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I think the price will pick up. The reason why the price if falling is due to the continuing panic sells which I believe will reduce ones the result of the clinical trial is released. One there are drug that can fight the virus and the pandemic is defeated, I believe the price will pick up gradually. The only issue is how much effect will it have before the vaccines are developed. The price is dropping continously and as I am typing this message, the price has dropped below 5k
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even though the coronavirus pandemic might have a great impact on the price of crypto due to panic sales but nobody expects to see the bitcoin price go below 5k. This is another evidence that the price of crypto can go any side. The same coin that went 9k a few weeks ago. I strongly believe the coronavirus is not the only factor responsible for the dump but let us wait and see. The first clinical trial result of the vaccines to treat the virus will be made public soon. hopefully, it works fine
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You have the right to decide whether to stay or leave. Many people have also abandoned crypto due to massive loss and they have lost faith in crypto while some other people are also hoping one day, things can turn around and maybe they can be a millionaire. Whatever the case may be. I will not stop believing in crypto even though I have stopped investing in new projects and always look forward to the long term interest
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I could fiat die when each country have their fiat currencies and there are rules and regulation on the trading of individual country currencies. No matter how things get bad, I do not think crypto will ever replace fiat but rather serve as a rival if the rate of usage of crypto increases exponentially.
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Banks are known to be enemy of crypto since from onset. They hate competition and things that might be revealing their cons and this is the reason while they see crypto as their competitor. It is a great move by the india court making them realize that it is unconstitutional. I strongly believe they might go far as banning and suspending customers account that trade or deal and recieve money from crypto exchange service to their bank and this might further cause sanction if they do that
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I strongly believe it is partly due to panic sell and also the whales have hands in it. According to statistics regarding the spread of the disease, the Europe has been termed as being at the center of the ravaging disease and this is important because large numbers of people hodling crypto are based in Europe. crypto hodlers in such countries such as Italy might have make panic sell of their asset
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I don't see much connection between Ramadan fasting and the corona virus. People are grasping at straws looking for reasons to panic now.  The fear is totally overblown. Testing is now revealing lots of asymptomatic cases which suggests the mortality rate is significantly lower than previously thought. The corona virus is hardly more dangerous than the common flu. Even though people now expect the worst, I think our "return to normal" begins soon. From a TA standpoint, it's currently a tossup. We haven't exactly confirmed the 200-week MA as support yet, or formed a reliable V-bottom. If/when that happens, my mid term outlook (for the next few months) becomes neutral-bullish: https://bitcointalk.org/index.php?topic=5196072.msg54020305#msg54020305It might be less dangerous than common flu but the rate at which it spreads is too fast and that is part of the reason why WHO has termed it to be pandemic. I see the connection between fasting and the virus because people fasting might be at high risk. I want to believe during fasting, Muslims consumes a lot of fruits, vegetables, and dairy products and by the way, just like the op has stated the immune system will always be weaker which means there might be high mortality rate for some that contract the disease during the period |
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This corona virus is starting to collapse the economy of a country that has been affected of this virus because a lot of productivity has been stop and there are a lot of people are stating to hoarding since there are lock downs in their places. Fiat currency is a physical object , so it is possible that the virus could be pass on to another person, that is why there are countries who avoids accepting physical money for their own sake because you can't really say if that money has been touch or not by an infected person.
And this makes e-currencies the best option because no direct contact like fiat and it is also fast. I heard some banks in Czech republic are encouraging bank transfer and online payment directly for purchases of goods and services in order to reduce the chance of contracting the disease which I believe it is very good. I think the op is generally talking about the effect of increasing budget deficit on fiat compare to fiat but also the pandemic has effect of crypto |
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whatever could have happened, I think this is the right time for anyone with fiat to buy crypto and be certain to make some cool money after the coin recover. The price of bitcoin is around 5.2k and it as being in that for a while now meaning the current price is at its deep. Hopefully, coronavirus cure is discover soon and we will not have many waves of panic sellers again. Although there has been debate that the whales also have hand in the current price slip
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Permanent ? you mean corona? if you are referring to coronavirus, the WHO has revealed that the virus which is previously described as being epidemic is now pandemic. However, by the end of the Month ( i.e. March) the first phase of the result of drug trial will be out. Hopefully, we get the cure soon. If so, crypto might experience an increase in demand which make the price to rise
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They did the same with Nigeria by supporting Naira fiat with pairing with BUSD. I think Binance has consistently supported many individuals in different countries and they are at the forefront of making it possible for anyone to buy their local fiat directly. Just a few days ago, they announce the support of buying bitcoin instantly with visa credit and debit cards. All these are what make them the best exchange in crypto space.
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Crash keep crash without get explanation about why or how to resolve and make bitcoin back to higher price again, now many people always hope bitcoin can give surprise for investor by going back to higher price and give the moment with bitcoin in 2017 can reach above $16,000.
That is the dream of most long time hodlers. You can imagine how many topics are created when the price went up to 9k. Nobody knows the price will be massively dumped. Just the time we are all in the middle of the crises. Nobody knows when the convid-19 will finally be wipe put if we finally can discover the cure. But the big one is how, when, how long, how much will the bitcoin ever rise again |
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Bitcoin is created for a faster and cheaper transactions, this is my thought. On a daily drops yeah and we are all shocked because of that, but we should remain calm and be positive. Bitcoin proves to us that its not a totally a safe haven, this is also a big question for me but still I believe on the process of bitcoin and I know it can happen again one day.
It has never being a safe haven right from the start but people always wanna make it look like their owe life depend on it. I still believe those people that hodl bitcoin right from the beginning till date will not feel the impact of massive fall. Bitcoin has been an asset that no one can predict its future and this is part of the reason while many people still think it does not meet the requirement to be independably use as a currency. |
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You actually did not give strong reasons why cryptocurrency can't replace fiat currency. Cryptocurrency can actually/theoretically do most things fiat currencies can do, but I doubt typical fiat currencies can safely do most things cryptocurrency can do with losing their centralization. Besides, government can run their fiats on Blockchain or other real decentralized system.
Crypto could actually work better in rural areas than fiat, even without relying too much on the internet. But I believe safe/crypto-friendly worldwide rural internet coverage is a possibility in the future
You have not given convincing reasons why crypto is better than fiat. I suppose you know billions of people are still unbanked not to talk about thousands of billions of people that do not even know what crypto is not to talk of using it for making the purchase. Even a mad knows fiat when he sees it on the road. Rural areas dwellers that do not have access to the internet so how will they make use bitcoin ?. Do you know there are still millions of people in Africa that do not have access to the internet ? |
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I suppose you know in countries that have not legalized the use of blockchain technology cannot adopt its use in an election. I believe the technology could be the best especially in countries that are known for massive rigging because I believe one of the features of them is an inability to manipulate data ones a smart contract is created and it could be a fastest and not too expensive way of voting.
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When i was new to crypto i didn't know much about wallets and i used to store them in exchanges and it was a low quality exchange and my account was disabled due to which i lost my bitcoin , that is exchange dont even exists now , now i have much experience and wont do any foolish things and trust anyone
more like those new exchanges that turn to be a scam. I had similar experience too but wasn't bothered much because of the coin that I have on the exchange worth less than $10  . I believe wrongly on the exchange thinking it will be a good exchange and possibly one day be like Binance BNB token but it was not. My own experience is losing $50 in my bitpay wallet. My phone memory was full and I was prompt to uninstall some app but I mistakenly marked the bitpay mobile wallet as part of the app to be uninstalled not knowing I did not store the seed phrase. It was painful |
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It is hard to say such information you provided up there might not help crypto. There is not the first time the crypto time will befall. It has not even reached the all-time low rate. The issue is that ones the price of bitcoin increases, most people will always think that is how it will continue to grow, not factor in some specific drawbacks such as the effect of Ponzi scheme and the highly proclaimed coronavirus. Crypto will certainly recover. It is high time to buy more.
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This is the reason why I always say that the blockchain technology is evolving and there are still many things to learn. Nobody could boldly tell you he/she knows everything about it and this is the reason why some that have look for a bad side is developing an attack that could steal information from the target and gain access to an individual crypto wallet. It is very unsafe to keep information that can lead to getting access to your wallet on your devices and installing anti-virus such as malwarebyte is a good thing
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I heard the sudden fall in price was due to a loss of around 15k BTC in a scheme. I think the fall is not that significant because this is not the first time we have witnessed this before. Even sometimes it was tougher than this and it is only a matter of time before the bitcoin and other cryptos will recover. I am very optimistic the fall in price has opened a way for some people to acquire more crypto. Almost all the top 10 cryptos have dropped to at least -10% which is a good time to buy.
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8k retweet is not really big. I guess you are saying this because of the little experience you have had in crypto. By the way, I do not think airdrop should be considered as good means of livelihood anymore. You have told us how many airdrops you realized but I much do that translate into if converted to dollars. To cut the story short, selling bitcoin half of the price is a clear indication of a fake project. sorry for the waste of time and energy. I suppose only gullible individuals will fall for the scam.
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