New COVID strain may affect crypto valuation - page 5.

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Quote from: ReiMomo on November 28, 2021, 06:50:26 AM

I dont accept that COVID strain situation would affect crypto valuation. Just check back, we had consecutive ATH of BITCOIN during only Pandemic situation and yes still we are marching forward for its next ATH. There seems to be a usual correction which happens before a great spike and yes this is what I believe and I have seen since 2016. We could see large number of investors have come in to Crypto platform during the COVID period.

Might be correct longer term but the trading situation easily includes a sell off and that might extend the rest of this year we dont know. BTC was already due something of a rise around Spring 2020 because of the halvening and ongoing tightening to BTC regular availability; the biggest point was not the flu variant but the monetary policy change at that time. In 2020 they created so much new money a quarter of all dollars in grand total can be dated to just that one year (not that we bother to physically make them).

lixer

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Quote from: ReiMomo on November 28, 2021, 06:50:26 AM

I dont accept that COVID strain situation would affect crypto valuation. Just check back, we had consecutive ATH of BITCOIN during only Pandemic situation and yes still we are marching forward for its next ATH. There seems to be a usual correction which happens before a great spike and yes this is what I believe and I have seen since 2016. We could see large number of investors have come in to Crypto platform during the COVID period.

It looks like we are talking about something similar with covid being "good" for crypto but bad for the world. I hope that nothing similar ever happens again but the reality is that we are talking about something that is not going to be easy, even if covid ends today, something else could come out tomorrow.

It could be another virus, it could be some other event, it could be earthquakes all around, it could be fires that we have seen during summer globally. Basically, whatever happens will be a very terrible situation for the world, and I believe that we should not be really giving up hope about crypto but be worried about our own globe.

alpamar99

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Quote from: Vannie12 on November 28, 2021, 11:42:04 AM

That event when Covid started was a nightmare and it shut down every country. Factors such as business and employment were greatly inflicted and would explain that large investments that relates to crypto would reflect synchronization of its downhill since supply and demand are affected. I would disagree that it would crash solely because of the new variant, people and the government have adjusted and countries rose from their depths since the pandemic started and still there are other factors that would affect the market.

rather than ccrash I prefer to call it a current correction and I think this is very reasonable because indeed bitcoin has gone up quite high even to touch their new ath.

on the other hand it makes sense if you say that because this kind of reason is only used to make something happen because there is an underlying cause.
I personally don't want to think of this as an impact that results from all of it but indeed everything will definitely have an impact even if only a little

Haunebu

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What the heck are you talking about op? COVID actually helped the cryptocurrency market in more ways than one such as problems related to accessing physical money, renewed interest in digital payment methods etc.

BTC's recent correction started way before the emergence of this new variant to be honest. Also, I am expecting the price to rise soon because of this new variant due to reasons mentioned above.

BTC has been rallying constantly for sometime now which is why a major correction was always expected.

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Quote from: paxmao on November 26, 2021, 12:32:58 PM

I am observing today something similar to what happened in 2020 but at a micro-scale. The announcement of a new COVID variant that may be resistant to current vaccines has sent the Dow and the S&P down the drain, particularly airlines and other travel hospitality linked business. Zoom stocks are up, mining and raw materials down,... It looks like a repetition also in bitcoin price with a plunge that may be ongoing.

For those of you that are newer on hodling, just calm down, this is nothing new, bitcoin will be there tomorrow and, likely, rebounding after the initial collapse caused by the stop-loss orders triggering of the first days.

It is very similar to what we saw back then, the markets hate uncertainty and the pandemic has been full of it, the new variant of the virus seems to be one of the most dangerous to date, so the international community is very worried about it as they fear that we may have to go to square one and live once again the days in which the majority of the population of the world was under lockdown, and all of this when the economies of the world have not recovered and the inflation is already very high.

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Quote from: Cling18 on November 28, 2021, 01:14:58 PM

Bitcoin has faced even the worse scenario of the pandemic situation and it remained firm so I don't think the new COVID variant would affect it too much. I'm sure that it's already strong enough to overcome the negative effects of the pandemic. It even reached a good price during lockdowns and restrictions. Bitcoin could resist the effects of this virus and there are even lots of good events happening to it.

Bitcoin was quite positive during the pandemic and I don't think this is the impact of the COVID variant in fact a lot of increases have occurred because people believe that bitcoin has grown 3x during the pandemic so this has no effect.
For me, it's quite calm now because people now feel free with social distancing that was applied before, even the economy has started to run normally and we will be side by side more even though the covid variant still exists.

pealr12

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Still trying to figure out why this should affect the market so, I get people are in fear but why sell your assets as a result of this new covid discovery, shouldn't we be learning from the first and second waves! This new covid should affect the market this much especially since having survived the previous outbreak, well so far, the market has been resilient so hopefully, it will turn around soon.

