Virus Bear Market? - page 5. | Bitcointalksearch.org

Magkirap

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Quote from: pixie85 on April 04, 2020, 07:16:26 PM

Quote from: verita1 on April 02, 2020, 04:05:40 AM

I agree! We must overcome Covid19 to recover the market and it will not be an easy task because the pandemic will leave a bleak environment. We must work hard to recover everything we have accomplished in the crypto market. Sadly, we are seeing humanity threatened by a very dangerous pandemic.

The virus did not crash the market. The panic caused by countermeasures did.

How many people died from this virus? How many of those dead people did not have any serious health problems before catching the virus? Not many.

The virus killed only 64000 people in 3 months. Lung cancer kills almost 2 million people every year! You have at least 20 times greater probability od dying from cancer but there's no panic and countries are not shutting down because of cancer.

The real threat is the death of tourism and a possible bankruptcy of airlines, hotels, cinemas and restaurants all around the world.

Indeed, it is not the virus itself that causes the market to crash but the actions of people who are experiencing panic. Actually the virus have no serious effect to the crypto market, our economy is the real thing that is in danger here just what you have said. Companies that have no relation about foods or goods that needed right now will be facing huge loss because of this virus, there are the ones in danger and it will have huge visible effect ones we get out of this crisis.

pixie85

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Quote from: verita1 on April 02, 2020, 04:05:40 AM

I agree! We must overcome Covid19 to recover the market and it will not be an easy task because the pandemic will leave a bleak environment. We must work hard to recover everything we have accomplished in the crypto market. Sadly, we are seeing humanity threatened by a very dangerous pandemic.

The virus did not crash the market. The panic caused by countermeasures did.

How many people died from this virus? How many of those dead people did not have any serious health problems before catching the virus? Not many.

The virus killed only 64000 people in 3 months. Lung cancer kills almost 2 million people every year! You have at least 20 times greater probability od dying from cancer but there's no panic and countries are not shutting down because of cancer.

The real threat is the death of tourism and a possible bankruptcy of airlines, hotels, cinemas and restaurants all around the world.

exstasie

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Quote from: very_452001 on April 04, 2020, 05:58:10 PM

Whats this I'm hearing about Tether USDT printing a lot of tokens not backed by real cash? Is it Tether keeping BTC on a life support machine during this virus pandemic keeping BTC above 6K?

There hasn't been evidence Tether has ever printed unbacked tokens.

This is what happened: Bitfinex and Tether are related. Same directors, same everything. Bitfinex's banking partner (Crypto Capital) had accounts worth $850 million seized by regulators. To fix the USD liquidity problem, they borrowed money from Tether, thereby making USDT no longer 1:1 backed by USD. When this came to light and people started freaking out, they launched a private token sale raising $1 billion to cover the shortfall.

I don't think Tether is "keeping BTC on life support." I think the March crash wiped out an insane amount of liquidity. There just aren't many sellers left right now.

Quote from: very_452001 on April 04, 2020, 05:58:10 PM

Whats the implications for BTC if there is no audit for Tether USDT?

Nobody cares about a Tether audit. Everybody knows it's not coming.

very_452001

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Whats this I'm hearing about Tether USDT printing a lot of tokens not backed by real cash? Is it Tether keeping BTC on a life support machine during this virus pandemic keeping BTC above 6K?

Whats the implications for BTC if there is no audit for Tether USDT?

FlightyPouch

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Quote from: verita1 on April 02, 2020, 04:05:40 AM

I agree! We must overcome Covid19 to recover the market and it will not be an easy task because the pandemic will leave a bleak environment. We must work hard to recover everything we have accomplished in the crypto market. Sadly, we are seeing humanity threatened by a very dangerous pandemic.

And that will start by us following the quarantine policies of the government and our community. The pandemic is not directly affecting the price but it does on those people and selling some of the crypto currency investments so they would have some money they can use to buy foods and other kinds of stuff. I hope everyone is safe and keeps on looking at the price.

barbara44

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I love days like this, many bear people will go away to hiding in these days and they will not talk about "how bad bitcoin is and how it is dying" because its an awesome day, watch them go out of hiding when price goes down once again, whenever price goes down they go into hiding and can't answer the awesome increase in the price but whenever it falls they start talking about how bitcoin is dead once again.

Right now price looks to be around 6.9k levels, a bit higher than that but not 7k just yet, when the year started we were around 7.1k to 7.2k which means we are literally 200 dollars behind what the year to date price would be. There is corona, there is 50k+ death, there is economic scare, everyone is afraid, all markets collapse, yet bitcoin is literally less than 2% behind what it would need to be profitable.

Twentyonepaylots

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Quote from: bearexin on April 04, 2020, 09:33:45 AM

I'm not sure of a bull run this year after the halving on May. Before we were all hoping that the next halving will get us out from the low range, but now we are not sure about that. We are already in the month of April, so the halving will be taking place in a month and few days.

The halving event comes near and near every day, I'm not worried about the price if it goes up, down or not, whatever happens, happens. Just stick at what the past halvings did to the price of bitcoin well even it just last for a week or two then dump again. If bull run does not come off after the halving then we might wait again for a very long time. Just curious, every time we can start the bull run so why do we need to wait for the halving to come? haha.

Quote from: bearexin on April 04, 2020, 09:33:45 AM

It will be better that we all have patience and wait till then to know where the price will go to after that. Then as for whether the covid-19 situation around the world caused the decrease in Bitcoin? That's what I'm not really sure about, though I have believed that it was the reason, but some people here have doubted that it caused it. Some fanatics are saying that covid-19 can never affect Bitcoin lol. This is a pandemic and it affects everything.

Yeah, patience, might give you the reward that you are waiting or the thing that fool your eyes for a very long time. Upgrade your instinct and analysis that will be the stair to another floor.

bearexin

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I'm not sure of a bull run this year after the halving on May. Before we were all hoping that the next halving will get us out from the low range, but now we are not sure about that. We are already in the month of April, so the halving will be taking place in a month and few days.

It will be better that we all have patience and wait till then to know where the price will go to after that. Then as for whether the covid-19 situation around the world caused the decrease in Bitcoin? That's what I'm not really sure about, though I have believed that it was the reason, but some people here have doubted that it caused it. Some fanatics are saying that covid-19 can never affect Bitcoin lol. This is a pandemic and it affects everything.

Arkann

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Quote from: exstasie on April 03, 2020, 09:01:52 AM

Some analysts believe the curve is flattening in Italy, Spain, and France: https://twitter.com/carlquintanilla/status/1246034563509477376/photo/1
If that theory is confirmed over the next week or so, it could be fuel for further relief rallying in stocks, real estate, commodities, and so on. It could help usher in a new narrative that we are in the "recovery phase" rather than a crisis.

On the other end of the spectrum is Sweden. No closings of schools or businesses, and the government only issued social distancing measures yesterday for the first time. It'll be interesting to see how the situation progresses there. I hope it doesn't become the next place where cases surge. https://www.insider.com/sweden-a-scandinavian-hold-out-finally-set-distancing-guidelines-2020-4

You really have very interesting observations on the performance of these countries and a rather optimistic mood, but it seems to me that we can only hope for an improvement in the economic situation if the spread of the virus decreases. Namely, quarantine is a very effective way, but this method adversely affects the economy or impedes its development completely. We have to admit the fact that only a few weeks have passed since the virus began to spread in Europe, and economic problems have already reached large scale, while in the United States of America the problems are growing almost every 24 hours and the government expects very bad consequences already in the next two weeks. Based on this, I believe that we can hope for certain results only by looking through the prism of the fight against the virus in a certain country. Although taking into account the cryptocurrency market, this sector will only develop, even in conditions of complete isolation.

exstasie

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Some analysts believe the curve is flattening in Italy, Spain, and France: https://twitter.com/carlquintanilla/status/1246034563509477376/photo/1

If that theory is confirmed over the next week or so, it could be fuel for further relief rallying in stocks, real estate, commodities, and so on. It could help usher in a new narrative that we are in the "recovery phase" rather than a crisis.

On the other end of the spectrum is Sweden. No closings of schools or businesses, and the government only issued social distancing measures yesterday for the first time. It'll be interesting to see how the situation progresses there. I hope it doesn't become the next place where cases surge. https://www.insider.com/sweden-a-scandinavian-hold-out-finally-set-distancing-guidelines-2020-4

michellee

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Quote from: Xampeuu on April 02, 2020, 11:45:12 PM

Quote from: Negotiation on April 02, 2020, 04:19:16 AM

It's a threat to humanity okay but we can certainly get rid of the beer market. If we increase the market demand by investing then it is possible to recover The market is not controlled by anyone. The market is likely to rise on demand. Due to the virus many people have gone to market and demand has decreased.

I don't think it is easy to increase demand, with uncertain conditions, I think many investors have chosen to wait and see to monitor market behavior, and see the development of the corona virus outbreak. almost every sector of the economy was disrupted by this outbreak

Right. I think they still wait for a while. They see the market can increase significantly this time, and that makes them watch closely of the market. But soon, after the price can down for a moment, they will use that time to buy bitcoin. I am sure that the increase in demand will happen in the market, and it's all about time that will answer. Meanwhile, we need to stay calm at this moment so we can prevent the virus outbreak in our environment.

Xampeuu

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Quote from: Negotiation on April 02, 2020, 04:19:16 AM

It's a threat to humanity okay but we can certainly get rid of the beer market. If we increase the market demand by investing then it is possible to recover The market is not controlled by anyone. The market is likely to rise on demand. Due to the virus many people have gone to market and demand has decreased.

I don't think it is easy to increase demand, with uncertain conditions, I think many investors have chosen to wait and see to monitor market behavior, and see the development of the corona virus outbreak. almost every sector of the economy was disrupted by this outbreak

Negotiation

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It's a threat to humanity okay but we can certainly get rid of the beer market. If we increase the market demand by investing then it is possible to recover The market is not controlled by anyone. The market is likely to rise on demand. Due to the virus many people have gone to market and demand has decreased.

arowana33

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Quote from: verita1 on April 02, 2020, 04:05:40 AM

I agree! We must overcome Covid19 to recover the market and it will not be an easy task because the pandemic will leave a bleak environment. We must work hard to recover everything we have accomplished in the crypto market. Sadly, we are seeing humanity threatened by a very dangerous pandemic.

You are right on this. I hope the humanity will be strong and fortunate enough so we'll have to care about such things as cryptocurrencies, not our survival.
Because if we won't overcome a virus fast enough - we'll meet a very very rought times my friend

verita1

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I agree! We must overcome Covid19 to recover the market and it will not be an easy task because the pandemic will leave a bleak environment. We must work hard to recover everything we have accomplished in the crypto market. Sadly, we are seeing humanity threatened by a very dangerous pandemic.

ethereumhunter

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The crashing of bitcoin is because people panic on the current situations, and makes them sell bitcoin to have money to buy their needs. I don't think that will give more impact to the market except for the virus still attacking people, and many of them are dead. If that happens, then people will sell more to have money to survive, and that will impact the bitcoin price too. But every possibility can happen.

We can hope that with the halving of bitcoin, it will help us to get out of this bear position and the bull will come again to us. For the truth, I don't know what a correlation between covid-19 with bitcoin is, but I only see the market is down too deep but gladly, right now, the market still trying to break the high price.

I think many people out there don't understand about bitcoin, so they prefer to have gold as the safest investment right now. But if people can read more and study about bitcoin, they will see that bitcoin can be a new type of investment besides gold.

CHENIEN

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many active traders are failed to access their position to bear market due to covid-19 which are impacted too many countries, to protecting the economy the minimum wage volume of supply for the delivery of some particular goods which is coming from the other countries are eventually minimized, for the protection of people away from the virus because buying and selling products to all particular sector of the bear markets are decrease and many traders are suffering major losses in their portfolios.

exstasie

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Quote from: very_452001 on April 01, 2020, 01:47:15 PM

If it does get ugly then are we looking to break the 4K floor or will the 4K floor hold like the last crash couple of weeks ago? If the worse then whats the absolute bottom btc will crash to? 3K or even below that?

It depends how strong the panic is. Nobody can predict that. Nobody could have predicted the market would stop at $3,850 either. That's more a matter of market psychology and liquidity than TA or fundamentals.

My personal opinion is we've already reached peak panic in BTC and won't see prices below the $4K-$5K range again. I think we will keep trading within this contracting range:

Quote from: very_452001 on April 01, 2020, 01:47:15 PM

BTC will always Sync to to the Stock Market? That means BTC can only un-sync from stock market if the masses buy BTC to hedge their fiat wealth?

BTC (and everything else pretty much) correlates to stocks during global liquidity crises. Once we exit the crisis phase (and definitely once we enter the recovery phase like Q2 2009 on) I expect them to diverge.

Lizzylove1

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People are dying in thousands and economy of nations are shutting down, people been laid off their job. It's only those who are not hungry that will inject good money into the cryptocurreny market. I don't yet know where the fund is coming from to push up the market since the world are in turmoil, I hope this virus should have die down by mid-April.

figmentofmyass

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Quote from: The Sceptical Chymist on April 01, 2020, 03:08:05 PM

Whatever government is saying that might be correct, but that doesn't necessarily mean bitcoin is going to keep dropping. There was an obvious correlation between the outbreak and the slump (in the stock market as well), but I don't think it's going to be prolonged. In fact bitcoin seems to have stabilized around $6200 for the moment, and the way I see it the "crash" could have been much worse than it actually was.

People are selling all sorts of assets to free up cash, and that's all being done out of fear, but smart investors see times like these as good buying opportunities. And obviously some folks have indeed been buying bitcoin--if they weren't, I'm pretty sure the price would have dropped much lower.

bitcoin is still down much more than stocks. the dow jones is down 29% vs 40% in bitcoin.

i'm sure this is a buying opportunity but this is the age old problem of dip buying---where is the bottom? the stock markets lost 50-60% in the 2008 crash. it's possible we won't reach the "blood in the streets" stage for another 6+ months, which means current prices may not be a bargain at all.

Topic: Virus Bear Market? - page 5. (Read 1786 times)