60% Wiped Out - Will Bitcoin Have a Hard Time Finding Investors After This?

[The Sceptical Chymist]

vaccine is already in trial phase as we speak. and there are quite number of institutions and pharma companies that are into developing the vaccine.

That might be true, but it's still going to be months until one hits the market even if a successful vaccine gets developed.  And having a vaccine won't instantly eliminate all this fear and hysteria that's crippling markets--and I wish I could confidently estimate how long it's going to take for bitcoin, stocks, metals, and everything else to bounce back, but I don't have a clue.

With respect to the topic of this thread, I would say the recent slump in bitcoin's price represents a great buying opportunity for anyone who wants to own it.  Plus I'd say that there seems to be some support that's keeping bitcoin from falling ever further than it already has.  It's above $5k as I write this, which isn't all that bad if you think about how bad it could be.

Then again, the worst may be yet to come.  I'd like to think that won't be the case, but it certainly could.

[Artemis3]

Bitcoin doesn't need investors. A good currency has very little investment. Bitcoin will have succeeded when nobody wants to invest in it anymore.

All i see now is cheap bitcoin waiting to be bought, especially now that the Chinese giant is waking from its slumber...

You say this is a test, the test has not finished. When it gets obvious that it recovers, you won't get a chance to get in, it will be too late.

The global economy might or might not recover as quick as bitcoin, but it doesn't matter, they are not really linked. I'm guessing many people were selling to buy other things, that won't need anymore once the virus is gone.

If you want an answer to the question, then the answer is no. Plenty of people worldwide consider bitcoin too useful to let it pass. And China, the first country that went to sleep, is now the first to wake up...

[btcholder]

Andreas Antonopoulos warned us about an imminent bitcoin crash two months ago. BTC Twitter tries to keep their spirit up with humor and pain sharing:
 
https://www.cryptozink.io/coronavirus-panicking-leads-to-bitcoin-crash-60-percent-in-hours/

The straight answer is no. This is not just first time bitcoin or crypto currency facing hard time. Remember what happened Q1 2018 but after all drama market was starting moving forward which was continued before this fall. So there is no suspicion that btc will rise again. There will be lot of question in our mind if only crypto currency market fall this moment but  you can see every single marketplace are fall apart because of corona. So after all this drama btc or crypto currency or every market will be rise much properly. And there is plenty of chance btc will bump too much during the halving. So investor will love to invest on bitcoin for big profit.

[squatter]

How many people invest in dollars, or euros, or yen? Not many, yet that doesn't seem to affect their values. Anyway, only the investors care about the price and investors aren't needed.

Holders of any currency care about the price, or purchasing power. I know multiple people living in the UK who avoid holding any of their savings in Pound sterling, because of its weakness over the past decade or two.

vaccine is already in trial phase as we speak. and there are quite number of institutions and pharma companies that are into developing the vaccine.

That might be true, but it's still going to be months until one hits the market even if a successful vaccine gets developed.  And having a vaccine won't instantly eliminate all this fear and hysteria that's crippling markets--and I wish I could confidently estimate how long it's going to take for bitcoin, stocks, metals, and everything else to bounce back, but I don't have a clue.

Nobody has a clue.

The Chinese government has been testing a Japanese flu drug on COVID-19. They say it's clearly effective and safe. It's not a vaccine, but it offers some hope on the treatment side.

[barumbado]

I think no.A stable currency like btc whatever happens wont get hard to find investors.Bitcoin has proven its worth as a currency.

[Viscore]

I think no.A stable currency like btc whatever happens wont get hard to find investors.

Bitcoin is not stable, it maybe a strong currency but it's not stable.
People say that investing in bitcoin is like investing a high risk asset, that would explain why its not stable.
We can lose our money here and on the other hand, we can also make more money here, this is a gamble, we invested because we believe even without assurance that in the long run we will be profitable on this.

Bitcoin has proven its worth as a currency.

Agree with this based on my personal experience using it, I can use bitcoin in gambling and buying stuff online, so anyone can do the same.

[Welsh]

Same way people can't give a valid answer when btc rise in price is the same reason why no one can give a valid answer to your question, i guess the only valid thing to do at this moment is to wait and watch, this dump has been attributed to various reason but nobody can say for certain what is the cause, so asking this same question all the time won't help anyone, the dump has already happen, what is left now is wait for recovery, btc will definitely recover.

There's plenty of valid reasons when Bitcoin goes up, and down. Its not random, and is impacted by world events just like any other currency. However, just like other currencies finding out what the actual cause is, and being able to validate claims is almost impossible. Causation is something which is studied in a wide variety of fields, and its uncertainty is no different in Bitcoin. I'll be honest, it seems that you probably don't have a grasp on what the possible causes could be, and making a statement such as "Bitcoin will definitely recover" without actually knowing why that is the case isn't a good idea. You may have faith in others who do know, and that would be totally valid, however Bitcoin like anything in this world isn't guaranteed to recover. Do I think it will? Yeah, but I couldn't put a time frame on it, as we haven't been in this situation before. All world economies are shot, and will be for a while after the current pandemic. Bitcoin halving you could argue will have a positive effect on Bitcoin, and you probably would be right. Although, having said that if the current pandemic is still peaking around the world then we could possibly see Bitcoin drop even further before, and immediately after the halving.

[elenag442]

I don't think Bitcoin, from now and in the near future, is generally going to be mentioned and famous as an alternative idea to protect a person's cash.

If financial emergency stimulants and financial exchange keep practitioners / dealers plague, a few couples, for example, may start to dare for bitcoin, gold or silver, other better and more important sources.