corona virus & bitcoin market

Quote from: Latviand on February 03, 2020, 07:59:09 AM

How come that it would affect the market value of Bitcoin?

2 reasons:

1) Pandemic risk: how large are the expected (economic) losses?

Quote

The World Bank, for example, generated estimates of global income losses under different influenza pandemic scenarios. It found that a pandemic of the same severity as the 1918 influenza pandemic might reduce global gross domestic product by about 5% and that the disruptive effects of avoiding infection would account for about 60% of that reduction. Another study of the consequences of a range of pandemic severities included an extremely severe scenario that would lead to income losses of over 12% of gross national income worldwide, including losses of over 50% of the gross national incomes of lower-income countries.

2) BTC and global equity markets have been in strong bull markets for the last decade. I don't think this is a coincidence. It has to do with global cycles in investor risk tolerance. Simply put, BTC is a high risk investment asset. In that sense, it's similar to overinflated equities. In times of recession (like a serious pandemic), investors flock away from risky assets and into safe havens, so BTC should decline along with equities.

Most likely, Bitcoin will wait for growth, due to the pumping of assets from various stock assets from Asian stock exchanges, but this is in the case that the coronavirus does not turn into a global pandemic. Then, on the contrary, bitcoin can drop very much.

Quote from: VIP BTC on January 31, 2020, 09:54:19 PM

Quote from: techptcl786 on January 29, 2020, 05:32:13 AM

What does corona virus have to do with bullish bitcoin ?? any effects

I think there is nothing to do with bullish Bitcoin with the corona virus. Corona virus is a virus that infects the respiratory system, not infecting software or hardware systems. Grin

I don't know why people are comparing Bitcoin with the coronavirus, Bitcoin is a completely different technology, which it is not infected by the virus, but this virus is found in china, which people are predicting whether there is any influence on Bitcoin, I think big no.

Of course, it is very strange to listen to the statement of many cryptocurrency users that there is something in common between Bitcoin and the coronavirus in China. But in this situation, we are missing a very important thing, which consists in the fact that, according to expert analysis, almost 70 or 80% of all Bitcoin miners are located in China. Based on this, one can still assume a certain influence of the situation in the Chinese state on the cryptocurrency market.

Quote from: atjiat on February 03, 2020, 06:32:29 PM

Possibly!

I do also think up on this possibility even though most people do forget on what are the roles of miners here on bitcoin community.
We know that majority of miners is located on china and if this epidemic would continue then we will surely saw the effects of it
on the entire market.

Corona virus have brought a lot of effect to the society, mainly in China but, for its effects on the price movement of Bitcoin and any other crypto currency, I think, It has no relation. Although, a lot of miners are based in China, I don't see any impact of the event regarding the prices in the market.

Quote from: criza on February 03, 2020, 11:27:26 PM

I also think that viruses and crypto-market don't have any relations. Where these stories comes from? Who is publishing this informations and with
what purpose it's a secret for all of us.
I agree that a lot of miners comes from China, but mining isn't the only job in China, there other jobs and billion people who work there. It's funny
to make connections between crypto-market and virus and put everything else on a side.