Does the Coronavirus (Covid-19) make BTC to rise?

[Reid]

I think this is the 3rd thread made about connecting Coronavirus and the bitcoin/altcoin market.

This is one.
https://bitcointalk.org/index.php?topic=5229748.0

Then another.
https://bitcointalk.org/index.php?topic=5228554.0

I mean, why?
Yeah, the stock market went down and they say it is because of the virus.
But yet, there is just no facts to connect it directly to bitcoin yet.
I still think there is no slight chance for that.
Better, it might make bitcoin rise because people would want to keep their money to something more safer.

[angell134]

Exactly this, we don't know whats going to happen. We don't have our own personal crystal bowl. The market might go down for a while, but the blockchain world is moving forward on the long run. More advanced tech will have a huge influence on the price in the future. I doubt that events like the Covid-19 we see right now, should affect the Bitcoin price on a longer period.

..........
YEA i agree your opinion and that effect must be bullish effect  for BTC

I think this is the 3rd thread made about connecting Coronavirus and the bitcoin/altcoin market.

This is one.
https://bitcointalk.org/index.php?topic=5229748.0

Then another.
https://bitcointalk.org/index.php?topic=5228554.0

I mean, why?
Yeah, the stock market went down and they say it is because of the virus.
But yet, there is just no facts to connect it directly to bitcoin yet.
I still think there is no slight chance for that.
Better, it might make bitcoin rise because people would want to keep their money to something more safer.

All of these things are important to the issue (of course I'm not worried)
But the next thing you said is that Bitcoin is now on the upside and there is a possibility of reforming

[fabiorem]

I mean, why?

One word: "legitimation".
The hodler church had been preaching legitimation for a long time.

If bitcoin is legitimated by the fiat system, then it will be just another paper asset, and if the stock market falls due to coronavirus, then bitcoin will fall together with it.
Hence the fears from more inexperienced holders.

One tip: stop listening to the hodler church. We dont need legitimation.
See the damage done by CMD and BAKKT: a bear market raging for more than 2 years, bigger than the previous one. Only now there is some resemblance of a bull market forming in the horizon.

[Baoo]

I don't think so, Corona virus does not have any affect on Bitcoin and even the other cryptocurrencies in the market I would guess. Plus, I don't know why the panic of this virus are widespread in the whole world, Unfortunately, I only see the negative news in the social media. And remember the world economy crisis because of Corona  will not attract investors to Bitcoin. Otherwise, I think this current dump of Bitcoin will continue , It may end in days or  weeks.

[angell134]

I don't think so, Corona virus does not have any affect on Bitcoin and even the other cryptocurrencies in the market I would guess. Plus, I don't know why the panic of this virus are widespread in the whole world, Unfortunately, I only see the negative news in the social media. And remember the world economy crisis because of Corona  will not attract investors to Bitcoin. Otherwise, I think this current dump of Bitcoin will continue , It may end in days or  weeks.

Social networks give more stress to topics and
Can I ask why do you think more investors aren't attracted to Bitcoin because of Covid-19 ?

[philipma1957]

dow jones is rallying.

btc is rallying.

do you want me to say they go up and down hand in hand.

i do not know.

but i think they will go hand in hand for this crisis.

mainly due to asic builders being located in china.

i noticed an air pollution chart for china from about six weeks ago.

lots of filthy air on the photos six weeks ago

almost none on current satellite 🛰 photo.

thus no gear being built .  asic or anything else.


which is why i think they market is linked with cyptocoins.


so buy some coins as it will bounce back.

[Harlot]

~snip~

I believe what you are saying because there is a need for price correction in the market for the uptrend and this is not the first time I have seen this bitcoin price fluctuation. With these interpretations, bitcoin has grown well in the new year. What I am looking for , this fundamentals to drive the growth and popularity of this market.

And what fundamentals are you talking about? Bitcoin literally has know fundamentals only technicals that's why it is hard to pinpoint the exact fair market value for Bitcoin and that is also why it is very voltatile as only the demand and supply as well as the FUD and FOMO are only moving it. If you are here just waiting for fundamentals then I would suggest that you just move your money in the stock market where you'll have a good time learning about their earnings on their annual reports. If you still want to stay in the crypto market then the right thing for you to do now is to study technical analysis rather than FA which is more useful in the market right now. Don't be that kind of trader who will just look at news and make their buy and sell decisions on it just like how a lot of people are connecting the coronavirus and Bitcoin's price correction.

[coinfinger]

It is the same old tactic that existed for decades now. What happens when there is high inflation and you offer people a lot of interest rate? They will rather keep their money in the bank and get interest for it right? There would be no money influx to the economy and everyone would just get savings.

However, if you drop that lower and you give people easier loans and there is no way for them to make a decent profit from just keeping it at bank? They will rather just put their money into investment and that will result with them putting money back into their jobs and business and that will result with economy will go up as well and there would be a general increase for the nation as well.

[Leviathan.007]

~snip~

I believe what you are saying because there is a need for price correction in the market for the uptrend and this is not the first time I have seen this bitcoin price fluctuation. With these interpretations, bitcoin has grown well in the new year. What I am looking for , this fundamentals to drive the growth and popularity of this market.

And what fundamentals are you talking about? Bitcoin literally has know fundamentals only technicals that's why it is hard to pinpoint the exact fair market value for Bitcoin and that is also why it is very voltatile as only the demand and supply as well as the FUD and FOMO are only moving it. If you are here just waiting for fundamentals then I would suggest that you just move your money in the stock market where you'll have a good time learning about their earnings on their annual reports. If you still want to stay in the crypto market then the right thing for you to do now is to study technical analysis rather than FA which is more useful in the market right now. Don't be that kind of trader who will just look at news and make their buy and sell decisions on it just like how a lot of people are connecting the coronavirus and Bitcoin's price correction.

What "fundamental" exactly means? If you were following bitcoin for a few last years you know after "bitinstant" (one of the first bitcoin exchanges) was closed down the price was getting too low and even bitcoin stopped trading.
Of curse I'm not saying you can rely on the fundamental news for trading, I would say fundamental news will make people to but or sell sometimes they will lesson and sometimes they will not. If you close you eyes and keep doing the technical analyzes you will fail one day.
The structure of the market is supply and demand. but, what makes the traders to buy or sell? news, their mind, etc...
You can never say the fundamental is useless, even in crypto currencies.

[angell134]

It is the same old tactic that existed for decades now. What happens when there is high inflation and you offer people a lot of interest rate? They will rather keep their money in the bank and get interest for it right? There would be no money influx to the economy and everyone would just get savings.

However, if you drop that lower and you give people easier loans and there is no way for them to make a decent profit from just keeping it at bank? They will rather just put their money into investment and that will result with them putting money back into their jobs and business and that will result with economy will go up as well and there would be a general increase for the nation as well.

In my opinion, bitcoin does not belong to one country, but it does grow and improve secure payment. blockchain itself also advances technology .Nobody knows what to blockchain can do in future

[Oceat]

This world epidemic has nothing to do with the market price. Most crypto journalists are a fan of making an exaggerated news connecting almost everything that is trendy in the eyes of their readers. What we see is merely a normal price movements since Bitcoin was pumping lately it's just normal to see a dump after that because there are traders.

[angell134]

This world epidemic has nothing to do with the market price. Most crypto journalists are a fan of making an exaggerated news connecting almost everything that is trendy in the eyes of their readers. What we see is merely a normal price movements since Bitcoin was pumping lately it's just normal to see a dump after that because there are traders.

In your opinion, journalists are linking different topics for most people , but traders and investors may also be reading that news  . they be effective that crypro market and make dump and pump  BTC

[danherbias07]

     IMPORTANT RESISTANCE: $ 9200

Just a week ago, analysts are stating that the resistance is $10,500 or something near it.
So it changed quickly because of the Virus?

There are lot of speculations about this because of the stocks also diving and people are starting to decide to put the blame into something else.
It looks manipulative for me.
Ain't there any other explanation for this rather than the virus? People suddenly withdrawing because of it? What does that mean? End of the world?

[angell134]

Just a week ago, analysts are stating that the resistance is $10,500 or something near it.
So it changed quickly because of the Virus?

There are lot of speculations about this because of the stocks also diving and people are starting to decide to put the blame into something else.
It looks manipulative for me.
Ain't there any other explanation for this rather than the virus? People suddenly withdrawing because of it? What does that mean? End of the world?

All of this is not about the end of the world, don't be hard. I think for some reason when this resistance changes from $ 10500 to $ 9200, it gets better for the encoder pumps. and for this week we will see bitcoin pump to 9200$ again

[BrewMaster]

today i saw some articles here and there talking about a new "recession" caused by this virus outbreak which i think is mainly because the number of infected victims is growing fast in USA and also the US stock market has been responding with a lot of panic and then dumps.

if the recession happens then we may start seeing a big bitcoin adoption and a massive price rise that we have never seen before. i am thinking $1 million.

[exstasie]

if the recession happens then we may start seeing a big bitcoin adoption and a massive price rise that we have never seen before. i am thinking $1 million.

Why would a recession possibly be good for BTC? Institutions buy into treasuries and cash positions when recessions hit, making all investment asset markets contract. Job losses and lack of growth would also pressure retail investors into selling rather than buying BTC.

There's no sense to this idea that people will suddenly diversify into BTC if the stock markets dump. BTC will dump with everything else.

[stompix]

if the recession happens then we may start seeing a big bitcoin adoption and a massive price rise that we have never seen before. i am thinking $1 million.

Yeah, I can see people losing their jobs, their business, with relatives in hospitals, with a shortage of food and basic necessities going full into bitcoin!
What's with this fetish that everything that will trigger a recession will be good for bitcoin? It won't!

It will not be good for bitcoin, won't be good for us and will not be good for anyone!
Rather than dreaming of having people putting in a part of what is left of lifesaving into BTC how about a scenario when everything is fine, we have economic growth and people have enough money to invest without cutting back on anything else and without the need for a lifeline.

 

[Spaffin]

if the recession happens then we may start seeing a big bitcoin adoption and a massive price rise that we have never seen before. i am thinking $1 million.

Yeah, I can see people losing their jobs, their business, with relatives in hospitals, with a shortage of food and basic necessities going full into bitcoin!
What's with this fetish that everything that will trigger a recession will be good for bitcoin? It won't!

It will not be good for bitcoin, won't be good for us and will not be good for anyone!
Rather than dreaming of having people putting in a part of what is left of lifesaving into BTC how about a scenario when everything is fine, we have economic growth and people have enough money to invest without cutting back on anything else and without the need for a lifeline.

 

It seems to me that before talking about the dependence of Bitcoin prices on the situation with the coronavirus, you first need to compare the statistical data, which consists of the size of the community of cryptocurrency users and those people who are trying to protect themselves from the coronavirus.  Based on this, I believe that other people, and not all bitcoin owners, are at greater risk.

[samcrypto]

if the recession happens then we may start seeing a big bitcoin adoption and a massive price rise that we have never seen before. i am thinking $1 million.

Why would a recession possibly be good for BTC? Institutions buy into treasuries and cash positions when recessions hit, making all investment asset markets contract. Job losses and lack of growth would also pressure retail investors into selling rather than buying BTC.

There's no sense to this idea that people will suddenly diversify into BTC if the stock markets dump. BTC will dump with everything else.

We can’t imagine what would be the possible things to happen if there’s a new recession, this should not be the basis for the mass adoption. Its been 3 Months since the total outbreak of Covid19 and yet bitcoin is still not pumping so technically, Covid19 is not good at all not just for bitcoin but for all the people around the world.

[jhonjhon]

if the recession happens then we may start seeing a big bitcoin adoption and a massive price rise that we have never seen before. i am thinking $1 million.

Yeah, I can see people losing their jobs, their business, with relatives in hospitals, with a shortage of food and basic necessities going full into bitcoin!
What's with this fetish that everything that will trigger a recession will be good for bitcoin? It won't!

It will not be good for bitcoin, won't be good for us and will not be good for anyone!
Rather than dreaming of having people putting in a part of what is left of lifesaving into BTC how about a scenario when everything is fine, we have economic growth and people have enough money to invest without cutting back on anything else and without the need for a lifeline.

 

It seems to me that before talking about the dependence of Bitcoin prices on the situation with the coronavirus, you first need to compare the statistical data, which consists of the size of the community of cryptocurrency users and those people who are trying to protect themselves from the coronavirus.  Based on this, I believe that other people, and not all bitcoin owners, are at greater risk.

Bitcoin owners may not be affected directly but it has an effect somehow. The Coronavirus outbreak affected not only China but many countries already thus, transactions internationally are struggling because of the threat of the virus and with that it will greatly hit a countries economy and when the economy struggles bitcoin can also be affected. Let’s just pray this outbreak will be addressed as soon as possible as to the safety of many people and be back to normal.