, I'll be right here shilling BTC 'till the end.
I mean, it depends on what the most significant part of traders think - their way of doing economics is going to show the most significant change. If the majority of the market players will have no savings and will need to sell their assets, the market takes a negative turn. It can't really be predicted imo with much accuracy. I'm going to just let it be and whatever happens, I'll be right here shilling BTC 'till the end.
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2. The psychology of fear that if we die by Virus and die, investing in Cryptocurrency will not bring anything when we die
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No offense but this one sounds kinda stupid. We obviously don't bring anything with us upon death.2. The psychology of fear that if we die by Virus and die, investing in Cryptocurrency will not bring anything when we die
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It is so obvious that this Covid-19 really affect a lot of sector in our country, most especially, the financial or economic sector. Economy of most countries crashed because of the Covid-19 that really increase the demand of those necessities just to survive the quarantine. Market are panicking and government has nothing to do with that but to fight this economical problem.
The crude oil's price also crashes to 0 and this is the first time in the history, I think it occur because of the existence of Covid-19. The virus is really uncontrollable and very complex as it is spreading really fast and killed a lot of people are affected and killed by this pandemic.
BTC is also affected most especially it is them most popular cryptocurrency and many people are using this. It is true that you can't bring and manipulate your BTC when you die, that's why you also need to manage your coins and at the same time taking care of yourself. Bitcoin's price is really having a hard time to grow again because of this virus but I know it will bounce back as soon as this pandemic ends.
Totally Agree. Oil prices crashes because Russia refused to decrease their production so Arabia saudi increase theirs by 3.000.000 barrels daily which saturated the market. Russia did decrease production but the changes will be seen next month. Producers are paying for storage and that's why the price is 0, because of COVID19 and quarentine there is less use of oil and with no vaccine at sight I guess this situation will last.
Investors will panic and banking will be affected so banks will make restrictive politics about withdrawals that will lead people to invest in BTC as It's a non government currency.
This situation should be seen also as an oportunity for BTC, that's my point of view
Although it may be a valid reason, it should be noted that many times this type of fall is because there is something more fundamental than a simple disagreement, the COVID-19 can be a factor, it must be remembered that oil is also considered by many to be safe haven, such as silver and other precious metals, gold also and in countries with inflationary economies, Bitcoin behaves as a safe haven, perhaps the crash goes far beyond disagreements between OPEC countries.
Although Halving has come close, it seems that there is no optimistic signal that BTC will rise. Currently Corona Virus is making it difficult for the leading economies in the world. And is that the main cause of Bitcoin price drops? Let me give you some possibilities
1. Unemployed people do not have income so they do not dare to invest in Cryptocurrency.
2. The psychology of fear that if we die by Virus and die, investing in Cryptocurrency will not bring anything when we die
3. In a difficult economy, investors need to withdraw assets and sell cash to maintain businesses such as payroll, purchase and sale of goods instead of investing in cryptocurrencies.
4. The disease has not yet been controlled, the economy has not shown signs of recovery, so investors are afraid of not participating in the Cryptocurrency market.
1. Unemployed people do not have income so they do not dare to invest in Cryptocurrency.
2. The psychology of fear that if we die by Virus and die, investing in Cryptocurrency will not bring anything when we die
3. In a difficult economy, investors need to withdraw assets and sell cash to maintain businesses such as payroll, purchase and sale of goods instead of investing in cryptocurrencies.
4. The disease has not yet been controlled, the economy has not shown signs of recovery, so investors are afraid of not participating in the Cryptocurrency market.
Yesterday we received a positive signal from BTC which suggests a rise in the price after halving. The price will rise as after each halving, at the same time we are coming out of this crisis situation COVID-19. We are also coming out from this crisis
Actually, the price in € crash the 8th or 10th march if i remember, since then the price of BTC just rise again from 3.900 aprox to 6900€ today
It completely depends on the path we take as soon as the real problems come up. I still believe we haven't entered the worst timeline yet.
I mean, it depends on what the most significant part of traders think - their way of doing economics is going to show the most significant change. If the majority of the market players will have no savings and will need to sell their assets, the market takes a negative turn. It can't really be predicted imo with much accuracy. I'm going to just let it be and whatever happens, I'll be right here shilling BTC 'till the end.
I mean, it depends on what the most significant part of traders think - their way of doing economics is going to show the most significant change. If the majority of the market players will have no savings and will need to sell their assets, the market takes a negative turn. It can't really be predicted imo with much accuracy. I'm going to just let it be and whatever happens, I'll be right here shilling BTC 'till the end.
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2. The psychology of fear that if we die by Virus and die, investing in Cryptocurrency will not bring anything when we die
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No offense but this one sounds kinda stupid. We obviously don't bring anything with us upon death.2. The psychology of fear that if we die by Virus and die, investing in Cryptocurrency will not bring anything when we die
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It is so obvious that this Covid-19 really affect a lot of sector in our country, most especially, the financial or economic sector. Economy of most countries crashed because of the Covid-19 that really increase the demand of those necessities just to survive the quarantine. Market are panicking and government has nothing to do with that but to fight this economical problem.
The crude oil's price also crashes to 0 and this is the first time in the history, I think it occur because of the existence of Covid-19. The virus is really uncontrollable and very complex as it is spreading really fast and killed a lot of people are affected and killed by this pandemic.
