Bitcoin Forum

The larger world response to this economy disease is not that bad at all, users or traders should please head to coinbase you will see that the exchange has larger buy orders instead of sell orders, few other sources too, what this means is the reaction from the world is good, people knows that Bitcoin is not a joke and they are taking the advantage

Most likely people from USA decided to move to cryptos once they faced huge losses on stock market which needs really long time to recover from their losses but on the other hand even in weeks everything could become normal so people are seeing this as an alternative still more people yet to jump all in to make demand for bitcoin and increase its price from the crash.

It's not about the coinbase orders because it won't stop the price from droping as long as there is panic and fear in every sector. Everyone is just trying to be safe and finding a way to best store their funds. If the situation becomes stable , there will be more demand and price will move up.

Because they know that the price is very cheap and they shouldn't just leave it like that without buying at the right time which is this time.

It's a positive somehow at the moment but the total collateral damage has been huge for the whole market. We came from $9,000 and did hit low a little by little and was even saw it at $3,700-$3,900 which varied from exchanges to exchanges.

I know crypto and btc is backed by strong community and real supporters are still holding but buying even more but what i have seen in last 3 4 days is like never seen before not only the crash was huge but i am getting dozens of 10% up or down price move alerts from coinbase which is a thing i have never seen ever, i mean this level of volatility is shocking but i am sure good traders will be taking advantage and multiplying their holdings out of this volatility.

Though the current situation is troublesome, the decrease in crypto market is largely a manipulation from the whales to buy coins for cheap playing with the sentiments of smaller investors. There's no prominent reason for bitcoin market to crash. And to be realistic, there's no room for growth as the pandemic situation is to bring a economic slowdown. This is a good time to buy crypto for anyone who could afford.

Expert traders, investors and real supporters are already enjoying this volatility ride but i know it is not for everyone rather it is for only a few to take advantage, most people get into panic zone after seeing such crashes and it takes a lot of courage to enter in such blood bath situations and in the end risk takers are the winners.

True, this is indeed a pretty bad situation. But on the other hand, this could be an opportunity to get BTC with a discount of more than 30%, IYKWIM. With the high demand, it means that the crypto market potential is still quite high. This is not the end because it is only temporary, this bad situation also occurs in all stock markets, so this is a global effect. Always take advantage of the worst circumstances, in a safe way because crypto is a high risk. if you do not have the courage to face this extreme situation it is better to choose a safe path until the conditions conducive to entering the market again.

that's right, the number of orders for purchases is greater than sales. but do you already know that the price given by the buyer is actually below the current market price. meaning that it will indirectly result in a loss to the seller if they sell at that price. maybe this will benefit the buyer but will be very bad for the seller. all of us here expect a profit even though it's small. and the world response to crypto is very good for this year many companies have used crypto as a medium for payment of salaries in their companies.

If that is the case, there should not have been a serious dip as much as what we are presently experiencing. If that is what Coinbase is experiencing, although a world-class exchange, not all exchanges are having such an occurrence. Also, we cannot conclude yet.  until there is outright evidence to show that and it must be evident in the outlook of the entire market.

That is probably one of the powers of media, spreading the news and issues about the coronavirus (the hottest condition right now). Many people are influenced by this coronavirus condition that causes a big change in the market of cryptocurrency especially.

I think that they are heading to fulfill their basket with the BTC and other coins at a very low price. Right now, many people are selling their coins in the very low rate. therefore, some other people use this condition to gain more and more coins at a low rate. This is normal. When you can get many coins in the low price, why not?

Those people are waiting for the right time to buy. the price of bitcoin can go back to the top price anytime as they want. They are taking the safe position and that's why you are seeing so many buy orders on the coinbase,. Mostly of US traders are still holding their position and they are still watching the market.

There are two periods when a lot of people hurry to buy bitcoin: The first is when the market is prospering and the second is the opposite to the first, so with the latter being the case at the moment, I am not surprised to hear that many people are trying to purchase BTC now, they will be getting it at a less expensive rate. One BTC was valued at 9k weeks ago, now it's just barely above 5000, it's a good bargain to cash in on imo.