Cling18

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Bitcoin has faced even the worse scenario of the pandemic situation and it remained firm so I don't think the new COVID variant would affect it too much. I'm sure that it's already strong enough to overcome the negative effects of the pandemic. It even reached a good price during lockdowns and restrictions. Bitcoin could resist the effects of this virus and there are even lots of good events happening to it.

Vannie12

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That event when Covid started was a nightmare and it shut down every country. Factors such as business and employment were greatly inflicted and would explain that large investments that relates to crypto would reflect synchronization of its downhill since supply and demand are affected. I would disagree that it would crash solely because of the new variant, people and the government have adjusted and countries rose from their depths since the pandemic started and still there are other factors that would affect the market.

ReiMomo

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I dont accept that COVID strain situation would affect crypto valuation. Just check back, we had consecutive ATH of BITCOIN during only Pandemic situation and yes still we are marching forward for its next ATH. There seems to be a usual correction which happens before a great spike and yes this is what I believe and I have seen since 2016. We could see large number of investors have come in to Crypto platform during the COVID period.

Obito

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Quote from: husnija on November 28, 2021, 05:26:41 AM

many people see only the effects, even though it is not the absolute main cause that affects the market
Government policies in setting regulations can be the main reason for holding back while waiting for the market to recover so that it's not too risky

It's not, OP is just trying to make it look like there's a connection with the new COVID strain to the dump in price just to put it together with other market. I mean when the pandemic happened, there's not that much hit in the market and in fact it flourished more than anything because people are indoors and have more time online so they are more likely to be curious with cryptocurrency.

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many people see only the effects, even though it is not the absolute main cause that affects the market
Government policies in setting regulations can be the main reason for holding back while waiting for the market to recover so that it's not too risky

davis196

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Quote from: magneto on November 26, 2021, 02:55:03 PM

Lots of fear mongering.

I don't see how the news has anything to do with crypto valuation at all and it just seems a bit strange that BTC, which is an uncorrelated asset to most other stocks, would dump harder than even the travel sector stocks

Oh well, more time to buy up the dip

Fear cannot be denied.It doesn't matter if we are talking about stock markets or crypto markets.The traders and investors behave the same way everywhere.When bad news hit the markets,the prices go down immediately.The panic and fear will be temporary as usual and the prices will go back to the previous levels.
Many medics are saying that the vaccines are effective enough against the new coronavirus variant.
I don't know how competent they are,but we will have to wait and see what happens.
The travel sector is in a better position,compared to 2020,due to the mass vaccination and mass testing.

Leviathan.007

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A few days ago on the news, they said about the new wave of covid and the increasing number of dead people and infected by covid also the new strain as you said in the first post, this can actually affect the whole world and especially this can have bad effects of the world economy and the resulting increase of inflation rate in all over the world, here the best idea can be to start investing on assets such as gold and bitcoin and with increasing the demand in these two markets we can see fiat currencies becoming even more worthless than before.

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Quote from: albon on November 27, 2021, 12:51:53 PM

Quote from: michellee on November 27, 2021, 09:30:03 AM

I heard that the news says that the scientist found a new strain from Covid in Botswana, which they say will be more dangerous than the previous virus. But I do not search furthermore as I am not too interested in that and hope that everything will be okay.

Related to crypto, I hope that will not have a big impact on crypto and not make the price is plunge deeper. But if the price really gets the effect, I hope people can remain calm and not panic, seeing the crypto market will go down temporarily.

But it could affect the business in real life and that can impact the stock and other businesses.

Fortunately, cryptocurrencies were able to grow during the Corona epidemic and during the deterioration of the global economy, so I think that if a new strain of the epidemic breaks out, it will have a slight impact on the cryptocurrency market, due to the possibilities of using cryptocurrency and that payments in the crypto are considered as An effective method for transactions in order to reduce the risk of spreading the new virus, so we have to be confident in the power of crypto to overcome these epidemics.

That will depend on the type of epidemic because it will not affect crypto if it is not related to anything with crypto. But sometimes, what happens in real life can impact crypto. Crypto is not yet used as a global transaction, but digital currency is already used for the transaction with their fiat transform into digital, which is different from crypto.

If you believe in crypto, you should know how to hold your crypto and not panic, even if the price is down. To overcome these epidemics needs many things from people, the government, and all aspects.

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Quote from: stadus on November 27, 2021, 04:56:09 PM

I would not worry about this, when covid-19 was first discovered and we don't have the vaccine yet, crypto is not affected badly, in fact, it rises while the stocks struggle. So it could be good for crypto and we should trust the experts to take care of the new vaccines that will stop the virus from spreading since they have been developing the vaccines to completely make the world back to its normal state again.

The thing is when most centralized assets are affected because people panic, crypto is always a good alternative.

From this perspective, i can feel that bitcoin is not really going to end up into a bear trap because a new covid strain is out and it might boost the value of bitcoin again since more people will be force to stay at home again and by that time, they will start digging up for online jobs. And crypto is perfect for those who aim for profits without going outside for an income.

With this newly covid strain that will soon to explore the world again, i don't think we should be worrying again as the medical experts continue to find vaccines that can combat this covid variants. Better to stay at home and focus on crypto and make an income through online jobs.

We can see during the pandemic Bitcoin is the best performing asset, so the new covid strain won't make the Bitcoin price fall. Instead, the opposite
will happen, I predict that there will be an increase in the number of people entering the crypto world. That will push the price of Bitcoin to go much higher.
Because as you explained, there is a possibility that many people will return to their activities at home. This means that people will look for income
solutions that can be done at home, and making money through crypto will be increasingly popular. Therefore, seeing that the crypto market has not
yet recovered, I am not worried, because it will not be long before crypto will be bullish again.

stadus

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I would not worry about this, when covid-19 was first discovered and we don't have the vaccine yet, crypto is not affected badly, in fact, it rises while the stocks struggle. So it could be good for crypto and we should trust the experts to take care of the new vaccines that will stop the virus from spreading since they have been developing the vaccines to completely make the world back to its normal state again.

The thing is when most centralized assets are affected because people panic, crypto is always a good alternative.

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Quote from: NeuroticFish on November 26, 2021, 01:54:25 PM

I would also add that this overlaps with the day CME Bitcoin futures expire, hence one of the days the price drops anyway.
The fear related to COVID and that fall of stocks has probably amplified today's dump.

That could be a factor, but the fact that most stocks in Nasdaq and SP500 drop means that it is probably not strongly correlated to the bitcoin specific futures dates. It is worth mentioning that, contrary to other occasions, the indexes have not recovered significantly like it sometimes happens, but rather stood lower than the previous day. My understanding is that hospitality dependant companies are certainly going to be affected.

My diagnose for bitcoin, quick drop for maybe a week?

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Quote from: paxmao on November 26, 2021, 12:32:58 PM

I am observing today something similar to what happened in 2020 but at a micro-scale. The announcement of a new COVID variant that may be resistant to current vaccines has sent the Dow and the S&P down the drain, particularly airlines and other travel hospitality linked business. Zoom stocks are up, mining and raw materials down,... It looks like a repetition also in bitcoin price with a plunge that may be ongoing.

For those of you that are newer on hodling, just calm down, this is nothing new, bitcoin will be there tomorrow and, likely, rebounding after the initial collapse caused by the stop-loss orders triggering of the first days.

All the market seems to be quite bearish at this time and it has been going down slowly. It was trading at above $60,000 earlier before now, but right now the market has dropped and is now at the range of $50,000. But this is not the first time that I am seeing a news that is saying that there is a new strain of covid-19, it has been a long time that this was being said, but the market kept moving pretty fine.

So, I don’t think that this time around the market is going to be affected now. If the market is going down now, then this is the time for it to go down, because it wouldn’t go up forever, there are still times that it would drop, which is why it is being said that the cryptocurrency market is a volatile market.

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Quote from: albon on November 27, 2021, 12:51:53 PM

Quote from: michellee on November 27, 2021, 09:30:03 AM

I heard that the news says that the scientist found a new strain from Covid in Botswana, which they say will be more dangerous than the previous virus. But I do not search furthermore as I am not too interested in that and hope that everything will be okay.

Related to crypto, I hope that will not have a big impact on crypto and not make the price is plunge deeper. But if the price really gets the effect, I hope people can remain calm and not panic, seeing the crypto market will go down temporarily.

But it could affect the business in real life and that can impact the stock and other businesses.

Fortunately, cryptocurrencies were able to grow during the Corona epidemic and during the deterioration of the global economy, so I think that if a new strain of the epidemic breaks out, it will have a slight impact on the cryptocurrency market, due to the possibilities of using cryptocurrency and that payments in the crypto are considered as An effective method for transactions in order to reduce the risk of spreading the new virus, so we have to be confident in the power of crypto to overcome these epidemics.

If it is just an epidemic then a nation lockdown would be enough but with what's happening all around the world. I doubt if this would be just an epidemic plus crypto or Bitcoin has nothing to do with this. It's just people are overreacting to almost everything that's why it creates a fear on their mind, this is the result of overthinking into something that usually doesn't happen. If you are not new in this market you already know how the market works and the only way to handle this dip is just to hodl. And if you believe Bitcoin would break $70 pass through $100k then you should hodl and wait.

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