BTC is also affected most especially it is them most popular cryptocurrency and many people are using this. It is true that you can't bring and manipulate your BTC when you die, that's why you also need to manage your coins and at the same time taking care of yourself. Bitcoin's price is really having a hard time to grow again because of this virus but I know it will bounce back as soon as this pandemic ends.
Totally Agree. Oil prices crashes because Russia refused to decrease their production so Arabia saudi increase theirs by 3.000.000 barrels daily which saturated the market. Russia did decrease production but the changes will be seen next month. Producers are paying for storage and that's why the price is 0, because of COVID19 and quarentine there is less use of oil and with no vaccine at sight I guess this situation will last.
Investors will panic and banking will be affected so banks will make restrictive politics about withdrawals that will lead people to invest in BTC as It's a non government currency.
This situation should be seen also as an oportunity for BTC, that's my point of view
Although Halving has come close, it seems that there is no optimistic signal that BTC will rise. Currently Corona Virus is making it difficult for the leading economies in the world. And is that the main cause of Bitcoin price drops? Let me give you some possibilities
1. Unemployed people do not have income so they do not dare to invest in Cryptocurrency.
2. The psychology of fear that if we die by Virus and die, investing in Cryptocurrency will not bring anything when we die
3. In a difficult economy, investors need to withdraw assets and sell cash to maintain businesses such as payroll, purchase and sale of goods instead of investing in cryptocurrencies.
4. The disease has not yet been controlled, the economy has not shown signs of recovery, so investors are afraid of not participating in the Cryptocurrency market.
1. Unemployed people do not have income so they do not dare to invest in Cryptocurrency.
2. The psychology of fear that if we die by Virus and die, investing in Cryptocurrency will not bring anything when we die
3. In a difficult economy, investors need to withdraw assets and sell cash to maintain businesses such as payroll, purchase and sale of goods instead of investing in cryptocurrencies.
4. The disease has not yet been controlled, the economy has not shown signs of recovery, so investors are afraid of not participating in the Cryptocurrency market.
Yesterday we received a positive signal from BTC which suggests a rise in the price after halving. The price will rise as after each halving, at the same time we are coming out of this crisis situation COVID-19. We are also coming out from this crisis
I think is it possible it is not impossible,Because covid-19 is the very dangerous virus in the world, many people L
Already death for this virus, and many people now seeks for this, so almost 2.5 million people already seeks for this virus so i think many people withday her /sher money for good treatment so i think it is possible
Already death for this virus, and many people now seeks for this, so almost 2.5 million people already seeks for this virus so i think many people withday her /sher money for good treatment so i think it is possible
Don't forget it's not just coronavirus we're dealing with but a total slowdown of the economy in almost every country. I think we can somewhat blame the lockdown to cause oil prices to drop for sure but everything else was actually getting really bad before Wuhan came out with the news.
And is that the main cause of Bitcoin price drops?
All those scenarios you laid out may have some merit to them, but it all boils down to the answer to the above--and yes, the coronavirus outbreak is basically the main cause for a lot of things lately, including bitcoin's price. I don't think there's any good way to quantify the effects, but they're real nonethelessI've always thought that there haven't been enough data points regarding the halvings and their influence on bitcoin's price. It isn't as though there necessarily needs to be a correlation between the mining rewards and what the price has to be. And in any event, I think the viral outbreak has overwhelmed most if not all of the gains bitcoin might have received because of the upcoming halving.
But we'll see. That halving hasn't happened quite yet.
I don’t know how you earn, I have money even on a depreciation rate.Benefit from bitcoin even when the crypto markets are crashing.
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Kinda It was But the panic came from it was the actual reason.
However, It shouldn't be because people they had FUD and did the panic sell lost a lot during this time.
But still after ending this period of time and you can see as the covid-19 situation is better better the price is getting recovered too
However, It shouldn't be because people they had FUD and did the panic sell lost a lot during this time.
But still after ending this period of time and you can see as the covid-19 situation is better better the price is getting recovered too
1. Unemployed people do not have income so they do not dare to invest in Cryptocurrency.
2. The psychology of fear that if we die by Virus and die, investing in Cryptocurrency will not bring anything when we die
4. The disease has not yet been controlled, the economy has not shown signs of recovery, so investors are afraid of not participating in the Cryptocurrency market.
2. The psychology of fear that if we die by Virus and die, investing in Cryptocurrency will not bring anything when we die
4. The disease has not yet been controlled, the economy has not shown signs of recovery, so investors are afraid of not participating in the Cryptocurrency market.
When we talk about losses, I don't think we should all include this.
How can we be affected or how the price fall when they are not even investing in cryptocurrencies mainly Bitcoin. The possible reason for the dumps that you said is just close to number 3. I think what you are saying is not the possible reason why the price of Bitcoin drops but the possible reasons why the price is not increasing before the halving.
I think Bitcoin is going to have a hard time after the pandemic! Firstly, it has not experienced a single crisis yet, and it is not known how it will survive the coming crisis! Secondly, a lot of people around the world will be left without jobs and certainly not investing in cryptocurrencies...
But I hope that Bitcoin will be all right!
But I hope that Bitcoin will be all right!
Absolutely correct, this pandemic has done more harm than good to the masses and even to the nations if nations around the world. Remember that, stock market crashed during this pandemic and not only that, the cryptocurrency market wasn't an exception as we have seen.
