Bitcoin Forum

Just in few days now we have been experiencing unthinkable massive market drop, it seems something happened which I did not hear off. Please anyone here to tell me what exactly happened to the market?

Thanks.

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

OP don't tell me you don't know about Coronavirus or never heard of it, even those who aren't into crypto knows that Coronavirus is causing panics everywhere and it's affecting stock markets and people are dumping their coins because of it

Incase of you haven't been following news recently, it's the same Corona virus that also changed the turn out of events during the Chinese New year,it's still on,and it has caused panic in major sectors of the economy, crypto community is just one of the few and that has led to price fall.

Because there is economic turmoil in the traditional sector,this is the first time that some people will have this first hand knowledge of how global market. There is no way crypto market can live in isolation of the the traditional market, if this continue for a long time people need to be prepared

You don't have to sound that way. It may be surprising but some people might not actually know there's a virus causing panic and fear in the world. It may be new to their ear.

For the poster, you need to stay updated with the happenings in the world so you get acquainted when things start going sideways in areas where you have interests or investment.

As I heard, seems people are beginning to embrace crypto to avoid physical cash exchanges that aids in the spread of the Corona Virus.

This coronavirus panic is a just an excuse manipulators have to crash markets, the idea they have is, i will crash it then idiots will follow and sell too and then i will buy all back and then wait, rinse and repeat. About cryptocoins, they are doing a mistake and the best thing to happen is to happen the opposite they are betting on, I mean, idiots are expecting it to crash then it will be an extreme pump, remember, crypto is the opposite of how the market as we know is. So bitcoin supposed to be at 50k, not at 5k.

its the corona virus and add other negative news like what happen in plus tokens .
https://cryptoslate.com/chinese-scam-plustoken-is-moving-117m-in-bitcoin-research-firm/
This two affected the market badly withing this week. I dont know if what of that negative news is giving too much dump btc but that two is the reasons.

today I read a lot of posts about the great influence of the corona virus on the state of the crypto market. all these posts say that the market will bear due to the arrival of this corona virus. but I have another opinion about it, this corona virus is the same virus as other viruses of course it will be dangerous it's just that it will be trending when they first appear in the world. so do not make this virus as an obstacle to your work in crypto, because for work we don't need to leave the house right. so keep working because crypto lives from transactions, so we know the consequences if many crypto people leave it.

if you follow the news developments that occur, most of the price reduction occurs due to coronavirus. This virus does not only affect crypto, but also an economic decline in other countries. however, so far, I have seen a decline in the price of crypto is really very large. You can find out this news by searching on the internet, you can find lots of news about the decline caused by the coronavirus,

Most likely OP had not met with COVID-19 (Corona Virus). Due to panic of Corona so many people sold their cryptocurrency and trying to hold some real cash for their emergency needs. And I believe that's the real reason behind of current crypto crash. On the other hand due to huge sell holders become more panic and sell more, in a result we experienced another huge dump. I think this time will take longer to recover crypto markets again.

Several persons are of the opinion that the major cause of the drastic reduction in the value of cryptocurrencies is the corona virus epidemic. I understand that the virus has caused a great deal of panic and people would prefer to sell out and utilize the money for expenses which may arise in the cause of the pandemonium.

because some people who have large companies now have difficulty making sales outside their country. of course there will be a decrease in the velocity of money that will occur in all markets. most countries have experienced their economic problems. so it is only natural that some people who have crypto assets withdraw their money in large quantities now. hopefully soon and the world economy can improve again.

Are real in this world with us or you are posting from another planet. the world under attack by a deadly virus that have crashed retailers and business. Most business outlets are out of services. Offices has ordered there staffs to work from home( Not a big deal). Coronavirus is mess the universe up. Another issue at hand is the Oil trade war between Saudi and Russia.  we don't know how long this pandemic will last. China the epic center is making progress.

If there is panic buying among communities that are in lockdown, there is panic selling in crypto market. i guess there are a lot of crypto holders that are selling some of their coins to get their fiat currency in preparation for this long break from work or source of income. and a lot of whales are taking advantage of the situation. if you can afford to hold crypto in long term, I think this is a good opportunity. because sooner or later, the bitcoin price will bounce back. even reaching 8-10k again will give you a handsome profit in return.

