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

[Dorodha]

First of all, coronavirus highly attracted 'china' At first, it seemed to be just the problem of China but later on Corona virus became a problem all over the world. The main reason is that the virus cannot be controlled so far it has no effective preventive and outbreak. However, it seems to us that Bitcoin will revisit very soon That will be in a much stronger position than before.

Share feel free your opinion...

News
Italy faces mounting economic damage from coronavirus
https://www.ft.com/content/d0565f72-5fcf-11ea-b0ab-339c2307bcd4

[stomachgrowls]

First of all, coronavirus highly attracted 'china' At first, it seemed to be just the problem of China but later on Corona virus became a problem all over the world. The main reason is that the virus cannot be controlled so far it has no effective preventive and outbreak. However, it seems to us that Bitcoin will revisit very soon That will be in a much stronger position than before.

Share feel free your opinion...

News
Italy faces mounting economic damage from coronavirus
https://www.ft.com/content/d0565f72-5fcf-11ea-b0ab-339c2307bcd4

We have seen on how government do give out their efforts on isolating such case but this virus is way too hard to control.Why? symptoms cant be detected on earlier days before
a certain infected person do show up some signs but its already late because he had been with other people specially to his family,co-workers or people around him.
So controlling is almost impossible.

I didnt even expect that bitcoin or entire crypto market had been affected due to this and we do even see a price drop of 4300 as far as i remember a while ago.
Panic is there and no doubt with that but actually it is the right spot on accumulating that price point.

[Sirait]

I'm also very optimistic like you, I'm sure Bitcoin will rise stronger when this panic wears off.

Corona is the hottest news that is very interesting to discuss, it was not only Italy that felt the economic impact of their country falling because of Corona, other large countries that became tourist destinations and worship destinations such as Saudi Arabia felt the impact due to the spread of Corona.

[Findingnemo]

Coronavirus attack is real and it is getting out of control but the real reason for the economic crisis is not corona virus,its our panic mindset which made everyone sell their stocks and cryptos and resulted in a huge crisis than how it is supposed to be.

[thisnewcoin]

I'm also very optimistic like you, I'm sure Bitcoin will rise stronger when this panic wears off.

Corona is the hottest news that is very interesting to discuss, it was not only Italy that felt the economic impact of their country falling because of Corona, other large countries that became tourist destinations and worship destinations such as Saudi Arabia felt the impact due to the spread of Corona.

Yes, the corona is the hot topic now in the whole world and it's normal because people are dying every day! So, it impacts on the financial sector is beyond if imagination! Bitcoin's price is too much volatile that you can't say what gonna happen in the next 5 minutes. I have never seen this type of volatile nature in Bitcoin in 3-4 years! But again, I am.optimistic like you, I have faced the worst scenario already, so, right now I am hoping a bounce back before the halving!

[JeromeTash]

Bitcoin price can decide to go wherever it wants without the reason having to always be about coronavirus. What i have noticed in the world of economy is that people love to use panic to manipulate prices of commodities and assets.

Why is it that when the bitcoin price rises nobody cares or talks about what could have lead to the price rise?

[The Cryptovator]

Bitcoin price was still good during China attack by COVID-19. But when its become global problem then its start affect on global economy. Since Bitcoin isn't out of global economy so bitcoin price has dropped as well. It would recover but not going to happen very soon since COVID-19 still out of control. It's not just problem of China now, almost countries badly affected. So when this problem will overcome then most likely bitcoin will start recover at the same time if global economy.

[Wexnident]

The corona virus effect can actually be split into two, one being the virus itself and the other being the panic that it has currently caused. The economy was affected by the former naturally, especially by factories temporarily closing down to prevent their workers from being affected as well as aligning themselves with the decisions made by the government in terms of the quarantines done in their respective cities/countries. As for the latter effect, most of the affected ones would be the people panicking, especially those who would be willing to buy sanitizers/tissues/alcohol at a greater price than it originally was.

Bitcoin price would probably return to normal once a vaccine has made for the virus. The virus may take some time to subside itself, but once a prevention/treatment has been administered, the world would most likely understand that everything would most likely go back to normal, and well, naturally, the market as well.

[Jating]

Well we all know that the first outbreak really come from China, initially though they don't want to accept it and even suppress local doctors who first discovered it not to go to social media and leak information. But it's too late as the virus spread out in other countries and everyone has been affected.

And after that, all hell breaks loose, traditional markets, our beloved crypto's nose dived because of this. And it also means that indeed every economy is around the world is connected, that's why it really causes a lot of financial woes for every nation. So let's see how bitcoin will react if there is a new wave and the potential victims numbers grew exponentially in the coming weeks.

[CaVO32]

Well we all know that the first outbreak really come from China, initially though they don't want to accept it and even suppress local doctors who first discovered it not to go to social media and leak information. But it's too late as the virus spread out in other countries and everyone has been affected.

And after that, all hell breaks loose, traditional markets, our beloved crypto's nose dived because of this. And it also means that indeed every economy is around the world is connected, that's why it really causes a lot of financial woes for every nation. So let's see how bitcoin will react if there is a new wave and the potential victims numbers grew exponentially in the coming weeks.

just in, the coronavirus vaccine trial will start this coming Monday. but unfortunately, validating its efficiency will be a year to 18 months according to them. large number of population will be infected in that long period of validation. however, it is already good news that they already develop this vaccine.

https://www.marketwatch.com/story/coronavirus-vaccine-clinical-trial-starts-monday-us-official-says-2020-03-15

https://www.kiro7.com/news/trending/coronavirus-trial-vaccine-be-tested-monday/CZPXQYEFMZB5NCLRJPUSGKYOYQ/

and it might be true that this virus may infect about 60% of our global population. i hope respective drug manufacturers will release the vaccine commercially as soon as possible.

https://www.theguardian.com/world/2020/feb/11/coronavirus-expert-warns-infection-could-reach-60-of-worlds-population

[maydna]

Corona Virus makes all countries have emergencies, and the government doesn't let their people visit another place. The government suggests their people stay in their homes, and if they don't have an urgent thing that makes them got to go to other places, they better not leave their homes. That is for preventing the virus, and people need to care about their health.

And we knew that bitcoin has also get down deeper without we can expect, it could give the impact too with the crypto market because the other market like the stock market gets down too. But many people, including me, still believe that everything will be okay, and the vaccine for the virus will be found from someplace to help people.

The traders need to stay calm to see the market still unpredictable, and they need to manage their funds to prevent the loss. The market will be rise again, and the bitcoin price will increase and make the new highest price in the future. Meanwhile, we can buy more bitcoin in these situations so we can make sure that we will make a big profit when bitcoin price get ATH.

[Yatsan]

Bitcoin is still going down, and lot of global markets now are starting to dump also, The scenario this month is dump after dump, there's a lot of circuit break at the stock market right now. This virus is not just infecting people but also bringing down the community and it's economy. Here in Philippines we have cases of infected here and our Government just announce an enhanced community quarantine, no more transportation and no more jobs, we all people here should stay at home, this is for safety but when you analyze it, it has a drastic effect at out economy and it's very sad. I expect more dumps to the following days because of this crisis, I am hoping that this virus can end now and we can continue our normal lives.

[FanEagle]

Panic makes sense in places like China and Italy right now, in some other nations it has caused some discomfort as well, like USA for example or Spain and France and other places like that. However, I do not understand this global response to it. We are talking about a disease that has a 20x times recovery rate than death rate, we are talking about something that kills less than 2% people who got infected and most of them are 80+ years old as well.

Definitely, you can say that people do not want to get it so they wouldn't spread to elderly but I feel like they are acting as if they do not want to die from it themselves and they are actually hurting 80+ year old people by buying so many things and creating a panic, that panic could result with some death as well if those 80+ do not get what they need.

[TrevorS]

I believe that the whole world is only entering a decisive and critical stage in the fight against coronovirus.
The economies of all countries will be in great decline due to external and internal economic constraints in the country. In view of this, all markets will continue to fall, as well as cryptocurrency.

[rexxarofmoknathal]

I believe that the whole world is only entering a decisive and critical stage in the fight against coronovirus.
The economies of all countries will be in great decline due to external and internal economic constraints in the country. In view of this, all markets will continue to fall, as well as cryptocurrency.

I couldn't agree more with @TravorS. The virus outbreak is a real problem and what's even more worrying is that its spread is exponential, so its rapidness has seen several severe cases with quite a few already dead. The fact that every country's government is applying policies in place by means of reducing mass contact means a toll not only on the crypto market but the whole world overall.

On the positive side, the climate is benefiting from it, though it is a shame that this is caused by this devastating event  

[gaston castano]

First of all, coronavirus highly attracted 'china' At first, it seemed to be just the problem of China but later on Corona virus became a problem all over the world. The main reason is that the virus cannot be controlled so far it has no effective preventive and outbreak. However, it seems to us that Bitcoin will revisit very soon That will be in a much stronger position than before.

Share feel free your opinion...

News
Italy faces mounting economic damage from coronavirus
https://www.ft.com/content/d0565f72-5fcf-11ea-b0ab-339c2307bcd4

Yes, I think that coronavirus is one of the reasons why the market may fall so far, it was predicted because it spreads around the world, as a result, the sector cannot function and the economy is declining, not just in cryptography, but also in stocks and others also in decline.

Coronavirus attack is real and it is getting out of control but the real reason for the economic crisis is not corona virus,its our panic mindset which made everyone sell their stocks and cryptos and resulted in a huge crisis than how it is supposed to be.

of course it is natural, if people see the outbreak and the transmission is so fast that they panic, you may not feel like you are in a country that has been so infected by the virus, so you say you see it from only one angle.

[btcholder]

Corona wasn't problem when it was stayed in china. People start panicking when it was spared in Europe countries and after globalize. Well crypto currency is part of this world so if the hole world economy suffering because of this virus then it's genuine thing that corona gave bad effect on crypto currency also. Honestly i didn't expected this huge dump but you can't say in this situation how much will dump any currency for people panicking.

Hopefully thing is i hard this virus can't survive in hot temperature. So According to scientist corona will be vanish upcoming summer season. There is no doubt btc will rise again after that. Hope upcoming halving will be the bump target point.

[Stedsm]

I'm more worried about, how people, whether infected or not, will be able to manage food if some will get removed from their jobs due to the fact that employers don't have money to pay their employees because their Head officials have asked them to stop all the operations and wind up everything due to facing sudden miscellaneous losses based on Coronavirus outbreak. Even if Govs will provide food to our homes, it'll be for a limited time only and when our cities will look like burial sites because everyone is scared of this virus and nobody will come out, how will all of us manage to get food. A person earns to fill his stomach, what's the worth of our money when we won't have our appetite satisfied?

[pakhitheboss]

First of all, coronavirus highly attracted 'china' At first, it seemed to be just the problem of China but later on Corona virus became a problem all over the world. The main reason is that the virus cannot be controlled so far it has no effective preventive and outbreak. However, it seems to us that Bitcoin will revisit very soon That will be in a much stronger position than before.

Share feel free your opinion...

News
Italy faces mounting economic damage from coronavirus
https://www.ft.com/content/d0565f72-5fcf-11ea-b0ab-339c2307bcd4

You cannot rule out the damm virus and the economic problem predicted to happen globally. But, most of it is price manipulation by the whales. Bitcoin was invented after 2008 economic problem to tackle the centralized dependency. It is supposed to be immune from outside issues but there can be some effects as it's value depends upon fiat.

[Sadlife]

It seems that no one still is finding a cure for the virus even the best scientist in the world are still trial and testing vaccines and now that vaccine is on the early stage. Didn't expect it to affect Bitcoin though, it seems that the stock and Cryptocurrency market are correlated with each other.
But if these virus continues to spread we might be see a possible end of traditional money and Bitcoin taking over.