Although, the drop has not affected the cryptocurrency market as it has done to the crude oil market which has gone to zero point. Hope has been rekindling in some few days now as the market has started growing again. At least we're witnessing a good move from cryptocurrency towards Bitcoin halving.
Although, the drop has not affected the cryptocurrency market as it has done to the crude oil market which has gone to zero point. Hope has been rekindling in some few days now as the market has started growing again. At least we're witnessing a good move from cryptocurrency towards Bitcoin halving.
When it all started, people started panicking and selling btc, thereby lowering the price. But then the situation stabilized.
Based on your profile, you are a beginner and I want to tell some advice on you, I have seen a lot of topics so much related to this one, it seems like so redundant, so to avoid this thing you may use the search engine to know if there is existing topic same as what you are thinking and if you see the latest post about it, then do not post it.
Anyway, bitcoin is really helpful for everyone in this world especially the one who is using it. It is really helpful in our current situation, as the virus is still existing we are required to stay at home, and to continue some of our transactions we can do it online and use our bitcoin as payment.
Bitcoin's price drop down cause by COVID-19 is legit, done of the traders, players, investors pull out their money because of being afraid that bitcoin can be dead soon. So for them not to lose the money they have to pull it out.
Anyway, bitcoin is really helpful for everyone in this world especially the one who is using it. It is really helpful in our current situation, as the virus is still existing we are required to stay at home, and to continue some of our transactions we can do it online and use our bitcoin as payment.
Bitcoin's price drop down cause by COVID-19 is legit, done of the traders, players, investors pull out their money because of being afraid that bitcoin can be dead soon. So for them not to lose the money they have to pull it out.
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Covid19 did indeed trigger the price drop. It wasn't only bitcoin though. Stocks and even gold went down last month.
Strangely, Gold is going for a new ATH now while btc isn't doing that great.
it might take some time to see its effect on bitcoin. Well, many blame the decline that occurred because of COVID-19. but, slowly the price of bitcoin is rising. I think this is the effect of the many people who are starting to get to know Bitcoin. Strangely, Gold is going for a new ATH now while btc isn't doing that great.
Covid19 did indeed trigger the price drop. It wasn't only bitcoin though. Stocks and even gold went down last month.
Strangely, Gold is going for a new ATH now while btc isn't doing that great.
Strangely, Gold is going for a new ATH now while btc isn't doing that great.
Although Halving has come close, it seems that there is no optimistic signal that BTC will rise. Currently Corona Virus is making it difficult for the leading economies in the world. And is that the main cause of Bitcoin price drops? Let me give you some possibilities
Bitcoin is speculative asset, based on supply and demand.
1. Unemployed people do not have income so they do not dare to invest in Cryptocurrency.
2. The psychology of fear that if we die by Virus and die, investing in Cryptocurrency will not bring anything when we die
3. In a difficult economy, investors need to withdraw assets and sell cash to maintain businesses such as payroll, purchase and sale of goods instead of investing in cryptocurrencies.
4. The disease has not yet been controlled, the economy has not shown signs of recovery, so investors are afraid of not participating in the Cryptocurrency market.
2. The psychology of fear that if we die by Virus and die, investing in Cryptocurrency will not bring anything when we die
3. In a difficult economy, investors need to withdraw assets and sell cash to maintain businesses such as payroll, purchase and sale of goods instead of investing in cryptocurrencies.
4. The disease has not yet been controlled, the economy has not shown signs of recovery, so investors are afraid of not participating in the Cryptocurrency market.
If we go on your reasoning, the pandemic or at least the fear in the crypto market took its toll last month plunging to $3800 but have you noticed that the market has bounce back already? If the Covid-19 has a direct impact to the market and again based on your logic the price should be 0 by now. But it didn't happened right?
In some part, YES, because some people are have no money to use in this lockdown so that bitcoin holders are forced to sell some of their bitcoin just to buy their necessities. It is not easy to sell bitcoin because you think that someday you will regret it but what can you do if you really need some fiat? You're the one who will benefit for it. Crypto market are crashing and demand of some stocks are also affected and people are having a hard time manipulating their coins. The reality strikes when we think that bitcoin is just important here in this world and you can't bring it when we die, that seems really accurate but people are still holding bitcoin instead of selling it and buy those goods that is necessary for survival.
I could say that the global pandemic affected the price at first and that was probably due to panic selling due to lockdown but we can see that after a few weeks Bitcoin and other Cryptocurrency aren't really back to their normal price before the pandemic but have risen considerably from their low prices.
The virus has made things uneasy for people and it is not just the virus but the fact that many industries have come grinding to a halt and this would certainly have an effect on bitcoin if fewer people are making money there is less to spend in bitcoin. It just makes sense to me.
Who told you it's the most dangerous virus in the world?? More than the black plague?? Stop spreading misinformation.
I think is it possible it is not impossible,Because covid-19 is the very dangerous virus in the world, many people L
Already death for this virus, and many people now seeks for this, so almost 2.5 million people already seeks for this virus so i think many people withday her /sher money for good treatment so i think it is possible
Already death for this virus, and many people now seeks for this, so almost 2.5 million people already seeks for this virus so i think many people withday her /sher money for good treatment so i think it is possible
Who told you it's the most dangerous virus in the world?? More than the black plague?? Stop spreading misinformation.
