There are significant number of sites and news saying that China now have less to zero number of infection a day, and the price of Bitcoin from the end of the month of March have been steadily growing from the dump to $3,500+ value. I think this events does explain why even if there is a worldwide quarantine implemented by each country, the development in the price of Bitcoin still continues up to this day. China is a big country, and it hosts a large community of Crypto currency, and the possibility regarding the recovery of the Bitcoin price might be rooted from the recovery of China.
Just a recent article stated that there were 30 new infections, though the said infections were "imported" while a few were infections from inside. Still, I doubt it would end with that with how big of a country it is. Though I have to admit that the quarantine procedures they are enforcing are pretty effective. 
Topic: The Impact of Corona Virus Disrupts the Crypto Industry in China. (Read 605 times)
There were already discussions of how a few mining farms in China were forced to close down, Not to mention that a few mining groups are thinking of migrating to other countries because of the current state affairs the country currently is. Additionally, the recent drop has caused a few mining groups to close down not because of the virus, but because the price current handles the expenditures that they are currently using. Supplies of mining rigs are also being delayed because of the virus, so you can expect that they are hit quite big ngl.
April 06, 2020, 07:19:19 AM
There are significant number of sites and news saying that China now have less to zero number of infection a day, and the price of Bitcoin from the end of the month of March have been steadily growing from the dump to $3,500+ value. I think this events does explain why even if there is a worldwide quarantine implemented by each country, the development in the price of Bitcoin still continues up to this day. China is a big country, and it hosts a large community of Crypto currency, and the possibility regarding the recovery of the Bitcoin price might be rooted from the recovery of China.
Yeah they have 0 new cases for the past of days but unfortunately they have new 39 cases yesterday and you can read the information
Here: https://www.channelnewsasia.com/news/asia/covid-19-coronavirus-china-increase-cases-1-more-death-12612430
and seems they are not done yet with the virus since provably the 2nd outbreak will come if they didn't contained it. But I'm curious if this event will really give an effect since maybe we still in danger zone but hopefully we cannot see a big crash if the case will turn into worse situation again.
April 06, 2020, 07:04:04 AM
There are significant number of sites and news saying that China now have less to zero number of infection a day, and the price of Bitcoin from the end of the month of March have been steadily growing from the dump to $3,500+ value. I think this events does explain why even if there is a worldwide quarantine implemented by each country, the development in the price of Bitcoin still continues up to this day. China is a big country, and it hosts a large community of Crypto currency, and the possibility regarding the recovery of the Bitcoin price might be rooted from the recovery of China.
hero member
Activity: 2912
Merit: 541
Leading Crypto Sports Betting & Casino Platform
April 04, 2020, 09:35:05 AM
The impact of Coronavirus not just happened in China, but it occurs in all countries, and all of them trying to solve the problem first before they can recover their economy. But I don't know if that is also impacting the crypto industry and blockchain in China because I think that they don't just have their server in China only, but they also have another server in another country. I am sure that even if their business in China is down, they can still running from the other country.
April 04, 2020, 06:12:29 AM
now that all economies are down, some people
will use that moment to take advantage of this very deep decline.
will use that moment to take advantage of this very deep decline.
Yes it is a time for people who are smart to do some good return because there is no way that price will not pump after this time that economy is down. When countries come out of this, they will pump in money into their system which means investment will come back and cryptocurrency too will have its own share of it.
April 04, 2020, 05:33:49 AM
As my own perspective and based on what we experiencing right now. Not only the china has an impact of corona virus because when the pandemic coronavirus are spreads throughout the world many countries are get infected to it and the crypto industry are also effect, all the currencies are drop at a lower price. In minimizing the impact of virus is to use the crypto currency instead of fiat currency, as we noticed it is easily spread the coronavirus through physical things and if we use the crypto we can prevent the virus from spreading it.
The characteristics of cryptocurrency are unique and because of their decentralized and anonymous nature, but cryptocurrency has a volatile value (except Fiat-backed Stablecoins).
Statistically, China is a huge market power but it is difficult to conclude corona correlation with the cryptocurrency market in China. What is certain is that the corona effect is hitting all industries in both the real sector and the market both conventional and cryptocurrency markets.
