bitcoin is supposed to go up of this corona! people are doing it wrong

[cuddaloreappu]

this global pandemic is here to stay

cash will carry virus, so bitcoin is the way..
economy is falling down, stocks in red , bitcoin is the way.

people are selling crypto like any other asset. you have to believe, the days of crypto has come..

sell all your stocks and buy bitcoin
use 90 percent of your cash to invest in bitcoin.
sell all your real estate , they will be seized by government for free for building hospitals, just like in china.

so sell everything as fast as you can and buy cypto...

buy supplies and food for atleast 3 months. fill gas in your vehicle.

[exstasie]

Bitcoin isn't supposed to do anything. It's the honey badger of money!

this global pandemic is here to stay

cash will carry virus, so bitcoin is the way..
economy is falling down, stocks in red , bitcoin is the way.

Looks like they are both falling together. Like I've said before, a bullish global economy is good for BTC because it encourages speculation and risky investment. A global contraction would do the opposite.

buy supplies and food for atleast 3 months. fill gas in your vehicle.

If GDP estimates keep dropping and stock markets keep dumping, crude oil will keep following them down too. Given your prediction, you might as well wait to fill the gas tank. Gas will get cheaper.

[The Cryptovator]

so sell everything as fast as you can and buy cypto...
buy supplies and food for atleast 3 months. fill gas in your vehicle.

Don't be on hurry mate! If incase global economy collapsed somehow then likely you will not much benefited even you buy crypto. Because, crypto or bitcoin become part of global economy. Selling everything like you said and buy only crypto would lead more collapse of economy. Because after collapsed global economy some products price will lower which is most available on your country, because your government will not able to export anything like China now. Some products price will be higher. So that time you will need real cash to buy your needs. If you are wondering that you will sell crypto then you are wrong. Bitcoin would more collapse when global economy will collapse. Very rarely you will find bitcoin buyers, because everyone will be busy to fill their basic needs. But I hole nothing will happen like this. Think positive, as soon as global economy will normalize we will see positive effect on bitcoin as well. So please be positive
...

[Cnut237]

cash will carry virus, so bitcoin is the way..
economy is falling down, stocks in red , bitcoin is the way.

Looks like they are both falling together. Like I've said before, a bullish global economy is good for BTC because it encourages speculation and risky investment. A global contraction would do the opposite.

Exactly. Bitcoin may in future be regarded as a safe haven and a ideal store of value, but that's certainly not the case at present. Bitcoin price is positively correlated to the mainstream markets, not negatively. Stocks go down, so does bitcoin. Stocks go up, so does bitcoin. We are absolutely not seeing huge new buy pressure on bitcoin in response to coronavirus.

Perhaps now is a good buying opportunity, as the price is dropping and we all expect it to increase in future - but that's a separate question.

[danherbias07]

Oh look at them reviving some of the threads here as if they have seen a new god.
They think their prediction are the accurate ones all of a sudden.

I don't blame them. They might be in panic right and don't know what to believe in.
There is just too much ruckus going around about the virus thing.
Still, I don't understand it.
Why of all the markets it should be bitcoin which will fall? There might be a huge misunderstanding here.

[Latviand]

The health related 'crisis' has nothing to do with the market price of Bitcoin, let that sink in. But it wouls have a possibility to void the usage of Bitcoin once the situation get worse. How? If the crisis would be more intensified it would cause havoc. Familiar with what happens to movies? People would tend to no longer give importance to money if ever such thing would happen. It will be a matter of survival, but let us hope we won't get to such scenario. When it comes to the market price, we have observed at the moment when NCoV arose, no changes were made in the prices of cryptos including Bitcoin. This shimply shows lack of relationship between these two variables. People should really cut these assumptions.

[Yatsan]

Guess people are putting too much expectations with how Bitcoin is. A crash in economy would hit naturally hit BTC as well and nothing can stop that. Even if we did say hold BTC and kept buying them, if the economy crashes, the hodl'ed BTC would go nowhere,especially with how what is needed in that crash would be safe assets/havens. Yes, BTC is one of them, but it isn't at that state where you can completely trust it as one right now, maybe after a few years or more, but currently? Nope. I guess people are taking into account long term problems and solutions instead of short term ones.

[TheAndy500]

this global pandemic is here to stay

cash will carry virus, so bitcoin is the way..
economy is falling down, stocks in red , bitcoin is the way.

people are selling crypto like any other asset. you have to believe, the days of crypto has come..

sell all your stocks and buy bitcoin
use 90 percent of your cash to invest in bitcoin.
sell all your real estate , they will be seized by government for free for building hospitals, just like in china.

so sell everything as fast as you can and buy cypto...

buy supplies and food for atleast 3 months. fill gas in your vehicle.

I also think that part of the capital that investors take from classic exchanges will come on the cryptocurrency market. However, I think that these funds will hit the cryptocurrency market in a few months after the quarterly reports are released. Then real panic should start on the stock exchanges. At the moment I think that are still not the worst drops. I think that by the end of March the price of Bitcoin may drop even to $5k. Of course, this is only speculation, because it is possible that investors will see the potential of cryptocurrencies faster and prices will start rising in April, but it is unlikely that the situation will improve before halving.