At some point, yes it is. You know that market is somehow related to each other. These similarities indicate that what happens in one market may influence other markets. We should also focus on the principle of demand and supply, which is why we still don't think the virus is threatening the crypto market at any point. We didn't talk of the other economic factors which are users and manufacturers who worked very well in that definition and those are affected by the coronavirus, and it certainly affects the cryptocurrency even in the limited setting.
It's just too early to tell that Bitcoin will not gonna give a positive results after the halving. This pandemic may be the cause of the price drop of almost everything in the economy but once doctors and scientists find the cure/vaccine for this pandemic I'm sure everything will be back to normal again. Besides, halving will take some time too before we see the real results and that's the start of bull market.
I think is it possible it is not impossible,Because covid-19 is the very dangerous virus in the world, many people L
Already death for this virus, and many people now seeks for this, so almost 2.5 million people already seeks for this virus so i think many people withday her /sher money for good treatment so i think it is possible. Because everyone know Health is wealth.
Already death for this virus, and many people now seeks for this, so almost 2.5 million people already seeks for this virus so i think many people withday her /sher money for good treatment so i think it is possible. Because everyone know Health is wealth.
Probably yeah. The pandemic has caused a very disastrous affect on the global economy. The stock started to fall (and the price of the oil is still falling with the price going negative for a while). Seeing the whole economy collapse, people probably started to panic. They thought bitcoin and other crypto currencies are going to face the same fate. Thus, they started to sell off their cryptocurrencies causing the price to drop. But looks like the price is now recovering. People are expecting the price to go higher due to the halving, but you never know what happens next.
This pandemic have affected every sectors in the whole wide world not a single one is excluded so maybe, since Bitcoin can be considered as a part of the economic sector since it is part of finance where people treat it as a source of income, so the answer is yes I think. The pandemic became one of the reason why the prices of the cryptocurrencies specially Bitcoin have dropped down this past few weeks since the pandemic turned on and because of panic, peope who have invested their money to crypto already start to pulling iff temporarily to sustain their necessities to survive and let themselves be safe from this pandemic that brought lockdowns to happen that basically results to temporarily unemployment so those that have physical job may be do the last resort of converting and pulling their money from Bitcoin. But not just the pandemic must be blamed or to be pointed on this because there are still other factor affecting the price movement and the covid-19 pandemic is just one of those.
The price of bitcoin is affected by several factors such as world financial news, policies and regulations that are being made. Currently, COVID 19 also has some influence on the price of bitcoin. People have been made to stay home without working. Economies of developed countries are going down and all these investors who might have wanted to invest in bitcoin are not doing so because they are not investing but further dumping their holdings in order to take care of their families.
To my opinion COVID-19 isn't direct cause for Bitcoin price drop but due to the whole crisis that it caused it also affected the Bitcoin price. It's actualy the closed circle and domino effect so.cryptocurrency market couldn't escape it. In global crisis that we are heading to, no one can't be spared.
Some will see Bitcoin as a safe heaven for the escape from crisis but some will lose the trust so people will act different and at the end that will all affect the price of Bitcoin too.
Some will see Bitcoin as a safe heaven for the escape from crisis but some will lose the trust so people will act different and at the end that will all affect the price of Bitcoin too.
I don’t know how it’s been in other countries, but the case keeps on increasing where I live everyday. I am not really worried about it though, I have tried to keep myself busy on things that matter and forget about everything that has been happening. Seriously, if you keep thinking about things like these you might just end up losing it or dying out of fear lol. So it’s best to always focus on things that will make you happy and forget about this.
The Coronavirus is for sure, part of the things that led to fall of bitcoin price (I said things, because to me, it doesn’t seem to be the only thing that caused it). I have also been suspecting that the oil has affected the price of Bitcoin in some ways. And just like you have said, a lot of people are more worried about survival than investment. People need food right now, and not where to invest their money, so some will even sell assets they have to use the money more important things.
The Coronavirus is for sure, part of the things that led to fall of bitcoin price (I said things, because to me, it doesn’t seem to be the only thing that caused it). I have also been suspecting that the oil has affected the price of Bitcoin in some ways. And just like you have said, a lot of people are more worried about survival than investment. People need food right now, and not where to invest their money, so some will even sell assets they have to use the money more important things.
It is true that the corona virus has caused the price of bitcoin to fall, and I completely agree with all the reasons mentioned in the opening post
about bitcoin prices are falling. But that does not mean we decided not to invest in bitcoin. I think it will be sorry if people decide not to invest
in bitcoin. Actually, market conditions are now an opportunity to be able to buy bitcoin at cheap prices. Because of the possibility bitcoin prices
after halving occurs will continue to rise until the end of the year. Especially after halving occurs corona virus can end, then the price bitcoin can
go higher. It is not even impossible to go up to the ATH price.
about bitcoin prices are falling. But that does not mean we decided not to invest in bitcoin. I think it will be sorry if people decide not to invest
in bitcoin. Actually, market conditions are now an opportunity to be able to buy bitcoin at cheap prices. Because of the possibility bitcoin prices
after halving occurs will continue to rise until the end of the year. Especially after halving occurs corona virus can end, then the price bitcoin can
go higher. It is not even impossible to go up to the ATH price.
I hope this current situation is put under control as soon as possible. Bitcoin is really a safe haven as proved and reflected during this pandemic and will come back stronger aftermath.
I will go with your statement. Well crypto currency is not much important than your life right..? So you have some logic in your points. I didn't see any reason for btc price drop besides that. Not just crypto currency, there is no marketplace right now which is not suffering at this moment. It's true that not just me also many people worried about halving because of COVID-19. But here is a post i saw earlier that make a sense why btc price will rise after halving. Hope it'll give a satisfy answer.
During the pandemic it happen also the bitcoin drops and a big question and mystery to us is the corona virus is one of the cause or harm the bitcoim value. People are no work so that's they cannot buy more bitcoin if they are crypto user that is also one factor for the price dropping.
We ca find the true answer soon because lockdown will gonna end after people back to work hope for the bitcoin to rise.
We ca find the true answer soon because lockdown will gonna end after people back to work hope for the bitcoin to rise.
Indeed it affected the economy, but let's hope for the best.
Even I just thinking that this situation is the best way for those who don't have any work to start learning about bitcoin and even altcoin. They can spend a little money as an example to learn how trading work because it can be made as a source income if they are able to learn how trading work properly. Comparing they only look the situation such as in social media or news about the pandemic it will be better to learn a useful knowledge that can give money during they're staying at home.
Also, a perfect opportunity for spending a $1000 paycheck on the right thing
I would say that bitcoin has the potential to be a currency (and indeed a safe-haven store-of-value); this may have been the original vision but that vision is not currently realised. At the moment in its development the markets are comparatively thin and regulation is loose. This inevitably causes volatility, which leads to further speculation, and so bitcoin is treated largely as a highly speculative asset.
I am still expecting things to change around and the developers could fulfill what everyone wanted, to be used as a currency and if you have that aspect of bitcoin then everything will come into place, you cannot expect it to be a store of value without the function of a currency, regulations will happen in the coming years and it is inevitable.@OP the recent price drop can be because of many reasons and COVID is a primary reason because the entire economy is struggling.
Even I just thinking that this situation is the best way for those who don't have any work to start learning about bitcoin and even altcoin. They can spend a little money as an example to learn how trading work because it can be made as a source income if they are able to learn how trading work properly. Comparing they only look the situation such as in social media or news about the pandemic it will be better to learn a useful knowledge that can give money during they're staying at home.
Covid cause problems with economics and this cause btc drop too. Investors need to find money for liquidity and they found them in crypto
you are missing the fact that bitcoin is not an asset, it is a currency. and majority of those who have chosen to convert their fiat to bitcoin have done it to either escape the tyranny of centralized powers or because they know this decentralized currency is independent of any other markets.
I would say that bitcoin has the potential to be a currency (and indeed a safe-haven store-of-value); this may have been the original vision but that vision is not currently realised. At the moment in its development the markets are comparatively thin and regulation is loose. This inevitably causes volatility, which leads to further speculation, and so bitcoin is treated largely as a highly speculative asset. Many people currently buy bitcoin as a high-risk high-reward gamble, they put money in when times are good and it is the first place that money is withdrawn from when a global pandemic hits. Hence the big drop because of Covid-19.
Although Halving has come close, it seems that there is no optimistic signal that BTC will rise. Currently Corona Virus is making it difficult for the leading economies in the world. And is that the main cause of Bitcoin price drops? Let me give you some possibilities
1. Unemployed people do not have income so they do not dare to invest in Cryptocurrency.
2. The psychology of fear that if we die by Virus and die, investing in Cryptocurrency will not bring anything when we die
3. In a difficult economy, investors need to withdraw assets and sell cash to maintain businesses such as payroll, purchase and sale of goods instead of investing in cryptocurrencies.
4. The disease has not yet been controlled, the economy has not shown signs of recovery, so investors are afraid of not participating in the Cryptocurrency market.
1. Unemployed people do not have income so they do not dare to invest in Cryptocurrency.
2. The psychology of fear that if we die by Virus and die, investing in Cryptocurrency will not bring anything when we die
3. In a difficult economy, investors need to withdraw assets and sell cash to maintain businesses such as payroll, purchase and sale of goods instead of investing in cryptocurrencies.
4. The disease has not yet been controlled, the economy has not shown signs of recovery, so investors are afraid of not participating in the Cryptocurrency market.
COVID-19 did cause an initial dump in price, but over 3 weeks now, it's recovery is impressive.
1. It has always been the case that unemployed people cannot invest, even before COVID-19 so that's not a reason
2. I do not agree it is fear, drastic circumstances requires surviving skills, you cannot stay hungry when you have bitcoin that can feed you.
3. Your 3rd point corellates perfectly with my no 2 opinion
4. I Think the road to recovery is near, with Mauritania declaring freedom after just 7 cases, 1 death (sadly) and 6 recoveries.
Lets say covid19 was among a factor that dropped workd economies, including bitcoin. But with the halving here, there should be a twist in events
Although Halving has come close, it seems that there is no optimistic signal that BTC will rise. Currently Corona Virus is making it difficult for the leading economies in the world. And is that the main cause of Bitcoin price drops? Let me give you some possibilities
1. Unemployed people do not have income so they do not dare to invest in Cryptocurrency.
2. The psychology of fear that if we die by Virus and die, investing in Cryptocurrency will not bring anything when we die
3. In a difficult economy, investors need to withdraw assets and sell cash to maintain businesses such as payroll, purchase and sale of goods instead of investing in cryptocurrencies.
