Topic: Virus Bear Market? - page 4. (Read 1786 times)

The decision of the investors to sell is reflecting on the market thats why it crash drastically few weeks ago. Even we like to hold our assets for long period there are times we are put in emergency situation just like this and we have no choice but to sell especially if we are not prepared and dont have cash to spend.

Nevertheless the market is way better now compared to its state before so if we overcome this problem about the virus I think thats the time for us to expect another bullish market in the future.

There isn't a strong negative correlation, so probably not. Stocks, BTC, and gold have all recovered together since the crash. Gold is just outperforming them both by an impressive margin.


Gold has been valued throughout the world for many thousands of years. Bitcoin has existed for ~11 years. What did you expect to happen? Financial and economic crises aren't usually kind to risky assets.

Gold production is way down right now, as the world's biggest producers have shut down. That's been a huge boon for price. Less supply means higher prices.

So it looks like Bitcoin is correlated to the stock markets.

But Gold market however is looking to reach a new ATH now.

So shall we assume if Gold comes down in price then BTC will go up?

Why cant BTC be a independent market like Gold?

Nice theory but you will never be able to back it up by evidence. Please read how much plus token has scammed and how much of that was sold last year.
If there are any corections they are 100% not the result of plus token.
Also, all those $1000 predictions lack substance. I'll repeat after a number of smart people in the scene: the bottom is in. You can accept it or try to fight it and argue. Either way, you will never be able to buy a $1000 bitcoin again, sorry.

now I think crypto is more stable with support at 6500$ but everyday COVID19 becoming more and more dangerous I am worried because of that in 1-2 months maybe crypto will fall bellow 2500$. but good thinks that many countries trying to find a cure so if this works crypto might pick from here and touch 10000$.

There is no doubt that the ongoing COVID 19 outbreak is definitely one of the major reasons for the bearish movements in the cryptocurrency market. But at the same time, there are a lot of other events which are taking place in the background and they don't get much media attention. During the past 2-3 weeks, we had two major dumps by PlusToken scammers, which tanked the exchange rates by close to $1,000 each on both occasions.

Not only bitcoin, altcoin has also been negatively affected by this virus. only Usdt remains stable ... is this a sign that we are better off switching to Usdt? but it's just the same as we save dollars. I suggest besides Cryptocurrency is gold.

Gold dont crush because the value of fiat is made considering the national gold reserves, this could be a explanation.

This is the problem because small holders now need to release their long time holding funds just to sustain foods in their tables because of this pandemic.
Some of my friends in Group are now accepting the fact that after long term holding they have no choice but to sell out the precious holdings.
This same reason why now most of the holders are affecting the market value because of dumping.
But we need to be strong specially we that can still mange to hold even there are some shortage happening because of limited fundings we can find this time of Virus.

I can still feel that this year's halving will provide a significant increase on the price. However, I admit that the chances are getting low as the situation is getting worse. So we must move fast right after the after the halving because we might miss the boat .
Of course, whether when it comes to the virus or crypto world, it will be recorded. But I think the Bitcoin's worst halving (if ever happen) will be more memorable for us compare to the damage done by the pandemic. Because if we compare this Covid 19 to previous pandemics happen like the Black Plague or Spanish Flu, it was nothing. Nevertheless, I hope this pandemic will end soon.

I think there will be a small effect to the price of the bitcoin after the halving or maybe there will no effect at all. This crisis will be recorded in the history because of the collapsing of the economy. It is true that there are now investors who are selling their cryptocurrencies and other speculative assets because they need cash to survive while the lockdown is still occurring. I don't know on how many days it will take before our economy to recover.

All people are affected on this pandemic this includes cryptocurrency investors. Most had sell their crypto to be able to survive since the pandemic had caused the ecomy to fall. This totally affected crypto market as a whole. If the economic effect of the will last for a year,  the crypto market as we expect it to grow when the halving occurs might not take it's course.

Interestingly I would agree that price couldn't go back to pre-pandemic times but it looks like it is in recovery, there is absolutely nothing that should make it in recovery, by all accounts it should be going down even further but looking at what is going on right now I would say it is widely ignoring all of that and everywhere around the world economy is "recovering" somehow.

Not the pockets of people who needs to buy stuff, like you and me, but stuff like gold, stock markets and crypto all look like they are recovering which normally should be indicator of how people are doing but right now it is not, its literally the reverse. So, they are actually going up despite of all the potential bad stuff going around right now and how the future is looking.