In addition, investors in these uncertain conditions generally cash their assets and prefer to hold fiat money as a form of protective action not to their assets but to the safety of their souls. Continuation of this is that they prefer to use e-money or digital payment instead of cryptocurrency (because of the volatility) to avoid the use of physical money that has the potential to be a corona distribution medium.
The risk of using physical money during the Corona Pendemi also encourages the government to accelerate the creation of stable coins or CBDCs as a precautionary measure if the pandemic is prolonged.
April 02, 2020, 08:52:31 AM
The halving will deliver the coup of grace in many of these mining companies.
Then there is Shelby's FUD from one year ago, where he predicted a massive stealing from SegWit addresses.
Bitcoin is navigating in murky waters right now. Being submitted to the stock market, to derivatives speculation and now the industrial impact from the shutdowns shows bitcoin is in a iron ordeal it never saw before.
Then there is Shelby's FUD from one year ago, where he predicted a massive stealing from SegWit addresses.
Bitcoin is navigating in murky waters right now. Being submitted to the stock market, to derivatives speculation and now the industrial impact from the shutdowns shows bitcoin is in a iron ordeal it never saw before.
April 02, 2020, 04:48:35 AM
As my own perspective and based on what we experiencing right now. Not only the china has an impact of corona virus because when the pandemic coronavirus are spreads throughout the world many countries are get infected to it and the crypto industry are also effect, all the currencies are drop at a lower price. In minimizing the impact of virus is to use the crypto currency instead of fiat currency, as we noticed it is easily spread the coronavirus through physical things and if we use the crypto we can prevent the virus from spreading it.
March 14, 2020, 09:36:20 AM
It is basically impacting in priority way and nothing more. They have something much more important to deal right now so they can't really make anything about crypto for the time being but that is about it, nothing more. I personally do not really think that we should worry about bitcoin or crypto in general right now and the price etc etc because whats going on around the world is a rare thing and not going to happen too frequently.
We are going through some rough patches as a world and 2020 has been a bit foggy but overtime we will definitely see an improvement on prices and of course China going into bitcoin a lot harder as well, just gonna take some time that's all. When you are dealing with stuff that are more important these things are not really becoming priority.
We are going through some rough patches as a world and 2020 has been a bit foggy but overtime we will definitely see an improvement on prices and of course China going into bitcoin a lot harder as well, just gonna take some time that's all. When you are dealing with stuff that are more important these things are not really becoming priority.
March 14, 2020, 09:07:07 AM
i think now, the effect impact on economy on around world, not only stock, forex, and another comodoty,
even in crypto we also get this effect.so this is very terrible,now that all economies are down, some people
will use that moment to take advantage of this very deep decline.
even in crypto we also get this effect.so this is very terrible,now that all economies are down, some people
will use that moment to take advantage of this very deep decline.
so you think that is bad when people use this opportunity to buy and hoard ? its not actually bad but its benficial in crytpos because in that way the value can easily returned while it was bad to buy and hoard medical stuff and other basic needs because that will make you selfish because the stocks of those items easily goes down and as a result others cant avail . this is the situation that are still happening . panic buying here and there . this impact is huge on china but other countries slowly get infected too or got affected too .
March 14, 2020, 07:46:47 AM
i think now, the effect impact on economy on around world, not only stock, forex, and another comodoty,
even in crypto we also get this effect.so this is very terrible,now that all economies are down, some people
will use that moment to take advantage of this very deep decline.
even in crypto we also get this effect.so this is very terrible,now that all economies are down, some people
will use that moment to take advantage of this very deep decline.
March 14, 2020, 04:59:11 AM
I was expecting that in moments of cryses BTC will show its glory but so far it is just a dissapointment. My hope is that with all these limitations cause of covid19, bank transfers will start moving slower and people will buy btc or crypto to pay for liquidities. Tho, this is not happening yet
Your expectations are not realistic. What you are saying is quite similar to expecting for instance eth to move separately from btc - you want btc to move separately from whole stocks market which is not happening.So btc would fall anyway in current situation
March 14, 2020, 03:20:22 AM
As long as a Blockchain company is what we are talking about here, I don’t really see anything wrong with working from home. Most Blockchain jobs are remote jobs, the only ones I think might be affected are the mining companies. I don’t really know how bitcoin mining farms works, but I think they have to be there to manage their farm or something.
