Can the Outbreak of CORONA Virus lead to Increase .....

[Soldierswitlittlefaith]

Just wondering, because i notice the exchange rate of btc hit $10,000 usd per btc within a few days before it slightly drop down to $9,876 usd

Do you think this could also be due to the outbreak of CORONA VIRUS beside the previous USA/IRAN CRASH?
If, this be the can then it could probably hit $15,000 usd per btc over a couple of month.

Thanks
Soldierwitlittlefaith

[Stedsm]

I don't know how you're pinning the rise in BTC with the outbreak of Corona virus, while BTC has been rising all because of the fact that it is, once again, been seen as one of the safe haven assets while most of the International Stocks are sinking and it looks like an economic outbreak is resting ahead in the future and BTC could only be one of the best investments to make better returns. While it may sound off-topic, I'd ask everyone to come ahead and let's do our best to stop this deadly disease or at least let the infected people get out of it as quickly as possible.

[mk4]

It could be, though I completely doubt it. The Corona virus isn't even THAT globally widespread(as of now at least, hopefully it won't) to actually make people move to a safe haven asset due to the anticipation of more economic uncertainty. If anything, I'm betting that the price increase was due to the anticipation of the halving. But ultimately, no one knows the main reason is.

[serjent05]

It could be, though I completely doubt it. The Corona virus isn't even THAT globally widespread(as of now at least, hopefully it won't) to actually make people move to a safe haven asset due to the anticipation of more economic uncertainty. If anything, I'm betting that the price increase was due to the anticipation of the halving. But ultimately, no one knows the main reason is.

Besides, there is no clear evidence that those who are pulling their investment in Chinese stocks are putting it on the cryptocurrency industry, I believe that it is more probable to be put in Gold stocks.  This increase is probably and more likely due to the incoming halving as you said.

NCOV may have an effect on the cryptocurrency market somehow but I do not think it is that big enough to push the price of BTC at the current level.

[franky1]

stop being stupid by thinking the corona virus is a real thing that affects bitcoin..

for one.. EVERY YEAR china shut down in january till february.. its called the chinese new year festival.
next... january saw 800 deaths due to corona.. yet EVERY MONTH sees 21000 deaths due to cars/traffic.

the chinese are not in fear.
google image: china smog <year> and you will always see pictures of people with face masks every year.

will people calm the hell down about corona.

then stop making silly bitcoin related speculation based on things not even related to electronic effects.
corona is biological virus akin to the flu. so calm down its not a computer virus. and even if it was a computer virus. a computer virus cannot break bitcoin. thats the whole benefit of bitcoin

[mk4]

the chinese are not in fear.

I agree with most of what you have said, but I'm not sure about this one. I'm pretty sure some cities/provinces being forced to lock-down is going to strike fear to some chinese people. And yea, I know like 2 people from China, and people are definitely scared even though they aren't even from Wuhan. Having a virus spreading(yes, fatality rate is low, I know) has a really different mental/emotional effect compared to just having smog from heavy pollution that the chinese are pretty much used to now.

But yea, I agree that bitcoin's increase has nothing to do with the corona virus.

[7788bitcoin]

stop being stupid by thinking the corona virus is a real thing that affects bitcoin..

For sure it is a stupid analogy and people die off road accidents than through Corona Virus, if there is a real issue the market usually goes down rather than going up. There is a real issue with the outbreak it is taking a toll on their economy.

Do you think this could also be due to the outbreak of CORONA VIRUS beside the previous USA/IRAN CRASH?
If, this be the can then it could probably hit $15,000 usd per btc over a couple of month.

Don't you think it is a little excessive to think that due to an outbreak the market started moving, the halving is coming up and the market is growing because of that rather than thinking that it is because of an epidemic . I am sure you got this idea from some stupid news site who are looking to get some clicks.

[joeperry]

Possibly. But, if we are going to be real keen on the reason behind the increase of Bitcoin's value there is no evident substantiation regarding it. And besides, the population of Chinese who engage with Bitcoin cannot be summarized into percentage in order to form data as an evidence to this shift of Bitcoin's value due to difficulty of screening of cryptocurrency enthusiasts. Let us hope for the betterment of everyone and pray for the cure and ending of this nCov not just in China but all over the world.

[BrewMaster]

so far there has been zero evidence suggesting that bitcoin price is remotely affected by Coronavirus. not to mention that although there are a lot of concerns i don't think we can call it a serious outbreak.
the rise that you pointed out, to $10k, is the well expected rise that had to happen sooner or later. and in fact this year we are going to continue seeing a lot more of this type of rise until the previous ATH is broken too.

[Wexnident]

No. I mean, sure, the nCov is spreading like wildfire, news are covering it every day, but I doubt it could affect the market, and even if it did, it wouldn't affect it by that much. There's a limit to the influence a single virus can do, especially since if you consider the speed of reaction of the world regarding it, unless it's a very complicated virus that would take decades to counter, then it shouldn't. But it isn't. There are already victims of the nCov that are already healed or at least, has removed its symptoms already so at the very least, it is shown that the nCov virus is curable.

A solid increase of BTC should only happen based on crypo related news/ demand and supply. That way, we can ensure that it isn't caused by an external factor "temporarily" which ultimately, imo, has a negative effect on the market of BTC.

[Mumbeeptind1963]

Besides, there is no clear evidence that those who are pulling their investment in Chinese stocks are putting it on the cryptocurrency industry, I believe that it is more probable to be put in Gold stocks.  This increase is probably and more likely due to the incoming halving as you said.
NCOV may have an effect on the cryptocurrency market somehow but I do not think it is that big enough to push the price of BTC at the current level.

Agree with you, there is no quite good evidence or proof that they gonna pull their money and investment and put it in crypto. The thing is, halving is on its way, so that we may experience pump this season, and some correcting in prices. I do not think that it has both a connection but I also consider this one since they cannot spend their money freely now, so there's a chance.

[franky1]

the chinese are not in fear.

I agree with most of what you have said, but I'm not sure about this one. I'm pretty sure some cities/provinces being forced to lock-down is going to strike fear to some chinese people. And yea, I know like 2 people from China, and people are definitely scared even though they aren't even from Wuhan. Having a virus spreading(yes, fatality rate is low, I know) has a really different mental/emotional effect compared to just having smog from heavy pollution that the chinese are pretty much used to now.

But yea, I agree that bitcoin's increase has nothing to do with the corona virus.

there is no lockdown.
all there is is a guy with a electronic thermometer at borders (airport checkins)
people were still able to go out and shop . yep facemasks were for sale. they were not just magically turning up at peoples letters boxes.

the reason for the quiet period is the same reason every year.. the chinese new year festival.
i have heard the most obsurd reasons for 'asic miner customer serve delays' being related to corona.. yet. every single year at the exact same time period they have had this issue due to chinese new year..

and funny thing.. media claim the 'lockdown' being lifted on a certain date.. hmm.. isnt it strange it just happens to be the same date as the end of the chinese new year period...

i have asked many chinese people and they still go out every day and not in fear. how many have you asked. or is your opinion based on western media.

funniest things i have found is the so called lock-down.. yet strangely then promoting campaign fear of westerners in china should get on a plane and get out... wait.. if there really was a lockdown. there would be no planes. right?
oops. there are planes. so i guess the lockdown is not as severe as media portray

im sorry but its not some zombie apocalypse fear reality in china. its a chinese new year festival, check on your elders to make sure they are healthy and continue as usual reality

either way.. hashrate in january is higher than december and hashrate in february is higher than january. (up up up) so i see no impact on corona hurting bitcoin

[mk4]

*snip*

Lock-down meaning that people in few certain cities aren't allowed to leave the city. Not necessarily that they aren't allowed to leave their homes. And of course people are still able to leave China through planes. It's not the whole country that's locked-down, just a few cities like I said. Calm your ass down.

And yes, I know 2 people; and I barely use social media(besides Reddit).

[exstasie]

The S&P 500 is making new highs almost daily again. The Coronavirus hasn't even shaken the stock markets. The infection rate is also now falling for the first time, making long lasting economic damage even more unlikely: https://www.nytimes.com/2020/02/12/world/asia/coronavirus-china-covid-19.html

So I don't expect it to affect the BTC market either. If the Coronavirus did turn into a pandemic and cause big economic fallout, I would expect BTC to fall, not rise.

[Wind_FURY]

stop being stupid by thinking the corona virus is a real thing that affects bitcoin..

OP, merited this post. If you know our history, you would say that it means a lot. Haha.

for one.. EVERY YEAR china shut down in january till february.. its called the chinese new year festival.
next... january saw 800 deaths due to corona.. yet EVERY MONTH sees 21000 deaths due to cars/traffic.

the chinese are not in fear.
google image: china smog <year> and you will always see pictures of people with face masks every year.

will people calm the hell down about corona.

then stop making silly bitcoin related speculation based on things not even related to electronic effects.
corona is biological virus akin to the flu. so calm down its not a computer virus. and even if it was a computer virus. a computer virus cannot break bitcoin. thats the whole benefit of bitcoin

BUT, personally? Take precautions if you live close to the vicinities where the virus has spread extensively. Especially if you have little children living at home with you.

[jossiel]

People think that there's a connection with ncov and bitcoin increase and the same with the USA-IRAN conflict but I say that it's a normal growth of bitcoin.

And there's one big thing that makes me believe that it's because of the approaching halving by the time of May. Everyone is buying back because it was believed and proved in the past that after halving price will surge.

[Wind_FURY]

People think that there's a connection with ncov and bitcoin increase and the same with the USA-IRAN conflict but I say that it's a normal growth of bitcoin.

And there's one big thing that makes me believe that it's because of the approaching halving by the time of May. Everyone is buying back because it was believed and proved in the past that after halving price will surge.

Or maybe it's simply part of the natural course of the Bitcoin market, when it's the end of the bears, and the dawn of a bulls again.

[Soldierswitlittlefaith]

FYI;  i've notice lot of positive comment & contribution(s) at the same time i notice series of insultive comment(s)/contribution(s).
With respect to the victim's and great heart of sympathy to families who had lost their belove one's as a result fo this attack.

*I'm not happy either about the rise in price of btc if, it's in any where due to the outbreak of corona virus but, the reason why i started this trade is to know to various reason,season to could affect the price of btc either negatively or postively.

Actually, i've kept my eye on this for sometime now

I hope it's clear now?

Once again, my heartfelt sympathy to the victim's and i pray for a devine intenvention!!

Thanks
Soldierwitlittlefaith

[mk4]

*I'm not happy either about the rise in price of btc if, it's in any where due to the outbreak of corona virus but, the reason why i started this trade is to know to various reason,season to could affect the price of btc either negatively or postively.

Don't worry. There's no reason to be not happy about, as the argument that bitcoin's price rise is due to the corona virus is just not that convincing. You don't need to overthink it in the first place, simply because there's really almost no way for us to know for sure what caused the price rise. In the end, we're just making rough guesses.

[bitbunnny]

Another topic about corona virus and Bitcoin. I wonder where people find inspiration.for that and do they really believe there is a connection between virus and Bitcoin. It's simply amazing.how far people's igmorance can go.
There is absolutely no connection between Bitcoin price and current growth and corona virus, it's pure conicidence that is happening at the same time.