The market is already in a good position now. After falling to $3k, the bulls were able to pull the price back up and after circling $5k and $4k price range, the price was able to move up to $6k price and stayed stable for a time and then moved to the current $7k price.

So I wouldn’t say that it’s bearish, it’s progressing smoothly. You also need to have it in mind that Bitcoin is a volatile asset, so at anytime, anything can happen. That the price is going up now doesn’t mean it’s not going to drop down to a low price, that can still happen, but for now the price has been increasing and I’m happy with that.

Emitting means printing? Is that correct? because it's truly that they are doing that to produce more money so that everyone can survive the crisis and that's the solution to provide more budget to supply things.

Specially in medical gears, there's a lot of countries that's facing the shortage.

And to the wise people who are taking advantage of the scenario, not afraid of investing and chose to buy bitcoin. They are in good hands and time will tell for this decision that they have made and it will make them proud.

Google trends doesn't matter. It doesn't meaningfully correlate with price.

Trapped shorts and sellers from below $6K have provided a lot of buy pressure up until this point.


I don't think price can return to pre-pandemic levels so soon. There's been a massive economic contraction that is still ongoing. This needs to be priced in.

What you mean emitting their national currencies?

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Are markets in a dead cat bounce now? and do we expect to see a lot of volatility in the Dow Jones and BTC markets in the coming weeks while this lock-down is still in place?
Bitcoin is over 7k now. Whos buying it to keep it above 7k as google trends does not correlate to this?

These are the conditions I see:

- Dow Jones and BTC will go up and stabilise back to normal figures before the pandemic if we either get out of lock-down or Vaccine is announced or people have to spend their govt bail out cheques on BTC and the stock market to keep the markets stabilised. Gold will come down in price. Which one is it or what you think it is?

Or

- Dow Jones and BTC will be volatile during lock-down and these lock-downs can be extended by govt for months or even into next year meaning we will see a volatile virus bear markets with a lot of bull traps and bear traps during this period? Possible for newer market crashes in lock-down period? Gold can reach all new ATH's.


If you disagree then whats your long term analysis you like to share with us?

[moderator's note: consecutive posts merged]

I feel that during this crisis a majority of countries will be emitting more of their national currencies, resulting in a growth of main cryptocurrencies.
I believe that it will be wise to hold BTC for next 2 months or so.

The corona virus ultimately affected a lot of people around the globe, with the quarantine, a lot of people are losing jobs or income to pay for their needs especially those who have already responsibilities or family with them. Losing income leads people and possible holders or investors of Bitcoin to sell, thus, making the price of and demand for the coin to go down.

But, these days have shown a significant increase in the price of Bitcoin, wherein, we could conclude that it is gradually recovering and people starting to adopt in the crisis.

I would like to answer the questions you ask based on my own experience and knowledge. I warn you at the very beginning of my comment, I am not a professional economist and my answers are based on my own thoughts and experiences.

1) Covid-19 virus recently caused the crash of btc over a week ago?

The virus caused a great shock not only in the cryptocurrency markets, but in all world markets. Yes, Bitcoin and alternative cryptocurrencies have also had a major impact, but this was true for all markets, not just the cryptocurrency markets. So, it's not just something that has affected Bitcoin price or crypto markets.

2) Government saying this virus hype can last till next year, meaning Btc crash will be sustained to new lows this year similar to a virus bear market till next year when the virus fear hype is over?

Unless the virus loses its effect, it will have a bad effect on all economic markets. That is why if this virus spreads over a long period of time, the crypto markets will also be affected.


3) Will Btc halving this May coming will get us out of this virus bear market?

Although it is certain that the halfway process will have a positive effect on the price, I do not think it will end bad market conditions. If the virus loses its effect until the halfway process, it may be reasonable to expect serious increases in price with the half-effect.

4) Whats covid-19 virus got to do with Bitcoin? Its not a computer or blockchain virus that attacks btc so why Btc crash?

Actually, I wrote the answer to this question in the answer of the first question. The virus affected the cryptocurrency markets badly as it affected the world markets in general. For this reason, there have been serious decreases in the prices of Bitcoin and alternative cryptocurrencies.

5) In global recessions/depressions/global economic meltdowns people turn to gold/silver and digital gold such as bitcoin so why bitcoin crash and gold market not crashing in times like these?

Due to the bad market conditions, many people actually sold instead of buying Bitcoin. For this reason, Bitcoin price declined and could not keep up with the gold / silver price.