Coronavirus is very harmful to fiat currencies, not bitcoin

[Subbir]

Yes coronavirus isn't Bitcoin but the impact of the Coronavirus Bitcoin has been affected because the impact of the virus has reduced the investment and therefore the demand isn't very low. Now because people work more on decentralization than centralization coronavirus is far more harmful to Fiat currency than Bitcoin because Fiat centralization is within the current state of the art technology, we'll be ready to cure it.

[finaleshot2016]

You just ended in that kind of conclusion without looking or searching the other factors why COVID-19 affects all of the markets. Probably, COVID-19 or coronavirus does not really affect bitcoin but it affects the mining business in China that is needed to temporarily close to stopping the spread of the virus.

Obviously, there's a lot of effects due to COVID-19 and we can't conclude easily without analysis on the market graph. 

[bits4books]

Why wouldn't you put in more money due to high chances of all markets growth in nearest 2-3 months?

In 2-3 months imagine how many businesses will have gone bust and how many people will be unemployed. Entire industries will basically stop operating and I doubt there are many that can afford to shut down, wait it out and then fire up again as if nothing has happened. That aspect has only just begun.
Before that there'll be a lot of selling pressure from people who need to get through this period of time. Selling pressure now and no income to buy in future adds up to a pretty gross looking few months.

It may not be as bad as you describe - but who knows. And that's, why there will not be any BTC, rises to new heights. The price will rather hang at the current level + / - 1k. People will not have a lot of free money to invest in so risky assets. Conversely, they will sell crypto in search of liquidity

[pragna]

Have you seen how governments responded to the corona virus?

Quite simply, in Italy, the US and elsewhere, they will increase their budget deficit, and add debt. In my understanding, that's very bad for fiat currencies, while BTC will remain unaffected, thanks to the lockdown on money supply.

Actually where whole world economy crush and people are in fear of death there fiat currencies or btc is no matter. People first thinking to live then money or btc at present time. On the other hand as still we can not massively buy or sell goods with BTC and depends on fiat currency, so nCov19 must hurmful for BTC also.

thanks.

[Youghoor]

The spread of this virus had brought to bare some of the problems that can arise in the future if we don't switch totally to the use of digital and electronic means of payment. i read one news where a bank in China was disinfecting monies that have been received. Also, i think fiat currencies have contributed to some extent in Corona Virus hit areas such as Italy, China and US. I hope they learn this and advocate for the adoption of crytpocurrencies especially Bitcoin.

[Latviand]

Have you seen how governments responded to the corona virus?

Quite simply, in Italy, the US and elsewhere, they will increase their budget deficit, and add debt. In my understanding, that's very bad for fiat currencies, while BTC will remain unaffected, thanks to the lockdown on money supply.

Everything has been affected by this corona virus even the BTC.
We have seen the price of crypto drops down when corona is spreading through other country and not just crypto but also stocks.
So corona virus isn't just harmful to fiat currencies but to the economy.

But the issue here is the people who only uses fiat currency and not crypto. How about them? They aren't knowledgeable to use digital currency, most especially those people who are in a lower class. The only thing they know is to earn fiat money and they are the one who are prone in getting the virus. We need to help them to learn how to use bitcoin or somehow let's advertise bitcoin in our community to help also mass adoption of it. People have nothing to do but to continuously use the fiat if we will not take some actions in helping them adapt continuously improving technology. We have nothing to do to the price of bitcoin but to be patient and hope for the bitcoin to rise again.

[Spaffin]

What is happening on the cryptocurrency market surprised me very much, since I have been observing a fall in prices for almost the entire period when the biggest excitement began due to the epidemic in China and when problems started in Italy.  Indeed, the economy of each country, including international trade, suffers from existing problems, which makes fiat funds depreciate.  But in the light of all these problems, in my opinion, it was digital assets that were in great demand and cryptocurrencies should have been taken into account by the whole society, but the cryptocurrency market shows a negative trend.  It seems to me that speculators are to blame for everything, since the coronavirus epidemic should, on the contrary, positively affect the entire cryptocurrency market.

[tvplus006]

It may not be as bad as you describe - but who knows. And that's, why there will not be any BTC, rises to new heights. The price will rather hang at the current level + / - 1k. People will not have a lot of free money to invest in so risky assets. Conversely, they will sell crypto in search of liquidity

It seems to me that now investors are leaving both the stock market and the cryptocurrency market. Obviously, they want to see how the situation will develop further. And if they see that bitcoin has started its growth, despite the fact that the securities continue to fall in price, then it will invest its money in BTC.

[Meowth05]

The reason that btc is not affected is that it is a digital currency, unlike fiat where there is a physical contact then that is the reason that governments are trying their best to limit the usage of fiat because the virus can be transmitted by contracting an infected physical money.

[Kurokonobasuke]

Have you seen how governments responded to the corona virus?

Quite simply, in Italy, the US and elsewhere, they will increase their budget deficit, and add debt. In my understanding, that's very bad for fiat currencies, while BTC will remain unaffected, thanks to the lockdown on money supply.

As we all know that these past days many people over the world are worried about the virus, the virus called corona virus known as COVID-19 was appeared and begin, it starts from Wuhan, China and it spreads all over the world, so that to prevent it from spreading the basic way is to prevent or avoid it on using fiat currencies  in many transaction but is was difficult because many stores are not using digital money they used physical money. But to keep our healthy good, we must need to used digital money because physical money is primary reason on spreading the virus while the digital money are not. 

[bitgolden]

Unfortunately when everyone is out of money they will attack to whatever investment they have and one of them is bitcoin. It was naive of us to think that bitcoin was created right after the 2008 crisis so it was basically a way to get away from the financial doom but we all forgot what really happened during the 2008 crisis.

