Bitcoin declined 3% as the coronavirus spread in italy

[FanatMonet]

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.

Your theory has a right to life, but nevertheless, the strong drop in bitcoin coincided with the collapse of markets around the world after the failure of the negotiations on OPEC +, and even the coronavirus overlapping it. It is possible that investors withdraw assets simply from everything in a row.

[LEON331300]

This 3% fall rate I actually predicted, although not the correct figure . Italy basically is the number one country suffering from this current global pandemic outbreak the most,  we should expect that coin holders are scared and dumping their cryptocurrency in convert to a fiat fund then can easily acess for their survival.

[Pixyoxx]

Yeah Even I herd About This Thing Italy Is Going Through The Worse. And The Bitcoin Is Down But It Will Surely Get Back Again Because Of Corona The Bitcoin is Declined By 3% But Yeah It will grow Again After All this Is over.all this is because of this Corona Virus .

[SUMBI99]

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

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

I don't think so, other factor implied to that decline if you follow the market trends at the beginning of the outbreak situation favored Bitcoin, if the reason for the market is a coronavirus shake could be experienced very early.

More read here:: https://bitcointalk.org/index.php?topic=5234953.0

[Bitcoinislife09]

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?

Italy is already having a hard time in this Coronavirus and daily a hundreds of people is dying, Surely the virus is affecting the movement of the bitcoin in their country also their economy is also affected.

In their country it is already all about survival, I think that sudden drop could be one of the reason but we could expect a big movement as the virus continue to spread around the globe. For sure the effects of the virus was not yet seen at this time for sure in the coming month the effects of the virus would be devastating to everybody.

[Twentyonepaylots]

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?

Italy is already having a hard time in this Coronavirus and daily a hundreds of people is dying, Surely the virus is affecting the movement of the bitcoin in their country also their economy is also affected.

Not only affected but instead it is devastated. Italy is crumbling because of the coronavirus, they are listing a new all time high death rate every day that is surely making the others to panic in a small box.

In their country it is already all about survival, I think that sudden drop could be one of the reason but we could expect a big movement as the virus continue to spread around the globe. For sure the effects of the virus was not yet seen at this time for sure in the coming month the effects of the virus would be devastating to everybody.

I know we've been all fighting the pandemic but Italy has the most crucial one, I can't stand on my feet when reading news about them, it's not just their economy it is their lives that matters the most. We are not yet in the stage where we are going to see the effects of the pandemic, we are just getting started to crawl under a possible recession again. The only good thing I have heard today is the soaring price of bitcoin in 2 days.

[KingScorpio]

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?

thats 2 times bad, especially if you consider that in the corona panik many banksters are fraudering their financial trust with the money printing press.

[Questat]

The declined did happened, in fact big declared as bitcoin dump 50% but slowly it's already recovering.

If we blame the covid-19 on the dump, let us not just blame it to what happen in Italy as this is a global pandemic, most countries are affected so it's normal that crypto market will dump but it actually surprise me when it recovers right away, I think we are unto something good in the future.

[Janation]

I think we should not let ourselves be affected by this article.

The fact that Bitcoin kept on staying at $10K last month amidst the coronavirus means it is not related to it at all. We are talking about Bitcoin increasing amidst the price meaning it is affecting the price positivity and then when the price fell we will be talking about the pandemic affecting the price negatively, I mean, it is just a coincidence. It fell 45% last week and a 3% fall is the main thing? No, Bitcoin is just volatile because of this fall. They can just say that it fell because of what's happening in Italy. Oh yeah, the price fell after I posted this, I think it is affected by it.

[Tiews223]

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?

At a time where there is a pandemic, people have been reluctant in trading as they pull out their investments. People know that when manpower is moving less to not even moving at all, then there is little activity, when there is little activity, there is little income. I think it’s a domino effect as to why there is a great depreciation of value.

[TheGreatPython]

There’s something I really want to understand here – the price of BTC managed to get back up from as low as $3,850 to the current $6,600 and nobody said anything about. But, now that the price is down just a bit (3%) you’re already asking what could have lead to the decrease lol?