Investors are always seeking ways to make more profits, this crash in price will definitely come as a good news to many who will take the opportunity to double and even triple their portfolio, only the new traders that will still panic whenever this happens.

You cant just simply advise people head there to coinbase. Some are not practically using it for trading, maybe more users from the US are using it or nearby countries but some are prefer the most common and major exchange such as Binance. The disease is truly affecting many people and even crypto space has been one of its affected area. People need to relax for the meantime and wait for the time everything slowly back to normal.

It's not just on coinbase alone. Even unofficial market in my country like messaging apps, People are willing to sell and keep buying and buying even at a higher conversion rate. People have more faith in Crypto market than stock market. 

Everyone has their preference when it comes to crypto exchange. Maybe, the OP just want to tell that when you head to Coinbase, you can see a lot of buy orders and that means, many people still believe in bitcoin. It is really up to us where to trade and where to get our crypto. But maybe later on, people without prior experience in crypto will find dealing with crypto to be of advantage especially when we are faced this kind of crisis. Holding fiat where you don't know where it's coming from is not safe anymore. So having online transactions has the advantage this time.

Bitcoin have died several times before, there is no reason to be panic about present market condition, more investors are buying as we speak and once coronavirus panic goes down you will witness a very strong market support

Perhaps many people or even average Joe are going to heed that call to use cashless payment, be it credit or debit card or every crypto. As far as the buy order in coinbase, obviously every trader or investor see it as a great opportunity to buy cheap bitcoin or altcoins because of the worsening market condition, so it's a judgement call for everyone.

Many will be happy about this golden opportunity, that's how I see it, those who understands how valuable Bitcoin can be will definitely start buying from dumpers, it's only a matter of time market will surely recover

If this is indeed a very good thing, there will be very large funds going into crypto and this will make the price of crypto much better than before. We must prepare to hold our crypto assets  ;D

That's right, I'm also sure that the price of bitcoin will rise again over time, and those who bought bitcoin during the dumper yesterday will be very profitable, only they only need a little patience in waiting for the rise in bitcoin prices.

People are now coming to realise the importance of the blockcian and crypto at large. I guess there's more buy in for crypto now due to the spread of the Corona Virus. Is this actually going to bring the much anticipated mass adoption of cryptocurrency? Let's watch out as the drama unfolds. ☺

Regarding Bitcoin, I think people will take the opportunity to buy when prices fall like this. The impact of coronavirus in my opinion is only temporary and will not paralyze the world market and economy. With great liquidity and also limited supply, I think big investors will start to realize the existence of bitcoin

Despite the price decline, bitcoin can play a vital role in a global pandemic crisis like this one. COVID-19 can be transferred via physical cash. Also in places where people are currently in isolation, bitcoin can be used for payments for goods and services. It's still unclear where we're heading to as the pandemic is reaching critical stages. This might just be the opportunity we're been waiting for crypto to get massively adopted – staffs are working remotely. If banks close due to the outbreak. Bitcoin can go from neglected digital asset to the new status quo.

If what you are saying is true then why is that the price of BTC is dipping so low.
The price is almost half of what it was a few weeks ago. The corona virus has made a huge impact on bitcoin's price.
May be people have started buying BTC again but that doesn't mean that people have started accepting BTC as a safe haven.

I do not believe that the price of Bitcoin will stay at such a low level and we will be able to further monitor the development and popularization of Bitcoin around the world. I will continue to invest in Bitcoin.

I hope that all this world panic will lead the people to mass adoption faster :) The sooner we destroy the old fiat system the sooner we will see this brave new crypto world :)

I hope so too, not only coinbase but some other big exchangers like binance and yobit. if the market gets a greater purchase volume than sales, then the price of bitcoin and altcoin will definitely pump up very quickly. because if one exchanger alone, maybe it's not enough to pump.

Yes you’re saying the truth and I kept laughing at those that were complaining in this forum about the fall in Bitcoin price. The last time I checked on Coinbase I noticed that Bitcoin has 80% buy rate and only just 20% sell rate. Ethereum was at 73% buying rate. This shows that people are not really seeing things as some are seeing it here. This is even a huge opportunity for those who understand, some will never know this.