The number one reason which many declines that ongoing from different sectors of financial industries is this corona virus that keeps spreading from different places. With panics that ongoing from the market, most of the traders and holders are also following the trends. Afraid of losing their money
they are doing the same. Make sure to read and watch the news and you'll be able to assess what are the best plans to consider during this season.

Ive read some news about some facts that is happening all around the world, some says it was due to the drop of dow jones industrial average, others says it was some major geopolitical conflicts of such as the dispute of oil price between Saudi Arabia and Russia, but it never came to news more frequently because of the virus. People seems afraid and panicking, some says it was the main reason but in my opinion it was a mixture of those.

Yes bitcoin was supposed to be at 50k and not 5k but whales have accumulated of the circulating supply of BTC which is why they are able to manipulate the market so easily. Bitcoin was supposed to be distributed among the people but few people are holding a majority chunk of it.
This is why they are the ones making money while the market is facing the losses.

I think it was due to a combo of factors but mainly it was due to the panic and fear caused by coronavirus which spread quickly all across the world and people were threatened for their lives so they tried to sort of cashout to arrange for emergency or simply use their money before they die but i think it was pure panic and market will soon recover also this crash and volatility was triggered by big whales and market speculators that took advantage of the fear in the market and end up buying more cheap btc from panic sellers.

Well it is no more news that the Corona Virus effect caused the sharp drop of cryptocurrency.  However, the cryptocurrency is not only affected by this virus, other sectors as well such as crude oil, gold, forex and the world's market generally is largely affected by this virus. We hope for things to normalize in short time.

The global epidemy which befallen world through corona virus was the cause of these drastic downtrend for some few days ago. Although many other market were also crash like the stock market and oil war trade, these where many things that contributed to the down fall of cryptocurrency. We hope this don't happen to Bitcoin on the longway as it will discourage many potential holders which will not panic sell their portfolios.

Probably the most crazy crash in the crypto history (-44% loss in one day) was caused by uncertainty in the market, investors are selling all assets and they are preparing for another economic global crisis.  :-\

The market shaking dumping was brought by panic from corona fears while some experts think that the upcoming recession was one factor as well but i think there is no need to panic and corona is dealt nicely now all around the world and we will see crypto market recovering soon as well.

Coronavirus alone cannot contribute to the downtrend in the crypto market. there are other factors that might be associated with it. Do not be surprised, even the so-called Coronavirus might just be the secondary factor, but what most people see is the disease, because that is the talk at the moment. I believe if you even search google for the most searched word now, it will definitely bring out the disease.  One of the major factors I see is the fear of the unknown. If it manifests., then others may just aid it.

I think this is due to the fact that the dollar has grown very much in price. Many people may have started selling the crypt to make a profit. So the price started to fall. Also, the hype around the coronavirus also did not go without results.

People need cash now because of the lockdown and quarantine due to covid-19 hence investors are selling their coins.

While other investors do sell because of the fear of losing their investment in short they are a weak investors that cant stand seeing the market declining.

The virus is a serious issue and a challenge to each country on how to stop it. We cant say how long it will last but I hope everything can return back to normal as soon as possible.

Yaps, assuming someone is averaged due to a fairly deadly virus (COVID-19) causes a market panic, not just crypto that lights a red candle, in the stock market also occurs and several other assets. actually the speculation that made the panic in crypto-world not only happened due to coronavirus, but many people panicked because of the news that miners no longer profit and reportedly Bitcoin Halving is imminent, meaning that halving the miner's income is no longer profitable if the price of bitcoin does not change. of course if there are no miners, Bitcoin is stuck, if this happens of course (game over). so bitcoin should be in the near future, prices will have to soar to retain the miners, because someone will not do that if it is not profitable.

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

In my perception, fluctuation ocuurs indefinitely. Sometimes continuously decreasing of prices tends to unthinkable reason behind it. But what's on my idea is when a token or coin that is massively sold in the market, it actually decreases.

You have to look at why there is a panic right now and that is due to the COVID-19 scare spreading globally.
IMO, that's exactly the cause of the market drop but please bear in mind that it's not permanent and this temporary market drop is an opportunity.

This happened because of many factors, I think maybe this is happening because the price of bitcoin as the main coin has decreased very significantly last week. Therefore it causes a drop in the coins below. Apart from that it might occur due to this final outbreak virus which attacks several countries, thus affecting market prices

Just a whales sell off and we're all affected of it. Some says that it's correlated with the covid19 that's spreading everywhere and has been declared as a pandemic by the World Health Organization.

Some says that we're on actual bear market again after all of those months when we've seen the greener days. No matter what exactly the reason of this tank, get yourself the best position and start buying at cheaper rates.

Most people will say it's about the pandemic that we are experiencing right now. A lot of crypto users are selling off their bitcoin to prepare for this crisis. And the whales are taking advantage of the situation. But no matter what the situation in the crypto market is, we need to be prepare for ourselves in this another "bear" season. We don't know how long will this be so we need to get ourselves ready.

There could be several reasons for the drop in value of cryptocurrency, but one of the most obvious reason is because of massive sell out both by whales and other small holders. The point is that some persons would fall for the bait when they see whales selling out and the prices falling. Another reason for the decline could be because of the corona virus epidemic which has been causing panic and pandemonium in the world presently.

People will give you the same answer, Corona virus. Because of this all economy sector become slow and quiet from development process. This time crypto is connected with global economy world, if something happen bitcoin will get impact also. Fundamental method really need to learn in this situation, analysis from news can make us understand market habit. Use it and make sure you use long term period time for your strategy, it will helpful.

There are events in particular that most likely cause the dump. Bitmex exchange force liquidation on their exchange creating a huge drop, and also some whales are moving funds to exchange and directly dumping the price. There are also news on plustoken dump the btc on their possesion. And the most crucial one is the corona virus panicking. Which let some investors pulled out for buying supply for rumors of potential locked down on most country.

That's how this market works, if you know how to position your investment the chance to get into the right timing. The downfall can also be treated as opportunities to invest then wait for the recovering as experienced can give a good glimpse on how this industry bounced back from each falls that take place.

One could have easily put the blame on whale manipulation since the halving event is getting closer and like previously they're shaking the market to chase away weak hands to refill their bag with the hope of benefiting from the hype associated with the halving of bitcoin's block reward.

Although that's not the case since not just the cryptocurrency market is been affected but all other traditional market like stock makret, bond, commodity etc were all affected. The like of Gold, Oil, company shares etc all declined in price. Forex market was also affected as some currencies lost value.

Since the whole economy was affected than the trend of the day which is Corona virus would had obviously been the cause of the panic, people decide to take precautions measure since no one knew what was going to happen next, they're all cashing out their investment and probably storing more  fiat Incase if an economy meltdown.

There's a global crisis due to the corona virus and bitcoin is global therefore it's heavily affected now.
The dump that we saw is huge but there is no guarantee yet that the dump is already over, lots of signs that there is a possible big dump incoming.

Therefore try to be ready for this, don't panic, part of investing here and be matured.

First reason is whales manipulating the market. The second reason global economy meltdown. The third reason fear of the damm virus. Fourth reason panic selling by retail investor.

Situation might get worse so, be prepared.

Yes, be prepared whatever is the reason behind this crash, we should be prepared.

This is like minding your own business and making your own strategy throughout this crisis. If the whales are doing anything they can to take advantage of it, we should too. And the most basic thing that we can do is to buy.

It's because of Coronavirus, I can't see any other reason behind this massive drop. Coronavirus is spreading worldwide and people are dying every day! So, it's normal that all the stock market, the crypto market is facing a huge decline! You may open the tv or read some news through your native newspaper, so, you will get why we are in panic mode and why crypto is suffering these volatile pain!

I personally understand that the market will always behave very unpredictably. Since there are many factors in the world that can affect the price of cryptocurrencies. And forecasting a market forecast is very difficult and no one can give all analysts an accurate forecast. So it happened that the market fell sharply for some reason and immediately began its turn and went up to increase. So it is very difficult to find out what has served the market such changes in the market.

Of course, because the big news about coronavirus and social media is very crowded because of panic, many people say this is not because of coronavirus but I am sure it is caused by a coronavirus which significantly affects the world economy. But there are also those who believe this is caused by whales who want to buy bitcoin cheaply to welcome halving bitcoin.

It could be true. Maybe people sell their bitcoin because they run out of their money to buy their daily needs. Corona Virus has an impact on real life, and many businesses cannot running well as usual, and they wait for a while for the next good news. But maybe there is another reason why the price still drops today, and we don't know what is all about. Some traders get panic to see the price drop again, but the other traders see another opportunity for them to buy more bitcoin.

Actually, I am not sure if this is the effect of the Corona Virus. We can just say that it is because the value of every coin drops when Corona Virus happen. On the other hand, maybe whales are just manipulating the value of the coins and trying to prepare its value to the halving that is about to happen.

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

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

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

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

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

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

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

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

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

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

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

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

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

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

It seems to me that coronavirus has affected. Because because of him there is a global crisis.

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

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

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

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

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

Some people are saying that the decline in the cryptos market value has relation with the widespread of the corona virus. It somewhat has a point; the virus is now negatively affecting the economy of many countries, some establishments are forced to be closed and activities are restricted. I do not really know how it exactly affects the prices of the cryptoa but, all i know is that the economic situation reflects to the prices of cryptos as we have seen before. So maybe, once things are showing signs of positivity, same thing could happen in this industry as well as to the market value of cryptos.
Well at first, many people believed that corona virus do not affect the market price of cryptos. But the moment situation regarding to the said virus became worse, being a problem to many countries across the globe, there was a sudden decline in the market price of cryptos. In bitcoin, I think it fell down as much as 46% as what I have seen in Coinmarketcap. Hoping for better things to come because it really is sad seeing how the market struggle to make a comeback.

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

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

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

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

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

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

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

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

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

Even when our ecosystem was crash what can do cryptocurrency in the time of virus. Investors just worried about their money so they wanted to be protected money. Without coronavirus all news is good about cryptocurrency. All coin price is going down but price is increasing of our needed product.

That is because there is a demand on our needs but I am not seeing it yet now, at least at this moment the government were still able to control the situation, what we are seeing for now is just a panic, people are overreacting and the measures as well so this results to our economy down at the moment.

However, I am pretty sure there's still demand on crypto, people should not be scared, it will not die as they are thinking, it's set to recover as soon as the vaccine is discovered, what we are gonna see next, is hopefully a panic buying.

It all points to the virus spreading like wildfire across the world which is putting everything on standby; not only is the crypto market affected but every other businesses or markets both online and offline. People are finding it hard to contain their emotions, fears, sentiments etc which is then leading to further dump in various markets and as no cure is currently out it is only but fueling the whole situation. We can only pray a cure comes as fast as possible so that various markets, activities, conferences, etc can adjust, kick off and the world can as well return to normal.

What happened in the existing capitalist system of management — crises happened. There are objective reasons - the coronavirus pandemic, the decline in oil production and consumption, the global recession; and subjective, man-made - the exit of the Russian Federation from the OPEC+ agreement, panic in the media. Bitcoin and other cryptocurrencies are derivatives of this system and are evaluated as risky assets, which it is customary to get rid of in difficult times.

The vaccine))) again this vaccine, why isn’t anyone so intensely looking for a cancer vaccine? And by the way, people die from it, too. All this is nonsense and manipulation. Since all the screams about this virus are so loud, it means that someone really needs it. And most importantly, the louder they shout - the closer the bottom))

The panic in the world has not just affected crypto but other financial market. This panic is caused by the Corona virus,ever since the start of this virus ,so much panic, this did not leave the crypto world out,so many are dumping just to get out or converting to stable coin to wait and see the turn out of event,all that have contributed to bringing down the price of bitcoin,and altcoins are not left out.

What I saw that dropped the downturn in the price of cryptocurrency is the amid coronavirus which was said to be a pandemic, thus has been in the mind of individuals who holds some proportion of cryptocurrency most especially the Bitcoin. Those who holds these cryptocurrency were panicked and later embarked in a large scale sell off from their weak hands. This actually made the cryptocurrency market dropped down beyond imaginations as this type of dropped happened in 2013, when the price of Bitcoin dropped 50%. The only thing the community would have do to Savage this situation would have be never panic sell your portfolios.

There is no reason except the coronavirus! Just saw the news that Italy has new 250 deaths in a single day, and total death count 2900+, US stock market declined by 9%! So can you imagine what's going on! WHO already announced Coronavirus is an epidemic! So, crypto has Corona effect too, people are selling their coins heavily to buy food and stick on home! So, we are not going to see an uptrend very soon!

We have to search for the reasons if the price drop occurred only on crypto market but everything is falling including gold so the reason for this fall is not too much hard to find. :)

Just because of Covid-19 aka Corona Virus.

