Bitcoin declined 3% as the coronavirus spread in italy

[rambogoham1]

It definitely could be a possibility but Goldman Sachs also suspects the FED to decrease Federal Funds rate by 100 basis points as of Friday. Their is a lot of noise to tie the current market situations unfolding.

[1714312818]

1714312818

[1714312818]

1714312818

[1714312818]

1714312818

[1714312818]

1714312818

[rodskee]

https://cointelegraph.com/news/bitcoin-traditional-markets-drop-3-as-coronavirus-spreads-in-italy

As the coronavirus spread in Italy recently, bitcoin market has dropped 3% and also the traditional market including all the top ranked cryptocurrencies. Can coronavirus spreading be the cause?

actually not only in italy that day because even Korea and Germany has been declared as one of the most affected countries now of this Corona Virus.
but Indeed that we are experiencing declined as the Virus continues to be aired as spreading the world now.
though today there is a good movement market shows bringing greens in most top ranked crypto?i think this is enough for now to consider that the Virus is fading effect in our market here.

[BlackFor3st]

https://cointelegraph.com/news/bitcoin-traditional-markets-drop-3-as-coronavirus-spreads-in-italy

As the coronavirus spread in Italy recently, bitcoin market has dropped 3% and also the traditional market including all the top ranked cryptocurrencies. Can coronavirus spreading be the cause?

I am very interested whether this coronavirus outbreak will really cause a bad effect to the crypto market or it is only an imagination to the investors who are worried in every dip of prices. There is a big possibility that it is only a coincidence as if you will closely check the market, in every increase of price there is always a setback of it before it will continue to increase again.

The outbreak has been spreading already in different countries and not in Italy only so let's just remove the this reason why the bitcoin declined it's price.

[Kakmakr]

Now why would the spread of the COVID-19 virus to Italy, have such a impact on the Bitcoin price? China is currently one of the largest economies in the world and when the Corona virus was first announced, the Bitcoin price went up. 

People are looking for answers for the latest drop in the price, but the price fluctuation cannot be explained with the behavior of the historic events, because it is not reacting in the same way it did, when this announcement was made in China.

Large investors will look for safe havens and I doubt if they are moving funds towards Crypto investments, because the price volatility is scaring them away. 

[Pamadar]

https://cointelegraph.com/news/bitcoin-traditional-markets-drop-3-as-coronavirus-spreads-in-italy

As the coronavirus spread in Italy recently, bitcoin market has dropped 3% and also the traditional market including all the top ranked cryptocurrencies. Can coronavirus spreading be the cause?

I am very interested whether this coronavirus outbreak will really cause a bad effect to the crypto market or it is only an imagination to the investors who are worried in every dip of prices. There is a big possibility that it is only a coincidence as if you will closely check the market, in every increase of price there is always a setback of it before it will continue to increase again.

The outbreak has been spreading already in different countries and not in Italy only so let's just remove the this reason why the bitcoin declined it's price.

Indeed, we all knew that corrections  take place after some good runs those investors who already gained decent are liquidating their assets. It will repeat itself as scalpers and day traders are keeps tracking their opportunities. In regards to Corona virus, there's slight effects knowing that investors from China  might need money to finance the situation, not only Italy but there's also affected countries who also known for crypto supports.

[hd49728]

Now why would the spread of the COVID-19 virus to Italy, have such a impact on the Bitcoin price? China is currently one of the largest economies in the world and when the Corona virus was first announced, the Bitcoin price went up.  

People only need reasons of rises or falls so they always receive news relate to reasons. But most of times reasons are not real ones, just are dilivered to satisfy reason-hunters.

If you look at SEC, it is the same as Covid-19.

People are looking for answers for the latest drop in the price, but the price fluctuation cannot be explained with the behavior of the historic events, because it is not reacting in the same way it did, when this announcement was made in China.

Large investors will look for safe havens and I doubt if they are moving funds towards Crypto investments, because the price volatility is scaring them away.  

But now the pandemic is coming and people have feared of another global crisis.
They forgot the Covid-19 is a kind of flu, which mostly reduces or dissapear in summer.

[mike_spr]

In times of fear like these, investors/speculators exit riskier and also more liquid assets, like Bitcoin is nowadays. With time I believe it will be seen as less and less riskier but now it is still seen as a riskier asset.

[Mulann2]

even if it declines by 3% it will still recover in no time, it always does, maybe the spread of virus has a way of affecting btc or not, but one thing i do know is btc has always experience rise and falls since the beginning and will continue to do so because it was not design as a stable coin,
we can not say for sure the virus is the major reason for the decline or it is just a normal market correction as usual.

[kooboat]

The Coronavirus disease has affected a lot of economic activities across the globe but I don't think it is the cause of the recent decline in the price of bitcoin. Obviously for most people or traders who deal in bitcoin, it is largely online basis so I don't see how Coronavirus comes into the picture here.

[pixie85]

The Coronavirus disease has affected a lot of economic activities across the globe but I don't think it is the cause of the recent decline in the price of bitcoin. Obviously for most people or traders who deal in bitcoin, it is largely online basis so I don't see how Coronavirus comes into the picture here.

It's the cause of the stock market crash and could indirectly contribute to the decline in the price of Bitcoin.