Now is the right time to buy this coin and keep. Yes the price has decreased maybe due to the current outbreak of Coronavirus, but don’t be surprised that within a short time the pandemic will fade off and then the price of Bitcoin will pump heavily more than what we ever expected.

Correct but do not expect anything until Coronavirus get fixed first, since not only crypto is affected i remain in my calm state, crypto is more stronger and now even stock investors will know

Indeed. As of the moment people are still into panic and fear and every sector due to this pandemic virus which is the Novel Coronavirus 2019 which is infecting the entire world that really have a great impact not just with the health care but as well as into the economic sector. Many are doing panic buying, hoarding and whatsoever to keep themselves safe from this pandemic virus. The world outside cryptocurrency is directly affected because of this and it comes to surprise for me that even the cryptocurrency community is also affected by this which we have seen the prices of the top cryptocurrencies are suffering which is said related to the happenings nowadays. As of the moment people are really focusing into the real situation that is maybe one of the reason why the demand and usage of cryptocurrencies seems to be low making the prices low. But as soon as the situation becomes okay and stable I hope everything will comeback to normal bringing the hype to the demand of crypto as well as the usage of it. I was just thinking that with this scenario, it will be best to use cryptocurrency to purchase everything specially to avoid having direct contact to prevent being infected by Novel Coronavirus 2019.

The smart ones knows exactly what to do with this type of market we are in right now, many will dump so the smart ones will accumulate, it's certain that many are buying while others are selling, on coinbase there are more buy orders than sell orders, this is a good sign of what will happen after Coronavirus is over

Of course do not worry too much about what is happening in the world today, where the economy seems to want to restart the situation. But always think positive and do the wise thing, take part by reacting with good things

I noticed when bitcoin price came to down and was followed by another traditional market I got thinking that bitcoin was cosidered like another traditional market. The people have been aware of it, if there is someone who talk that bitcoin and altcoin are really bad and have many risk rather traditional market we can give this situation as a proof. The traditional market have fallen a lot too when the recession come and we can see also in bitcoin and altcoin. We need a more time for those people to know bitcoin and altcoin and our job is make a positive information against them everyday.

if you are a trader or a large business actor I think you will feel panicked by the current state of the economy. You can think simply like that because you are not an actor in the world economic movement. Try to see people who have large shares in well-known companies and the value of their shares fell because of a bad market situation.

Maybe it is, but unfortunately most people are selling their bitcoins and other cryptocurrencies in a panic because they don’t know what will happen with the cryptocurrency and of course we understand why they do this, so now is a great time to enter in the cryptocurrency world.

Aside the positive economic reaction, am glad the world leaders and international bodies like WHO  are working hard together to contain the spread of Cona virus  which has already become a pandemic. I hope the disease would be curbed in no time after this overwhelming support  across the world.

The trouble that these people who talked about "buy when it is low" are not realizing is the fact that it is low because we ran out of money to begin with. I mean if we had money then we wouldn't sell our coins, I personally didn't sold any and by the looks of how much was sold we can say that it was a huge company or a very wealthy person since the number of sold coins was just simply too big for couple of regulars.

However it was sold because stocks crashed, markets collapsed and everyone needed money to cover the debt, so basically we can't buy when it is low because we already sold to cover our issues anyway. So, when you say buy when it is low next time remember why it is low to begin with, it wasn't low because some people got bored of bitcoin suddenly.

Whenever you see a sell order, there will surely be buy orders. Humans are buying. This should make some meaning for us. Those buying most times are taking advantage of those selling at that moment, believing that it will still yield some profit later in future.
We could see the way the market played out this time. Some people thought the price of BTC will plummet more, but unfortunately, we saw it rising again and to my amazement, it yielded more profit than I could ever envisage, most especially within a short period of time.

It is very encouraging if buy orders at coinbase or other large exchangers show investor confidence. The price of Bitcoin has fallen quite sharply after falling below $ 5,000 and I think investors are trying to take the opportunity to buy in large quantities. I think in the next few weeks, we will see price spikes that occur not only in Bitcoin but in some good altcoins

I've heard some people using crypto as the solution since they want to go cashless, no physical cash because of the COVID-19.