Before that there was a lot of mortgages that were given away like it was candy, there was a HUGE amount of people who did not paid their mortgages and it was obviously hurting the economy but at the same time that meant a lot of people went way over board with the loans and mortgages they got and that means they would be either giving their houses back to banks or they would have to pay it somehow, if bitcoin existed back then everyone would sell all their coins to pay their debts, so there was no "bitcoin would have saved you on 2008 crisis" type of thing, we were mistaken.

[TheGreatPython]

I feel like maybe we might be underestimating the economic infrastructure of the world. I understand that bitcoin is not affected and all that because we can't share a virus via online payments and bitcoin is great however we are in bigger trouble than just that. All of the world is scared right now and staying at home, that means lost profits for many places, how could we really expect bitcoin to not get affected right now.

There is no way we are unaffected by this, of course we would be, I understand we all love bitcoin and we all want to see the good parts of bitcoin however lets not think that this has anything to do with bitcoin, it is not and we can't really just look at it from out side, we have to look at from the sellers point of view as well to fully understand the situation.

[rexxarofmoknathal]

The coronavirus has hurt practically every commodity, stock and asset, including cryptocurrencies.

Did you not see how Bitcoin dumped as soon as WHO declared COVID19 a pandemic?

However, if you look at the analytics and trading volume for many exchanges, you'll see that they have seen a huge surge in volume and interest lately.

https://www.bestchange.com/

Take a look here, activity has increased dramatically in reason days.

[princesspoppy]

Fiat currencies and bitcoin are somehow connected and we can't change that fact. Now that many establishments are not operating and some don't receive their salaries, it is possible that those people who invested in bitcoin will convert their assets into fiat and if it happens that most of the investors do the same thing, the market will fall and indeed all of us will be affected by it.

[shoreno]

you may think its unafected but why the value of cryptos go down ? the dip started go severe just after they declared the virus .

this is many peeps believe that corona is also harmful to crypto/btc but few people could care less because most crypto enthusiast are verry happy for this decline.  corona is still more harmful to the local economy and to the people living because it damages health and business  . not sure if this will take long but this is verry alarming now

[U_Trune]

Bitcoin is online base currency I hope no any effect bitcoin price this corona virus only effective physical currency

[Elpeor00]

Have you seen how governments responded to the corona virus?

Quite simply, in Italy, the US and elsewhere, they will increase their budget deficit, and add debt. In my understanding, that's very bad for fiat currencies, while BTC will remain unaffected, thanks to the lockdown on money supply.

You're a bit ahead of our time, BTC will compete with fiat ''in real time'' once it is accepted for everyday purchases by most of the population, right now it competes with the gold and silver coins and penny stocks as cheap investment vehicles
It still needs more adoption and diffusion
Of course, if the ''big'' fiats -usd, euro- lost too much purchase power in covid's aftermath it will go up, but will take its time

[iv4n]

Have you seen how governments responded to the corona virus?

Quite simply, in Italy, the US and elsewhere, they will increase their budget deficit, and add debt. In my understanding, that's very bad for fiat currencies, while BTC will remain unaffected, thanks to the lockdown on money supply.

You're a bit ahead of our time, BTC will compete with fiat ''in real time'' once it is accepted for everyday purchases by most of the population, right now it competes with the gold and silver coins and penny stocks as cheap investment vehicles
It still needs more adoption and diffusion
Of course, if the ''big'' fiats -usd, euro- lost too much purchase power in covid's aftermath it will go up, but will take its time

He is not ahead of his time, you are. He is pointing a fact, governments are printing money like crazy in the last few weeks, and do you think they will stop anytime soon? So fiat supply is going up, more money than ever, while bitcoin and some other currencies can't do that, simply said they are printing unlimited amounts of money to buy limited amount of bitcoin, I think that say's all!
Corona is killing fiat economy, we will see what will happen after all this! Many businesses and people can't work, don't have any income, but you have to pay the bills.

[Elpeor00]

Have you seen how governments responded to the corona virus?

Quite simply, in Italy, the US and elsewhere, they will increase their budget deficit, and add debt. In my understanding, that's very bad for fiat currencies, while BTC will remain unaffected, thanks to the lockdown on money supply.

You're a bit ahead of our time, BTC will compete with fiat ''in real time'' once it is accepted for everyday purchases by most of the population, right now it competes with the gold and silver coins and penny stocks as cheap investment vehicles
It still needs more adoption and diffusion
Of course, if the ''big'' fiats -usd, euro- lost too much purchase power in covid's aftermath it will go up, but will take its time

He is not ahead of his time, you are. He is pointing a fact, governments are printing money like crazy in the last few weeks, and do you think they will stop anytime soon? So fiat supply is going up, more money than ever, while bitcoin and some other currencies can't do that, simply said they are printing unlimited amounts of money to buy limited amount of bitcoin, I think that say's all!
Corona is killing fiat economy, we will see what will happen after all this! Many businesses and people can't work, don't have any income, but you have to pay the bills.

Yes, monetary ''stimulus'' by governments reduce fiat's purchase power, but it doesn't do good for btc as long as people sees btc as an asset and not as money,corona isn't killing fiat economy, is killing fiat purchase power, but as long as fiat is the only money widely used for everyday purchases its reduced value doesn't matter
We need to use bitcoin as money, then it will show its fundamental strengths

[GreenStox]

not affected? I don't think the value of the fiat currency, when it gets weaker, will affect buying and selling. This can be seen from the decline in crypto at the same time a few weeks ago, and not just for crypto stocks, but also for others.
So your assumption seems to be wrong.