4. The disease has not yet been controlled, the economy has not shown signs of recovery, so investors are afraid of not participating in the Cryptocurrency market.
I mean yeah BTC will be affected due to the global economic state right now but I beg to disagree. In my opinion, this is the perfect time for BTC to rise again. With all the social distancing and lockdowns implemented, being online is what keeps us and the economy going. People are staying and working from home, online shopping (though already popular even before the pandemic) and with this, online currency. So I wouldn't be surprised if BTC booms in the following months. 1. Unemployed people do not have income so they do not dare to invest in Cryptocurrency.
2. The psychology of fear that if we die by Virus and die, investing in Cryptocurrency will not bring anything when we die
3. In a difficult economy, investors need to withdraw assets and sell cash to maintain businesses such as payroll, purchase and sale of goods instead of investing in cryptocurrencies.
4. The disease has not yet been controlled, the economy has not shown signs of recovery, so investors are afraid of not participating in the Cryptocurrency market.
Well, I've never tried to think of Covid-19 and BTC price all together but now it has sense. Think, you're right.
yes, we can't deny it that the pandemic virus also impacted the price of BITCOIN and continuing to show bullish signs and obviously that worldwide there will be an economic loss particular of the biggest business on the traditional market meaning many investors are implementing precautionary for safety measures.
It completely depends on the path we take as soon as the real problems come up. I still believe we haven't entered the worst timeline yet.
I mean, it depends on what the most significant part of traders think - their way of doing economics is going to show the most significant change. If the majority of the market players will have no savings and will need to sell their assets, the market takes a negative turn. It can't really be predicted imo with much accuracy. I'm going to just let it be and whatever happens, I'll be right here shilling BTC 'till the end.
I mean, it depends on what the most significant part of traders think - their way of doing economics is going to show the most significant change. If the majority of the market players will have no savings and will need to sell their assets, the market takes a negative turn. It can't really be predicted imo with much accuracy. I'm going to just let it be and whatever happens, I'll be right here shilling BTC 'till the end.
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2. The psychology of fear that if we die by Virus and die, investing in Cryptocurrency will not bring anything when we die
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No offense but this one sounds kinda stupid. We obviously don't bring anything with us upon death.2. The psychology of fear that if we die by Virus and die, investing in Cryptocurrency will not bring anything when we die
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It is so obvious that this Covid-19 really affect a lot of sector in our country, most especially, the financial or economic sector. Economy of most countries crashed because of the Covid-19 that really increase the demand of those necessities just to survive the quarantine. Market are panicking and government has nothing to do with that but to fight this economical problem.
The crude oil's price also crashes to 0 and this is the first time in the history, I think it occur because of the existence of Covid-19. The virus is really uncontrollable and very complex as it is spreading really fast and killed a lot of people are affected and killed by this pandemic.
BTC is also affected most especially it is them most popular cryptocurrency and many people are using this. It is true that you can't bring and manipulate your BTC when you die, that's why you also need to manage your coins and at the same time taking care of yourself. Bitcoin's price is really having a hard time to grow again because of this virus but I know it will bounce back as soon as this pandemic ends.
3. In a difficult economy, investors need to withdraw assets and sell cash to maintain businesses such as payroll, purchase and sale of goods instead of investing in cryptocurrencies.
4. The disease has not yet been controlled, the economy has not shown signs of recovery, so investors are afraid of not participating in the Cryptocurrency market.
These 2 plays a big part in the price drop.4. The disease has not yet been controlled, the economy has not shown signs of recovery, so investors are afraid of not participating in the Cryptocurrency market.
If you followed other markets out there. you would notice that they had the same pattern.
you are missing the fact that bitcoin is not an asset, it is a currency. and majority of those who have chosen to convert their fiat to bitcoin have done it to either escape the tyranny of centralized powers or because they know this decentralized currency is independent of any other markets.
there is of course panic due to the other markets going up in smokes these days but as we have seen from the past several weeks the effects of that panic caused 2 days of falling and then the price even recovered most of it within a week. now the only effect that panic has is the uncertainty that people have about the time the rise begins that is why it has not yet begun even though there is a serious accumulation going on.
there is of course panic due to the other markets going up in smokes these days but as we have seen from the past several weeks the effects of that panic caused 2 days of falling and then the price even recovered most of it within a week. now the only effect that panic has is the uncertainty that people have about the time the rise begins that is why it has not yet begun even though there is a serious accumulation going on.
Hmm I think it isn't really the COVID 19 fault why bitcoin Price drops because we even see some minor increasing of the price amidst the crisis, but it is mainly because of the market. If the most of the people sell their assets, then we absolutely know what will be the effect of it. So it is really on the investors for me.
1. Unemployed people do not have income so they do not dare to invest in Cryptocurrency.
If there is money flowing into Bitcoin during this time, it would not be coming from people who have lost their income. It would be coming from the investors who try to get away from the plunging traditional market; the Bitcoin market being more or less independent.
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2. The psychology of fear that if we die by Virus and die, investing in Cryptocurrency will not bring anything when we die
This is irrelevant because when you die all kinds of investment will not matter anymore.
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3. In a difficult economy, investors need to withdraw assets and sell cash to maintain businesses such as payroll, purchase and sale of goods instead of investing in cryptocurrencies.
