Coronavirus is ravaging a large portion of cryptocurrencies. Is this permanent?

[conected]

As you all may know, Corona is heavily affecting the crypto market, however, do you believe that this is permanent, or will the effects be seen for the next 3, 6, 12 or 18 months?

Well, it is really true that Corona virus really affects different cryptocurrency, which makes it to be dumped, but that is really normal thing about cryptocurrency because we all know that it is volatile, which means it changes its value day by day or even seconds by seconds.

It will not be permanent for sure, bitcoin can pump again in some other days, bitcoin is really used in this situation but it is still bouncing back to high value.

- Corona's influence on crypto is probably just a small part, it's not a devastation so big as many people think because crypto has had a great year, adjusting to expect higher prices is what crypto should do, the recent collapse is a correction, the virus was just a coincidence that appeared at the same time with correction, making the market a bit worse but in general, the price was still stable as planned. There is no permanent and irreversible damage when the government will gradually solve economic problems, which is obvious when the price of bitcoin returns in the previous days

[lienfaye]

As you all may know, Corona is heavily affecting the crypto market, however, do you believe that this is permanent, or will the effects be seen for the next 3, 6, 12 or 18 months?

Some of us are worried about how the market will be look like after few months and this kind of question often ask to crypto enthusiasts of investors that has doubt about the status of the market.

Well its not a permanent scenario however we cant certainly predict the market on the next days. I think one thing is for sure, if each country already overcome this crisis everything will be back to normal and its same for crypto market.

So dont panic and wait for that moment because it will surely happen but with no specific time frame.

[aemma]

As you all may know, Corona is heavily affecting the crypto market, however, do you believe that this is permanent, or will the effects be seen for the next 3, 6, 12 or 18 months?

Am human so I can hardly predict but however from my own opinion and how things are working out, I would say it is not permanent. The reason is this, this particular virus is causing a devastating effects on the entire world to the extent countries are now imposing stricter rules to curtail its wide spread. Therefore with the current situation it is possible to assume that every country is taking steps to come up with a cure and at this rate, that shows there will be cure and this virus won't be permanent. With the virus gone or with the announcement of a possible cure for it, there will be a huge price turnaround in the crypto market as well as other markets while taking into account that emotions is one of the traits of the crypto market.

[PANK21]

As you all may know, Corona is heavily affecting the crypto market, however, do you believe that this is permanent, or will the effects be seen for the next 3, 6, 12 or 18 months?

This is not permanent! Im sure of it. Once the corona virus crisis has ended this will all be back to normal or even better. Obviously this crisis will affect the crypto market and all the people using cryptocurrencies but that doesn't mean that this will be permanent. There are no crisis that lasts forever and this will be all gone after some time , maybe 6 months or so. I think we can all agree that bitcoin will rise up again after this crisis is over.

[Samayuki]

This virus can't be permanent for sure but it will do unspeakable damages if no care is detected sooner, many will be forced to sell their coins to sustain and this will bring more damages

[Vishnu.Reang]

You guys need to be patient. This was the same sentiment we had in 2014/15 and even in 2018. A lot many of the analysts and experts had written off cryptocurrency back then. But it came back strongly. If you remember, those who invested in 2015 got almost 100x returns by 2017 December. Even those who invested in 2018 got more than 4x returns in a few months. Just be patient, and another pump may be just around the corner.

[mdzahed134]

As you all may know, Corona is heavily affecting the crypto market, however, do you believe that this is permanent, or will the effects be seen for the next 3, 6, 12 or 18 months?

COVID-19 is the biggest obstacle to sustain on the majority of countries specially jobless people's. Not exactly, you can't specified by timeframe but it's almost sure this pandemic period will not recover very soon as far as medical science reports, at least in the year we have to face the difficulties.               

[BRODIN]

not permanent. provided the corona virus outbreak can be resolved immediately. but as we know that some countries affected by the corona outbreak began to recover and the people were able to work again. so I don't think this is permanent

[Shallow]

As you all may know, Corona is heavily affecting the crypto market, however, do you believe that this is permanent, or will the effects be seen for the next 3, 6, 12 or 18 months?

Comparing Corona virus then and now, there is no reason not to believe the crypto space is regaining not too fast but slow and steady. What to know is that, this virus didn't only affect crypto market but other markets so the dump in crypto market was understood because there was panic , anxiety, fear etc everywhere in the world and the market reacted as such but nowadays there is a turn in the market hence the reason there is favourable market and good growth. So to answer the question, I don't think it will last long, because people are already adjusting and doing their thing the way they want. Lastly, this virus is a world problem and all will be done to ensure there is a vaccine sooner than later.

[key4co.in]

not permanent. provided the corona virus outbreak can be resolved immediately. but as we know that some countries affected by the corona outbreak began to recover and the people were able to work again. so I don't think this is permanent

The corona virus effect has reduced in crypto market, right now the effect is almost negligible compared to March. If things go back to normal, maybe after a medication or vaccine is created to eradicate this pandemic, we won't have any reason to fear uncertainty of what effect the pandemic will cause. Obviously it's not a permanent effect, but I believe the crypto market will do better if there are no pandemic tensions globally. Imagine people who lost their jobs due to the virus, selling off a reasonable part of their crypto holdings to take care of themselves.