But as for others, like exchanges and wallet companies, there is the possibility for their staff to work from home. Just like Exodus, their staff work from home, if you check their website you will see that. Another cryptocurrency company is Xapo, majority of their jobs are remote jobs and they work with Slack.
But as for others, like exchanges and wallet companies, there is the possibility for their staff to work from home. Just like Exodus, their staff work from home, if you check their website you will see that. Another cryptocurrency company is Xapo, majority of their jobs are remote jobs and they work with Slack.
March 12, 2020, 04:54:52 AM
I was expecting that in moments of cryses BTC will show its glory but so far it is just a dissapointment. My hope is that with all these limitations cause of covid19, bank transfers will start moving slower and people will buy btc or crypto to pay for liquidities. Tho, this is not happening yet
March 12, 2020, 04:53:29 AM
Of course, even one of the largest crypto mining companies in China was forced to close just because of the said epidemic, the NCov.
The global economy has really effect on the market's stock even in the virtual market it is also affected. Not just only by that, all online merchants have also announced delayed shipping due to the epidemic virus.
I hope someday everything will be okay.
The global economy has really effect on the market's stock even in the virtual market it is also affected. Not just only by that, all online merchants have also announced delayed shipping due to the epidemic virus.
I hope someday everything will be okay.
I don't understand why would they be closing it because of the epidemic.
It is not like they can't run it with the epidemic ongoing. If they couldn't all of those miners, they could just run some of them so they would keep on mining. Another thing is that, why would it disrupt cryptocurrencies when it can be used in times like these. Offline payments or fiats can be used more often since people are inside their houses scared of the disease.
March 12, 2020, 03:55:20 AM
It really affects their crypto industry because their is definitely a shortage for workers because there are lockdowns to prevent the further spread of the contagion. Not only do their crypto industry suffer but also their morale, people are becoming desperate when this is the time that should be more optimistic. I hope this problem won't last because this will cause a serious plummet in the crypto market.
March 12, 2020, 03:01:08 AM
The coronavirus has spread throughout the world and it has become an epidemic If the timely vaccine is made it can be cured and China's economy will not be disrupted. And the downside is that the impact of the coroner virus will hamper China's crypto industry because the virus is causing many people to become ill and losing their ability to work will only disrupt the crypto industry.
March 12, 2020, 12:40:47 AM
Since the spread of coronavirus and the need to take the necessary protective measures significantly violates the usual life of people, the world economy suffers from this. If this virus continues to spread at the same pace, it could trigger the onset of a global economic crisis. Already predicted that the damage from coronavirus could amount to 2.7 trillion dollars.
The virus negatively affects all markets, including the cryptocurrency market. However, it is hardly worth saying that this market is collapsing. Even in such a peculiar country like China. The cryptocurrency market is falling, but this process is temporary. The virus will be defeated and cryptocurrency will develop further.
The virus negatively affects all markets, including the cryptocurrency market. However, it is hardly worth saying that this market is collapsing. Even in such a peculiar country like China. The cryptocurrency market is falling, but this process is temporary. The virus will be defeated and cryptocurrency will develop further.
March 11, 2020, 10:31:03 PM
one day before lock this thread. i hope all of you will understanding.
positive coment, positive thinking
Be a Smart people
Of course I would like to write something positive in order to raise the mood of people, but we must face the truth, since the situation with the coronavirus epidemic is difficult not only in China, but also outside this country. Already today, the Prime Minister of Italy has announced a quarantine statement for the whole country where borders are blocked. And Israel, in turn, applies 14 days of quarantine to all who enter the country. Of course, this situation affects almost the entire business, both large and medium, and small, which will lead to certain financial problems and to another economic crisis. Based on this, in any case, the virus affects companies that are related to cryptocurrency, as well as miners that support the network. But for the sake of fairness, you need to voice the good news consists of the fact that they have already found a vaccine for the virus, and I hope that such a difficult situation will improve.positive coment, positive thinking
Be a Smart people
March 08, 2020, 10:49:36 AM
one day before lock this thread. i hope all of you will understanding.
positive coment, positive thinking
Be a Smart people
positive coment, positive thinking
Be a Smart people
Jump to: