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

[Strongkored]

There is always optimism that BTC will rise again but no one can know the exact time or roughly how long it will rise again, because it turns out that the 14 days that we often hear to do quarantine is not the actual time that this virus will actually clean from a country, that only time is used to reduce the spread of the virus, because if its spread is not slowed then the hospital will not be able to accommodate covid-19 patients resulting in increased death and makes markets around the world panic and it will be difficult to carry out recovery when the virus is already can be solved.

[maydna]

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.

The scientists do not yet found the vaccine, and I think they still trial and error and find the right formulas to cure the virus. It is not easy to find the vaccine as they need to test before they can conclude and spreads the vaccine to people out there. It is affected by all things in all countries, not just crypto but as you said, it is affected too with the stock market.

But if these virus continues to spread we might be see a possible end of traditional money and Bitcoin taking over.

That can be possible to happen because if they use crypto, they can buy something and pay the cost from their home so that product can be sent to them directly after they receive the payments.

[Negotiation]

You are right but now it is not just Italy or Spain but the number of Coronavirus is increasing No one can tell if it will be prevented. Usually the price of bitcoin has dropped so much because of the Coronavirus, but if it is possible to control it then the market will return to its previous state In fact no one thought that the Coronavirus would have such an impact on the country's economy.

[BuNga_cute]

The corona virus not only made the price of bitcoin fall far enough, but it made the world economic crisis. This is a real problem, it must be
quickly find a solution. Regarding bitcoin which fell due to the spread of the corona virus, I'm sure bitcoin will soon rise. Price reduction
now just because the market is panicking for just a moment. Over time everyone will realize that bitcoin will be the solution in the midst of
this problem. If bitcoin is used as a payment it will be very good, because bitcoin transactions do not have to be physical contact. So we can
avoid corona virus transmission.

[bitgolden]

Unfortunately world economic problem is not a thing we are unsure about, it will happen and it will hit hard, very very hard. Governments are literally talking about how they could potentially help people out right now.

In 2008, the crisis was due to banking and mortgages and all, and there was even some morons who got paid by banks talked about how "banks went bankrupt because people didn't paid their mortgages, so the taxes they paid should go to banks in order to save those banks from the doom those people created" and that is by far the most morally and ethically disgusting defenses ever.

However, this time ALL people are affected and not just some business, with 800 billion dollars like last time (or even 1.2t this time) you can literally pay every single person 2000 dollars in USA. You know things are going horrible when countries are talking about giving out free money to people because economy will literally shit the bed unless they do.

[ethereumhunter]

I hope OP can see that today, bitcoin price can rise again and break $6,000, and we hope that the price does not stop for breaking another higher rate. The candle still gets the green candle and the price still trying to go up. I think there is a war that happens in the market, so it will be excited to wait and see what will happens later while we can also enter the market to buy or sell. But still, be careful because the price cannot be predicted.

[MWesterweele]

I hope OP can see that today, bitcoin price can rise again and break $6,000, and we hope that the price does not stop for breaking another higher rate. The candle still gets the green candle and the price still trying to go up. I think there is a war that happens in the market, so it will be excited to wait and see what will happens later while we can also enter the market to buy or sell. But still, be careful because the price cannot be predicted.

I believe this happening right now in Bitcon is another reason to stay still from being connected in crypto because I know the rising day will come soon. Just keep believe and keep believng because I know patience is the key to be succces in any aspect of crypto. And even the Corona Virus has effect to Bitcoin price down, still we need to keep believe to its ability to rise even to its huge dumping to its value.   

[ethereumhunter]

I hope OP can see that today, bitcoin price can rise again and break $6,000, and we hope that the price does not stop for breaking another higher rate. The candle still gets the green candle and the price still trying to go up. I think there is a war that happens in the market, so it will be excited to wait and see what will happens later while we can also enter the market to buy or sell. But still, be careful because the price cannot be predicted.

I believe this happening right now in Bitcon is another reason to stay still from being connected in crypto because I know the rising day will come soon. Just keep believe and keep believng because I know patience is the key to be succces in any aspect of crypto. And even the Corona Virus has effect to Bitcoin price down, still we need to keep believe to its ability to rise even to its huge dumping to its value.   

Yeah, the rising time for bitcoin will come, but before we go there, we need to enjoy for what will happen with bitcoin. We can buy more bitcoin if we see the price is down and then hold it for a while, but we can watch the price moves without doing anything. Believing the bitcoin power will help us to stay calm and not worry about the volatility of the bitcoin price. That is what we need to do if the price is up and down like today.

[whyrqa]

I am sure that what is happening on the cryptocurrency market is primarily due to the manipulations of speculators and certain groups of cryptocurrency users who, as always, manipulate the market for their own benefit.  I am sure that the coronavirus epidemic negatively affects the economies of different countries and the income efficiency of not only medium but also large businesses.  I believe that coronavirus will be the main causative agent for the next economic crisis around the world and cryptocurrency, as before, will become the most demanded for every major businessman, as well as for the whole society.

[roosbit]

We are all saying corona virus but the real problem here is panic and uncertainty of what the future holds especially life to live on if infected.

But places like China seem to be containing the virus so does that mean they get to put their economic problems back in order? I don't think so.. you need other players(countries) to participate and that's not happening so this pandemic will be with us for some time as some countries are now experiencing the pandemic and a price recovery is not on my cards anytime soon.

[mersal]

Not only China,almost every country is facing this issue and getting hit on their economy because people have no money to spend and even if they have they are not allowed to ram everywhere due to this virus but countries concentrating on health over economy so later they can able to recover from the crisis.But the price of crypto currencies able to recover as well in very short time but didn't reach the full recovery but hopefully in one or two month we may see full recovery on its value.

[Wexnident]

Initially, tbh, it could've been controlled. Sadly, China failed to realize the possible repercussions of letting it roam free at its initial phase, hence the immediate spread of it towards other countries. Not only that, they only realized it when the number of cases has numbered over a hundred or 2. Sure, even if we do say that they quarantined everyone, some may still have escaped. BUT the idea of having alerted the country towards the damages this virus could cause, countries to become more avid in deploying resolutions so as to prevent its spread.

Additionally, I doubt the virus itself was the problem for BTC drop. Especially since if you were to look at it, the virus couldn't even touch BTC even if it wanted to. Sadly, the virus could affect the mind sets of the traders, hence the massive panic which resulted in the massive sell out of BTC, which lead to a huge crash of more than 50%.

[coinfinger]

Well, the drop is no longer 40% so we can take a big deep breath and calm down. I know people want to see bitcoin crash and burn because that would be great for their confidence, they envy that they couldn't make the profits we have made so far, they couldn't get in as early as we did and whenever they themselves tried bitcoin just happened to go down so they are basically hating on bitcoin from all angles right now.

However in reality bitcoin is doing great, it will continue to do great as well, that is just what bitcoin is and that is just what bitcoin does. Price drops will always happen, it has happened before as well but we recovered, we will recover from this too, we even recovered big parts of it and just a small tiny part left which will happen in a few days for sure.

[cassavachips]

This virus spreads almost all over the world and certainly causes everyone to panic, investors begin to withdraw their investment and sell bitcoin to help everyone or their own families. But today bitcoin is back strong and the market has slowly recovered

[el kaka22]

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.

We are going to see something MUCH MUCH MUCH worse in the future because of this time, the real trouble hasn't been felt just yet, it has been just mentioned so far, the real trouble will come with a huge rage and we will have nothing we can do to prevent it. All those profits that companies needed to actually continue? They are all gone, when those companies have no profits and get losses, the first thing they will do is fire more people, that moment we will realize the real crisis.

[Hulhala15]

The situation with the virus is now so ambiguous that it causes great excitement in the market and it fits perfectly into such events. They never go away without a trace, on the other hand, I would like to note that it is those who start to panic against this background that create no less excitement. It seems to me that there is little we can do at the moment and we should be observant. The fall in the value of some assets is now inevitable, as is the growth of others. And I don't think that any of these companies will go bankrupt, the negative changes are more likely to affect small and medium businesses, that is, companies that are currently engaged in unpopular goods or services. The levels of large companies are quite confident now, so we can make money on it, but still do not panic.

[acdc]

The corona virus is difficult to control, because it can be incubated for a long time before being detected. So I think the epidemic situation will be very bad before we can make vaccines.
There are many opinions that the epidemic situation can cause worse effects than the 2008 economic crisis, because the epidemic situation makes almost all business and production activities become stagnant.
When the economy goes down, the amount of money invested in the cryptocurrency market will fall sharply and the market will face big problems.

[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.

[rexxarofmoknathal]

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

[cryptothreads]

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.