Bitcoin Forum

All over the world we can stocks near 12% down since the end of January,  when  Corona virus showed up.

Bitcoin was neat 10k, and we still didnt lose 9k.

Btc is doing extremely well. it is not skyrocketing like gold but we are holding strong.
I am impressed and we can see that bitcoin price is not correlated with stock market.

Corona virus appeared in December, it appeared internationally at the end of Jan but even before then there were probably carriers in sj and jn.

I don't know why bitcoin would be correlated with the markets. Wise investors probably set and forget and they probably have the highest stake at this time...

I think that by now it's clear that corona virus doesn't affect Bitcoin price. At first there were many theories aiming exactly at that direction, some even saying that corona virus was intentionaly released just to harn cryptocurrencies, which I don't think that has any reasonable explanation.
Maybe in the case that corona virus situation gets into some serious world crysis that would seriously affect global economy that might influence in.a way Bitcoin price too.

Going from 10k to 9k it a 10% loss, and it's actually similar to what the stocks are experiencing, because they are also in a big bull market, so maybe the virus just triggered and amplified a correction that could occur even without it.

This isn't to say you are wrong, in fact you are very much correct - there's no strong mechanism for this virus to hurt Bitcoin, so any perceived effects on price are just a coincidence or a short-term panic. Bitcoin's own market cycle and things like halvening are much more important for its price than real world events.

It is like a coincidence that the bitcoin price was starting to move upward and the outbreak (coronavirus) was also starting, the others are saying that the increase of bitcoin price is because of coronavirus outbreak in which I am not so sure if they are related to each other. We are doing good for almost 3 months in which most of the currencies have increase more than 30% but as we know that the market will not steadily increase, the market is now playing less than 9k$ for bitcoin.

Current bitcoin price is sitting at 8911 usd base in coinmarketcap price, we have successfully hit the barrier of 10k so the next target will be 12-15k before the market will start to go down again. Crypto market is very different with stock market because stock market can be predicted easily if you are very active on what is happening in our economy but in with crypto no one is professional enough to predict the market happenings 100% correct.

Many articles trying to link anything and the price, we may have a philosophical theory about the effect of things on the decisions of buying/selling, but even these changes will not make fundamental differences in price.
That is, the effect of corona will be limited to countries and individuals, not to entities that change supply/demand, and therefore there will be no real impact on price.
Once corona affects supply/demand (today, after 1 week, 1 month, 1 Year,) then it will have an effect on price. Comparing prices at the beginning and now will not give real results.

I still believe that the purpose of this virus is to weaken the economy of some countries more than it is a deadly epidemic.

At this point, Corona virus has not that much of an effevt towards cryptos but I doubt that it won't have if ever the problem would get worse, and hoping that it won't. I am not yet sure of whether the effect would be positive to the price or negative to the industry. Worst scenario is that, money would no.longer have a value and it would be a matter of survival. But that is just exaggerating the scenarios. The bottomline is that, at this moment, it do not affect the crypto industry and people should really stop making topics forcibly correlating these two variables.
The main reason I think why some people are correlating the market price of Bitcoin to corona virus is that, majority of the miners are residing in china. But little do they know that those miners could be on a less harmful area given that not all provinces in china are highly affected, which might avoid the negative influence of such virus to the cryptoindustry.

I think that this is yet another test of what science 🧬 can do with a virus 🦠.

This is close to what they want.

1) lots of people catch it fairly easily.
2) does not kill kids.
3) works to cull older and sicker people.

Pretty good to have in your bag 💼 of tricks if you want to do population control.

Stocks are more affected by the virus since their factories are much more likely to be influenced with the reduced production because of the possible temporary stops of the factories to prevent the spread of the virus. This makes sense, but Bitcoin being affected by the virus really seems unlikely.

The loss of BTC from $10k to $9k could just be a byproduct of the fears of the stock market as well as a possible correction from the rise of BTC in the past 2 months. We've seen it constantly going up from $7k after all, so a correction might have been necessary.

