Let's face it, Just like any other markets, People buy BTC to make some profits. So in bad times like this CoronaVirus Pandemic, People will Obviously try to sell off for a stable coin or fiat either to avoid encountering losses due to the expected drop of the market value of Bitcoin, or they are actually trying to cash out to be prepared for the worst outcomes of the pandemic.
What i am very sure of is that HODLers are very few.
If the situation stabilizes, i don't see the reason why the price shouldn't test those upper levels again
Topic: What do you think? - page 3. (Read 624 times)
The price did not collapse because of the classification of the virus as a pandemic, but a collapse occurred because of "unknown" felling about will happen after that classification, as panic prevailed on many citizens and started to withdraw their investments in the hope of buying some of the basics of life.
In short, the link between the two is not straightforward, but there are reasons associated with these two things that have caused price changes.
Thus linking that the interaction between them and the recovery of the market will not be correct.
Generally, no one can tell you anything, but Bitcoin remains the best asset for doubling the capital, whether investing or speculating.
Agree to this sentiment but you cant really stop people on not to think up this way specially on a very speculative type of market where any news no matter how simple or crucial it is, it would surely be correlated.In short, the link between the two is not straightforward, but there are reasons associated with these two things that have caused price changes.
Thus linking that the interaction between them and the recovery of the market will not be correct.
Generally, no one can tell you anything, but Bitcoin remains the best asset for doubling the capital, whether investing or speculating.
Im not saying that the pandemic doesnt have correlation but due to other factors which mainly affect investors mind on indeed cashing out their investments not only on crypto space but also on other traditional investments we've known.
Im not really keen on following up the price due to news because this market had always been unpredictable since from the start.We might connect some events but cant still be sure if it is indeed the precise reason
why this market dump that hard but now we are seeing recovery atm.
Because of panicking all over the market due to the virus and a fear of losing their lives, the price of bitcoin dump hard but fortunately we are able to rise again despite of this. There’s always a chance for bitcoin to get up and for sure after this virus the market will start to pump again and can enter into a new up trend right before the halving period.
Given how these two variables seem to be related, do you think the market will fully recover once the problem with regards to the emergence of Corona Virus is resolved? or there are other factors which may trigger an uprise or keep the market low-still?
I think BTCUSD will recover to February levels. There will probably be some more pullbacks on the way.
This is to some extent contingent on the pandemic outlook improving. If shutdowns continue for months and months, there will be serious economic fallout that will spill over into the BTC markets simply because BTC investors are part of the global economy. They are losing jobs, having their businesses shuttered, side incomes (like AirBNB rentals which are built on top of mortgages) are drying up.
Even I thought this virus will not have any affect on crypto market but eventually it did through the panic it spread across the world as most of us including myself had to withdraw our asset in order to stock up due to lock downs and curfews throughout the world for our safety but gradually things will change once he virus starts subsiding and once again I would like to remind you virus did not had a direct impact but it's the panic which has caused the chaos.
The price did not collapse because of the classification of the virus as a pandemic, but a collapse occurred because of "unknown" felling about will happen after that classification, as panic prevailed on many citizens and started to withdraw their investments in the hope of buying some of the basics of life.
In short, the link between the two is not straightforward, but there are reasons associated with these two things that have caused price changes.
Thus linking that the interaction between them and the recovery of the market will not be correct.
Generally, no one can tell you anything, but Bitcoin remains the best asset for doubling the capital, whether investing or speculating.
In short, the link between the two is not straightforward, but there are reasons associated with these two things that have caused price changes.
Thus linking that the interaction between them and the recovery of the market will not be correct.
Generally, no one can tell you anything, but Bitcoin remains the best asset for doubling the capital, whether investing or speculating.
Bitcoin's market value dropped under $4,000 which was from a market price of $9,000 on the same week before the crash happened. The digital currency had been trading near the $10,000 level in mid-February. The slide began later in the month alongside global markets reeling from the quickly spreading coronavirus.
At first I did not believe that there is a correlation between the market price of cryptos and the virus itself because the moment it caught the attention of the 'masses' there's nothing much of a movement in the market value of cryptos. But things have changed when the virus was classified as 'Pandemic' by World Health Organization,in March 11, as reported in CBC News. Consequently, the market price of cryptos fell in March 12
China to where this virus started, is showing signs of recovery or having a better condition compared on the previous month. As cited by 'Los Angeles times' , The number of newly diagnosed patients has dropped to around 25 a day, with no cases of community spread reported since Wednesday. As per CNN, on their article last March 19, the situations seem to be over because majority of the people have recovered, having a statistical data of 70,420 people (87%) of the cases have already recovered. While the market price started to increase a little.
Given how these two variables seem to be related, do you think the market will fully recover once the problem with regards to the emergence of Corona Virus is resolved? or there are other factors which may trigger an uprise or keep the market low-still?
At first I did not believe that there is a correlation between the market price of cryptos and the virus itself because the moment it caught the attention of the 'masses' there's nothing much of a movement in the market value of cryptos. But things have changed when the virus was classified as 'Pandemic' by World Health Organization,in March 11, as reported in CBC News. Consequently, the market price of cryptos fell in March 12
China to where this virus started, is showing signs of recovery or having a better condition compared on the previous month. As cited by 'Los Angeles times' , The number of newly diagnosed patients has dropped to around 25 a day, with no cases of community spread reported since Wednesday. As per CNN, on their article last March 19, the situations seem to be over because majority of the people have recovered, having a statistical data of 70,420 people (87%) of the cases have already recovered. While the market price started to increase a little.
Given how these two variables seem to be related, do you think the market will fully recover once the problem with regards to the emergence of Corona Virus is resolved? or there are other factors which may trigger an uprise or keep the market low-still?
Jump to: