Do not blame it on Corona outbreak

[Reid]

Oh thank you!
I have the same opinion.
It is just that the virus is going viral and then a sudden plunge in the bitcoin price which happens all the time with or without any virus, war or whatever event is going on the world.
If it is not about crypto currencies then it should not be connected with it.

For example: Satoshi suddenly comes out.
Yeah, that would mean a lot of movement in bitcoin price.
Fear of selling or the hype of buying more. 

[Xampeuu]

Am surprise many people are blaming the recent decline in the price of bitcoin on the outbreak of Corona Virus. It is just a normal occurrence in recent times to see the price of bitcoin falling.  I don't just see how Corona Virus is being speculated as one of the main causes.

If this would solely due to the corono virus outbreak, we would have see the price slowly declining, but that didn't happen, the price has suddenly dump so we can't blame that to corona virus as it's already here even when the times bitcoin was still pumping.

this maybe the reason :
https://beincrypto.com/plus-token-scam-dumps-another-13000-btc-118m-may-be-responsible-for-bitcoin-drop/

That's a huge amount of Bitcoin to dump.although it's a good opportunity to buy Bitcoin, but we should not let this happens authorities should stop this scammers from dumping their loot, there should be a way to track where this coins are coming, they are using mixer that is why authorities are having a hard time exposing these scammers.

I don't think corona is causing this big dump. because we see when corona appears and booms, bitcoin is actually increasing. so I don't think corona has a big influence on the development of bitcoin. but we also see gold going down sharply with almost the same time as bitcoin, it could be whales in action again after all this time sleeping

[Iyanu14]

Anyway, it might be some coincidence, but in as much we are still in this world, I think whatever that have the ability of affecting the world could also have some influence on cryptocurrencies.  It is true that some unidentified looters of Bitcoin may be dumping it. But when the economy is down too, those with crypto assets may want to sell it too to get some recovery, at least you sell what you have to get what you need. I think both have a way of interconnection though might be little.

[Vishnu.Reang]

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

Check this article from CoinDesk:

https://www.coindesk.com/bitcoins-sharp-price-drop-may-have-been-prompted-by-100m-scam-selloff

It claims that a massive dump, worth more than $120 million from the PlusToken scammers was the real reason why the cryptocurrency prices crashed. I can't vouch for the authenticity of this news article, but I regard CoinDesk is a reliable source for information and news related to cryptocurrencies. The impact from Coronavirus may have had a limited impact on the cryptocurrency market.

[TanakabZX]

It's already been said on the internet that scammers are responsible for the price loss, they dump huge number of Bitcoin that's why the price goes all the way down, the name of the scam is plustoken and it's one of the biggest ever in crypto space followed by bitconnect

[Wildwest]

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.

[cahbagus555]

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 outbreak makes the supply of goods worldwide hampered and this disrupts the world economy. I think the fall in stock prices or the value of money and the current price of crypto because investors prefer to wait and see

[lienfaye]

There's another reason behind this sudden downtrend of the market and its not because of the covid-19 outbreak.

Some people are connecting the market's situation in this illness because its a global issue that might affect the economy of each country.

If you started to sell your assets to buy medicines or goods in relation to this virus then it will have an impact to the market depending how many coins you sell.

[Yudhisthir]

We should not be as surprised as the current conditions are adverse to global economy. The stocks are crashing around the world. Gold is the only asset rising while the trade war has brought crude oil price down. China is recovering quick while the rest of the word are just starting to suffer. USD have risen to some extent but US economy is still in risk as there are much more unknown cases in US than anywhere else.

[Polar91]

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

Accept it or not, corona virus outbreak did affected the eonomic state thus it affects the market too. It can't be denied because the stock market are struggling too because of this outbreak. You may check it here: https://www.google.com/amp/s/www.cnbc.com/amp/2020/01/22/alphabets-1-trillion-mark-doesnt-signal-end-in-big-stock-gains.html

As you can see, it's not just a coincidence that the market both crypto and stock are struggling. There should be a reason and the biggest issue that we are facing is corona virus. It does makes sense. We should accept it.

[akwfleaspirit]

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 are perfectly correct, in some way, but truth be told, many crypto whales live in China and if they have such outbreak of virus, then it will definitely affect the crypto market, it's all over the news on how it's affected the economy and as many has said, I still believe one way or another, it has a great impact in market/economy. Hopefully this pass and the crypto space gain back it's balance.

[strunberg]

There's another reason behind this sudden downtrend of the market and its not because of the covid-19 outbreak.

Some people are connecting the market's situation in this illness because its a global issue that might affect the economy of each country.

If you started to sell your assets to buy medicines or goods in relation to this virus then it will have an impact to the market depending how many coins you sell.

i think there are two reason why market suddenly crash, corona virus and tokenplus scamming that sold around 12k bitcoin. market be panic when they see soo many bitcoin sold in market, they just worry whales quit from cryptocurrency. and it not happen to crypto market, finance market also feel fear with this corona virus. people maybe prefer hold fiat to fullfill their need to overcome this virus.

[OasisDre]

I don't know what to belief anymore, Coronavirus did affect the market and plus token scammers brings another heavy blow to the market by selling off 12-13k pieces of bitcoins, but actually if I have to judge this i will say Bitcoin getting drown by 13,000 pieces is bullshit where as the max supply of Bitcoin is 21million

[Jating]

Oh well, there's a lot of going on not just in crypto but in the whole world as well. There are political tensions, trade and oil wars and lastly the effect of the corona virus. So in a case, everything is connected, traditional markets and crypto currency.

We can't say that it is all about the corona outbreak, but definitely, it is one contributory factor that really led the whole market crashing down because of fear amongst people, not just ordinary or average folks, but even to those investors alike.

[Google+]

Oh well, there's a lot of going on not just in crypto but in the whole world as well. There are political tensions, trade and oil wars and lastly the effect of the corona virus. So in a case, everything is connected, traditional markets and crypto currency.

We can't say that it is all about the corona outbreak, but definitely, it is one contributory factor that really led the whole market crashing down because of fear amongst people, not just ordinary or average folks, but even to those investors alike.

I found the article earlier why many of the downward world economies were not from the corona virus, but there were some cases such as the case of oil in an Arab country that did not find a clear meeting point that made the king of the Arab countries angry and made oil prices so cheap and ultimately had an impact on the price of cryptocurrency and the world economy shook immediately.

[Mulann2]

Maybe you are right. This dump is not because of Coronavirus, because all these days we have been saying that the bitcoin price has increased because of Coronavirus then what happened suddenly people are changing their opinions and blaming Coronavirus? I think recent dump in the crypto market is manipulation by some big whales so they can fill their bags before the halving! Personally, I think this price dump is for a limited time, after a couple of days, the crypto market will go up surly!

Because it is clear that people don't really know the cause of the dump, if it is corona virus related or just an already design time for the market to dump, in my opinion, just like the op, i think the market was already at the stage of correction then the case of corona virus happens, this is an observation on the cryptocurrency aspect,
and as for the stock market, i think the virus may play a role in the dump, since this kind of news does affect the economy of a country it is most likely the virus is causing the stock market to witness this melt down.

[bitgolden]

I do blame corona outbreak but not because of the downfall of bitcoin or any other crypto, I am blaming it because it has created this huge fear in people that of course trickled down to financial world as well when it shouldn't have. There are companies who have nothing to do with corona or even peoples deaths that has gone down as well and that basically shows how fear works as well.

These companies like for example steel company I have a stock on, dropped in price whereas their sales have gone up so far in the recent months, meaning they are actually making more revenue and more profits but their stocks gone down, why? Because people sold, if the company is making more profits while the stock price goes down, that is a perfect reason to buy it and not sell it.

Same type of logic could be said for bitcoin as well even though there is no sales, there is no reason for it to go down as well.

[NavI_027]

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

I believe this is not a coincidence, everything happens for a reason. If the spread of Covid 19 contribute a lot for the sudden reduction of carbon emissions of China then what more for its economy — what more for the Chinese crypto whales. Bur honestly this is not what I expected from the very start. I thought we can see silver linings on the recent happenings but there's none. What I think of is that people tend to be more active in front of their computers and focus on trading but I'm all wrong. What seems right now is that most of them are immobilized thuse becoming unproductive .

[Finestream]

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.

[princesspoppy]

I think corona virus not only affects the declining of cryptos but as well as the whole economic system of the world. Necause of the outbreak, many people are afraid for their lives and are starting to stay at home, mang establishments are closing that results to decrease in employment and works, that results to economic crash. This may also be the reason why people are starting to convert their cryptos for fiat currencies, in order for them to have tangible money they can use in crisis like this.