Right, at first, Coronavirus did not affect on the crypto market, rather price was increasing gradually. But suddenly the market crashed badly because Coronavirus is affecting in every country, so no one can't hold,/trade crypto instead of buying products to save for the future! You said the truth, most of the people are converted their crypto into USDT to avoid the market dump!

Your are right but, the deep created by cryptocurrency cannot be compared to others like gold and metals from the general market. We have seen before SARS among others pandemic but never affected the cryptocurrency, gold and metals as we have seen few days ago. This made me believe that, there's more to this drastic and dynamic fall from cryptocurrency.

In my.opinion, panicked investors were responsible for the outbreak of the crash which lead to total downturn of the entire markets. The panic sales make this deep on cryptocurrency because of it volatility among other things. I "strongly believe in the effect of panic sales"

I feel is the current virus situation in the country. The virus affected both stock market so it's a serious issue. Many people at if fear sold off tokens and less traders I feel so. But once there is solution to this virus everything should bounce back. J trust Crypto and I am sure things will certainly normalise soon.

As most others have said, there's a number of different reasons for the drop but coronavirus just happened to be what set the ball rolling downwards, though one of the more unfortunate things about the whole situation was that it occurred right as Bitcoin was rising towards $10k and $11k again. People got fearful of their investments and/or needed to use some of their invested funds, so people started exiting the markets and things snowballed into a large dump as fear started driving market activity and still is driving market activity.

The great amount of fear that likely led to this rapid decline makes me personally want to invest heavily into crypto again, but I'm still continuing to dollar cost average as normal as to not catch a falling knife. We've sunk a ton but I believe there's still a possibility that we could go lower still if the situation worsens.

One of the greatest things that can bring that a market faster than light is Fear.  People panicked just when the heard that the Coronavirus outbreak was going mega in Italy. I mean, It was literally rocking Italy and around the same time, Trump made a public announcement that wasn't encouraging. That's the logical reason for the dump.

Whether this is the last drop is still unknown at moment as the  number of death persons have increased by over 100% since last week.

We hear everything later when cryptocurrency plummet. Now only reason we are seeing Corona virus problem. India lifted banned from cryptocurrency exchange, India is very population country. Bitcoin halving time is also neear but our economy situation is very bad for Corona virus.

The price dump of crypto is a clear result of corona virus causing our global economy crisis. People have panic on how to prevent themselves not to be infected with this virus so majority of the people have sold their coins for fiat so they can prepare for the worst consequences that corona virus will cause.

Actually, while the Coronavirus attack, the oil price war of Saudi Arabia and Russia has been started to explode at the same time, So it is obvious that not only a coronavirus is the reason of the new drop, the dispute of this both countries over oil prices is also the second reason for the collapse.

true, the decline in the price of altcoin is not only a result of the corona virus effect but from the current trade war, this is the same as last year the price dropped but after that the price began to improve again, and now the price returns to last year, so the current decline must be utilized with buy some altcoin

Exactly,corona is just a trigger for the fall.Oil prices and stock market historical losses made the investors to switch on their panic mindset and started to sell everything quickly to make lower buying opportunities.Today we are moving against the stock market prices movements so its really good to see people are turning towards crypto currencies to save their wealth.

I think everyone was surprised by the prices of gold and oil because this has not happened before. And I think that Bitcoin will still fall below $ 4,000. I won’t rush to buy Bitcoin yet. ;)

Maybe you predicted it wrong? :D

Prices continuously going against stocks for the past 2 days.Don't rush but done's expect it to go lower and lower all the time.

I think 2 days ago the price of cryptocurrency fell due to the influence of the corona virus which spread so fast that it made many investors and traders panic so it had a bad impact on the price movement of cryptocurrency.

They trying to save their lives by cashing out their investment in crypto to buy some goods to make sure everything will be fine when they are getting quarantined in their house. I think they are feeling panic caused by that. Some times when we are seeing people are feeling panic caused by the pandemic and that's a usual thing that will happen anytime if the situation becomes worst and worst every day.

Fear due to the virus spread caused the prices to fell and also gold,stocks everything fell down due to this panic attack but now people realized that this is good time to invest on the crypto currencies and other traditional things since prices went too low so we can feel there is uptrend in the market a bit.