In a difficult economy, investors will need something through which their wealth will remain safe. I don't think investors will sell their assets just to be able to maintain their workers' payroll. If their business is losing, they will certainly shut down.
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4. The disease has not yet been controlled, the economy has not shown signs of recovery, so investors are afraid of not participating in the Cryptocurrency market.
Again, investors are probably more afraid to keep their wealth in fiat or in stocks.
Although Halving has come close, it seems that there is no optimistic signal that BTC will rise. Currently Corona Virus is making it difficult for the leading economies in the world. And is that the main cause of Bitcoin price drops? Let me give you some possibilities
Bitcoin is speculative asset, based on supply and demand.
1. Unemployed people do not have income so they do not dare to invest in Cryptocurrency.
2. The psychology of fear that if we die by Virus and die, investing in Cryptocurrency will not bring anything when we die
3. In a difficult economy, investors need to withdraw assets and sell cash to maintain businesses such as payroll, purchase and sale of goods instead of investing in cryptocurrencies.
4. The disease has not yet been controlled, the economy has not shown signs of recovery, so investors are afraid of not participating in the Cryptocurrency market.
2. The psychology of fear that if we die by Virus and die, investing in Cryptocurrency will not bring anything when we die
3. In a difficult economy, investors need to withdraw assets and sell cash to maintain businesses such as payroll, purchase and sale of goods instead of investing in cryptocurrencies.
4. The disease has not yet been controlled, the economy has not shown signs of recovery, so investors are afraid of not participating in the Cryptocurrency market.
If we go on your reasoning, the pandemic or at least the fear in the crypto market took its toll last month plunging to $3800 but have you noticed that the market has bounce back already? If the Covid-19 has a direct impact to the market and again based on your logic the price should be 0 by now. But it didn't happened right?
1. Unemployed people do not have income so they do not dare to invest in Cryptocurrency.
They are being given stimulus packages via airdrops and it is being said that some of them are in a hurry to invest into crypto.
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2. The psychology of fear that if we die by Virus and die, investing in Cryptocurrency will not bring anything when we die
Who says that cryptocurrencies won't bring you anything if you die by virus? It may buy you some place where you intentionally want to get buried, it may also bring some peace and smiles on your family members' faces because you've invested some of your money into crypto and leave that crypto to someone close to you by letting them know about the same. As well, allowing them to sell it whenever they want to, so they can hodl and then sell it at better prices.
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3. In a difficult economy, investors need to withdraw assets and sell cash to maintain businesses such as payroll, purchase and sale of goods instead of investing in cryptocurrencies.
I agree to this one, that they need money in order to pay for things but cash? I don't think so because cash is also paper money and everyone is being advised to use digital payments mostly, so to stop the spread of virus via cash. Don't you think this is an opportunity for digital cryptocurrencies too?
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4. The disease has not yet been controlled, the economy has not shown signs of recovery, so investors are afraid of not participating in the Cryptocurrency market.
No, the total crypto marketcap is worth nothing compared to trillions of $$$ worth of markets you're speaking about. So, investors may not be taking a chance now due to halving but may prove us wrong that BTC will remain in sideways, by just liquidating all the shorts till a level that even these shorts won't have thought of.
Yes, many people lost their incomes, and many were faced with the fact that they needed money for various purchases, it could be different purchases of medical goods, products or a banal supply of cash, in case of any situations. Therefore, the pandemic hit pretty hard on cryptocurrencies.
Although Halving has come close, it seems that there is no optimistic signal that BTC will rise. Currently Corona Virus is making it difficult for the leading economies in the world. And is that the main cause of Bitcoin price drops? Let me give you some possibilities
1. Unemployed people do not have income so they do not dare to invest in Cryptocurrency.
2. The psychology of fear that if we die by Virus and die, investing in Cryptocurrency will not bring anything when we die
3. In a difficult economy, investors need to withdraw assets and sell cash to maintain businesses such as payroll, purchase and sale of goods instead of investing in cryptocurrencies.
4. The disease has not yet been controlled, the economy has not shown signs of recovery, so investors are afraid of not participating in the Cryptocurrency market.
1. Unemployed people do not have income so they do not dare to invest in Cryptocurrency.
2. The psychology of fear that if we die by Virus and die, investing in Cryptocurrency will not bring anything when we die
3. In a difficult economy, investors need to withdraw assets and sell cash to maintain businesses such as payroll, purchase and sale of goods instead of investing in cryptocurrencies.
4. The disease has not yet been controlled, the economy has not shown signs of recovery, so investors are afraid of not participating in the Cryptocurrency market.
Initially we all thought that COVID-19 is not impacting bitcoin. I remember having few arguments about it as well. However, the situation we are currently living under - it's impossible to ignore the impact COVID-19 is having on every areas of our life. Cryptocurrency is not exception anymore. I do agree with all 4 points you have mentioned here which is generally affecting the price of bitcoin or any other cryptos. Bitcoin will only start showing signs of recovery once people have surplus money in their hand. As of now, world is facing a severe financial crisis and we don't know when we will be able to get out of this situation. This uncertainty is definitely hurting the growth of cryptos in a holistic manner.
Having said that, I strongly think that it is more important to stay fit and healthy at this moment. Money will find its way at a later stage! Stay at home and stay safe!
