Bitcoin Forum

this global pandemic is here to stay

cash will carry virus, so bitcoin is the way..
economy is falling down, stocks in red , bitcoin is the way.

people are selling crypto like any other asset. you have to believe, the days of crypto has come..

sell all your stocks and buy bitcoin
use 90 percent of your cash to invest in bitcoin.
sell all your real estate , they will be seized by government for free for building hospitals, just like in china.

so sell everything as fast as you can and buy cypto...

buy supplies and food for atleast 3 months. fill gas in your vehicle.

Bitcoin isn't supposed to do anything. It's the honey badger of money!


Looks like they are both falling together. Like I've said before, a bullish global economy is good for BTC because it encourages speculation and risky investment. A global contraction would do the opposite.


If GDP estimates keep dropping and stock markets keep dumping, crude oil will keep following them down too. Given your prediction, you might as well wait to fill the gas tank. Gas will get cheaper. :D

Don't be on hurry mate! If incase global economy collapsed somehow then likely you will not much benefited even you buy crypto. Because, crypto or bitcoin become part of global economy. Selling everything like you said and buy only crypto would lead more collapse of economy. Because after collapsed global economy some products price will lower which is most available on your country, because your government will not able to export anything like China now. Some products price will be higher. So that time you will need real cash to buy your needs. If you are wondering that you will sell crypto then you are wrong. Bitcoin would more collapse when global economy will collapse. Very rarely you will find bitcoin buyers, because everyone will be busy to fill their basic needs. But I hole nothing will happen like this. Think positive, as soon as global economy will normalize we will see positive effect on bitcoin as well. So please be positive
...

Exactly. Bitcoin may in future be regarded as a safe haven and a ideal store of value, but that's certainly not the case at present. Bitcoin price is positively correlated to the mainstream markets, not negatively. Stocks go down, so does bitcoin. Stocks go up, so does bitcoin. We are absolutely not seeing huge new buy pressure on bitcoin in response to coronavirus.

Perhaps now is a good buying opportunity, as the price is dropping and we all expect it to increase in future - but that's a separate question.

Oh look at them reviving some of the threads here as if they have seen a new god.
They think their prediction are the accurate ones all of a sudden.

I don't blame them. They might be in panic right and don't know what to believe in.
There is just too much ruckus going around about the virus thing.
Still, I don't understand it.
Why of all the markets it should be bitcoin which will fall? There might be a huge misunderstanding here.

The health related 'crisis' has nothing to do with the market price of Bitcoin, let that sink in. But it wouls have a possibility to void the usage of Bitcoin once the situation get worse. How? If the crisis would be more intensified it would cause havoc. Familiar with what happens to movies? People would tend to no longer give importance to money if ever such thing would happen. It will be a matter of survival, but let us hope we won't get to such scenario. When it comes to the market price, we have observed at the moment when NCoV arose, no changes were made in the prices of cryptos including Bitcoin. This shimply shows lack of relationship between these two variables. People should really cut these assumptions.

Guess people are putting too much expectations with how Bitcoin is. A crash in economy would hit naturally hit BTC as well and nothing can stop that. Even if we did say hold BTC and kept buying them, if the economy crashes, the hodl'ed BTC would go nowhere,especially with how what is needed in that crash would be safe assets/havens. Yes, BTC is one of them, but it isn't at that state where you can completely trust it as one right now, maybe after a few years or more, but currently? Nope. I guess people are taking into account long term problems and solutions instead of short term ones.

I also think that part of the capital that investors take from classic exchanges will come on the cryptocurrency market. However, I think that these funds will hit the cryptocurrency market in a few months after the quarterly reports are released. Then real panic should start on the stock exchanges. At the moment I think that are still not the worst drops. I think that by the end of March the price of Bitcoin may drop even to $5k. Of course, this is only speculation, because it is possible that investors will see the potential of cryptocurrencies faster and prices will start rising in April, but it is unlikely that the situation will improve before halving.

I'm always about positive opinion towards Bitcoin but what you are suggesting right now could be something that others would regret following. I mean come on man, sell there houses to buy Bitcoin yet you also suggested for them to buy food worth of 3 months as well as gas for their cars?  If we are setting our priorities straight wouldn't you want to have a secure house to live in to protect yourself against the outbreak? It is just common sense why would you sell your house just for you to buy Bitcoin right now when we have so many unconfirmed cases as well as we are clueless on how the virus can transmit. I would encourage people buying Bitcoin but only in a way they can afford it without losing the basic necessities of living.




Also don't mislead people with only the things you know contactless payment isn't really the answer here, there will be no guarantees that you'll be safe from the coronavirus just because you are using Bitcoin.

Selling all assets then how can I use that money everyday?
Of course, if some assets can be sold and then buy crypto as a safe investment, but is it possible whether this virus will be there continuously? I think the real investment is also important to do and not sell at will it is not good because someday it will definitely be back to normal but if buying crypto is only part of it to feel the profit in the future.

To supply food, of course it must be done earlier.

If you fell like trading, then I doubt today is best day to buy.



LOL like any other government is as efficient as China to be able to make that happen.

With such large price drops, this is actually not the best time to buy. I think it is better to wait at least a few days for the situation to calm down. However, in my opinion the price will fall at least until the end of March.


I think North Korea and and the greatest leader Kim, would be able to do even more, including the complete "disappearance" of owners  ;D ;D

Bitcoin is going to get boned up the arse just like everything else. It'll eventually come back just like everything else too. Until then it's going to have a few more scares in store.

The only upside until the actual upside will be turning more people off normal money and on to alternatives that aren't the playthings of the desperate.

It will probably this will continue to drop in the coming days or maybe until the issues have resolved. It is quite to think that people are selling it now just to use their Bitcoins and other cryptos for their needs because it might possible that there is a problem in regards to money cashout from the banks and this their option to take. Only I hope that it won't getting and every crypto holders that are in need today will never sell it badly at low prices coz this will trigger for a huge market dump and turn into bearish again.

Very hard to tell whether this is a troll post or not. Its pretty crazy thinking people are going to sell their real estate because the government might move in and use it as a hospital. So far from what I read, some state bought an old hotel to use as a quarantine place for a few patients, they didn't seize anyones property. And in China they just put people in student dorms because they needed space, and students never owned those dorms, they just rented. Its bad how they threw out all their personal belonging however on the street but it was a desperate time.

Also what is the point of filling your vehicle? Most people drive alot and after a week or two they are out of gasoline anyways, what are you going to do? Buy some large cointainer to store 500L worth of gasoline for the next few months? I think in times like this people are just selling assets to have available cash and not buying risk-on investments like Bitcoin.

Expecting too much will lead you to disappointment, the recent drop is an opportunity to buy crypto coins and I am planning to do the same rather than worrying on it. Panic sell will still lead you to go down more, so either to buy or just hold is a unique way to save our investment. Most probably the prices will slowly go up by the end of this month.

I think this is the beginning of the short-term bear market. I think the situation will not improve until halving. It is possible that when companies start making quarterly reports, it turns out that there is an economic catastrophe and people will start withdrawing capital from classic exchanges and buy cryptocurrencies, but this may happen at the earliest in a month, maybe two. Thats why my opinion that by the end of March prices will rather fall.

I hope corona will be stop soon, I wasn't really expecting it will go worse that people will be walking dead like zombie, at least I don't want that to happen just to see bitcoin will rise. Now, to you question, I think it's still too early to see bitcoin will rise, and that means the crisis is not yet a major threat globally, in fact in our country, its business as usual, there are some warnings but people are still living their lives like normal.

As most countries already going cashless (including some surprising ones you might not have first thought of in developing economies), you only need to digitalise and work through low-tech devices. Especially since smartphones we take for granted aren't actually as widespread in the populations that need digital cash the most.

And until there are good alternatives in fintech with normal fiat, I wouldn't recommend using crypto or bitcoin as a replacement... yet. Doing so would be getting it all wrong.

I hoped Bitcoin would be a hedge against economic recession, but it looks it's very correlated unfortunately. That's not good as we're definitely going into recession and btc never existed in bearish economy :(

Corona isn't here to stay. China's weather will soon warm up for Spring and COVID19 doesn't survive in warm weather. The spread will slow down giving experts time to develop a vaccine for it so hold your horses. Its not doomsday, you'd be homeless if you sell your real estate properties today.

This corona virus will force countries to also go cashless and will probably adopt cryptocurrency, it will speed up the adoption but may not make the price moon all of a sudden.

I have said exactly the same thing somewhere else as well, there is really nothing that could make bitcoin go down regarding this corona virus deal and people are still selling their coins for some reason we will never know.

I mean every single fact and data shows that bitcoin should be going up right now, every single one, yet the price is going down and I assume the only reason for that is the fact that we are actually in a bear market everywhere else in the world so people assumed we would be in bitcoin as well and they sold and since this is a decentralized and unregulated market that caused a bear market here as well, no other logic comes to mind. Halving is just around the corner and I still think this is a great moment to buy as much bitcoin as we can before it goes off.

Its not people doing it wrong, OP. Its the whales who had joined forces with the legacy system. Now we have bitmex, futures, options, all those tools which were used by TPTB to destroy the gold and silver markets. Now they are being deployed against bitcoin.

So, with or without virus, it will keep going down. From what I have been observing, first it have lower highs, then higher lows, then it go sideways for some days, and then it goes down to the level below. This pattern is repeating itself in a systematic way, which indicates heavy manipulation over it.

People, then, have fear of buying it, and see it losing value in the next month. People have bills to pay, they cant go all-in like the bishops of the hodl cult wants them to do.

Ignoring the coronavirus for a moment, there is a school of thought who believes CME futures whales are consistently pushing the BTC spot markets around to benefit their positions on CME. There are even traders I have immense respect for who speculate about this.

It ends up being a very circular sort of logic: price moves and we assume the CME whales are responsible, so we look for evidence to confirm the theory. The problem is even if it's true, we could never know what those positions are and when they have been closed.

All we can do is speculate based on price action, contract settlement times, and volume. So we are currently looking for a notably bullish reversal candle, on very high relative volume, preferably close to settlement time. This would indicate the CME "composite group" (as you might call them in Wyckoff terms) has re-positioned themselves for a market reversal. The aqua arrows point out some previous examples:

https://i.imgur.com/tFQ83I4.png

You say as if the world is almost doomed.
we know if the world economy crashes, are you sure that crypto continues to grow ??

there is nothing wrong because for me right now the market is undergoing correction to get a new quality improvement again.

bitcoin was supposed to go up but for a dozen other reasons none of which were directly related to Corona virus. for starters bitcoin has been in a bull mode and the rise was expected, with halving coming there is a lot of hype that warrants a big rise. on top of all that we have numerous bullish news with countries accepting bitcoin every day! under normal circumstances that would have meant at least a  40% rise.
then there is all the other markets crashing which means there is a ton of money exiting those markets and looking for an alternative asset to go into. bitcoin has always been among those "alternatives" even if at a smaller scale.

that leaves only one logical explanation for the drop: manipulation.

Not sure how accurate that is. It really depends on market sentiment. In a strong bull market, bad news selloffs quickly get bought up and good news triggers rallies. In a strong bear market, good news doesn't mean shit.

I'd say we're in the early stages of a bull market but sentiment is still very fearful, so good news has very little effect.


Those markets are crashing because investors are dropping risk assets for cash and bonds. BTC is a risk asset too.


You're not alone in that conclusion, (https://bitcointalk.org/index.php?topic=5231428.msg54003659#msg54003659) but I'm skeptical. I think this is just a normal correction, no need to blame manipulation. Plenty of people were expecting a big pullback from the $10K area. It's only the ones who didn't see it coming who are complaining about manipulation.

 what i only like with your sentence is the last one  .  indeed stocking up something you need can help you to not to go outside on public and risk your self from the on going epedemic but other than that i wont agree on the rest that you said  .

why you blame people  ?  for not letting the btc up ? thats not right bro , that isnt thier fault but its yours if you bought btc and expect something extra ordinary   . yes there is a virus issue and with that ,its expected that all of the market including crypto are going to be affected    .

That is not what happened when I went to the grocery. They are now hoarding everything.

My own hypothesis.
They sold their bitcoins to buy those supplies but they don't want to move their money from the bank.
It looks to me like they will jut entrust the banks for now thinking there will be nothing soon.
No miners, no bitcoin holders.

Just my own opinion though. No facts to back it up.

Yea agreeing with you on that topic. It's still to early to call Bitcoin a safe haven, but you are right, Bitcoin is on the right track. Maybe in a few years the ordinary Jimmy will realize and Bitcoin can enlarge his position as 2nd biggest safe haven, right after gold. But for now crisis will hit Bitcoin the same as it hits the stock markets.

Yes, that is what should have been realized to be carried out in real action although indeed, buying food supplies or other things in this matter is like a panic buying but that's what happens because the corona virus outbreak is getting worse and of course, with this economic instability will make bitcoin becoming a preferred choice for many purposes which is safer than spreading any virus. But, I did not expect much about it, because after all wiping out this virus would be very important from any case.

I guess when there is something much more scarier than money, its health. Think about it when your life is in danger and you need to think about surviving, do you really care about the money part of the question?

There has been literally 500 thousand people in USA just in 2019 who went bankrupt and lost everything just while they were trying to recover from sickness and that is USA, when you think about the whole world there must be millions of people who go bankrupt every year just to stay alive. So, it is expected that this corona virus deal has made people make bad financial decisions because they were scared they would be one of the people who have lost all of their money during this situation if they get corona virus. Even the tests are not really easy to get hands on if you think about it.

So, do you think the Plus token scam that might be the cause for Bitcoin to dump, a part of the manipulation?
I mean, I also have the same thoughts. I knew the bullrun is about to happen anytime as the market shows a good sign of an upward trend, but then suddenly came falling gradually.
Yet, as days passed by and the worse has come for the corona virus, I realized how this global pandemic have affected the traditional market, thus causing a slight effect in cryptocurrency as well. Though, the corona virus does not make a direct effect on cryptocurrency, but the people are already panicking, and bought necessary things for a possible lock down survival. So, the money that should've been diversified for crypto investment has been spent for the preparation of the pandemic. Some are hoarding massive number of sanitizing kits and sell it to a much higher price than the suggested retail price.
This are just some minor scenarios I believed that could affect the current Bitcoin price.

Seems nothing is trading like it should. Trump gave his speech and markets went down hard, and BTC followed. Gold on the other hand you can see it traded sideways, so I am surprised here.

Basically I think one reason why Gold hasn't rallied hard yet is because we are technically not in a recession yet. However depending what happens on tomorrow's open, it might get ugly fast. So many people are panicking right now especially the retail investors.

Stop spreading panic!


Yeah, how did that work out for you?
Crypto all the way..hammered exactly 40% in the last 30 days.
How many times does it have to happen to understand that everything that is bad for the economy, it is going to be bad for bitcoin also?
People that are laid off, that are in quarantine, that see their funds running out, their business crumble will not buy bitcoin!
I've been telling all those apocalypse lovers for years this, when something really bad will happen, bitcoin will just follow the others.

Because BTC is not a magic pill, it's not the holy grail, it's not Jesus, BTC is money, and look how things are turning out.
Ironically BTC needs more than ever a healthy economy, not some mad max doomsday world to thrive.

Actually, the fact that bitcoin is not going up, and instead is following the stock markets on the way down, proves two things: a, bitcoin price is under control of the same guys who gamble in the stock markets (futures, options, etc) and b, coronavirus is fear porn to make the masses obedient to a upcoming global police state.

In the option a, if some whales had not joined forces with TPTB, the price would be going up. They are shorting it to make money out of bitmex, CME and BAKKT, and they are not re-buying crypto.

In the option b, if coronavirus was a real pandemic, and not fake, people would be buying bitcoin to avoid paper money. Since any death from pneumonia (whatever the cause) is being computed as part of the pandemic, its easy to imagine people believing anything governments tells them, including buying their own cryptocurrency (which will not be bitcoin) at the end of it. And before any of you thrown media bullshit here, know that I had pneumonia in the past, and I know very well you can die from it.

The reality is, companies are trying to actually get liquidated these days because they feel like all the money they reinvest into their jobs may not get back to them with profits during this time and that is why they are actually keeping it on cash. It means all those trillion dollar investment companies are not really likely to invest into anything these days. They want to get rid of all the stocks they have and that causes stock prices to crash. What else can they sell with very ease for billions of dollars?

The crypto they were holding, they can cover the losses they made from stock prices with the profits they have made thanks to crypto which increased 2x in the last 1 year, so that is what they are doing right now. Simple as that, nothing more to it.

pandemic is here to say ? no fckin way.  seems like you like it when you say that itl stay . i believe governments and higher people are now inventing a way to destroy this epedimic . no virus epedimic remains on this world so far except from common virus and other individual normal disease . and how do you say that bitcoin suppose to go up ? how can you be so sure that corona is related to bitcoin but one thing im sure of is that people are scared and selling thier investment so that they can stock up a cash that will be using in times of hard ship because its hard to go to work right now

No it isn't, it will be contained soon, this is a global emergency so the smart people in the world are definitely looking for the cure that they will be releasing soon. Bitcoin is supposed to rise but not when its result is tied with the global situation, people panic so they are cashing out, same thing happens here, it would only be okay if its not a global pandemic, but it is, a serious struggle for all of us and at this time, our needs matters most than an investment.

Wishful thinking

1. Corona is here to stay. We need to manage it.
2. Weather argument is fake news. In Australia and Africa it is spreading and it is hot.
3. A vaccine will help prevent future spread. Natural immunity needs to be built up.
4. Bitcoin has the anarchy of cash. Countries will go cashless but never 100% bitcoin.
5. 100% germ free will kill you. So getting sick is part of normal life and gives immunity.

Bitcoin is the honey badger of money and doesn't give a shit about corona  8)

+1 it will never be contained. We need to manage it...

Look at polio, measles, etc. we have vaccines but once we stop vaccination it is bound to pop up again

It seems a positive reaction to bottom pricing here.   I do expect some retest but its possible we are still going to see BTC turn around and even be more used in any lock down scenario.

https://talkimg.com/images/2023/06/12/A7pJg.png

To stay elevated in this area I count as positive.   A retest of the lower price in 3000's would be more serious, but till then despite the prior falls I count BTC as acting relatively positive going forward.

Then we do the vaccine again, the most important thing here is to find the vaccine for this virus so people will not anymore panic, as long as they get cured when they get infected, this virus is not going to be a serious threat to our life.

I know isnt bad to have these kind of optimism when it comes to global adoption of Bitcoin but it wont really be enough even we are on a very serious problem.
Do you really believe that fiat would vanished as easy as that? It might one of the cause of transmission of covid but doesnt mean that it would really be removed so
easily.Just like other markets we've seen the worst atm where everything is on read and not all people would have that same mindset on accumulating cheap coins,
consider out the panic and hesitance in regards on investment decisions.

Yes people are in serious problem and not only single person but the whole world is suffering. So we should all be together and fight against this issue. About bitcoin we can see the price is dump so its better to keep holding and waiting for it. Those who have money they should try to keep buying and later on you will get chance to have more profit.

We can't blame those crypto users that are selling some of their portfolio as they may have urgent needs to address. With so many businesses closed, they need to prepare themselves for the worst and not be trapped without a fight. if someone can afford to buy crypto without hurting anything, like their financial capability during this crisis, i guess this is a good opportunity for them. but for those who are selling, it is understandable actually. We all have different needs so you can't tell someone that you are doing something wrong with your decision.

Today is actually the very first day when BTC no longer follows stock indicies. If you go to trading view and click the + button and add BTCUSD and US30, you will see they were correlated for a while however for the last day, bitcoin traded sideways while stock indicies went lower. So its looking good.

I think if stocks got a decent bounce then BTC could really rally all the way up to $8000 very fast however with all the stimulus and QE doing nothing, I think the only time when stocks will rally is when maybe a vaccine is out. However who knows how far away that is.

If there will be a retest in $3850 where the price bounce back, then we can say that there are now buyers in that area. If you will use darvas box, you will see that the price is still consolidating. We should just wait if there will be a breakdown or breakout that will happen. But the chances of breaking down is much higher because there are still panic in the international market.

You are in panic mode, please stay calm and think again before doing something bad. People will choose to sell their bitcoin into gold and property for saving, both have regulation and protect by currency and fundamental history. But supplies and fill gas is important because panic can create chaos and supplies/ gas will become expensive. I agree with last but not with the first.

$6200 and still increasing,feels good to see a huge upward curve. :)

Seems people started to realize what they have to do with bitcoin at the financial crisis, better use this opportunity and create panic buying button guys. ;D

Everything gets sold in a market-wide panic.

Last week was the panic, so stocks, gold, oil, bitcoin, everything crashed.
This week the realization of an incoming recession is starting to hit, but combined with the expectation of lots of debt fueled money flowing out of thin air and quantitative easing coming. This is all good for Bitcoin. Bitcoin doesn't care about recessions because it isn't a company. But if lots of money starts flowing, that makes fiat currencies less valuable (making Bitcoin more valuable in comparison) and also that means more money being passed around, a little bit of which will flow into Bitcoin, especially as people look for hard money stores of value while companies are floundering.

And what do you know, today we have a 20% bump in Bitcoin! I expect stocks to stay low in the coming months, propped up from significant further crashing to a degree by money printing efforts and QE by governments and central banks. Meanwhile I think Bitcoin will look pretty strong in the coming months. I could definitely see Bitcoin going back to yearly highs in the next 6 months while stocks still being down around today's levels (Dow at 20,000) in 6 months. Seems 3800 was likely the bottom of the crash for Bitcoin, I'd expect stocks to continue to slip a bit more even with massive injections of cash, unless of course we turn a corner on the pandemic soon and things go back to normal everyday life in the next few months.

Of course it does. Recession means declining businesses and job losses. It means everyone has less disposable capital. That means less investment into anything (including BTC) and increased pressure to sell off assets (including BTC).

Plus, BTC has never actually experienced a recession. We probably shouldn't be overconfident about its performance. BTC falling 63% in this episode (vs. much smaller losses in stocks, gold) is something to consider.

The big question for me still: is this a short term contraction (months) that does not coincide with a larger recession, like 1987?

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

Bitcoin is not "supposed to" do anything if we do not force it. It is we who are responsible with the price of bitcoin and if we sell it goes down, so we are the ones dropping the price.

Definitely, it makes more sense that gold and bitcoin should go up, but I guess people didn't want anyone else to have their moneys control so they withdrew cash a lot, many people literally carrying big amounts of banknotes now, there has been surge in withdrawals all around the world.

Even in health approach that makes no sense because we should not be touching each others money in case any one of us have corona but for some reason banknotes saw a surge even with that in mind. So, I agree that it doesn't make sense, but we are the ones that cause that no sense thing on bitcoin right now.

it is not possible to predict how bitcoin price is going to react to recession.
but another way of looking at it is that for example last recession that started in 2008 was caused by banks and their deep rooted corruption as centralized "money handlers". bitcoin was created as a decentralized money to battle that. considering the fact that absolutely nothing has changed today compared to 2008 regarding banks and their schemes, we may see bitcoin becoming hundred times more interesting if another recession was caused by them again...

I do not understand the mockery of the people who think the bitcoin price should not be affected or should be going up in a world crisis. I can see we could have bears and bulls in the market and that is understandable but picturing the bull callers like some idiot moron but picturing the bear ones smarter somehow doesn't help at all. Where was this call when price moved from 3.5k to 14k last year? Where was it when it ended with x2 profits for the whole year?

Where was it when the year started with 7k and moved as much as 10k as well? Nowhere to be found. You have figured out that after 400+ days the price finally dropped and bear ones are smarter because of it? I am sorry but if you are right just once every 400 days, that is not really the smart person in the room.

OP's reason is very simple on why bitcoin should go up, it's here below:


IMO, that should be the basic, though cash or paper money carry virus but buying bitcoin is not the best way for the majority since not everyone knows how to transact bitcoin and we know that majority of the world are still using paper money for their medium of exchange.

OP just underestimated the adoption process, it would not happen instantly, it will take time though.

Sure put your money first before your health.
Secure your investment not your family?
It is a great time to buy but not everyone could afford it because of the corona virus.
The price of crypto drop down because they need cash for necessities.

But how are you going to eat?
Not all countries have merchants which bitcoin is accepted without a problem.

I will still prefer cash. We are not yet in the time for bitcoin usage by now. I do hope I live in Japan.  ;D
It cannot be stopped because there is still no option for that kind of payment so people will need cash. That is the easiest method for now.

I think in this situation bitcoin is best for investment. If you have local currency, it value may decrease over the time because of corona virus, so if you buy bitcoin now (which is cheap too), there is a very good chance that you will double your money when this virus disappears.

Actually, the price would go up with the presence of the virus, as governments would be printing more money, thus causing inflation. This would compensate with bitcoin, which was a deflationary asset.

But since now bitcoin is part of the legacy system, and just another asset for paper speculation, it will go down together with it, thus being useless against financial crisis. So it will only recover when the fiat system recovers, that is, when the "virus" go away.

But still it's just a correction and we are down from $10k and we are also down from last years $13k. Bitcoin isn't doing great, it's doing "ok". Bitcoin will probably go up even more soon, but it could be attributed to the halvening and speculation rather than a reaction to economic problem.

It's also important to calculate the price changes properly, it's not enough for Bitcoin to simply rise while stocks/fiat tank, Bitcoin should end up higher or on the same level when it was before the crash.

Read an article today that some stock markets around the world might close. I don't mean halt trading when it reaches a threshold but actually close down. I think this happened last time on 9/11. And also some Philipines stock market also took a 2 day break, and ended up opening with a 24% loss immediately.

Hence if most stock markets around the world close, then bitcoin and other crypto markets will rise to the occasion since its not possible to close them down. I honestly think its bad closing any open markets because there might be people out there that legitimately want to buy and sell their stock. Closing it is not a good option and would lead to havoc. I think as long as the trading is electronic then it should stay open.

So if it ever comes to this, then bitcoin definately will go up due to coronavirus.

There's something to be said for circuit breakers. That's essentially what a temporary closure is, an extended circuit breaker. The NYSE closed for 4 days when 9/11 happened and it's hard to say what would have happened if they hadn't. During WWI it was closed for 4 months.

The Philippine Stock Exchange is a slave to the larger markets so I wouldn't expect its closure to be effective. If the NYSE and other major exchanges shut down it might be a different story but it's impossible to know.

Well, it did go up, not back to what it was but people realized that bitcoin is the way out and that is very important. If stock markets or gold prices went up before bitcoin did, that would have been very deadly for us, that would mean people would rather spend their money on companies that are still in the fence about going bankrupt because of this or getting a bail out versus putting their money back into bitcoin.

However, we managed to recover a bit, still not at the price we used to be but we became the first thing to show signs of recovery and that means that peoples trust to bitcoin and their love for bitcoin is still there and that is seriously important. Of course halving being around the corner now is a big part of this as well, that is one of the reasons why people got back so quickly.

Well bitcoin will recover a little later when halving because I'm sure there will be so many requests later, there are still many people believe in bitcoin even though the situation is still like this many stock markets plummeted and gold but bitcoin will remain in the right position or for investment again we see the next few months the increase will happen again indeed many predictions that bitcoin will not take long to rise but we believe the love of bitcoin is able to bring the increase back at the right time.

Yeah, cash is still the king no matter what for many situations. I would rather have 10k cash in my hand right now than 10k bitcoins, because with bitcoins if I want to spend it I will most likely to change it to fiat and spend it that way, on contrary when I have it in cash I could simply just spend it right there and than. This doesn't mean I like cash more than I like bitcoin, this doesn't mean I am not a bull when it comes to crypto, this just means that in "right now" situations cash is still better.

However when you look at longer term, as an investment bitcoin is far superior, everyone should rather have bitcoin to hodl over cash. These days were just moments we wanted cash right now, that is why it dropped so low for a while, now it will recover for the long term.

We should because cash is not an investment, it will slowly kill the value of our money because of inflation, and I think it's happening in any country because the current system is corrupt, the FED can print money anytime when needed.

Like in this kind of situation, the world is panic, we need to have an investment that we can carry anytime and we can cash out anytime and that is crypto, I'm not saying we should prioritize crypto but we might consider it.


We can cash to survive so people panic, this is where the supply is going to be low while the demand increase for the basic needs, without cash, we will hardly survive.

people do not work because of the virus, so they sell bitcoins to buy food

This is recently but when the Corona started this did not reflect in market because the virus happens in december but we have more pump in January until the start of march but now?yeah this is what people do,selling Bitcoins to Buy commodities because there is no Job and only limited has offered to have a Work From Home so the thing is?selling Crypto is the last option.

We don’t know the status of life of every crypto hodler so maybe this is their best choice to survive and its normal when the panic is too high in the market. People are reacting normally and this is expected considering the virus becomes pandemic. There’s still a good chance for us to buy so let’s move on and let’s all fight the virus as one and rise again.

Well we were right, bitcoin DID went up. I know that it goes up and down right now but it is at least trying to break the year to date profit levels and that is good enough for me. As long as break above 7k and stay there, I don't care if it is 7.1k and stays there, that is fine enough. Right now we are trying that, sometimes fail, sometimes try harder, multiple tries are very important as well. Multiple tries tells me that there are people who believe in bitcoin during these hard times and that is the most important part.

As long as there are people who are buying bitcoin during bad times, there will be bitcoin that goes up as well. Maybe in short term we lost some momentum and I know that many of you got upset over it, but long term looks quite bright from here.

Even if this price increase not related to the economic problem still can attract more new people who involved with stocks since they know that it will take at least a couple of years or more to recover from the losses they faced overnight but with cryptos, it won't take that much longer.

This is one of the best reply for some of us calling for bull market at a grobal recession moment because of the infect of covid19. I believe that most of our political and financial analysts did not see this coming. Bitcoin exist in the world and it could not have done different in the face of this pandemic.