Topic: What do you think? (Read 633 times)

I do not believe it will be a year away, widely available could be a year away but available will not be a year away. There are literally thousands of scientists who are working on solving this right now, this is not cancer nor aids, this has some sort of result and we will have a medicine for this, there is already talks about combining two drugs together does help people, not a 100% solution just yet but it does help, means if the scientists of the world get together they can combine those two drugs together and make one drug that cures this disease.

I am not saying it will be very quickly but I see it 4-6 months away instead of 1 year. By the end of this summer we should have some sort of drug that helps people, and before 2021 this disease will be something simple you can beat with a drug.

a widely available vaccine is probably at least a year away, probably longer. that's why the quarantines and shutdowns are so severe, because there is no safe path to herd immunity in the short term.

there are several antiviral drugs that could help to treat the infection. those can be approved and distributed much faster than a vaccine. remdesivir, chloroquine, and favilavir seem to be showing promise: https://www.clinicaltrialsarena.com/analysis/coronavirus-mers-cov-drugs/

Soon enough the bitcoin will rise to $7000 again, actually we already reach $7100 but price just fall back again, but I am positive price will start rising soon.

Demand will always increase because crypto is good, but we can't eliminate the manipulators of the market which are the reason why there are big pumps and dumps and thus it makes the market unstable.

When do you guys really think that a cure will be available? That might change too many things going around. I understand that french found the "cure" but they are still doing basically a test right now, sure it is looking like its working and sure it is probably a solve to this and maybe they can find one drug to combine them both and make it a corona killing drug but that may take some time.

Think this way: all the non-urgent drugs, they go through hoops of many many stuff and eventually they all get accepted in months of work probably years of work, so when we are talking about this one, it may get accepted a lot quicker but it may also still take at least a month before it is available all around the world. I think the earliest 100% treatment would be probably by June.

Yeah, the continuous increase of virus infection means a lot and baldy affect the market health not only for crypto but also for the global market.
We don't want the market to suffer like this but it can't and more crypto holders are now selling their coins for the sake that to save their lives. We can, therefore, expect a drop but not actually a case that we can't stand back and no way to recover.

The market price still at strong from $6.2k to $6.8k, is working against the falling market. I believe there is a chance for the market to rise and the demand will increase because might people will think about its uses and use it either as the situation continues.

I also believe there is no such thing as connection to the two.
But when you see the whole world economy falling then there might be some.
Bitcoin is not part of the world, there is no denying that since it also reacts to what is happening into it specially in the financial industry.

There will always be a time where it will pick up its broken pieces.
What we need to worry by now is survive this pandemic. Somewhere in the future bitcoin will be back and maybe stronger.

Of course! Not all the times we do see a dumping of price or in a continuous manner and if it do reach up a certain support it would eventually recover but all things vary on market makers.

If price should really be stopped there or would continue to dump.I dont really believe that only who do panic do able to sell-off their holdings even hodlers do surely sell off a bit of their
coins.

Me also didnt expect that Corona virus did put much affect not only on crypto market but also on other traditional markets as well.

From the start, I also thought that Covid 19 has nothing to do with it but after seeing every market is crashing and the cause is uncertainty people are in a hurry to liquidate, but once they see a glitter of hope the market quickly recovers, and the momentum will still grow up in the coming weeks or months and after the halving, we'll see a dramatic change.

I feel the price of bitcoin dipping is as  a result of panic from investors who believe the pandemic will affect it. It's in people's nature to panic for no reason. The panic buying of tissue paper is a good example 

Moreover, the price of Bitcoin is not the only 'product' or investment that went on a slump since the virus started. Some businesses have noticed an improvement, while for others, it is the opposite. There are also changes in the stock market; some stock investors notice an increase while it the opposite for some.

This time, we see a strong movement from bitcoin. The price can jump through the higher price, and the bitcoin price already breaks $6,7-- but we are now seeing bitcoin price reach $6,500 - $6,600 price level so the chance for bitcoin price to break $7,000 will be still wide open. We can hope that this month can bring new hope to us and bitcoin price rise again. We still need to watch out of the market because the price can move to anywhere, so we need to be ready for that.

