You answer yourself to your own question in the same post.
Since this is not the first time such a situation occurs, those who are used to it know that there is not much to worry about, just wait until the storm is over. Besides, it's not as if Bitcoin is the only one sinking, in which case we might worry, but it's not.
After all, when you've seen Bitcoin going down from $20k to $3.5k it's not a situation like that that is going to scare you.
As usual, the weak hands are selling in the panic, while the others are buying...
@Lucius I think he confused USD and EUR
Topic: What to do due to the huge market collapse of the Bitcoin? - page 2. (Read 289 times)
It's highly unlikely for Corona Virus to affect bitcoin's price. Bitcoin is not limited by an geographical border so the way local industries have impacted due to Coronavirus, the same impact can't be seen on bitcoin.
It seems, the current drop is linked with a $120 million sell of from scam proceedings. Read below,
https://www.coindesk.com/bitcoins-sharp-price-drop-may-have-been-prompted-by-100m-scam-selloff
It makes more sense than Coronavirus news!
It seems, the current drop is linked with a $120 million sell of from scam proceedings. Read below,
https://www.coindesk.com/bitcoins-sharp-price-drop-may-have-been-prompted-by-100m-scam-selloff
It makes more sense than Coronavirus news!
Where you see $6000? The lowest price is around $7700 which is still not lowest price in this year ($7174 January 1, 2020). When you talk about this kind of things, you need to pay attention to details, because it's about easily verifiable things.
I think you are new in crypto, just last December price was very close to your $6000, but then there is no Covid-19 pandemic, or some other bad news. Bitcoin is part of global financial market, and if everything sinks (as is the case now), Bitcoin is no exception, as some might think.
In times like this people who have money invest, because it is only a matter of time before the market will recover and when one's loss will turn into one's earnings.
I think you are new in crypto, just last December price was very close to your $6000, but then there is no Covid-19 pandemic, or some other bad news. Bitcoin is part of global financial market, and if everything sinks (as is the case now), Bitcoin is no exception, as some might think.
In times like this people who have money invest, because it is only a matter of time before the market will recover and when one's loss will turn into one's earnings.
Corona virus had a great impact in the crypto market. Even,few days back the market price of bitcoin was more than 10000$ but recently it crashed down to 6000$. Bitcoin market had a fresh start in this year as the market price of all the crypto currencies was higher. But the recent bitcoin market collapse is the lowest market price in this year. Even when the talks of World War 3 and other country problems started,there was no problem in the crypto market.
For now,it would be better for the traders to hold their crypto and wait for the price to increase to avoid loss.I hope this problem will be recovered soon.
For now,it would be better for the traders to hold their crypto and wait for the price to increase to avoid loss.I hope this problem will be recovered soon.
Jump to: