COVID-19: Do not worry the market worry on people.

[Eugenar]

As we all know bitcoin is starting falling, do you guys believe that COVID-19 affected this thing? I have read some threads that is somehow related on it and they keep telling that COVID-19 affected the market, they are really panic because the market is start falling and may affect their investments and trading transaction, which is not good for them. About this investing do not worry about that because you may still hold your money until it backs to pumping.

The thing is do not worry the market worry on people, there are so many affected people and areas about this COVID-19, there are a lot of suspended school classes for how many weeks, which is not good for all the students out there, there are a lot of affected workers, company workers, labors because of this virus, which can really affect our economy. Worry about people because if traders in this virtual world will be affected because of the virus then for sure our market will goes down.

I am really hoping that this virus would have a cure as soon as possible, this is really a serious thing,

[Febo]

It is recession fear. Why? Because in last 100 years recession on average come in about every 8 years. Now already 12 years passed from last one. A lot of things already happens last year to predict recession. Now with world economy going on halt on many parts of world recession is very possible.

[Ucy]

Well, our market don't have to go down. If we build a good decentralized system, we won't go through what others are going through except when we come out to help those in need. Building a great decentralized network will also help save alot of people that ordinarily would've been lost to dependance on typical centralized systems. So I prefer to be very committed in decentralized crypto project/projects.
We still have some time to do things right.

[Twentyonepaylots]

The worry starts with people since people are the one responsible for everything in here then it reflects to the market. It is been a long talked, if the corona virus did take affect the crypto market, In my opinion, yes it does however the movement is going to the other way. I expected the price to go up after seeing the outbreak thinking people would use crypto for payment in many case but it seems like we are all wrong, the price is continously declining in what direct reason? we still don't know and we'll not know.

[Yatsan]

The worry starts with people since people are the one responsible for everything in here then it reflects to the market. It is been a long talked, if the corona virus did take affect the crypto market, In my opinion, yes it does however the movement is going to the other way. I expected the price to go up after seeing the outbreak thinking people would use crypto for payment in many case but it seems like we are all wrong, the price is continously declining in what direct reason? we still don't know and we'll not know.

I think Corona virus didn't affect the cryptocurrency considering that, it's not a threat to any cryptocurrency and we have nothing to do with it. As you can see now, the stock are taking all the damage from it because, they have a real-life establishments that will suffer from the virus from the lack of customer's all around the world.

Empty transportation vehicle, people losing jobs, No tourism and lastly global markets that are crashing. That is basically, what corona virus is affecting, with regards to crypto it doesn't have any effect since it's on the internet and no real-life asset could take the damage from the virus.

[dioanna]

Actually I haven't look at exchangers nowadays, my attention is on the current situation here in our country about the virus.
We really can't help but worry coz it is getting serious.

[hahay]

Not sure this corona virus or COVID-19 really affected the collapse of the crypto market, because this market works online and the markets affected by this virus are at least traditional markets or other physical forms, and if they switch to the crypto market then it's likely large prices will rise significantly due to increased demand and a large number of transitions.

[kawetsriyanto]

Not sure this corona virus or COVID-19 really affected the collapse of the crypto market, because this market works online

Indeed. Crypto market works online and it should be no problem with the coronavirus. I agree that it won't bring significant impacts to the trends on crypto market. But it probably has an impact if many crypto traders or investors get infected by the virus. It will make them not active in crypto market temporarily or forever. I assume people who said that coronavirus affects crypto market in this way.

[Twinkledoe]

Not sure this corona virus or COVID-19 really affected the collapse of the crypto market, because this market works online

Indeed. Crypto market works online and it should be no problem with the coronavirus. I agree that it won't bring significant impacts to the trends on crypto market. But it probably has an impact if many crypto traders or investors get infected by the virus. It will make them not active in crypto market temporarily or forever. I assume people who said that coronavirus affects crypto market in this way.

We can consider also those miners or mining farm with high percentage located in China. So if these mining farms will be temporarily shut down because the government told them so, I think it will have an impact in bitcoin's price. Also, those manufacturers of mining equipment and gadgets are subjected to this temporary shutdown. And the shipping around the globe will stop for a while to combat the spread of this virus. Though online transactions will not be affected but other factors in bitcoin-related activities are suffering.

One more thing, blockchain conferences are also affected by this. So we are expecting them to cancel such crypto gatherings and this is bad for those projects that wanted exposure in the blockchain community to get potential investors.

[Darker45]

Well, the market is basically something to worry about because it is all about the people. The market matters because it represents the people, their lives. When the market nosedives, it could mean people losing their jobs, losing their savings, losing the value of their assets and properties, and so on. The root cause, of course, is the virus. The direct effects are the closed shops, factories, stores, hotels, tourist attractions and so on; cancelled flights and ship travels; draining of stocks for selling; and so many other effects. All this will certainly hit the people hard.

[CHENIEN]

 The most important is people because life is more useful than money which is easy to find, but the life when lost we can't be restored, so if the percentages of miners were normally completed in their position the impact of bitcoin's price will be more further restricted formally. According to the newsbreak sources, the prediction of coronavirus can still reach up to April 2020 Probably, I think it makes sense to the people assume that traders are back to worrying, however, it is a commonplace where this is not new in the crypto world, it is impossible to avoid which is included in the business transaction.