This is cryptocurrency and cryptocurrency is volatile, so you should be expecting price fluctuation at any moment. If you think that the price will keep going up all the time then you’re making a big mistake because that’s not how it works, there will always be ups and downs, the price can’t be stable. So we shouldn’t be talking about Covid-19 by now, yes it happened and it affected the market to this extent, but the market is already recovering. Stop tagging every little thing as Covid-19.

[Assface16678]

The coronavirus does not too much effect to the market price of the bitcoin because once you check the background is the graph is bitcoin it is worst from the previous year because on the year of 2019 the market price of the bitcoin on the exact date today is holding into almost 5k dollars and compare today that is already 6.6k dollars but it is slowly increasing day by day and many people say that the price is the bitcoin is low because of the corona because some of the people made a panic selling and buying a lot of food, mask and more just to protect themselves and family.

[Natalim]

The coronavirus does not too much effect to the market price of the bitcoin because once you check the background is the graph is bitcoin it is worst from the previous year because on the year of 2019 the market price of the bitcoin on the exact date today is holding into almost 5k dollars and compare today that is already 6.6k dollars but it is slowly increasing day by day and many people say that the price is the bitcoin is low because of the corona because some of the people made a panic selling and buying a lot of food, mask and more just to protect themselves and family.

As of now, it's not only based on Italy but in the entire world, this global pandemic has destroyed our economy but not our crypto market.
I agree with you that the market looks strong now and it seems like we have a very promising future, bitcoin has slowly recovered and I like to believe that the next move will be uptrend, the thing is, people are still investing now and that's a great thing for us.

Who knows bitcoin might pump tomorrow, and I would not be surprise with that because I get used to it.

When people less expect the movement, it did happen, and I can only imagine the hype that would happen if indeed there is a pump.

[Vishnu.Reang]

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?

Since the outbreak was confirmed a few months ago, the exchange rates have fallen by close to 40%. And this is comparable to the drop we had in similar markets such as equities. Even crude oil has lost more than 50% of its value. Until the situation is contained in major economies such as the United States and the European Union, we may not witness a recovery in the prices.

[kotajikikox]

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?

It Get worst as the march approached and the Biggest Dump happen in Bitcoin History in just almost 1 day.
how i wish that i did get that Virus effect so i have sold my Holdings before the 50% dump happens maybe i am double profiting as this moment and what more when Conora spread stops and the Halving brings us the Bull market again.
But things will never always favor us thats why we need to keep the Holding as long as we can specially in this crisis that we are all in financial problem.

[adzino]

Lol funny how this 3% then eventually turned out to be a more than 50% drop. People started to panic when they started to see the drops. They started to fear for their investment when they started to see the kind of news you have posted over here. Not only this, as the stock market and the economy also started to crash, the price of the bitcoin also started to fall as people thought crypto currencies were going to face the same fate as the stock market which actually ended up happening as more people started to sell. At least it started to recover and is above $6,000 USD.

[buwaytress]

Frankly, I'm disappointed. Super bad economy. Iran-US and China-US tensions. Joblessness. Hyperinflation everywhere. Negative interest rates. Zero reserve requirement. Stimulus package. Pandemic yet to peak.

And STILL Bitcoin bears only got us down to this price?

Bitcoin: come at me brah!

[de_ingenious]

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 see no direct correlation between these two factors. In fact, why wouldn't the price go up cause of this situation? I don't quite see causal patterns here

[maskforbitcoin]

The virus probably will lead to a lot more money printing from fed & EU so likely will drive up price of btc.

[camito]

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?

We already know that it might be one of the reason because with the pandemic destroying people's lives, even though there might be a lockdown, people are fearing for their lives so using Bitcoin right now is not a priority for them. We know Italy is facing many deaths everyday and the actual reason for this is because of the virus which has many reasons for someone to have. The virus caused the people to be wary of touching anything such as their phones or computers, and considering their population, that is the 3% we are talking about.