Bitcoin price drop 40% we thing causes "Corona virus" and world economic problem

[isaac_clarke22]

Corona virus just affected some portion of crypto space, but not the whole market itself. Some portion of this would be just the panics of people exiting the market due to the need to buy their needs as the lockdown is being done.
Many country, from what I've heard, started to quarantine their paper money to avoid the risk of further spread of the infection. I think people are stuck to cashless methods like Bitcoin and bank cards to buy their needs especially in those with a total lockdown.

[Kurokonobasuke]

The pandemic coronavirus effects a lot of things our lifestyle, jobs, businesses, habits and others. The price of the bitcoin could not save in this pandemic coronavirus, because as we can see when it spreads throughout the world many people are panic selling because of the price drop of bitcoin. I guess this crisis neither will it last long because when the cured was discover everything will get back to normal. But for now on, we must pray first to our God that this crisis will end up soon and for our health, because nothing is impossible if we trust all of these to God.

[MCDev]

I guess world economy hasn't seen anything just yet, I mean you do realize that we are living basically the same life in the economical sense as ever right? There are people who got laid off and that is the only party that actually felt this crisis, aside from them there is really nothing visible that has changed if I am not wrong.

I think we will see the devastation of the corona virus on the global economy quickly. Many companies have suspended operations, many international flights have been canceled, many countries have closed the border.
When the normal activities of the world become stagnant, the economy will surely be adversely affected.

Those areas where economic losses is seen is to be expected since economy is al about people and its country's GDP. What I'd like to point out though is that even in this stressful situation cryptocurrency is one again showing strength and eve more of a reason for it to exist. This is a perfect example why crypto is great and a system that is more robust than the current one

I agree that in catastrophic or war situations, cryptocurrencies have proved to be very strong and hard to be overcome.
However, I do not agree that cryptocurrencies are a more powerful system than the current system. The current system has existed for a very long time and it has many advantages, perhaps the cryptocurrency will catch up with the current monetary system but it takes a very long time.

[xZork]

I guess world economy hasn't seen anything just yet, I mean you do realize that we are living basically the same life in the economical sense as ever right? There are people who got laid off and that is the only party that actually felt this crisis, aside from them there is really nothing visible that has changed if I am not wrong.

I think we will see the devastation of the corona virus on the global economy quickly. Many companies have suspended operations, many international flights have been canceled, many countries have closed the border.
When the normal activities of the world become stagnant, the economy will surely be adversely affected.

I think that if this epidemic lasts a few more months, it will definitely cause a world economic crisis and this will only make things worse.

Without a vaccine, we never feel safe and hope that countries with highly developed medicine such as the US, Germany, and France will soon find solutions to prevent this virus. I am not afraid of corona but if I don't have the money to sustain my life, I will definitely be tired.

Yes, if the vaccine does not appear soon we will witness the collapse of the world economy.
Many countries will have to close, many companies go bankrupt and many people lose their jobs.
If the vaccine didn't show up, I think the epidemic would be more devastating than the 2008 financial crisis.