I don't know if it did but we cannot be sure. The corona panic is the most important theme in the media these days. If a stupid tweet by Jamie Dimon and China FUD could influence the price why not this?

[fortunecrypto]

The Coronavirus disease has affected a lot of economic activities across the globe but I don't think it is the cause of the recent decline in the price of bitcoin. Obviously for most people or traders who deal in bitcoin, it is largely online basis so I don't see how Coronavirus comes into the picture here.

And some people thought that Corona can push the price higher because it can be adopted for cashless transaction right now Bitcoin has a huge drop and can even go in the $7900 level and surprisingly we are only two months away from the halving.

[kemoglo]

The Coronavirus disease has affected a lot of economic activities across the globe but I don't think it is the cause of the recent decline in the price of bitcoin. Obviously for most people or traders who deal in bitcoin, it is largely online basis so I don't see how Coronavirus comes into the picture here.

And some people thought that Corona can push the price higher because it can be adopted for cashless transaction right now Bitcoin has a huge drop and can even go in the $7900 level and surprisingly we are only two months away from the halving.

Man people think the wildest things, Corona (the beer) stocks took a dip thanks to the name of the virus, also people generally avoiding asians, these people are not total outsiders, some of them are even in crypto, they'll buy into whatever might fit their narrative no matter how crazy it sounds, I personally think we can dip even lower, but once the halving actually happens and the corona virus thing gets fixed then price might soar even higher. But maybe that's just wishful thinking on my side (that coronavirus will soon get fixed)

[boltz]

Bitcoin keeps going down and I'm not so sure if corona has something to do with this and I think this is just another drop in price before halv and another chance for accumulation to begin... . Sure there is a small percent who influenced the price of bitcoin to be dropped due to corona outspread but I won't major it this big. I do hope everything comes to normal , both with Bitcoin price and with the situation on a global scale.

[verita1]

I now see the coronavirus issue with deep concern because it can affect the world economy if a vaccine against the virus is not discovered in time. I am also concerned about the crypto market situation more than before due to this global public health problem. I hope that the market improves in the coming days because as we know all the currencies fall.

[BADecker]

As people in more and more countries need cash to buy masks, etc., for Coronavirus, they will sell Bitcoin. When there is nobody who will buy bitcoin for their cash... because everybody wants cash to buy masks, etc., the value of Bitcoin will go down as people will need to get something out of it.

However, will there be other, wealthier, Bitcoin buyers who have lots of cash, and who will buy up all Bitcoin wanting to be sold, maybe just to keep the price from going down too far?

Might be a really good time for trading Bitcoin for fiat and back again.

[FarhanAkhter]

The corona virus has a great impact in the crypto market. The market price of bitcoin and all other crypto currencies has collapsed a lot. Not only in Italy,bitcoin market price has declined a lot around the world. Bitcoin market price started really well this year,but the recent collapse was the lowest btc market price in this year.

[milesfull]

Bitcoin is declining for a weeks actually...

[coinfinger]

https://cointelegraph.com/news/bitcoin-traditional-markets-drop-3-as-coronavirus-spreads-in-italy

As the coronavirus spread in Italy recently, bitcoin market has dropped 3% and also the traditional market including all the top ranked cryptocurrencies. Can coronavirus spreading be the cause?

Market has crashed big as of recent and dropped to a low of $7,000 plus . I wasn’t even expecting the price to fall that much, I’m surprised it did. There are lots of possible reasons as to why the price has fallen to this extent and Coronavirus outbreak is one of the reasons that might have triggered the sudden huge decrease in price.

Another issue that might have caused the price of Bitcoin to drop this low is the activities of BTC miners who have been selling less than what they mine. Apart from that some experts have said the PlusToken scam is among the things that caused the fall in price. I also want to note that there have been a decline in the trade volume of Bitcoin.

[garyrowe]

https://cointelegraph.com/news/bitcoin-traditional-markets-drop-3-as-coronavirus-spreads-in-italy

As the coronavirus spread in Italy recently, bitcoin market has dropped 3% and also the traditional market including all the top ranked cryptocurrencies. Can coronavirus spreading be the cause?

I still maintain my position on that this  recent slide in price of Bitcoin is not as a result of the coronavirus outbreak but a simple manipulation by those holding huge sum of Bitcoin. If this information I  bumped into is correct then I think there is no need to worry as the market should be on the reverse mood anytime soon. The real reason for the recent deep is allegedly caused by Bitfinex selling off about 21,000 BTC (https://www.trendsmap.com/twitter/tweet/1237270740149268481). This has let to panic , thus making small others sell at a loss. My advice is to stay still and hold your positions.

[XCANA]

https://cointelegraph.com/news/bitcoin-traditional-markets-drop-3-as-coronavirus-spreads-in-italy

As the coronavirus spread in Italy recently, bitcoin market has dropped 3% and also the traditional market including all the top ranked cryptocurrencies. Can coronavirus spreading be the cause?

Basically, the traditional market differs from the virtual market so the relationship between the traditional market and virtual market cannot be related. The market has been in this form since its creation, we should never forget market volatility and put everything on Covid-19 as the caused of the market fall. This market fall has been in existence, cryptocurrency journalism shouldn't be a thing that will cause more panic than the real causes like in this case of coronavirus. The recent fall in Bitcoin price can be tag to the recent scam of $100m Worth of Bitcoin.