What Exactly Caused The New Drop Of Crypto? - page 2.

prof7bit

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Quote from: jrrsparkles on March 19, 2020, 12:19:10 PM

Quote from: Becky666 on March 18, 2020, 03:04:51 PM

Quote from: jrrsparkles on March 18, 2020, 01:41:04 PM

We have to search for the reasons if the price drop occurred only on crypto market but everything is falling including gold so the reason for this fall is not too much hard to find.

Just because of Covid-19 aka Corona Virus.

Your are right but, the deep created by cryptocurrency cannot be compared to others like gold and metals from the general market. We have seen before SARS among others pandemic but never affected the cryptocurrency, gold and metals as we have seen few days ago. This made me believe that, there's more to this drastic and dynamic fall from cryptocurrency.

In my.opinion, panicked investors were responsible for the outbreak of the crash which lead to total downturn of the entire markets. The panic sales make this deep on cryptocurrency because of it volatility among other things. I "strongly believe in the effect of panic sales"

Exactly,corona is just a trigger for the fall.Oil prices and stock market historical losses made the investors to switch on their panic mindset and started to sell everything quickly to make lower buying opportunities.Today we are moving against the stock market prices movements so its really good to see people are turning towards crypto currencies to save their wealth.

I think everyone was surprised by the prices of gold and oil because this has not happened before. And I think that Bitcoin will still fall below $ 4,000. I won’t rush to buy Bitcoin yet. Wink

jrrsparkles

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Quote from: Becky666 on March 18, 2020, 03:04:51 PM

Quote from: jrrsparkles on March 18, 2020, 01:41:04 PM

We have to search for the reasons if the price drop occurred only on crypto market but everything is falling including gold so the reason for this fall is not too much hard to find.

Just because of Covid-19 aka Corona Virus.

Your are right but, the deep created by cryptocurrency cannot be compared to others like gold and metals from the general market. We have seen before SARS among others pandemic but never affected the cryptocurrency, gold and metals as we have seen few days ago. This made me believe that, there's more to this drastic and dynamic fall from cryptocurrency.

In my.opinion, panicked investors were responsible for the outbreak of the crash which lead to total downturn of the entire markets. The panic sales make this deep on cryptocurrency because of it volatility among other things. I "strongly believe in the effect of panic sales"

Exactly,corona is just a trigger for the fall.Oil prices and stock market historical losses made the investors to switch on their panic mindset and started to sell everything quickly to make lower buying opportunities.Today we are moving against the stock market prices movements so its really good to see people are turning towards crypto currencies to save their wealth.

ahyadinnn

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Quote from: CHENIEN on March 18, 2020, 07:16:58 PM

Quote from: TheICE007 on March 14, 2020, 05:18:26 AM

In case of you haven't been following the news recently, it's the same Coronavirus that also changed the turn out of events during the Chinese New year, it's still on, and it has caused panic in major sectors of the economy, the crypto community is just one of the few and that has led to price fall.

Actually, while the Coronavirus attack, the oil price war of Saudi Arabia and Russia has been started to explode at the same time, So it is obvious that not only a coronavirus is the reason of the new drop, the dispute of this both countries over oil prices is also the second reason for the collapse.

true, the decline in the price of altcoin is not only a result of the corona virus effect but from the current trade war, this is the same as last year the price dropped but after that the price began to improve again, and now the price returns to last year, so the current decline must be utilized with buy some altcoin

CHENIEN

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Quote from: TheICE007 on March 14, 2020, 05:18:26 AM

In case of you haven't been following the news recently, it's the same Coronavirus that also changed the turn out of events during the Chinese New year, it's still on, and it has caused panic in major sectors of the economy, the crypto community is just one of the few and that has led to price fall.

Actually, while the Coronavirus attack, the oil price war of Saudi Arabia and Russia has been started to explode at the same time, So it is obvious that not only a coronavirus is the reason of the new drop, the dispute of this both countries over oil prices is also the second reason for the collapse.

Kasabus

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Quote from: flagpara on March 18, 2020, 04:41:59 PM

Quote from: MOProgress on March 14, 2020, 12:34:46 AM

Just in few days now we have been experiencing unthinkable massive market drop, it seems something happened which I did not hear off. Please anyone here to tell me what exactly happened to the market?

Thanks.

We hear everything later when cryptocurrency plummet. Now only reason we are seeing Corona virus problem. India lifted banned from cryptocurrency exchange, India is very population country. Bitcoin halving time is also neear but our economy situation is very bad for Corona virus.

The price dump of crypto is a clear result of corona virus causing our global economy crisis. People have panic on how to prevent themselves not to be infected with this virus so majority of the people have sold their coins for fiat so they can prepare for the worst consequences that corona virus will cause.

flagpara

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Quote from: MOProgress on March 14, 2020, 12:34:46 AM

Just in few days now we have been experiencing unthinkable massive market drop, it seems something happened which I did not hear off. Please anyone here to tell me what exactly happened to the market?

Thanks.

We hear everything later when cryptocurrency plummet. Now only reason we are seeing Corona virus problem. India lifted banned from cryptocurrency exchange, India is very population country. Bitcoin halving time is also neear but our economy situation is very bad for Corona virus.

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Quote from: leowonderful on March 18, 2020, 04:16:02 PM

As most others have said, there's a number of different reasons for the drop but coronavirus just happened to be what set the ball rolling downwards, though one of the more unfortunate things about the whole situation was that it occurred right as Bitcoin was rising towards $10k and $11k again. People got fearful of their investments and/or needed to use some of their invested funds, so people started exiting the markets and things snowballed into a large dump as fear started driving market activity and still is driving market activity.

The great amount of fear that likely led to this rapid decline makes me personally want to invest heavily into crypto again, but I'm still continuing to dollar cost average as normal as to not catch a falling knife. We've sunk a ton but I believe there's still a possibility that we could go lower still if the situation worsens.

One of the greatest things that can bring that a market faster than light is Fear. People panicked just when the heard that the Coronavirus outbreak was going mega in Italy. I mean, It was literally rocking Italy and around the same time, Trump made a public announcement that wasn't encouraging. That's the logical reason for the dump.

Whether this is the last drop is still unknown at moment as the number of death persons have increased by over 100% since last week.

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As most others have said, there's a number of different reasons for the drop but coronavirus just happened to be what set the ball rolling downwards, though one of the more unfortunate things about the whole situation was that it occurred right as Bitcoin was rising towards $10k and $11k again. People got fearful of their investments and/or needed to use some of their invested funds, so people started exiting the markets and things snowballed into a large dump as fear started driving market activity and still is driving market activity.

The great amount of fear that likely led to this rapid decline makes me personally want to invest heavily into crypto again, but I'm still continuing to dollar cost average as normal as to not catch a falling knife. We've sunk a ton but I believe there's still a possibility that we could go lower still if the situation worsens.

Slingshot

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I feel is the current virus situation in the country. The virus affected both stock market so it's a serious issue. Many people at if fear sold off tokens and less traders I feel so. But once there is solution to this virus everything should bounce back. J trust Crypto and I am sure things will certainly normalise soon.

Becky666

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Quote from: jrrsparkles on March 18, 2020, 01:41:04 PM

We have to search for the reasons if the price drop occurred only on crypto market but everything is falling including gold so the reason for this fall is not too much hard to find.

Just because of Covid-19 aka Corona Virus.

Your are right but, the deep created by cryptocurrency cannot be compared to others like gold and metals from the general market. We have seen before SARS among others pandemic but never affected the cryptocurrency, gold and metals as we have seen few days ago. This made me believe that, there's more to this drastic and dynamic fall from cryptocurrency.

In my.opinion, panicked investors were responsible for the outbreak of the crash which lead to total downturn of the entire markets. The panic sales make this deep on cryptocurrency because of it volatility among other things. I "strongly believe in the effect of panic sales"

pacman7331

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Quote from: TheICE007 on March 18, 2020, 01:13:01 PM

The panic in the world has not just affected crypto but other financial market. This panic is caused by the Corona virus,ever since the start of this virus ,so much panic, this did not leave the crypto world out,so many are dumping just to get out or converting to stable coin to wait and see the turn out of event,all that have contributed to bringing down the price of bitcoin,and altcoins are not left out.

Right, at first, Coronavirus did not affect on the crypto market, rather price was increasing gradually. But suddenly the market crashed badly because Coronavirus is affecting in every country, so no one can't hold,/trade crypto instead of buying products to save for the future! You said the truth, most of the people are converted their crypto into USDT to avoid the market dump!

jrrsparkles

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We have to search for the reasons if the price drop occurred only on crypto market but everything is falling including gold so the reason for this fall is not too much hard to find.

Just because of Covid-19 aka Corona Virus.

pacman7331

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There is no reason except the coronavirus! Just saw the news that Italy has new 250 deaths in a single day, and total death count 2900+, US stock market declined by 9%! So can you imagine what's going on! WHO already announced Coronavirus is an epidemic! So, crypto has Corona effect too, people are selling their coins heavily to buy food and stick on home! So, we are not going to see an uptrend very soon!

Becky666

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What I saw that dropped the downturn in the price of cryptocurrency is the amid coronavirus which was said to be a pandemic, thus has been in the mind of individuals who holds some proportion of cryptocurrency most especially the Bitcoin. Those who holds these cryptocurrency were panicked and later embarked in a large scale sell off from their weak hands. This actually made the cryptocurrency market dropped down beyond imaginations as this type of dropped happened in 2013, when the price of Bitcoin dropped 50%. The only thing the community would have do to Savage this situation would have be never panic sell your portfolios.

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The panic in the world has not just affected crypto but other financial market. This panic is caused by the Corona virus,ever since the start of this virus ,so much panic, this did not leave the crypto world out,so many are dumping just to get out or converting to stable coin to wait and see the turn out of event,all that have contributed to bringing down the price of bitcoin,and altcoins are not left out.

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Quote from: mirakal on March 18, 2020, 04:17:56 AM

Quote from: oscarftw on March 17, 2020, 06:58:54 PM

Quote from: MOProgress on March 14, 2020, 12:34:46 AM

Just in few days now we have been experiencing unthinkable massive market drop, it seems something happened which I did not hear off. Please anyone here to tell me what exactly happened to the market?

Thanks.

Even when our ecosystem was crash what can do cryptocurrency in the time of virus. Investors just worried about their money so they wanted to be protected money. Without coronavirus all news is good about cryptocurrency. All coin price is going down but price is increasing of our needed product.

That is because there is a demand on our needs but I am not seeing it yet now, at least at this moment the government were still able to control the situation, what we are seeing for now is just a panic, people are overreacting and the measures as well so this results to our economy down at the moment.

However, I am pretty sure there's still demand on crypto, people should not be scared, it will not die as they are thinking, it's set to recover as soon as the vaccine is discovered, what we are gonna see next, is hopefully a panic buying.

The vaccine))) again this vaccine, why isn’t anyone so intensely looking for a cancer vaccine? And by the way, people die from it, too. All this is nonsense and manipulation. Since all the screams about this virus are so loud, it means that someone really needs it. And most importantly, the louder they shout - the closer the bottom))

neokripto

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What happened in the existing capitalist system of management — crises happened. There are objective reasons - the coronavirus pandemic, the decline in oil production and consumption, the global recession; and subjective, man-made - the exit of the Russian Federation from the OPEC+ agreement, panic in the media. Bitcoin and other cryptocurrencies are derivatives of this system and are evaluated as risky assets, which it is customary to get rid of in difficult times.

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Quote from: MOProgress on March 14, 2020, 12:34:46 AM

Just in few days now we have been experiencing unthinkable massive market drop, it seems something happened which I did not hear off. Please anyone here to tell me what exactly happened to the market?

Thanks.

It all points to the virus spreading like wildfire across the world which is putting everything on standby; not only is the crypto market affected but every other businesses or markets both online and offline. People are finding it hard to contain their emotions, fears, sentiments etc which is then leading to further dump in various markets and as no cure is currently out it is only but fueling the whole situation. We can only pray a cure comes as fast as possible so that various markets, activities, conferences, etc can adjust, kick off and the world can as well return to normal.

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Quote from: oscarftw on March 17, 2020, 06:58:54 PM

Quote from: MOProgress on March 14, 2020, 12:34:46 AM

Just in few days now we have been experiencing unthinkable massive market drop, it seems something happened which I did not hear off. Please anyone here to tell me what exactly happened to the market?

Thanks.

Even when our ecosystem was crash what can do cryptocurrency in the time of virus. Investors just worried about their money so they wanted to be protected money. Without coronavirus all news is good about cryptocurrency. All coin price is going down but price is increasing of our needed product.

That is because there is a demand on our needs but I am not seeing it yet now, at least at this moment the government were still able to control the situation, what we are seeing for now is just a panic, people are overreacting and the measures as well so this results to our economy down at the moment.

However, I am pretty sure there's still demand on crypto, people should not be scared, it will not die as they are thinking, it's set to recover as soon as the vaccine is discovered, what we are gonna see next, is hopefully a panic buying.

oscarftw

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Quote from: MOProgress on March 14, 2020, 12:34:46 AM

Just in few days now we have been experiencing unthinkable massive market drop, it seems something happened which I did not hear off. Please anyone here to tell me what exactly happened to the market?

Thanks.

Even when our ecosystem was crash what can do cryptocurrency in the time of virus. Investors just worried about their money so they wanted to be protected money. Without coronavirus all news is good about cryptocurrency. All coin price is going down but price is increasing of our needed product.

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