Topic: Trump gets Covid and we Crash? - page 4. (Read 864 times)

Most of the world population will be infected at some stage, so it is good news that he is getting his immunity at last. The surprise should be that it has taken so long. Anyway, the test only check for antibodies, so that means his body is coping with the infection. That assumes that the teat is accurate of course.

It was like a coincidence, for what happened just lately in Bitmex, followed by Trump acquiring Covid 19. I can say, we will have a declining market this October.

I am not directly correlating the impact of US president especially in the US presidential election, but Trump as far as I know is a business tycoon with huge relation to stocks, and stocks on the other hand has also relationship with crypto as other stock investor is also eying on cryptocurrency and might also have investment on crypto too.

This will be the catalyst for a big dump, but it will be good, all the market will react negatively, like crypto, already down 2%, Nasdaq, DOW, S&P. So this is another chance to accumulate again. So let's see what will be the effect in the next 24-48 hours, we might see a bit more downside.

And this might shake the US economy, it has been reported that it has slumped to 31% in Q2. And this might be good for Bitcoin though, smart investors from traditional markets are looking for other assets to hedge their funds and this is where crypto comes into picture.

You are absolutely wrong here and you become more wrong with each passing month that more institutional money flows into bitcoin. You've been wrong on this issue for years, you're wrong today, and you'll be even more wrong tomorrow.

https://www.investopedia.com/news/why-bitcoin-new-stock-market-indicator/
https://www.coindesk.com/bitcoins-price-correlation-with-sp-500-hits-record-highs
https://cointelegraph.com/news/correlation-between-bitcoin-price-and-stocks-reaches-a-new-all-time-high
https://www.forbes.com/sites/investor/2020/05/13/bitcoin-and-stocks-correlation-reveal-a-secret/#482b503112c2
https://currency.com/why-bitcoin-correlations-with-the-s-p-500-are-worrying-right-now

This is the most recent article and definitely worth a read:

https://blockchain.news/analysis/Why-bitcoin-price-correlation-stock-market-is-high-now


I'm talking about the sudden drop in the US stock market that happened in March, during which bitcoin dropped right alongside it. On that day there was absolutely 100% correlation between the stock market and bitcoin: Sensing panic, Wall Street investors pulled their money out of high risk investments, one of them being bitcoin, causing the price of bitcoin to drop. It's not an extraordinarily difficult concept to grasp -- I don't understand why you are fighting it so hard.


Yes and the financial health of that world is largely dependent on what happens inside of the US, just like bitcoin. Its an easily-visualized, inescapable reality.

i don't disagree. if something noteworthy happens that affects the global economy then it can also affect bitcoiners financial situation and that changes their plans. but there still is absolutely no correlation between stock market and bitcoin.

that's your mistake. what happened with Covid was not US specific (whereas Trump getting Covid is). it was global and the global economy was affected hence bitcoin was also affected. again believe me when i say there is an entire world outside of US

it's actually funny that not so long ago everyone was saying that China controls bitcoin and whenever some crap happened there everyone jumped at bringing up the same arguments. now China is replaced by US! for example back in 2016 everyone was saying the same exact thing: "Chinese stock market pumped bitcoin price" and "Shanghai market index dumped it" in 2014!

This recent price dump is not that big compared on what happened in March dump. And also those who buy during the dump due Covid are those user that sold during early stage of the dump to get a new position on BTC. We can't give all the price recovery to wallstreet because we have no evidence and also the order book of BTC during that time was very thin that's why price was too easy to pump again.

This current minor pullback is just a result of whale that panic sell when they read the news about bitmex. He will re enter soon once everything was settled that will result for price recovery.

You are already updated, I think there is no too much impact with the use of this on the cryptocurrency especially to the bitcoin, but I think we still need to monitor all the things might happen because recently there is unstable market movement of the bitcoin (well the market is volatile), also trump is already prone to the covid he goes into different places at the same time reaching different people, aside of it we need to consider the age too, but this has still impact on their country and needed to take an action because most of the rules and the instructions are came from the president.


Panic selling is not too much prefer because there is no activity yet with the market movement, also if you got a wrong prediction or move it might cause of the mistake and lose your money.

Now you're oversimplifying things. I did not say that every 1-2% price drop is due to what happens in the stock market. At times - if not frequently - there is no correlation between the two; after all, the U.S. stock market is only open for 8-9 hours a day. However, when something drastic or nationally newsworthy happens that makes investors worried, they dump their highest risk asset first, which is... can you guess what it is? Bitcoin! Bitcoin is the most risky asset category known to man (or Wall Street anyway).

Given what happened with the covid market crash in March, its hard to miss the fact that Wall Street now owns a decent amount of bitcoin, and its easy to understand that their frame of mind could rub off on the bitcoin market as a whole. The more institutional investors enter the scene, the clearer this correlation will become. I suspect you'll never admit to being wrong, but that's OK, there's not much more I can say to change your mind.

