The Link between Coronavirus and Cryptocurrency

Negotiation

sr. member

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Quote from: person0 on March 09, 2020, 05:30:47 AM

It seems to me that there is no connection with cryptocurrency. Cryptocurrency cannot depend on the virus when the virus (at the moment) does not pose a threat to humanity.

Crypto virus does not depend on it but when the economy of a country suffers the market is affected by the virus. If people are unable to do any work due to the virus then investment becomes less and demand is reduced. Then the price of each currency dropped.

jrrsparkles

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Corona virus resulted in complete shock on supply and demand chain on the world wide so it is the primary reason why everyone liquidate their assets to save themselves from financial crisis since cash is the king at these market situation.

josephsonand

member

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I think that the virus does not threaten cryptocurrency so much. Yes, I agree that the changes will affect the crypto sphere, but this is logical.

Subbir

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🎄 Allah is The Best Planner 🥀

There is no direct link between coronavirus and cryptocurrency but there are a couple of Because both economies are hindered. While the crypto market is employed worldwide the impact of the Coronavirus is somewhat high.

BADecker

legendary

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So, be sure to thoroughly wash your hands after handling cryptocurrency from someone else. Who knows what germs that crypto is carrying.

Roll Eyes

btc_love

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I'm sure that if movement is limited in Europe, if plants and other things stop working, then this will affect the entire economy as a whole. Not only in cryptocurrency.

boyptc

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People are in panic because of the said virus and they're liquidating their investments so that they can use it to buy goods and supplies. Here, people are starting to panic buy because there were reports that have been confirmed that there were affected ones.

It's also likely that they'll lock down the main districts to avoid further infection.

Club_Crypto

newbie

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Quote from: thottum on March 10, 2020, 04:13:56 AM

Quote from: Naida_BR on March 09, 2020, 05:03:21 AM

Quote from: Expert3 on March 04, 2020, 04:57:51 AM

In regards to NEWS about the COVID-19 AKA Coronavirus. We cannot deny the impact that it bring to financial markets, whether it's stocks or crypto. There were selloffs allover the place, one of indirect reasons is to liquidate for charity use or personal. In crypto markets, it's still indefinite but as things unfold, aftermath is what we are able to see.

https://cryptoiscoming.com/the-link-between-coronavirus-and-cryptocurrency/

Many people claim that people will start turning to the cryptocurrency markets as the traditional financial markets go to a downtrend due to the coronavirus.
I wonder if this is going to be true. During the last days the cryptocurrency markets and the bitcoin price have dropped significantly during the last days which is not the correct movement according to the COVID19 claim.

We are considering the BTC as an asset class similar to gold including myself. So in that case, if the stock market crashes the money should flow into gold and BTC. But in reality, if we compare the past charts both BTC and S&P 500 have some major correlation in the price movements. As we know the global stock market is negative because of the COVID19 and it's affecting the crypto market as well and commodities like oil are also taking a big hit on it. This article is a bit old but has something to think about it

https://blog.bitmex.com/bitcoin-price-correlation-record-high-against-the-sp-500/

Technically there's an undeniable correlation between BTC and S&P 500. And now we are seeing that a biological virus can turn into a finacial virus in a sense. But let's face it, the structural problems of the markets are not because of the Covid-19. Not at all. This is an old disease, that has made the economies very sick for years and now we are slowly seeing the outcomes. Now the traditional media tries to point to this virus as the cause but we all know it is all BS.

thottum

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Quote from: Naida_BR on March 09, 2020, 05:03:21 AM

Quote from: Expert3 on March 04, 2020, 04:57:51 AM

In regards to NEWS about the COVID-19 AKA Coronavirus. We cannot deny the impact that it bring to financial markets, whether it's stocks or crypto. There were selloffs allover the place, one of indirect reasons is to liquidate for charity use or personal. In crypto markets, it's still indefinite but as things unfold, aftermath is what we are able to see.

https://cryptoiscoming.com/the-link-between-coronavirus-and-cryptocurrency/

Many people claim that people will start turning to the cryptocurrency markets as the traditional financial markets go to a downtrend due to the coronavirus.
I wonder if this is going to be true. During the last days the cryptocurrency markets and the bitcoin price have dropped significantly during the last days which is not the correct movement according to the COVID19 claim.

We are considering the BTC as an asset class similar to gold including myself. So in that case, if the stock market crashes the money should flow into gold and BTC. But in reality, if we compare the past charts both BTC and S&P 500 have some major correlation in the price movements. As we know the global stock market is negative because of the COVID19 and it's affecting the crypto market as well and commodities like oil are also taking a big hit on it. This article is a bit old but has something to think about it

https://blog.bitmex.com/bitcoin-price-correlation-record-high-against-the-sp-500/

Mttewndew

jr. member

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Let's hope that the virus will not be able to have any tangible effect on crypto.

person0

newbie

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It seems to me that there is no connection with cryptocurrency. Cryptocurrency cannot depend on the virus when the virus (at the moment) does not pose a threat to humanity.

Naida_BR

member

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Quote from: Expert3 on March 04, 2020, 04:57:51 AM

In regards to NEWS about the COVID-19 AKA Coronavirus. We cannot deny the impact that it bring to financial markets, whether it's stocks or crypto. There were selloffs allover the place, one of indirect reasons is to liquidate for charity use or personal. In crypto markets, it's still indefinite but as things unfold, aftermath is what we are able to see.

https://cryptoiscoming.com/the-link-between-coronavirus-and-cryptocurrency/

Many people claim that people will start turning to the cryptocurrency markets as the traditional financial markets go to a downtrend due to the coronavirus.
I wonder if this is going to be true. During the last days the cryptocurrency markets and the bitcoin price have dropped significantly during the last days which is not the correct movement according to the COVID19 claim.

MrMcKinney

newbie

Activity: 24

Merit: 0

Quote from: $crypto$ on March 07, 2020, 12:29:21 PM

There have been many hears about Covid-19 especially in the global economy as well as other stocks and trading but here I say Covid-19 will not affect the crypto market because their goals are different so that crypto is not swayed by any news except FUD.

The only thing that can be done now about Covid-19 is to prevent it from being affected in our region because we know that Covid-19 has spread worldwide.

The effect can be seen now tho, have you seen the drop of oil prices? Its crazy and massive - and thats one factor.

plast555

sr. member

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Quote from: Expert3 on March 04, 2020, 04:57:51 AM

In regards to NEWS about the COVID-19 AKA Coronavirus. We cannot deny the impact that it bring to financial markets, whether it's stocks or crypto. There were selloffs allover the place, one of indirect reasons is to liquidate for charity use or personal. In crypto markets, it's still indefinite but as things unfold, aftermath is what we are able to see.

https://cryptoiscoming.com/the-link-between-coronavirus-and-cryptocurrency/

There is no doubt that it is the reason for the stock market correction we have seen so far and does it change to a crash it depends on the further impact of the virus on the economy. Still, the world economy has taken a huge hit because of this UNO has accused the countries of not taking adequate measures beforehand to control the disease. If this disease is not controlled then the economy will face a recession in the near future the global supply chain is in danger because of this.

At the same time, gold has increased a lot in recent times as the money is moved from stocks to gold. This may also be the reason for the crypto price to pull back from the recent correction

$crypto$

legendary

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Smart is not enough, there must be skills

There have been many hears about Covid-19 especially in the global economy as well as other stocks and trading but here I say Covid-19 will not affect the crypto market because their goals are different so that crypto is not swayed by any news except FUD.

The only thing that can be done now about Covid-19 is to prevent it from being affected in our region because we know that Covid-19 has spread worldwide.

Expert3

jr. member

Activity: 230

Merit: 4

In regards to NEWS about the COVID-19 AKA Coronavirus. We cannot deny the impact that it bring to financial markets, whether it's stocks or crypto. There were selloffs allover the place, one of indirect reasons is to liquidate for charity use or personal. In crypto markets, it's still indefinite but as things unfold, aftermath is what we are able to see.

https://cryptoiscoming.com/the-link-between-coronavirus-and-cryptocurrency/

Topic: The Link between Coronavirus and Cryptocurrency (Read 191 times)