What Exactly Caused The New Drop Of Crypto? - page 3.

CaVO32

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Quote from: imstillthebest on March 17, 2020, 09:00:05 AM

Quote from: thiscomm on March 17, 2020, 08:51:32 AM

I think it happened due to the decline in transactions that took place on the market due to the loss of crypto users who were afraid of the coming of Corona virus.

transactions supposed to be inclined because people are panicking ( buying and selling ) but mostly selling . also people are entering because they see the dump as a great oppurtunity to invest more .

Quote

here if we expect that the 2020 bull market then we need to provide support to crypto users to come back even though this virus is disturbing our performance here.

that is hard to do because people are more foccusing on the virus than on ways on how to promote a crypto or on how to create a bull run .

the drop of the price finally stop and hopefully the price recovers now because the state of the convid are now also getting better . more patients are said to recover now . this is good news to us

aside from that, the human trial for human vaccine is already ongoing. so hopefully, we will see it released commercially very soon to prevent further increase of infected people. but since, we don't know when it will be rolling, people are still in panic mode, panic selling of their crypto and panic buying of their necessities.

and since most businesses are shutdown, sports events that are being cancelled, conferences, concerts and other gatherings that are being cancelled, it means a lot of businesses are in loss these days. so many crypto holders are selling their portfolio to augment their cash in case they need it.

Ashong Salonga

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Quote from: MOProgress on March 14, 2020, 01:34:46 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.

Many people says that this drop down in terms of price of all the cryptocurrencies in the market is due to the current situation of public health that is affecting the whole world which is the Novel Coronavirus 2019 that is already a pandemic virus which maybe the reason why we are all experiencing this downfall in the market. It is said that the threat on the public health is the main reason why people are getting into panic using their money to buy necessities to be able to keep themselves safe and survive this scenario. Maybe people tend to focus more into securing their health care these days than getting into cryptocurrency that is why the price is falling due to low volume of demand.

lobo13hf

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Quote from: dainoran on March 15, 2020, 07:56:32 AM

t looks like the market is experiencing a panic of selling, maybe this is caused by the Corona virus which is growing very fast, or this could be a strategy for traders to get big profits one day.

This panic selling caused by people are thinking if their live is much better rather than money. They have already started to rush the market and that's creating a big panic sell and look at the bitcoin transaction history and there were so many wallets with thousand of bitcoins have been sending their bitcoin to the market to make it even worst caused by they were trying to take the safe position.

imstillthebest

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Quote from: thiscomm on March 17, 2020, 08:51:32 AM

I think it happened due to the decline in transactions that took place on the market due to the loss of crypto users who were afraid of the coming of Corona virus.

transactions supposed to be inclined because people are panicking ( buying and selling ) but mostly selling . also people are entering because they see the dump as a great oppurtunity to invest more .

Quote

here if we expect that the 2020 bull market then we need to provide support to crypto users to come back even though this virus is disturbing our performance here.

that is hard to do because people are more foccusing on the virus than on ways on how to promote a crypto or on how to create a bull run .

the drop of the price finally stop and hopefully the price recovers now because the state of the convid are now also getting better . more patients are said to recover now . this is good news to us

thiscomm

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I think it happened due to the decline in transactions that took place on the market due to the loss of crypto users who were afraid of the coming of Corona virus. the number of transactions continues to decline every day and that has happened since the viral corona virus that is troubling the world. here if we expect that the 2020 bull market then we need to provide support to crypto users to come back even though this virus is disturbing our performance here. because our work here does not need to meet directly with other users so it is safe to prevent the spread of viruses.

Kelvinid

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Quote from: MOProgress on March 14, 2020, 01:34:46 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.

If you are aware of the global market issue, you probably can find out what it brings the situation into like we have today.
Pandemic COVID-19, health issues...this all you've heard around in television and in the newspaper. I am deeply down seeing the price turning down again early March. Nobody had to expect this, we all get shocked as we think that crypto could be safe from this and also the upcoming halving. But the trend had changed and have no choice but to accept.

Latviand

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Quote from: Kunnu on March 14, 2020, 03:43:51 AM

Possibly there can be only one major reason the false and unnecessary news which created to much panic between cryptocurrency traders that's why the market crashed very fast it was really an unfortunate moment, but now it looks that market is recovering slowly hopefully the market situation will be positive soon.

Some people are saying that the decline in the cryptos market value has relation with the widespread of the corona virus. It somewhat has a point; the virus is now negatively affecting the economy of many countries, some establishments are forced to be closed and activities are restricted. I do not really know how it exactly affects the prices of the cryptoa but, all i know is that the economic situation reflects to the prices of cryptos as we have seen before. So maybe, once things are showing signs of positivity, same thing could happen in this industry as well as to the market value of cryptos.

Quote from: Destroyeroff98 on March 15, 2020, 08:57:29 AM

Quote from: MOProgress on March 14, 2020, 01:34:46 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 seems to me that coronavirus has affected. Because because of him there is a global crisis.

Well at first, many people believed that corona virus do not affect the market price of cryptos. But the moment situation regarding to the said virus became worse, being a problem to many countries across the globe, there was a sudden decline in the market price of cryptos. In bitcoin, I think it fell down as much as 46% as what I have seen in Coinmarketcap. Hoping for better things to come because it really is sad seeing how the market struggle to make a comeback.

Ziskinberg

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Quote from: bitgolden on March 16, 2020, 11:48:32 AM

It isn't corona that is doing this, it is the people who got afraid.

People would not panic if they are not lock down, the government are very strict with their ways in preventing the virus to spread.
They lock down cities, order people to stay at home if possible, therefore there is no way they can do commerce here.

The main source of income is the buying people, whether its a product or service, so when people are not buying anymore because they prioritize their needs over their wants, that's why the economy will fall.

bitgolden

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I could say potentially corona is still relevant but the panic that is caused by corona is the real deal. People think that corona could do anything by itself, I am sorry but it is a disease and only thing corona could do is kill people. You can die from corona but you can't bankrupt because of corona, not unless your government is bad like USA and you are forced to pay tens of thousands of dollars to recover from it. So what has caused new drop of crypto?

It is the panic people have that caused the sudden inflation of prices in many products, the sudden drop of stock markets, the sudden lay offs in many companies, sudden bankruptcy of some places and of course sudden drop of crypto prices as well. It isn't corona that is doing this, it is the people who got afraid.

TWW

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Quote from: Destroyeroff98 on March 15, 2020, 08:57:29 AM

Quote from: MOProgress on March 14, 2020, 01:34:46 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 seems to me that coronavirus has affected. Because because of him there is a global crisis.

It looks very big in the world. especially for countries that depend on the export needs of other countries to meet the needs of their countries. of course with the cessation of the export of these goods imports will cause economic chaos that occurs. I hope this is finished soon and resolved.

Destroyeroff98

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Quote from: MOProgress on March 14, 2020, 01:34:46 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 seems to me that coronavirus has affected. Because because of him there is a global crisis.

mdzahed134

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Quote from: qtronix on March 14, 2020, 07:01:12 PM

The coronavirus has affected many aspects of life, including markets. not only the cryptocurrency market is suffering, but also the stock markets. But it won't last forever. Soon everything will be back to normal.

That's correct corona virus massively affected all of the sectors. But just one day this collapsed can't expected. Stock exchange is big down it’s many days ago because china and newly other some countries is out of connect each others. Just for corona issue market is big dump it’s difficult to believe that. People’s withdrawn their all assets, the condition isn’t going such too much bad right now.

Vishnu.Reang

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From what I have heard, the PlusToken scammers started dumping their coins (mostly ETH, BTC, TRX and XRP) about two weeks ago, when they moved $120 million worth of crypto to various exchanges. This caused a 20% drop in the cryptocurrency prices in one day. And in the succeeding days, these people dumped even more of their loot, which ultimately caused a meltdown in the cryptocurrency market.

Contrary to what people have been claiming here, the COVID 19 epidemic has hardly anything to do with this current bearish phase.

cytpoway121

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Quote from: MOProgress on March 14, 2020, 01:34:46 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.

I wouldn't say anything has happened to the market, its a general world situation and i believe only those who ignore the rumours fell victim to the news.

The crypto sphere experienced what the world trade and stock market experienced and bitcoin went further down because we all panicked into desperate need for fiat in order to protect one another from the covid-19.

Truth remains that this situation is not news nor new and it will evolve positively with time.

dainoran

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t looks like the market is experiencing a panic of selling, maybe this is caused by the Corona virus which is growing very fast, or this could be a strategy for traders to get big profits one day.

Nisterse

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Nothing happened. Its just that the cryptocurrency market is so volatile the it dumps so hard. Well in Oil and stocks has been the first ones to dump recently but I dont know for sure if this is related.

Magkirap

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Quote from: tiang_tower on March 15, 2020, 05:32:30 AM

Quote from: trauchot on March 15, 2020, 05:23:34 AM

I am sure that the main reason for the fall of the cryptocurrency market is the corona virus, because the corona virus has now affected and affects everything completely and the cryptocurrency market is not protected from this, therefore the cryptocurrency market has fallen so quickly.

It's not a matter of the market that is not protected from the corona virus, but because of the corona virus people are afraid to store their assets in crypto and some investors also withdraw their assets from crypto, so that is what makes the cryptocurrency market collapse that we have seen at the time this.

I do think that people and investors might have withdraw their money from cryptocurrency because they needed it more now in this kind of situation where we need some supplies in our houses but of course it might also because of the whales who are getting ready for the halving but i am more of the first reason.

Lordhermes

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In the cryptosphere, many repulsive news had affected markets badly, one may say corona virus was manipulated by whales to full investors to sell their assets and then they would buy back again after a huge drop down or when coin loose value.

But in as a much as blockchain and cryptocurrency is gaining adoption in the society locally and globally, markets will surely comeback so it's just a matter of time. I would advice investors to buy more coins now than ever, this incidence is an opportunity to increase investor's portfolio.

tiang_tower

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Quote from: trauchot on March 15, 2020, 05:23:34 AM

I am sure that the main reason for the fall of the cryptocurrency market is the corona virus, because the corona virus has now affected and affects everything completely and the cryptocurrency market is not protected from this, therefore the cryptocurrency market has fallen so quickly.

It's not a matter of the market that is not protected from the corona virus, but because of the corona virus people are afraid to store their assets in crypto and some investors also withdraw their assets from crypto, so that is what makes the cryptocurrency market collapse that we have seen at the time this.

xvids

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I am not so sure but I think the panic cause by corona virus could also be the reason since it is spreading so fast and also the lock down on some places.
People would need some money to buy what they need to survive while being lock down on their house.

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