Sometimes, fake news also is an advantage. I've read na article saying that COVID-19 could be also get in fiat, and cryptocurrency is the best alternative for them to use, maybe that's why it got hyped, who knows. It could also be that people are buying coins which they think that is good to hold in the long run, while they are waiting to the next bull run that would give us another All Time High price, and yes, it is all about profits and surviving in this world.

Now is not a good time to gamble around with your tokens and coins on exchange, market is unpredictable now, yesterday a smart crypto predicting guy said Bitcoin is going for 5200$ ride and few others go for it but instead Bitcoin jumped up over 6000$, now it's better to hold

Panic is real! you can't avoid it. some people complaining about the crypto dump. but as you can see the crypto world is rebuilding.
During the history we always saw some historical things happen and how the world reacted to it

That's true and so many people from italy are moving to the crypto right now and look at this news
https://cointelegraph.com/news/italian-bank-opens-bitcoin-trading-to-12-million-during-lockdown

Crypto has a lot of chance to get more adoption caused by this virus. There was no exact date about when this pandemic will be ended and that means we have a lot of time to see more people try to use crypto.

It just means we have a stable community and the top names in the industry have already stated that they will not sell their shares no matter what happen, and with this it becomes a domino effect, investors are now coming back to invest and support the markets,, it things go well with the vaccine, the market will fully recover.

Is there a different price from exchange to exchange? Coinbase is well known exchange until now there are a lot of people who using it. But I myself is more prefer to use binance or my local exchange because it is more easy intially for withdrawl through. And so far when most of economic instrumen fallen in price I didn't see any promising increase in coinbase exchange and if I compare the movement prices are still same with the common exchange. So what do you mean to took this discussion? Where you know that coinbase exchange is suitbale when the recession come?

Actually it is a good sign that crypto is gaining weight and attention amidst all these financial issues caused by the virus. But however, people are also selling to fiat because they want to be able to buy things as well as paying for services since it is clear a greater number of platforms are yet to accept crypto as a means of payment. In the same way, holding some coins is also good in order to be part of the future of the crypto market.

Cryptocurrency is very different from other investment products such as stocks, which tend to be influenced by the economic slowdown and government regulations in the COVID pandemic 19. Cryptocurrency has its own path, although it was once affected by the domino effect and there was a deep decline in a single day, a few days later the crypto market began improved while the stock market remained weak. Cryptocurrency does have good potential and has many advantages over other investment products, but high risk, everyone must understand this and study it well before deciding to invest. Do not come just because of FOMO, then panic buy, without preparation and knowledge then it will be very risky.

For me, the above is very doubtful. In addition to the orders that you see on the CoinBase, there are orders outside the exchange glasses.
To see them you need to purchase paid software, I don’t know another method. The largest transactions in the bitcoin market occur outside of exchanges.

Investors who were unsure about Bitcoin and sold their assets so price went down. Now more and more people go back and buy crypto, because they understand that it`s one of the safest ways of rescue in total financial crisis

The opposite trend is happening not only with the investors but people from the infected countries have already started to convert back their asset into the crypto and we can see that from the market about how bitcoin is getting a gradual increase to be recovered again to the high-level price again. No more investors wanna sell their bitcoin and crypto again right now.

This is the way I understood it; when this pandemic was at its height with countries trying to contain it, it caused a huge dump in the various markets but the crypto market took a different turn. That is, people first tried to secure themselves which caused a serious dump of course but then again when they realized crypto market is different, they started adjusting and the market starts growing again; this I see as the positive world response, they saw the good side of crypto and stucked to it.

I think there's a lot to do, you cannot rate positive world responses based on buy orders, because in crypto currency buy orders especially can disappear in a second and become sell orders.

The market is manipulative and you should know, never use order book to rate responses

When other investors tried to sell their bitcoins at a very low price, others also took the advantage of gaining more bitcoins by buying them at low price. People expect that this pandemic will cause a huge dump on the crypto market, but i think the opposite one happened. Bitcoin has even gained a higher value even when halving was not yet happening. When investors realized that, they start keeping bitcoins knowing it would still be a great asset in the future.