[Harlot]

I'm always about positive opinion towards Bitcoin but what you are suggesting right now could be something that others would regret following. I mean come on man, sell there houses to buy Bitcoin yet you also suggested for them to buy food worth of 3 months as well as gas for their cars?  If we are setting our priorities straight wouldn't you want to have a secure house to live in to protect yourself against the outbreak? It is just common sense why would you sell your house just for you to buy Bitcoin right now when we have so many unconfirmed cases as well as we are clueless on how the virus can transmit. I would encourage people buying Bitcoin but only in a way they can afford it without losing the basic necessities of living.

cash will carry virus, so bitcoin is the way..

Washing your hands thoroughly is the answer, not contactless payment

Also don't mislead people with only the things you know contactless payment isn't really the answer here, there will be no guarantees that you'll be safe from the coronavirus just because you are using Bitcoin.

[Raflesia]

Selling all assets then how can I use that money everyday?
Of course, if some assets can be sold and then buy crypto as a safe investment, but is it possible whether this virus will be there continuously? I think the real investment is also important to do and not sell at will it is not good because someday it will definitely be back to normal but if buying crypto is only part of it to feel the profit in the future.

To supply food, of course it must be done earlier.

[Febo]

sell all your stocks and buy bitcoin
use 90 percent of your cash to invest in bitcoin.
so sell everything as fast as you can and buy cypto...

If you fell like trading, then I doubt today is best day to buy.

sell all your real estate , they will be seized by government for free for building hospitals, just like in china.

LOL like any other government is as efficient as China to be able to make that happen.

[TheAndy500]

sell all your stocks and buy bitcoin
use 90 percent of your cash to invest in bitcoin.
so sell everything as fast as you can and buy cypto...

If you fell like trading, then I doubt today is best day to buy.

With such large price drops, this is actually not the best time to buy. I think it is better to wait at least a few days for the situation to calm down. However, in my opinion the price will fall at least until the end of March.

sell all your real estate , they will be seized by government for free for building hospitals, just like in china.

LOL like any other government is as efficient as China to be able to make that happen.

I think North Korea and and the greatest leader Kim, would be able to do even more, including the complete "disappearance" of owners 

[gentlemand]

Bitcoin is going to get boned up the arse just like everything else. It'll eventually come back just like everything else too. Until then it's going to have a few more scares in store.

The only upside until the actual upside will be turning more people off normal money and on to alternatives that aren't the playthings of the desperate.

[Kelvinid]

With such large price drops, this is actually not the best time to buy. I think it is better to wait at least a few days for the situation to calm down. However, in my opinion the price will fall at least until the end of March.

It will probably this will continue to drop in the coming days or maybe until the issues have resolved. It is quite to think that people are selling it now just to use their Bitcoins and other cryptos for their needs because it might possible that there is a problem in regards to money cashout from the banks and this their option to take. Only I hope that it won't getting and every crypto holders that are in need today will never sell it badly at low prices coz this will trigger for a huge market dump and turn into bearish again.

[adaseb]

Very hard to tell whether this is a troll post or not. Its pretty crazy thinking people are going to sell their real estate because the government might move in and use it as a hospital. So far from what I read, some state bought an old hotel to use as a quarantine place for a few patients, they didn't seize anyones property. And in China they just put people in student dorms because they needed space, and students never owned those dorms, they just rented. Its bad how they threw out all their personal belonging however on the street but it was a desperate time.

Also what is the point of filling your vehicle? Most people drive alot and after a week or two they are out of gasoline anyways, what are you going to do? Buy some large cointainer to store 500L worth of gasoline for the next few months? I think in times like this people are just selling assets to have available cash and not buying risk-on investments like Bitcoin.

[mahilchii]

Expecting too much will lead you to disappointment, the recent drop is an opportunity to buy crypto coins and I am planning to do the same rather than worrying on it. Panic sell will still lead you to go down more, so either to buy or just hold is a unique way to save our investment. Most probably the prices will slowly go up by the end of this month.

[TheAndy500]

With such large price drops, this is actually not the best time to buy. I think it is better to wait at least a few days for the situation to calm down. However, in my opinion the price will fall at least until the end of March.

It will probably this will continue to drop in the coming days or maybe until the issues have resolved. It is quite to think that people are selling it now just to use their Bitcoins and other cryptos for their needs because it might possible that there is a problem in regards to money cashout from the banks and this their option to take. Only I hope that it won't getting and every crypto holders that are in need today will never sell it badly at low prices coz this will trigger for a huge market dump and turn into bearish again.

I think this is the beginning of the short-term bear market. I think the situation will not improve until halving. It is possible that when companies start making quarterly reports, it turns out that there is an economic catastrophe and people will start withdrawing capital from classic exchanges and buy cryptocurrencies, but this may happen at the earliest in a month, maybe two. Thats why my opinion that by the end of March prices will rather fall.

[Viscore]

I hope corona will be stop soon, I wasn't really expecting it will go worse that people will be walking dead like zombie, at least I don't want that to happen just to see bitcoin will rise. Now, to you question, I think it's still too early to see bitcoin will rise, and that means the crisis is not yet a major threat globally, in fact in our country, its business as usual, there are some warnings but people are still living their lives like normal.

[buwaytress]

As most countries already going cashless (including some surprising ones you might not have first thought of in developing economies), you only need to digitalise and work through low-tech devices. Especially since smartphones we take for granted aren't actually as widespread in the populations that need digital cash the most.

And until there are good alternatives in fintech with normal fiat, I wouldn't recommend using crypto or bitcoin as a replacement... yet. Doing so would be getting it all wrong.

[Vectra]

I hoped Bitcoin would be a hedge against economic recession, but it looks it's very correlated unfortunately. That's not good as we're definitely going into recession and btc never existed in bearish economy