Got to love TemTum it only dropped from 15 cents  to 14 cents....meanwhile BTC is losing a 20% from today's high!!
So glad it isn't all bad news on the market right now.

There is a dilemma about this situation. People say that stocks went down because during this pandemic companies will not make money, however they also say people withdrew their money from everywhere. So, if people withdrew their money, and everything went down in price, what did those people use that money for? I mean is the whole world staying in cash right now?

Is everyone literally just took their money from ATM and put it in their homes waiting for something? I doubt that is the case, so where is that money? We are talking about something tangible here, we need to be able to see where that money went to, it must be clear. I am still confused about it but I am sure one day we will see them all. One day something will start and everyone will start to use all of that money again.

Di you not heard from various sources about the presence of a virus that has plagued the country in the world ?? economy is now so chaotic that it has a negative impact on world trade. but easy easy all this will be good soon and the price will return to normal. because this is hope for all of us.

We will continue to believe despite all these trials, crypto market is a well tested market, especially bitcoin.
This is not the time that we all should panic, instead, let's stay compose and see the opportunity in every situation, the humanity will survive, so as crypto.

the effect of this virus really has a huge impact, and it not only affects crypto, but most people also lose their assets from their business. however, this decline is due to panic selling, it's just that I think that lockdown, or staying at home will make people look for alternative income, and that will lead to crypto.

i think its because of the economy issues, and covid-19 because of this the world is panicking and don't know what to do, hoarding of supplies that is needed, certainly give a big blow not only in the economy but also in crypto currency, since companies will not have a work during this times, i think the people with crypto en-cash their holdings for their family because at this moment that is their priority, there are some factors but at  this moment that i one of the major reasons.

This COVID-19 virus the been the main reason for the recent world economic turmoil. People were got panic in buying foods and supplies for the lockdown and they will in need of cash for their emergency funds. We can't control those investors to sell their crypto even at lower price as they will secure first their family needs while in quarantine mode. Anyway on the other side, this will also give a chance to buy at lower price if you think that this will not go more to the bottom.

There may be a number of reasons for the price drop in the world market. If I were to say it precisely, that would be a price reduction, bitcoin halving coming soon so far these are reason behind Caused the New Drop Of Crypto .
I would evaluate it another way because many deposited the majority of their wealth here on investment basis but did not see any profit, some others reason . The corona virus does affected crypto, but also an economic decline in other countries specially the 1st world country is in economical stake, however, It's because of Coronavirus, crypto in volatile pain!

There have many reason for this kind of inconvenience that called market price fall-down. One of them is corona virus, the country of the china is more essential for financial supply to the whole world, at the time the many more county are have been away from product exchange so that reason i think the crisis is create for this. But its improving to get along with the new wave of rising .

China now plays an important role in the world economy. Trade and manufacturing in the world depends a lot on China, so that when China experiences an extraordinary event, the whole world will feel an economic slowdown

In the crypto world something like this can already increase the price of it all depends on the market and the news that has been scattered about the crypto world, perhaps currently the price is going down then that's the influence of the negative news spread so also the opposite, and now we can see the state of the market has started to recover and the price of Bitcoin and altcoin back increased.

Most time people take profit when the crypto price pump and thereby reduce the price. This is what is called market correction in some cases. However, the drop in price is not that bad if you check how much and the rate at which it drops. The next crypto run might see bitcoin above 10k even though halving is still very near.

I fully believe that the reason for this kind of decline in the crypto market or its price is because of the particular disease and economic , business and industrial lowdown  . Because of this, the economy is controlled a lot by the corona disease. Hopefully it will recover soon .

Each of the reasons that have been raised here as a reason for the decline of the coin market is logical and acceptable. As a result, we can easily understand what causes it. So, I would like to identify the reasons and find a solution. Thanks.

By now we already know what is the reason by this sudden drop of the price, it is because of the Covid-19 pandemic. And not just crypto but the whole traditional market also went on a downward spiral. So it is a scary sight to see our portfolio going down. By just in short amount of time, the drop turn into another bullish signal and then we recovery slowly in the next two months and here we are today. The price of most altcoin is where it was prior to the decline. So for those who have panic during March 13-14 are regretting their decision to sell-off because of fear and uncertainty in the market.

I think the reason for this disgrace is to not get a share of anything profitable. The main reason is that the market is not going to be profitable in the current year compared to the previous last year, so the investors are chasing.