To think about this, we should uncover the reason why bitcoin is having its market price of what it has as of now. The result of that market price is simply the demand of the people towards it, and saying corona virus isn't affecting bitcoin's price, I think, my point of view about it is quite opposite. Why? Because with corona virus, people will tend to look at the best possible option of transacting and if they find bitcoin possess the characteristics they want, basically, demand for bitcoin will increase, so as its market price that is why I believe the current situation does really have an effect to bitcoin.

I think with the current situation with the price of a cryptocurrency and mainly Bitcoin, It has been affected in some way. Knowing that there is news about the use of paper bills has somehow changed the spreading of the coronavirus means that they could probably get more digital cash instead of the actual paper money.

Having that said, The use of paperless money is essential to lessen the spread of the virus. And maybe this is how the public is seeing it as well. If ever there is an effect, can you verify it? Verify it in such a way that it has been caused by the coronavirus?

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https://ph.news.yahoo.com/who-world-health-organisation-coronavirus-banknotes-warning-111019361.html

Bitcoin is very volatille without this virus too. We are going to 8k if nothing will trigger bull run

When cash money could be the way how corona virus effect I think many people will use bitcoin as payment transaction and become most effective way how to make bitcoin and altcoin back to track with higher price, but we need waiting for bitcoin on the top price.

TBH Corona VIrus or COVID do somehow help the Bitcoin and cryptocurrency world and its market, as physical bank notes do have a possibility to transmit and pass the virus around the world. And with it, there is a huge possibility that most would rather use online banking and online payment systems (or rather use cryptocurrency as a mode of their payment), as it lessens the risk of having the aforementioned disease.

This is a dark and sick idea or conspiracy but I cannot totally dismiss it because it can be true. A country with a large population and limited food sources can do population control and present it as a pandemic. But you have to be a totally heartless government to implement such.


Bank notes are known to transfer all kind of germs, viruses, and bacteria long before COVID-19, why would it have an effect now? IT is just a big propaganda.

Corona virus really does not affect bitcoin's price because it will only effect the economy of a country through productivity of mediines and the health of every people in a country, that is why it is not true that novel corona virus have help bitcoin to increase it's price.

The virus still affect the market because it is a lot of people are afraid about the virus spreading today and that is not a good thing it may affect their work and also the job some of the people today stay away from their places nearby the virus and some of them are going to migrate just to avoid the sickness. Also today one of the largest news created is the use of the cryptocurrency on south Korea because some of them are limiting the use of fiat currency or the physical money because the virus is airborne and it can attached to the objects we usually use and money is included so they will prefer to use the digital currency and also it is good if we are avoiding too much touching to our eyes, nose, and mouth so we cannot easily infect. We are looking towards making a good market income even there is a virus spreading but today it is not good because some of the stocks are falling down because of the event happening in the world.

Corona Virus actually affected local industries. A large number of factories have been closed down due to this new epidemic which directly affected the stock markets, especially in China! But bitcoin is not dependent on a single country or a region, It is truly global in all literal sense. So bitcoin was not affected by it. But I am still finding a way to explain today's price crash!


Is it something that you realized now?

Bitcoin price is depend on so many different factors. That's why it's hard to find a correlation between it and events in the world. So we see that COVID-19 outbreak didn't affect the price. It seems to me that stock market is more limpid for analysis.

There's actually not that much factors that affect Bitcoin, it's mostly just pure speculation, which is just unpredictable, and occasionally it does react to news, but only when they concern Bitcoin directly, like when some important country bans it or legalizes it. Yesterday the price was $9,000 and today it dipped all the way to $8,200 without any big news or reason - that's just how it is, Bitcoin was always volatile, and it's important to realize it and stop looking for sophisticated explanations.

There isn't much proof that external factors such as diseases like this could destroy nor build the bitcoin or crypto space but in simpler things like people trying to buy bitcoin in frighten to lose their paper value due to this might actually help. The core of cryptocurrency is a pure speculation so this already mean that there is no direct relation of anything outside the crypto space to it. It is quite interesting how the market is moving far from most of our expectation especially now that the most anticipated event on bitcoin is coming. Guess we should look more after with what is happening in the real world.

There's no signs at all that the coronavirus can trigger some sort of hyperinflation, we don't see any big drops in national currencies, and holding fiat is actually a good idea during a crisis, as long as the crisis isn't linked to hyperinflation, but then you can just hold foreign fiat. So overall there's really no fundamental reason to think that this epidemic is somehow good for Bitcoin.

I see the condition of the price of the place of exchange at this time the price of bitcoin and other cryptocurrency has decreased prices whether this includes the influence of the corona virus. I do not know much about it but from the spread of the corona virus all panic and the possibility of a bad can indeed trigger an economic crisis and will create critical financial conditions .

And then, there was morning...

https://i.imgur.com/wxFCJyy.png

Seems like you need to tune up the theory a bit!  ;D
Business losing money means people are losing money means less money to invest, less money to go to bitcoin and there we have it!
When we were at 100-300$ we needed a million to prop up the price, when you're at 10k, we need 18 million a day just to cover mined coins.

Corona Virus doesn't affect the Bitcoin's price. But the health of the people is. Maybe this time, we should focus on securing ourselves and our loved ones that know if it would affect the market or not.

I heard that people were saying that the Novel Corona Virus was intentionally released to hard cryptocurrencies but that really is a big no. Just because the price of the Bitcoin was not affected by the Corona Virus doesn't mean it is the interest of the cryptocurrency whales to harm the Bitcoin and release the virus. Coincidence happens daily. This one is a very simple coincidence. The Bitcoin's price went up because of the halving and not because of the NCOV. IMO

 what happened today proves my theory.
Do you read news right,? You know that there is a price war happening in the oil industry,  and this affecting the prices all over the globe.

This has nothing to do with corona virus.

I said corona didnt affect btc price (and it didnt). Few days later there is an oil crisis and btc falls. You cant blame corona for that

I could say that it could be the case but, as we could observe the price of Bitcoin continues to fall deep below the $8,000 value, I think it could be a danger especially when it continues to fall. But, we should not lose hope about the price of Bitcoin because, it is sure that as the price of Bitcoin falls, the chance for investors to buy and store it is high, that might be the reason for a bullish increase in price of Bitcoin. As the halving event comes close we should expect a change in the standing of Bitcoin mostly in a greater situation and become a high value asset as its price gradually decreases because of it.

You said in your second line:


So, what is it in the end?
It is correlated with the stock market or not? It's correlated to oil? How and why is bitcoin dropping because of oil?

Just because the market was slow to react (don't forget it was a weekend) you thought, hey, this is good for bitcoin, let's make a bullish topic!
Well, it wasn't, the bears are on a rampage!

Man. I don't understand where you want to go... almost everything you said is wrong.


Don't you read the news? There is a world crisis going on, which was not happening when I created the topic.

Not only the stock market is falling, everything is and bitcoin is no different this time.

What I said earlier is still correct.

And you are wrong. Bitcoin didnt react slowly to corona virus (as you said). It basically didn't have any reaction to corona virus.

And no, I didn't make a bullish topic. I said bitcoin was resilient to Corona it didnt fall. It still is.

Bitcoin price is falling for other reasons.

Take a look at the news about Russia, Saudi Arabia and oil prices then you come back here. ;)

Name one thing!


Exactly my point! You created your topic when everything was fine and you said that bitcoin doesn't care.
Which now, when everything is not fine at all has been proved to be a wrong assumption!


Exactly my point! So your quote below two days ago is WRONG!



Name one and show proof of why.
And why should be a decline in oil also a decline in BTC?
Oil crashed 30$ in January 2016, Bitcoin went up by 100$ which is 25%.

And I'm asking you again, can you please make up your mind?


So, which one is it, is it correlated or it is not correlated?

I think so that it's really affect the price of bitcoin and even in the stock market because the investors in the country of the affected by the corona virus are lost because they can't invest yet until their country or their families are already safe.

It's only my opinion.

I think bitmain put a lot of miners in western Europe a while ago with bitdeer. Not sure if they're still there or how that's going but I imagine they are...

They won't face too much of an issue if China faces a large problem and a lot of miners are probably pretty young so simple maintenance and updates can still be carried out if you're ill with the virus.

Actually there are some crypto enthusiastic saying that the coronavirus or that covid19 is currently affecting the market specially the bitcoin price but what i am trying to say is this is some incidents that d virus come from us and it is just the bitcoin dumping on the price is happening. I am not believing that the coronavirus or the covid19 is somehow affect the bitcoin price right now I am just seeing it as an coincidence which happen when the market is in a bad condition.

Indeed, there has no effects or changed in the value because of the virus at all, cryptocurrency's nature is its volatility, so whatever happens to the price of bitcoin it is not because of the virus, but it is because of the transaction happening all around the world. That is just a speculation because there is no proof that shows coronavirus has really had an impact on the price of any cryptocurrency. But there is maybe a good way to change the perspective, we can say that using crypto at a time like this when you are making any transaction is better because you are safe from the virus since you do not need any physical contact to the one who you transact with. The virus does not affect the price of any cryptocurrency but the fiat and economy have. 

like there is no real effect between corona and bitcoin. when China was paralyzed, bitcoin increased its price, and now when China began to improve, bitcoin threw away its price. indeed when viewed in terms of the global economy the corona case affects the economy of the entire world, because china is a world economic giant

Lol ok, let's go.



You are saying here that bitcoin is reacting to Corona virus now, as "bitcoin market was slow to react". This is absolutely wrong in every sense.
Don't you read the news? There is a price war going on between  Saudi Arabia and Russia, which started this weekend. There is absolutely no correlation between this price movement and corona virus.

1 - You are wrong to say bitcoin was slow to react.




2 - Wrong again.... Please show me where this is a bullish topic. Holding the price is a bullish movement now?


3 - there wasn't any bear in bitcoin price related to corona virus, which is what this topic is about




4 - wrong again.
it doesn't matter if only two days passed. I clearly can see you don't read the news and don't care much about traditional markets.

The situation changed entirely in 2 days.

There was a circuit breaker in NY, Brazil, and almost everywhere else. Do you know what this is?

I will explain to you, copy paste from wikipedia:

You want to ignore everything that is happening in the whole world and force your idea that bitcoin is crashing slowing due to Corona virus.

THe circuit breaker prevent all negotiations of all Stocks in wall street, not only those related to Oil Industry. Do you really how big this crisis is?
This has nothing to do with Corona.

lol. Name one reason??? Go read the news man.



World economy is based in Oil. There are tensions which may lead to war... there is instability everywhere. Ofc this can affect bitcoin price. The situation changed enterily



Bitcoin price is not enterily correlated. There were 2 crashed in the stock market. One smaller (corona) which didn't affect bitcoin, and one much bigger that you ignored , which affected the whole world economy. This situation may take years to solve and may lead even to war. This will ofc affect bitcoin and the stock market, among many other things.

Keep your" slow reaction Bitcoin Corona crisis" opinion and ignore Saudi Arabia x Russia drama (which is making the whole world crazy now, much more worried than the corona virus) and I will keep my idea that Bitcoin hold strong against corona virus.

Btw, I think bitcoin is perfoming extremely well in this world crisis. I don't agree that bears are on rampage. Bears are very shy now. Let's see how it goes... I expected a much worse bloodbath (Brazil Stock market is suffering much more than bitcoin)

yes I also think the corona virus has no effect or impact on the crypto market, because I don't see any drastic increase or decrease at the time the virus starts to become viral all over the world.


So you conclude this is an attempt to bring down a country or make some countries' finances go down, if the assumptions you say are true, isn't this too much to be a little harsh at the expense of human lives for certain interests  :'(

I do agree with you, but there are some factors which make the market has crashed hugely, Like Corona Virus, Crude Oil, worldwide is effected with the crude oil and even stock market also lose their huge amount of money.

I have read through your discussion. And I think like this. Is Bitcoin affected by corona virus? I think it is affected, but it is only to a small extent. The problem that I am thinking about is that the corona virus is a factor that causes people to become more out of control in developing the local or national economy of the virus itself. The news I read in the newspaper made me think that it was just an excuse to start a recession of the world economy, because the global economy actually had many problems beforehand. corona appears. And so is everyone's psychological problem, almost no one cares about it until someone near them is suspected of having a virus, with the current situation, we will still see the economy go down. clearer.

I have had fears that the coronavirus could affect the price of Bitcoin but as time goes by I have realized that it has no connection. Bitcoin continues to have the same behavior with its natural volatility. I have seen some optimistic comments that we may see a big surprise, a supposed increase in its price.

I do not agree that corona virus have no connection with bitcoin price. Corona virus has started to affect all over the the economy of most of the countries. If it continues, situation will be worst and it will also have an impact on bitcoin price. People looking for storing value may look into investing in BTC which will pupm the price. Or even if economy face more inflation, people will be looking for more cash to spend which also can affect the bitcoin price.

I am doubtful that the current market price drop is happening due to its volatility only. i see that it could be due to corona virus scare that is existing across the globe currently. Due to which quite a few investors or big players might have sold their positions and thinking that they would have a chance to buy back later once the price drops more and can help them to buy at cheap price. Hopefully things starts to get stabilize and we see the btc prices to rise back again and cross its levels of 10k in coming month.

Man, are you having problems reading a simple text or is there is something else going on?
Are you that triggered because you have been proven wrong that you start with this bullshit putting words in my mouth? What the f& is wrong with you!

I clearly said stock market and you quoted it and now you say I said something about coronavirus.
Where the f**8 did I say anything about the corona?

<snip again as you're simply avoiding my questions by saying go watch the news>



And I'm asking you again, can you please make up your mind?


I give up!
You know, people are wrong all the time, Trump, Putin, Satoshi, they all have been wrong and made mistakes at least once.
The difference is that it takes a man to admit he was wrong.

What you're doing right now is trying to weasel your way out by sending people to watch the news. Pathetic.
I'm not going to debate with somebody that is unable to clearly say one thing, to answer a simple question and always changing what he says.


Seriously? Seriously? Really disappointed I thought you were different.

The topic title is "Corona virus didnt affect bitcoin price"

Then you said "bitcoin market was slow to react"

If you are not talking about corona, well.. you are in the wrong topic. And totally off topic.

Who is wrong now? You said I made a bullish topic lol



I think you just don't know what you are talking about.
There is a world crisis going on and you want bitcoin to be entirely uncorrelated? Nothing in this world is entirely uncorrelated.
A natural disaster in China may affect bitcoin price, gold price and stock market in Canada. We live in a globalized world. When  people talk about uncorrelated assets,  that doesn't mean those asset will never have any kind of correlation.

Well, ok, you are right man

Bitcoin felt 3 days later because of corona virus, oil price crisis was just a coincidence (as  BTC was slot to react) and holding price is bullish.

It really doesn't but for some reason the stock market collapsing (which is related to corona for some reason) caused the bitcoin price to get affected as well, people are removing their money from those things and either keeping it cash or keeping it on treasury bond type of guaranteed stuff just for the time being to make sure they do not get affected with these movements.

Corona virus is something that has happened before, we had virus outbreaks all the time, just couple years ago we had ebola virus that scared everyone but it is long gone now and nobody talks about it, there is still ebola related death even in 2019 last year and nobody cared about it because numbers were dwindling and honestly media couldn't continue to show it for 5 years so they started to move on, that will happen to corona as well.

Well if we look at world coronavirus is a real treat to all of us. yes, I don't see it's affecting much BTC but I think it will affect if this problem doesn't solved soon and more countries affected. People selling crypto  & asset and buying gold in china so if corona don't stop soon BTC will go down below 4000$ soon and this just my opinion i am not an expert on this field so forgive me if I made bad Prophecy about BTC.

a real threat definetly because people panic too much  and corona virus is always the topic every single day  . it did affect btc too much in my opinion and the price is still decreasing    . people may sell a crypto but its impossible that they wil use it to buy gold  . how will they do that when gold is physical , i mean the virus or the bacteria can stick on gold and can transfer to you  .  it also requires you to transact publicaly which is risky when youu buy physical assets like gold  . what can happen instead is that people may sell gold or other physical assets then go on digital currency but still risky to go outside for local transactions 

Most of us doesn't realize how furious the corona becomes in the last few days.Now there are over 100K cases all around the world from different corners and these 100K might turns into billions in few weeks to be honest so yeah it may affect the prices if people not choosing crypto as a place to store their assets stock values.

Bitcoin is absolutely correlated with stock market. Wake up guys.

In today's current situation bitcoin's price is started to go down instantly, so i think the pandemic of COVID-19 has an effect to the market that a lot of people might be selling their cryptocurrencies or their bitcoins for them to buy the things that they need like food and beverages while there are lock downs in other countries.

As you can see, only four days after your first message, we can conclude that Bitcoin still has a correlation with the stock markets. Now the situation looks very deplorable.
I wonder how it will all end, whether there will be a continuation of the fall or a rebound back.

Personally, I hope for the second, but given what is happening in the world - there is less hope.

Unfortunately it is not on the market to predict when the prices are going to be affected and when are people going to see the changes .
Corona virus is affecting economy
Economy is affecting people
People are loosing money and jobs
Bitcoins is by the people
Thus indirectly it is getting influenced
Therefore it is indeed right to say that for a while there won't be any selling.

I also assumed this before and was confident that the price of bitcoin could survive above 7k at least it proves that the crypto market does not correlate with the stock market or even the corona virus. But in reality what is happening is the price of bitcoin even continues to collapse and if this decline continues to below 5k then it is a big disaster for the crypto market itself and even for the global economy.

the 24hr change will make you realise that crypto is indeed a very volatile investment!
where are those people that are saying that crypto is the new safe haven of your investments?
 i guess the whales are taking advantage of this situation. and gladly watching what is happening in crypto market.

A lot of the previous stock market crashed (or significant dips), caused the bitcoin to spike. Now, it goes down just as hard as the regular markets.

Just like in the regular market, explaining and making sense of the market movements based on the past and recent events is absolutely pointless - I could account for a bitcoin spike by correlating it with a dorito's sales spike, and explaining that a lot of pot is bought with a lot of btc, and bot causes a need for doritos (which is definitely a strong case).

There's absolutely no point in trying to back-explain the bitcoin movement in correlation to the Corona Virus. Show me a guy that accurately predicts the price movements, and I'll listen to his explanation.

It seems that everything is crashing due to the panic (or at least the excuse of the panic) of the corona virus. All assets are down and even gold saw a drop. It seems that people are crazy for the liquidity of cash, and that's all it matters for them (even if it's not that reasonable). I really can't predict what will happen in the next few days/weeks.

Pizza will cost again 10,000 BTC thats what will happen in near time.

I might be wrong but Corona Virus affect BTC, Why?

virus showed up on December and didn't spread until Jan~Feb, during that time Chinese people from factory quits their job after the CNY. From that time until now some cities still in quarantine which means no job no money.

Now around March the Virus spread all over the world panicking tons of people, nowadays lot of people are spending money to buy food, and prevention products which you can see that most of the time is out of stock (mask, alcohol, disinfectant, etc.).

I see closing hotels, restaurants, supermarket, public transportation, etc. so no income for several weeks / months.

this fear makes the people spend their savings. 

 ;D I'll be more than happy to buy at that point ::) Cant't see it crashing that much further now (for my own accountability, it's at $5,5k now).

This is panic and reason doesn't play.
Everything's down, from gold to shares and cryptos.
We have to wait for things to cool down. We talk about coronavirus, but it's more like madness.

Yes, everywhere we are seeing this downturn crypto market, share market, forex market, what happened exactly we don't know but every market crashed no before like this. Sometimes it is impossible for us to predict the market situation because anything can happen and it will make us panic.

Well that's not bad because right now I think that the bitcoin price are affected by the corona virus because of the news that I've heard that the bitcoin price are getting down just like the stock market but we just need to hold it until the corona virus are gone