As what others telling; Coronavirus (covid19) is extremely affected the price of Bitcoin, well, there are some possibilities it's true or Bitcoin is just being a Bitcoin (extremely volatile).
We should also always look for a long term here, we are in Bitcoin and we all know that we are still in the early age of this.
Falling prices on Bitcoin these days is kinda normal, but if you will don't mind it and continue to hold, no panic, avoid watching charts every time, you are safe.

Bitcoin is going strong and that is good and despite of the current situation, I don't think it will be able to stop bitcoin.
It's been proven that bitcoin is not correlated with stocks or anything, it has its own movement and most of the time it move opposite on what we are expecting, the problem we are facing now is very serious, stocks are falling while bitcoin is still start and slowly recovering.

This article is very interesting on how bitcoin beat Dow and S&P 500 in the first quarter

https://www.cnbc.com/2020/04/01/bitcoin-beats-dow-sp-500-stock-indices-in-first-quarter-2020.html

Bitcoin is moving in the right direction, but the major problem with the current situation of the world, every day we see more infected people which makes the affected people are increasing and this makes how long this lockdown will continue. As of now, Bitcoin is strong at the current value, but whether it will continue at the current price we have to wait and see.

Everyone thinks that corona will be "gone", it is not something that goes away, this is a virus and as long as there is at least 1 person who is infected in the world, there will be corona going on, and believe me there will be people with corona all around the world at all times forever from now on, it will never go away. Look at ebola, look at swine flu, look at others they are all still around, most noticeable we still have influenza, after ALL these years, why? Because, it never fully goes away.

We will just learn to live with it, it will not be as harsh as this and we will have cures and treatments for it basically it will be a hard flu and you will recover instead of thousands of people dying every single day, but we will still have corona that just kills a lot less people.

Are you telling me the bubble popped in December 2017 and you waited until now to start selling?


Given the short term (daily and 4-hour) downward momentum, I think it's likely we can buy in the $5,000s and possibly $4,000s. We are currently at the upper end of a newly defined range.

I too, didn't believed at that there is a correlation between the two varible: the virus and the standing of Bitcoin but, as the virus spreads even more and has affected a lot of countries, the price of Bitcoin dips to $3,500. As the Bitcoin market gradually increases in its price, we could totally say that the infected countries are now recovering from the effects of the pandemic, and if this continues, we could expect a massive pump in the price of the coin because of the halving event + the impending demands from the people who are now in quarantine.

This chart is really true, we saw bear movements here. After the $10,000 was rejected and fall it below $8,000, I have become a bear on that level and this recent case of coronavirus (covid19), Bitcoin really did a bloody move falling below $4,000 in just span of 24 hours which is also good to recover and bounced back now on $6,000 levels.
For me, as we don't break the trendline above, Bitcoin will continue to suffer these coming days.

This is a good strategy however not in a bear market like we are right now. You should of been doing this inverted DCA selling when we were hitting new highs at the beginning of the year or in the middle of 2019. Selling little by little right now is better than selling everything at once because it could go down further however the price is pretty low right now compared to how we were easily over $10K a few times in the last year.

I keep telling people that it doesn't hurt to take profit. I remember in February there was a 6% June futures premium and I think it hit like $11.5K at once point and would of been a very good price to sell, selling right now doesn't make sense. You might as well wait and see what happens during halving. Right now is a time to buy if anything.

Cure and treatment are totally two different things that people need to understand at this point. When you give people these medicine they are not suddenly cured, it is not suddenly all sunshine and rainbows for them, but does it make them better? It definitely does.

What we normally had before all of this was keep the people who got corona alive as long as possible until their body could counter a measure for the virus and fight it back, if you have a virus long enough your body adjusts to it and fights it off and you get better, some old people doesn't have that much of a good immunity so they can't survive long enough and they end up dying, those are the people who die right now.

If we get a "treatment" even if it is not a cure, we could save "some" of those people, not all but some could survive longer enough to get their immune system up and running.

I'm going for a inverted DCA strategy, where I will sell fractions of bitcoin each month.
I think its the best way to get out. If you sell all of a sudden, and the government decides the COVID-19 drill is over, the price will certainly go up, and you will lose profits (or the opportunity to mitigate losses). A inverted DCA is as good for a bear market as a standard DCA is for a bull market.

It definitely isn't a cure but it might be an effective treatment. Although detractors have all but written it off, there are some early signs the hydroxychloroquine/azithromycin combo may be effective.

Doctors in Bahrain are administering it to patients. The government says it was effective in "alleviating the symptoms of the virus and reducing its complications." https://www.al-monitor.com/pulse/originals/2020/03/bahrain-claim-success-anti-malarial-drug-coronavirus.html#ixzz6I47tr8BO

A small French study found that "hydroxychloroquine treatment is significantly associated with viral load reduction/disappearance in COVID-19 patients and its effect is reinforced by azithromycin." https://www.sciencedirect.com/science/article/pii/S0924857920300996

South Korean doctors also found "some success" administering hydroxychloroquine to COVID-19 patients. https://www.local10.com/news/local/2020/03/28/desantis-shipments-of-drug-hydroxychloroquine-to-help-covid-19-on-way-to-florida/

We will adjust to it when there is a vaccine available. That way if there is an outbreak instead of isolating the entire planet, people will just take the vaccine and go to work. The reason why people don't go to work is because there is non available. And most people are just waiting for a vaccine.

Why risk going outside, getting infected and dying 2 weeks later. Not worth it. If there was a vaccine then it would of been different. Maybe that drug combo that Trump suggested will work as a way to cure the virus against the ones infected however there is no proof it works yet even.

I am currently bullish on bitcoin and hoping the market recover soon. We don't have any reason why bitcoin should fall and going below $4000 is out of the equation. Bitcoin might get better before the halving if the covid19 pandemic is reduced to controllable major.

I doubt that corona will be "resolved" all that easily, humanity will just adjust to it and starts living with it, you think swine flu or bird flu or influenza or whatever else just gone away totally? They no longer exists? They are still around, they still kill many people as well, we just started to learn how to live with it and it doesn't kill as much as it used to because we have medicine against them.

So, what will happen is we will find a cure, we will fix many of the sick, there won't be many that are sick and out there anymore, anyone who gets it will go to doctors and get better, and that way people would be allowed to go outside because even if you get infected you will be cured so there is no problem anymore. That is not something we do overnight.

I don’t believe that you dod not thought that Corona Virus will not effect Crypto market because since December the news spreads out the media and thousands are dying in China.
In this implication it is impossible that this will not effect the crypto market though not this Bad because the panic grows wild that fast and many of us did not expected.
But lets be truthful here because this problem will stays to us longer than what we are thinking now.

If we are going with the argument that the market crash because of the Covid-19 scare, then definitely, for bitcoin to recover, the global pandemic should be resolved at once.

However, it seems that the whole global market is collapsing, and only bitcoin have bounce back more than ~50% from the flash crashed. There could be other trigger for an uprise, specially that bitcoin block halving is just around the corner.

Possibly. Just that I doubt this pandemic is going to end in just a few months. Yes, the vaccine is currently in its first stages of testing, but that requires time as well to see if results could actually be satisfactory. Not to mention that the vaccine itself is safe for human intake and the like, and that would take another round of testing. If anything comes up or pops up in between, the market price of crypto may fall more than we've ever thought. Though it has seen some good days recently, it still hasn't been able to break out of the $7k and is only playing around below that. If, let's say, the leading personnel for the plus token scam comes out, they could potentially cause another market crash.

Panic wouldn't leave the market, at least for now. Not until a vaccine is made, one that can be publicly released and one that anyone can pretty much have access to. You'd probably see a huge surge upwards once a vaccine comes out.

And also I am seeing Illuminati conspiracy theory related to stock market crash and one world one currency so people think this is the time for bitcoin so they are moving into it.This maybe just a conspiracy theory but already helping the market to recover from the losses.Hope it will continue.

Then, it is to hope that this recovery momentum will continue and people might not think about selling their Bitcoin at a cheap price.
Coronavirus have still in the spread and a lot of people get infected and hopefully, it won't really matter a lot in crypto. FUDS and panic selling is over (IMO) as we saw the market bouncing back again.

Halving has to come closer but I feel that we aren't able to see the market be in the bullish if this pandemic health issue won't slow down. I have nothing to expect more this time.

Panic regarding the pandemic created opportunities for buying crypto currencies at cheaper price. Still there is no good news regarding the corona virus still market seems recovering so people caught crypto as an alternative to make up for losses they have made in the stock market crash.

There will definitely be an increase when corona goes away, there is absolutely nothing that keeps bitcoin low right now, it has been said that bitcoin has no instinct value but it is loved by people like crazy so I can understand why people would still value it so high but right now the only thing that is keeping it low is the fear people have towards corona and that's it.

Many people were considering this a doomsday scenario and everyone SHOULD stay at home but it is not really all that horrible, we are not going to have 100k+ death toll when this is over.

Corona will never really "end" all that much but when there is a cure that fixes people in less than a week, it will become like a common flu, that kills people as well but it is not really not scary anymore is it? When corona becomes like that, markets will go up once again.

I believe that at the moment the pandemic is happening bitcoin will experience a good increase in the next few weeks because I see the movement of the chart is very strong at the moment its fundamentals and will not drop below $ 5000.
I am not good at TA but as time goes by bitcoin always moves quickly when yesterday to the worst try bangkin but now it can only afford $ 6500 + but after blocking halving maybe that's what we would expect for bitcoin.

Regrets those who sell their coins...
The trend is really tricky for every crypto holders and for sure, those weak hands will lose their interest pretty quick.

The market started to move back high again. Many were expecting that it drops more as panic sellers have to build up but it is good to see that we're not instead, we soar above $6k and heading for $7k (and hoping for more). Hopefully, the momentum will never change and so we gonna have at a good price during halving.

I have no doubt that the market will fully recover, in fact it's been recovering til now.
Bitcoin didn't drop below $4000, while bitcoin now is already trading at $6600 which I would say a good improvement already.

Let's not doubt on the situation, we've seen how strong bitcoin is as we survive although the economy is collapsing, and no chart or TA that would help us now, this isn't a normal situation so we can't use the chart to predict, what we have to do is just to believe.

Why are people so sure about this? How do you know Bitmex wasn't following spot exchanges down?

For prices to fall on spot exchanges, people need to sell real BTC, on spot exchanges. Long liquidations on Bitmex do not accomplish that, and we know zero withdrawals left Bitmex during the crash because they only process withdrawals during mornings US time.

Nobody knows it was Bitmex-tied algorithms that dumped all that supply. That's just a big unproven assumption. All we know is inflows to spot exchanges increased ~170K BTC more than usual in the days preceding the crash. Massive supply leads to lower price.

A lot of over-leveraged traders got destroyed on Bitmex, I'll agree with that. I am however not convinced Bitmex controls the spot market.

The corona might of caused the stock markets to crash which might of caused the price of BTC to go from $8000 to $6000, what happened afterwards was due to massive long liquidations on Bitmex.

Being the largest derivatives exchange and basically bitcoin hovering around $10000 back in Feb 2020, made people open up massive long positions due to the halving FOMO. And the problem with being long with BTC as collateral is that if BTC goes down, your collateral also goes down. So even if you were 1x long at $8000, you would of been liquidated anyways at $4000. And there were maybe >$1 billion of these liquidations, hence why it crashed down to $3500.

This is the issue with high leverage derivative markets on a thin orderbook.

that view seems kinda skewed.

major stocks indices fell ~35% and rebounded ~17%. yesterday was the biggest single day recovery since the 1930s. the stock market could very well be on its way to recovering half of what was lost.

bitcoin fell over 60% before rebounding ~80%. sure it bounced really hard, but the initial crash was much, much bloodier than stocks. bitcoin clearly has a much less liquid market. it gets pumped and dumped easily.

More like science law of gravity but somehow you can't tell where a factor will wake up from and hit the pyramid to obey such law. We have seen that this time was corona virus.
I hope halving help takes us back to the top again

I don't think the drop was caused by covid-19 per se.

I think it was mostly a result of the crash of the stock markets worldwide. As stock markets fell many sold off other assets, especially by those with margins who were in danger of being called.

The rest was mostly panic at Bitcoin's price drop itself. Gamblers/traders sold while long-term  investors held firm.

Sure enough, while the stock markets have made only modest recovery, Bitcoin has recovered more than half of what it lost in the panic.

I see a pyramid pattern. It rises to the top, and now it falls to the bottom. This is science. We need to trust science.

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

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.
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.

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.

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?