Bitcoin Forum

The Coronavirus Pandemic is global. It’s everywhere and the impacts are being seen in every industry, worldwide. All the trading markets, including the stocks and mutual funds, are seeing a tremendous drop because people, as well as businesses, are greatly affected by the ongoing pandemic.

The crypto industry is also not untouched by the effects of the coronavirus. In the past week or so, we have seen many popular cryptos like bitcoin and ETH drop in value.

So, what does this mean for the crypto industry at large and how will it impact the future of cryptocurrencies, projects, companies, and investors. Let’s try to find out through our analysis of the cryptocurrency market during the Coronavirus pandemic.

Coronavirus Impact on Cryptocurrencies


Crash in Stock Markets

One of the major impacts of the ongoing Corona outbreak is being seen on the stock market, where the price of almost all the equity shares/holdings has dropped drastically in the past weeks. The debt funds are also not doing so well. The same behavior is being observed across the stock markets of all the countries. This is likely to have an impact on the finance industry as a whole.

A temporary drop in Crypto Prices


In recent days, we have seen a big drop in the price of cryptocurrencies across almost all the exchanges. The reason is simple, people and businesses are too busy dealing with the COVID-19 pandemic that they have no time to focus on cryptocurrencies, which has caused a drop in the demand and therefore price. But, this is not anything unusual and something we haven’t seen before. We know that the prices of cryptocurrencies will be back as soon as the market is back on its feet.

The Corona pandemic has affected the economies of both developed and under-developed countries alike, all of which are now struggling to keep going. Therefore, it’s only natural to see a drop in the interest in investments. But, as we know, the market will be back soon, and so will cryptocurrencies.

Good News for Cryptocurrencies


Amidst the ongoing global pandemic situation, there has been some goods news for crypto enthusiasts and investors. Since the stock market is dropping, more investors are now attracted to crypto investments. Since cryptocurrencies are digital, they are not severely impacted by this outbreak.

Now that people are at home and have enough time on their hands, they are spending time learning about cryptocurrencies, blockchain, and other related things, both as a way to improve their knowledge and become a better crypto investor. So, the interest in cryptocurrencies has certainly boosted due to the Coronavirus pandemic.

Another good news is that since the price of many major cryptocurrencies has dropped recently, this is the best time to invest in cryptocurrencies and projects. For instance, you can now buy the Titan coin (http://titanprojects.co/) at a lower price than ever before. And we know the coin will be back with a bang, so you can be assured of huge profits.

Crypto Legalisation


Among other things, the movement to regulate cryptocurrencies is now stronger than ever. With India and Korea taking important measures to not only legalize but encourage crypto trading, it is only a matter of time when we see more countries joining the crypto innovation.

you said it is just a matter of time for many countries to legalize bitcoin, but that time could be 10 years or 15 years from now. look at actulity, how many countries do you listen to legalizing bitcoin a year? countries only allow people to use bitcoin with some restrictions, but they do not talk about legalization, they always talk about a bill that hardly comes to fruition and this is because for politicians this is a less important issue for them, I can bet that most of politicians don't even know what bitcoin is, maybe they should have listened to it less than 10 times each year

This idea about bitcoin cryptocurrency has been very hard to fulfill when it comes to legalization. However, there were different countries adopt this system, and enjoyed the comfort it has provided to everyone who've been able to experienced positive outcome. I don't know yet what will going to happen after covid challenges would be surpassed, but what's certain for now is cheaper value can be acquired after market has declined and going to recover soon.

How did you know that people are now attracted or seeing potential in crypto? Is there a statistics that shows that marketcap went up when this pandemic started? Well, it did the other way hence it followed the stock market. Hence, crypto is a good alternative and yet, there is room for profit for large investors.

With this case we have right now i dont think there are people will buying crypto currency, you will only do this if you are rich and have more money to use for investment and you choose to invest in bitcoin and crypto currency since its not so much affected with prices unlike stocks.

If you are a normal employee you will never invest your money because you know you are the one who need it most at this moment so investing is not your main priority but foods and other possible expenses.

Nothing gets that easily legalized in the world, look at weed for example, it has been illegal in many countries and still is illegal in many nations but nowadays there are a lot more nations who are actually making it legal, USA was one of the nations who had "war on drugs" that spent literally billions of dollars, maybe close to a trillion dollars to this day, and weed has won, it is more and more legal in every state, since federally they do not have a law that can stop the states, states will continue to legalize it by the day.

Crypto is just at the start and we are already supported by some countries, in one or two decades we will be supported by all the major and minor nations except just a handful few maybe.

I don't think the situation we are in now is about being legal. Many states put everything aside and focused on the solution of the disease. What has officially become the world's # 1 problem is the Corona virus itself.

I don't think states think of cryptocurrencies in this environment. Therefore, I do not think there is a problem with legality. But we can see that there are not big changes in people's preferences yet. People still rely on FIAT coins and gold.

Yes in most countries pro crypto rules are being made now it shows the wide acceptance and adoption for crypto across allthe important stake holders so we can safely say that the future holds a lot for crypto and it would be everywhere in couple of years.

I will touch on two points from OP's thread. The first is :
Temporary drop in the price of crypto for me had already happened in the early days of the covid-19 pandemic, I think around January and February. So my thinking now that cases are reducing now is for price to start improving more from what it has currently added.

The second point is on legislation. To this also, it is possible to see this happening since some countries or the world has realized that bitcoin can be a better source of financial activity in a time like this.

Well, you are going far to the topic, of course, all of us know about that, a normal person won't invest in this kind of time but we are talking about people who are capable of investing. I hope you understand what this means and anyway, stocks and crypto are far different since stocks already have the reputation and crypto for me is just starting to grow though it is there for years now so basically there is still room for improvement for crypto market.

You may be right that coronavirus really give influences in many sectors, especially the economy and financial sectors globally. We can see how the people in worldwide are looking for ways to get rid of this pandemic and avoid them.
aside from that, some newcomers may look at the cryptocurrency deeply. They are starting to learn what is crypto, how it works, and how it earns. However, this may not give a big influence on right now condition because for today, many people are still focusing on this coronavirus pandemic. Probably, it will be for next time when it has come down.

 I think that for now, many people are also selling their funds in crypto to be fiat in order to fulfill their necessities in daily life, for, they are forced not to work outside and they still need income for their life. Probably there are new investors, but not so many. However, yeah I agree that there will be more people who want to know and attracted to the crypto world after this pandemic.

With the current vandemic status all countries implement a policy of working from home. This is good news because everyone can access the internet at home and work at home. and crypto is the biggest part of business using internet media, such as trading, airdrop or mining.

The effect was already obvious as the crypto market was also affected to the pandemic not only the stock market. And as what I have notice you are only launching this thread to promote the Titan coin, I am not against the promotion but you should also put more details to your statement so others will not be blind to what is happening right now.

The good news for crypto investors are the steady increase of crypto price even if the pandemic is still there. The crash of the crypto market is pretty deep and I never imagined that it will happened in just a short period of time but the hope is still there as we are starting to bounce back a little. Stock market investors will not shift to crypto that easily as they are also waiting for their chances to buy back their stocks because the stock market will surely bounce back pretty big once the pandemic will be solve therefore I cannot see lot's of stock investors to shift into crypto investment right now.

I don't think that crypto legalisation is affected by this whole Covid-19 pandemic. Will the government see crypto as means to survived in this crisis by allowing it as cashless transactions? I doubt it, US has plans to issue their "digital dollar", but it doesn't sounds like they are going to legalised, let's say bitcoin (although it is not illegal in the US).

So yes, it could take 10-15 years before we can see actual legalisation. Because at this time, they are closing in all choke points like KYC, travel ban rule and FATF.

This is what Ive noticed. Since the virus destroy a lot of countries economies, there are country that step up to use it for their finance sector. Check out Italy allowing the usage of bank to trade bitcoin. Now every country seeing the potential of crypto as one of the best way to process money and finances due to its cashless system. Yeah that's what been happening right now. Each country stepping up to proceed and do what they need to do to fight this.

But these market crashes are inevitable. So what we can really do is wait for it to recover. Im glad that crypto hasnt affected at all or not worse compared to stock market.

with the ongoing outbreak of coronavirus, almost all stock market are collapse where the crypto investor's ability is out of focus and have bad psychological effects to their real businesses, eventually, the forest of the poor is also affected by this pandemic virus impact whereas sales of their products is nothing or stocks due to lockdown system bot, but practically this is not a real reason to discourage ourself it is all about lessons
 from the mistake and its hard to know the truth but we need to focus cryptocurrencies to help this situation both.

You are right Coronovirus has affected all the fiat industries and all the stock markets has crashed and the oil prices become lowest in history of Oil industry but Bitcoin remained at stable position and this is a good sign for digital currency.

Not just that thing, I guess people will have more opportunity to work at home, and they can get paid not only for crypto, but they can get paid with dollars. We know that the opportunity is not available in the crypto world only, but when you browse the internet, you will see tons you can use to be the way for making money. You can search for the jobs that you are looking for, especially if you have skills in some fields so you will have a chance to get more customer from all countries.

Definitely, COVID-19 has a negative impact on every aspect from stock market to oil industry and of course crypto currency as well all has been ruined. It is still unclear what impact the digital asset industry will have on the medium and long term, Now investors are looking more closely at their investments than before. I think this COVID-19 has disappointed us from the bull run...

Like anything else, covid would have a negative impact on the price of crypto in short time but it would be much more beneficial to crypto in the long term as people realize the need of global co-ordination and the disadvantages of both cash and fiat money. This would also soften various political stands regarding crypto regulations.

Moreover, people do realize this now, because the quarantine pushed most of the companies to be able to work remotely.
So the disastrous virus actually expanded comfort zone of many people and businesses so we should be ready for big changes coming in the game very soon.

at first read all i thought that this is  a concern thread about the effect of Virus but while scrolling down this is what i saw.

another Advertising of selling their Project and nice try,Mind to share if you are ANN thread?
because it seems that you are promoting your project just like this without any form of advertising.

I think no, most countries will be focus on to find some way to reduce the spreading of coronavirus. They will do anything like lockdown and quarantine territory will not focus to accept cryptocurrency for any matter. Also, I only see that if there is country who accept cryptocurrency for trading stuff that is doesn't mean the price of them will increase rapidly. It will just give an affect for the price more volatile then now, unless if there is a regulation for some countries choose cryptocurrency as payment system then I think it will give good effect for the price up.

The crypto drop is not 'little drop' like OP called it, whopping 3200$ is gone from Bitcoin last uptrending value, the pandemic affects crypto very badly, now that Bitcoin halving is coming Bitcoin price should be rising if not for the virus

I agree with you, Corona has caused the stock market and many other industries collapsed. But the crypto market is still stable and growing, which is a great signal because people are gradually believing in bitcoin and this market. They consider bitcoin a good asset and hold it

everything you say is true. all of the forecasts that we thought would occur when the corona pandemia continues. but we need to know even though prices continue to fall on the market list, it turns out there is a benefit gained by a crypto in the middle of this epidemic. This virus has caused the StableCoin to rise and appear on the surface in the crypto industry. one example of the more USDT we encounter at any exchanger. because when conditions like this many people think to save their assets in stable format to reduce losses during this pandemic. Indirectly, purchases also rise and their popularity makes them appear on the surface and many are listed on the exchange.

As I could understand from your post the only good news for cryptocurrencies now is the possibility to buy coins at lower prices. How can people afford to spend money on high-risk investments when the economy is crashing?

People are forgetting the fact that EVERYTHING got affected so it is not a wonder that bitcoin had a bad response to it as well. Why would anyone think that bitcoin is beyond all other investments that it wouldn't be affected by a pandemic nevertheless, I would understand if it was like a crays or a bubble burst or something but at the same time we are talking about a thing where it keeps people at home and scared, so I think bitcoin is not untouchable in a situation like this.

Maybe if we give it some time it will recover faster than all others, that way we can say that we are not untouchable but at least we are doing quite fine compared to other stuff as well. Being the fastest growing is usually more important than "not dropping" when everything drops.

I love the explanation you have made here, it’s very accurate. When the pandemic broke out earlier, it wasn’t a difficult moment for lots of Businesses and they were looking for ways to adjust and survivethrough this situation. So nobody had investment in mind as of then, even some people had to sell out of panic.

But despite everything that was happening, when I check some exchanges I noticed something and that’s that the buying rate of Bitcoin some cryptocurrencies kept increasing. It seemed as a lot of people saw this as a big opportunity, especially those who didn’t get to buy the assets when they were at a low price, so they had to jump on it now.

A bigger growth is coming, once this Halving is over there is going to be bigger increase.

It's nice to make dollars from home, but it's not easy to work at home. Bored and sometimes we have to look for entertainment.
For some people it is very boring at home, but for me this is common and exciting.

No, it is not easy because you need to search for the job that suits your skills. When you can found one or two jobs that can make you busy, then that will be a good start to make money from home. That will give a new experience for people who don't have the experience to work from home, and I think they can feel excited to keep that jobs, and they will search for more opportunities from the other client.

I don't see India and Korea utilizing cryptos yet as an alternative way of payment but I know that they legalized it already. Too bad that we're still in the middle of the pandemic and we don't have definite time of when would this end, but surely people would start to buy cryptos after this.
Kinda not surprised about the stock market crash, like anyone surely thinks of grabbing their money to buy their needs because they know they can just do freelancing and earn there instead.

Every market is presently affected, however, both crypto and stock have not seen the bottom and i do not think they will, despite the pandemic. The stock market in China is improving, while the general world stock is below where it was when the pandemic was not yet serious.
The cryptocurrency market is still fluctuating and it is not plunging beyond a reasonable doubt because investors are still buying. and traders are actively trading with the little fluctuations.

Atleast cryptos are already exposed with these two big countries so even if they are still not utilizing it, this will be a great start for crypto adoption in the next decade or two. If this pandemic will be over, hopefully we can hear from other countries too more on crypto legalization.

it is not yet clearly seen that the epedemic corona directly impacts crypto, because there is a possibility that it must remain at home, it can actually make more time available so that more time is more focused on crypto. but there are also those who don't want to think about more complicated problems with crypto because they want to be more relaxed because of the fear reaction with this epedemic corona. what is clear is that the world economy is clearly devastated as well as the stock market, maybe those who are accustomed to the stock market can be more comfortable now it's time in crypto because for them crypto can be better.

indeed it is very pleasant working at home we don't have to be outside and work at home is also quite relaxed in my opinion, but many people still do not know about work at home, many people complain because they cannot work due to this virus that is plaguing it, and many people also do not know about what is online business and how

It's effect is going to be long lasting if we cannot find a cure or vaccine for Corona virus but it's effect is going to stopped if we can read more news about vaccine, right now it's getting worse, as the world condition worsen so do the market, it can only get better once we find a cure for this pandemic, that's the hard truth.

I think the good side for cryptocurrency is people interest to crypto. The problem is so hard to find a real project and it can be influence new investor. At least cryptocurrency gain new people that interest on it. I hope this pandemic will gone soon and every market will recover.

I do not care about the situation now although the current is happening corona virus outbreak across the country but the effects on the crypto world do not affect even the current value of Bitcoin and altcoins start to improve and this is something we expect, and the legality of crypto in a country has not been so great that it supports but if it is not a problem then it can still be.

It is not necessarily good for cryptocurrencies, if covid-19 is not prevented soon, countries may apply stricter blockade measures, miners and projects will also be affected.

Pandemic just bring panic sell for a short time but that will not make the price will be on the bottom price for a long time. As you can see that if the popularity of stable coin and bitcoin were growing a lot even this day the central bank has already warned all of banks about the possibility for crypto to replace fiat.