Do not blame it on Corona outbreak

[Sanugarid]

If anyone says the current price reduction in the effects of a korona virus it can happen because with this virus many activities in various countries are disrupted and I think it also impacts the crypto world, despite the impact on the world Crypto is not so true but trade is a little disturbed, we expect to be in the future this problem will be quickly resolved.

We can really say that it somehow affects the value of crypto at some point. As the outbreak occurs, transactions may occur less often. If we are going to look at the market value's rise, we can see that there's really an effect to crypto. We can hope that this phenomena would end soon so that things may get better for the world economy and for the crypto community.

Not everyone has the same belief, personally I don't blame that its only because of the corona virus, it's the sudden dump that started this dump and that's not due to the fear of the virus for sure, if that is due to the corona virus, we would see a stable decline but its not happening it;s a sudden one and it seems the market is slowly recovering now as bitcoin is back up to $8000 as of this writing.

Yes, corona is not the only one to be blamed for the sudden downfall of the market. There are other factors that contributes more to the decrease of market's value like the continuos massive hold of the whales which affects the value way back up until now. As the halving comes near, maybe we would see some improvements so let us just wait and hope that corona outbreak would soon end.

[wozzek23]

Alot of blogs and articles are referencing the facts that the present dip in prices is related to corona virus outbreak. But I do not believe so
I believe It's not just the virus, all these things were going to happen,
the virus just lit the match and acted as a catalyst

Hey, did you read what you wrote before posting it? You said Corona outbreak is not the cause of this fall and then you also said that it acted as a catalyst, lol what’s a catalyst if it’s not a cause? So, you’re still landing at the same point that everyone has been saying.

The thing is that Coronavirus outbreak is not the only thing that have caused the price of Bitcoin to fall this low, there are other factors that have also contributed to what we are facing now, but this is not going to be long and the price is already recovering quick. After it dropped it managed to get back up to $7900 yesterday and today it has moved up to the price rate of $8000. All these things are temporary, and since Bitcoin is a volatile asset there will always be times like this.

[Sendi blackspade team]

Alot of blogs and articles are referencing the facts that the present dip in prices is related to corona virus outbreak. But I do not believe so
I believe It's not just the virus, all these things were going to happen,
the virus just lit the match and acted as a catalyst

Hey, did you read what you wrote before posting it? You said Corona outbreak is not the cause of this fall and then you also said that it acted as a catalyst, lol what’s a catalyst if it’s not a cause? So, you’re still landing at the same point that everyone has been saying.

The thing is that Coronavirus outbreak is not the only thing that have caused the price of Bitcoin to fall this low, there are other factors that have also contributed to what we are facing now, but this is not going to be long and the price is already recovering quick. After it dropped it managed to get back up to $7900 yesterday and today it has moved up to the price rate of $8000. All these things are temporary, and since Bitcoin is a volatile asset there will always be times like this.

I don't think the effect is too great on the crypto market. Coronavirus is indeed disrupting the world economy but in the crypto market, it looks a little different. I still think the market looks stronger than last year. because as you said when it decreases it can get better soon. This market is doing just fine, there is nothing to worry about.

[kbhutto]

The coronavirus outbreak has become an international concern because the effects of the corona virus have left thousands of businesses completely stalled, not even operating, Now in a situation like this the crypto industry is also affected by the corona virus outbreak because the crypto perpetrators panic and sell assets so that prices plummet.

[semobo]

Alot of blogs and articles are referencing the facts that the present dip in prices is related to corona virus outbreak. But I do not believe so
I believe It's not just the virus, all these things were going to happen,
the virus just lit the match and acted as a catalyst

Its just only due to the corona virus,there is a whole shock on demand and supply on every country due to the manufacturing hub of the world China got affected most and also every investor wants to cashout their money and invest into gold or other store house of value so market is dipping but this is not possible with crypto market yet.

[DonFacundo]

I blame now the corona virus this present dip because the virus is slowly spreading in some countries and it's increasing the rate of infected. People will sold their cryptos and buy some things that can protected from corona or donate it. I'm very hopeful that we can see again the bull market because of the halving but now seems difficult to achieve it because of the corona virus.

[Ashong Salonga]

Alot of blogs and articles are referencing the facts that the present dip in prices is related to corona virus outbreak. But I do not believe so
I believe It's not just the virus, all these things were going to happen,
the virus just lit the match and acted as a catalyst

We all do have our different perceptions or views about the current situation of the market and we also do have different theories and here says on what is the real reason behind this downfall. Well, what I can say is that there is some how an impact on the crypto market regarding the continuous wide spread of the virus because people who uses crypto can also be affected on it so the effect of this can some how be related on the price down fall. Also, recently, I have heard and read in an article that there is this one exchange that dumps the price of Bitcoin which also affected the current state of the market. Maybe we are just seeing the different side of the scenario but there can really be a reason behind these happenings and it is already depending on us on which will we believe but let us just assure that the sources are legible and reliable.

[bttmember]

Yeah i agree with you, economies and businesses around the world were getting slow and big industries outcome was getting lower but suddenly this viral outbreak has proven to be the fuel on the fire and have just dumped almost all markets and looks like recovery will take time from here on.

[Destroyeroff98]

Alot of blogs and articles are referencing the facts that the present dip in prices is related to corona virus outbreak. But I do not believe so
I believe It's not just the virus, all these things were going to happen,
the virus just lit the match and acted as a catalyst

Coronavirus in any case has an impact on the economy and, accordingly, on crypto.
But this virus does not have the biggest effect on cryptocurrency. Cryptocurrency is now declining due to several factors.

[plast555]

We are considering the BTC as digital gold and a kind of asset class similar to gold including myself so whenever there is a war or some crisis money will flow into the gold or similar to gold from stocks. But in reality, if we compare the past charts both BTC and S&P 500 have some major correlation in the price movements I don't know the reason why but it's there. Everyone knows the global stock market is crashing because of the coronavirus and it's affecting the crypto market as well and commodities like oil are also taking a big hit on it.

I got to know about this correlation from a Youtuber Alessio Rastani in his recent video and he is a good YouTuber in this space

[South Park]

Alot of blogs and articles are referencing the facts that the present dip in prices is related to corona virus outbreak. But I do not believe so
I believe It's not just the virus, all these things were going to happen,
the virus just lit the match and acted as a catalyst

It is obvious that when it comes to such a fast decrease in the price you are not going to find a single reason since there are too many factors involved, in my opinion the growth itself was suspicious since the price almost reached 10500 without any significant volume increase, as such it was bound to go down on its own, however when we add the weakness the world economy is showing and the conflict when it comes to the oil production then this generated the perfect storm that caused such an abrupt decrease in the price of bitcoin and altcoins.

[DarkDays]

In reality, the coronavirus should be driving people towards assets that don't rely on centralized infrastructure to succeed, e.g. Bitcoin.

However, the recent downturn is likely related to a whale dumping swathes of BTC, or a lack of volume caused by a lack of interest in the market. I really don't think that Coronavirus scare has had any influence on the market whatsoever.

You need to realize that news outlets try to find whatever tenuous link to a crash they possibly can just so they can make the news.

That involves grasping at whichever straw is closest—which is the Coronavirus in this case.

[alani123]

I would agree with the sentiment in the OP but also consider that economy is multifactoral. Sentiment is more than action with BTC. Economic activity is shrinking IRL because of the virus and BTC is not a safe heaven. The extent at which BTC is affected by the virus is real. Just not as big as perceived IMO.

[kaya11]

I thinks it's more likely that the outbreak will help the price go up, what is your best reason why it is the reason of the current dip? If the a country falls, thee economy too, thus their currency. In order for them to save their money value, they would buy gold or other stocks outside the country, and one them could also be crypto currencies.

[XCANA]

Alot of blogs and articles are referencing the facts that the present dip in prices is related to corona virus outbreak. But I do not believe so
I believe It's not just the virus, all these things were going to happen,
the virus just lit the match and acted as a catalyst

You're right to have said this because, digital currency is far better than the fiats when it come to transfer of germs. Coronavirus hit some countries and causing them to remain in perpetual fears of the fiats transferring coins for one of to another as a means of spreading the varus among the humans. The stock market also give much decline, and the entire global digital currency will be next.

[Bohr256]

Yes, the Coronavirus had a hand in crashing the world economy, this includes the crypto sphere. To claim the opposite is outlandish. Furthermore, some of you claim it was because 'scammers dumped 13k btc,' really? Is the BTC so damn vulnerable that every time there's a dump, 0.07% of total volume in this case, the whole market is going to crash? If the system is so vulnerable and weak, then the whole idea of crypto is worthless and a waste of everyone's time/resources.

[doctor877]

It's a general world problem , not as if crypto alone is singled out.! What we hope is that funds moving from other markets will come to crypto as a safe haven but that is yet to happen. Howbeit, if the trend continues like this we might not pass our previous highs as this a very bad occurence.

[Kiefner]

I don't think it's because of the virus. Oddly enough, it did not have much impact on the cryptocurrency market. Therefore, it should not be blamed for the fact that crypto is falling in price.

[SaidNurs]

I think it's one of the factors that affect a country's economy, where with the outbreak there are many countries that focus on dealing with the epidemic so that the economy of a country affected by the outbreak of the virus

[Kotone]

OP do you know how to read or research? The statistics showing us is clearly a good evidence of being affected by the pandemic virus. First China rolled out their employees for a long time quarantine, this already means that everybody will be affected provided that Chinese are the main manufacturer around the globe and some of the companies on every countries ties up with them. Sorting od the delay, stocks would likely be going down and some investors are afraid to lose some value there and resulting to downfall. Same case with cryptospace where the investors also pulling out.