Although Halving has come close, it seems that there is no optimistic signal that BTC will rise. Currently Corona Virus is making it difficult for the leading economies in the world. And is that the main cause of Bitcoin price drops? Let me give you some possibilities
1. Unemployed people do not have income so they do not dare to invest in Cryptocurrency.
2. The psychology of fear that if we die by Virus and die, investing in Cryptocurrency will not bring anything when we die
3. In a difficult economy, investors need to withdraw assets and sell cash to maintain businesses such as payroll, purchase and sale of goods instead of investing in cryptocurrencies.
4. The disease has not yet been controlled, the economy has not shown signs of recovery, so investors are afraid of not participating in the Cryptocurrency market.
These reasons sound plausible, but I think it's simpler than that. COVID-19 affects the economy, but I don't think this impact is serious when it comes to cryptocurrencies. Another thing COVID-19 affects is mental health, and I think this is closer to the point. In particular, the pandemic brought a lot of uncertainty and uncomfortable restrictions, so the level of anxiety is very high. This can trigger a lot of panic selling. And honestly, I guess Bitcoin is not doing that bad right now. It's more or less stable even though things are not getting better with the world. 1. Unemployed people do not have income so they do not dare to invest in Cryptocurrency.
2. The psychology of fear that if we die by Virus and die, investing in Cryptocurrency will not bring anything when we die
3. In a difficult economy, investors need to withdraw assets and sell cash to maintain businesses such as payroll, purchase and sale of goods instead of investing in cryptocurrencies.
4. The disease has not yet been controlled, the economy has not shown signs of recovery, so investors are afraid of not participating in the Cryptocurrency market.
I thought of this too, Should COVID 19 lead to drop in the price of Bitcoin? I succumb to one of the points you made that a lot of people are making withdrawals than investing during to short finances at this time. But actually because of the state at which the market was even before the virus, one could not say it was the virus effect. I had initially known that the rising of the price won't be a rush Immediately and after the halving. It will take time.
It completely depends on the path we take as soon as the real problems come up. I still believe we haven't entered the worst timeline yet.
I mean, it depends on what the most significant part of traders think - their way of doing economics is going to show the most significant change. If the majority of the market players will have no savings and will need to sell their assets, the market takes a negative turn. It can't really be predicted imo with much accuracy. I'm going to just let it be and whatever happens, I'll be right here shilling BTC 'till the end.
I mean, it depends on what the most significant part of traders think - their way of doing economics is going to show the most significant change. If the majority of the market players will have no savings and will need to sell their assets, the market takes a negative turn. It can't really be predicted imo with much accuracy. I'm going to just let it be and whatever happens, I'll be right here shilling BTC 'till the end.
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2. The psychology of fear that if we die by Virus and die, investing in Cryptocurrency will not bring anything when we die
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No offense but this one sounds kinda stupid. We obviously don't bring anything with us upon death. 2. The psychology of fear that if we die by Virus and die, investing in Cryptocurrency will not bring anything when we die
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3. In a difficult economy, investors need to withdraw assets and sell cash to maintain businesses such as payroll, purchase and sale of goods instead of investing in cryptocurrencies.
Well, bitcoin doesn't exist independent of the economy. Bitcoin is an integral part of the economy. As such whatever that affect the economy will affect the crypto system too. Its just like the human body- it has many parts. If one is injure it affects the effectiveness of other parts.
But, ironically this is the best time to take the risk of investing into bitcoin because at the signal of economic recovery the ROI of such investment will skyrocket.
During the virus, bitcoin has also risen in price, so I do not see any effect again. What you are saying now is what we do not want to hear. I will advise you to buy bitcoin now, the price will increase over a long period of timw after halving.
Including this thread at least one hundred threads have been created so far on this issue. Why create new thread rather than searching about it join on the discussion on existed thread?
Of course such pandemic will affect the global eeconomy and BTC is one them. So, it is common that due to the virus, BTC price will be affected.
Of course such pandemic will affect the global eeconomy and BTC is one them. So, it is common that due to the virus, BTC price will be affected.
Perhaps you were right. And I have the same opinion as you. However, all is only temporary and when the disease passes, BTC will return stronger. I believe so. You have quite a deep appreciation of this and deserve praise. Wish you success
Although Halving has come close, it seems that there is no optimistic signal that BTC will rise. Currently Corona Virus is making it difficult for the leading economies in the world. And is that the main cause of Bitcoin price drops? Let me give you some possibilities
1. Unemployed people do not have income so they do not dare to invest in Cryptocurrency.
2. The psychology of fear that if we die by Virus and die, investing in Cryptocurrency will not bring anything when we die
3. In a difficult economy, investors need to withdraw assets and sell cash to maintain businesses such as payroll, purchase and sale of goods instead of investing in cryptocurrencies.
4. The disease has not yet been controlled, the economy has not shown signs of recovery, so investors are afraid of not participating in the Cryptocurrency market.
1. Unemployed people do not have income so they do not dare to invest in Cryptocurrency.
2. The psychology of fear that if we die by Virus and die, investing in Cryptocurrency will not bring anything when we die
3. In a difficult economy, investors need to withdraw assets and sell cash to maintain businesses such as payroll, purchase and sale of goods instead of investing in cryptocurrencies.
4. The disease has not yet been controlled, the economy has not shown signs of recovery, so investors are afraid of not participating in the Cryptocurrency market.
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