I don't think that this time Wall Street will allow everyone to buy cheap bitcoin! In March, the collapse of Bitcoin was not very expected! This time everyone is just thinking about it!
And it is not profitable to drop the markets before the upcoming elections...

you are trying to convince me that 1% to 2% price drop which is literary the most common fluctuation size that bitcoin has almost every day and is also ignored by everyone as "drop" (or similarly rise when it goes up) is bitcoin following stock market. well i'm not convinced.
in the past week alone (starting from September 25) we've seen at least 6 similar tiny changes where price creeps up to $10900 and comes back down to $10200 and repeats this trend again and all the 1-5% drops and rises in between. which means this current "drop" has absolutely no significance. it could have if price has been dead-stable and was going from $10500 to $10550 then back down for 2 weeks! or if the price drop were down to $9k range.

Yeah both of them have been reported to have acquired the virus. For Ivanka, she can certainly get through this without much complications considering that she's asymptomatic, and is still fairly young to have a robust immune system. For Trump however, I have doubts once he gets it. He's old, possibly a lot of ailments and would not survive advanced stages of the virus. Or this is just a ploy to skip the next debate so that the US will not see yet another shitshow coming from Trump. For the correlation of this event to bitcoin, I see none, really, since politics is a completely different realm from cryptocurrencies. No sharp price movements have happened yet and no other news are happening on the side of the stocks either.

Yes we should have to understand the kind of coin we are holding, there’s no need of selling your coin until the need arise, Let us have confidence on bitcoin, because there is no amount of panic that we make us sell out the cash we have at hand, I do understand that bitcoin is not a physical money, but let not think about selling off our bitcoin when ever there is a panic, it is really affecting our crypto market. Let have confidence on bitcoin.

You responded to what he said in the negative, but OK, anyway... What I really want to know is why you insist on missing the bigger point. The long-term trend of the stock market doesn't matter because that's not relevant to this discussion. What is relevant is that the president's tweet dropped stock market futures, and bitcoin immediately followed suit.


Again, you completely overlook the point to avoid having to admit you've been wrong when insisting there is no correlation between BTC and traditional markets. The point isn't about how drastic BTC moves due to the stock market, its that it does move due to the stock market.

i'm not saying he is wrong, i'm saying there was already a downtrend in general going on and 1% is S&P futures is not a new thing when there were already bigger drops happening.

the reality is that 1-2% drop in bitcoin market is not even close to being the same as 1-2% drop in any other market.
you could say "same thing with BTC" only if bitcoin price had dropped about 15% at least to match the scale. daily fluctuations of bitcoin price on a normal day that nothing is going on are 5% as it is!

that's true but US has been having lots of bad days lately while bitcoin kept rising and reached $10k and remained above it.

No news of Trump getting the infection, only Melania Trump got the infection at the moment. I can count several incident in September/ October that should have dump the market so badly after the sushi hack but the dump was mild. Second Defi exit scam, Kucoin hack, Rumour on stock market dump, Bitmex refund, Salt ICO refund, They are related to daily crypto trading and could not dump the market. IMO it looks more bullish

Perhaps a market crash will positively affect the price of bitcoin.
Many investors have already invested in bitcoin because they consider it safe to invest. The number of stablecoins may increase.
But other altcoins may have problems.
Bitmex is in trouble because they wanted to escape to the Seychelles
https://twitter.com/Melt_Dem/status/1311702185303068672

BitMEX isn't even an exchange. You can't actually trade anything for anything there -- you just cash in BTC for fun tokens, play the games, then cash out your remaining fun tokens for BTC. It's quite different than an actual cryptocurrency exchange, and as such, it demands a different regulatory approach. Not to mention BitMEX was knowingly servicing 80,000 US customers even though it goes against their own policies (in addition to US regulations).


Yes, as we speak. He's talking about S&P futures which are open while the markets are closed. You can see the index fall at the exact time of Trump's tweet:



Same thing with BTC, except for maybe a couple minutes behind:



Weird to see you still completely in denial of reality. There's an entire world outside of the US that depends on the health of the US financial system. This includes bitcoin. If the U.S. has a bad day, bitcoin is going to have a bad day too. This is the way it is now whether anybody likes it or not.

Because of Wall Street's increasingly hefty investment in bitcoin, the two are inexorably connected, now more than ever. I've explained to you the exact connection between the two before and provided evidence that it exists but you just shun it all in order to maintain an outdated viewpoint. Why?

I know you're going to say this is just another coincidence in a long line of previous "coincidences" that tie together the stock market and BTC, and even if it was a correlation its short term and not long term, etc. But for everybody else who isn't beholden to an outdated idea this is further evidence of a paradigm shift away from bitcoin's independence from global financial markets. It's a new paradigm (that had been in the making since 2014) where the price of BTC no longer moves independently of world markets.

To quote Trump, "It is what it is."

With the news there is more chance of market crash to some extent, because the cryptomarket is being connected to the world market. During the pandemic when global economy experienced continued fall due to long term lockdown the crypto market was stabilizing itself. This means covid-19 positive for Trump and his wife isn't that big compared to it. So, to some point there'll be price fluctuation and gets bouncing soon after.

This how our "independent" from global market industry works. Anything could cause new dump here, sorry

what bitmex stuff? an exchange facing criminal charges? that is new to you, everyone already knew exchanges were shady and many of them were involved in criminal activities, mainly manipulation of the market which is illegal and has severe consequences even if it seems normal.

not as we speak, over the past month S&P500 has gone down nearly 10% and that's huge for stock market.
meanwhile bitcoin price is stable above $10k.