[Gozie51]

The direct effects are the closed shops, factories, stores, hotels, tourist attractions and so on; cancelled flights and ship travels; draining of stocks for selling; and so many other effects. All this will certainly hit the people hard.

This is now worrisome. The effect is now deprive people of fun and normal living. In sports now, so many games have been cancelled and some played without fans  coming to watch.
Some countries too I have read are burning their fiat because of presumed contact. I hope the world would soon go pass this health challenge.

[stomachgrowls]

The direct effects are the closed shops, factories, stores, hotels, tourist attractions and so on; cancelled flights and ship travels; draining of stocks for selling; and so many other effects. All this will certainly hit the people hard.

This is now worrisome. The effect is now deprive people of fun and normal living. In sports now, so many games have been cancelled and some played without fans  coming to watch.
Some countries too I have read are burning their fiat because of presumed contact. I hope the world would soon go pass this health challenge.

In my lifetime, this is the first time i do experience where a kind of virus did really give big effect worldwide where it do already comes to a point where it affects traditional operation and hobbies etc.

This is indeed a worrisome thing if this wont be still resolved in more months then we can expect a further or severe situations compared on what we have seen at the moment.

Im not really concerning into market or economic situations and i agree into on op's points that we should be worry on humanities situation.

[FlightyPouch]

I think people are overreacting since they thought that if people are having a hard time dealing with transactions and money because of this epidemic, they might sell their bitcoins and affect the price negatively. We should not be affected in terms of our crypto currencies, this virus is not directly affecting the price of bitcoin if it was the reason of the dump it should've dropped earlier when the virus is just starting.

[imstillthebest]

I think people are overreacting since they thought that if people are having a hard time dealing with transactions and money because of this epidemic, they might sell their bitcoins and affect the price negatively. We should not be affected in terms of our crypto currencies, this virus is not directly affecting the price of bitcoin if it was the reason of the dump it should've dropped earlier when the virus is just starting.

but its not the case that happen . the price of bitcoin increase more right after the start of virus  but the price drop after several days   . that is because no people are not affected yet but eventually it spread fast and affect the people severly  .

i think over reacting is part of thier plan because they want the prices to drop so that they can  accumulate the item easily   . if the drop of the price affect cryptos then we should be happy because  this what were all waitin for  .

[dothebeats]

This just goes to show you where the focus of everyone is: money and profits rather than the welfare and eradication of the virus. Though the governments and private sectors are working closely towards finding a vaccine to the said virus, those directly affected are still trying to make a buck or two out of the pandemic, which sucks since they can't use the money if they are dead. The market can surely recover after all these events are over, but what about the lives which are at risk? The crypto market and the conventional markets will still remain even if the virus goes full-on rampage. People's focus should be on the prevention of the spread of this virus and not making profits over someone's doubts and miseries.

[exstasie]

Not sure this corona virus or COVID-19 really affected the collapse of the crypto market, because this market works online

Indeed. Crypto market works online and it should be no problem with the coronavirus.

You're ignoring the bigger context. BTC valuation is dependent on more than Bitcoin working online or markets trading 24/7.

This is the theory: corona virus causes recession, recession causes risk off investment period and job/growth losses. Risk off = investors are risk averse, selling risk assets like BTC (or equities, commodities, high yield securities) in favor of cash. Job and growth losses = pressure on BTC holders to sell (more supply) and less disposable capital to invest (less demand).

That's why a corona virus induced recession will be bad for BTC prices.

The market can surely recover after all these events are over, but what about the lives which are at risk? The crypto market and the conventional markets will still remain even if the virus goes full-on rampage. People's focus should be on the prevention of the spread of this virus and not making profits over someone's doubts and miseries.

I can sympathize with that, but it's also easy to say that as a spectator without much skin in the game. There are people whose financial well being and careers hang in the balance based on what the markets do.

[princesspoppy]

I can't say that COVID19 really caused the declination in bitcoin's price, but I can say it is possible. People affected by this virus tends to stay home - classes are suspended as well as employees work are taken to their homes. Without the circulating works and transactions, businesses will crash and it may really lead to recession. This recession can affect the economic status in a very not so nice and negative way just like what is happening to the stock market and maybe to crypto market as well. If this virus ever continue and spread more, people will surely be left no choice but to cash out fiat money from their banks and any investment they have just to have extra money for their everyday use.

[Baofeng]

Covid-19 has already put a lot of selling pressures not just on crypto market, but almost every traditional market all around the world. Just in Asia alone, stocks are plummeting because of the scare, so indeed everyone is affected, average joes' like us and huge whales around causing them to sell. So we can't really tell not to worry about it because we have seen the effects already. Here, new cases are discovered, classes are suspended and everyone are afraid to get out in fear of infection.

[awik p]

the big force that drives the market is the human mind. today many people are worried about the corona virus, which paralyzes the economic sector, so that concern becomes a force, where many people take the same action, so the market moves significantly