Coronavirus is very harmful to fiat currencies, not bitcoin

[FanatMonet]

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

It was about bitcoins and other cryptocurrencies that the coronavirus had the most direct impact when the price fell from 10,000 to 4,500, now we are winning back, but we have not won back even half the fall, and most likely we will not win back to halving.

[Negotiation]

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.

I don"t see that because coronavirus is Global crisis and we don't see it's stopping soon and as you can see btc super violated and there's no guaranty it won't affect in future more.

Of course this will have an impact in the future as the number of coronary viruses continues to increase Everything around the world has been shut down and its impact on Bitcoin. People will be away from their work but Fiat is more dangerous than Bitcoin.

[Jateng]

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

It was about bitcoins and other cryptocurrencies that the coronavirus had the most direct impact when the price fell from 10,000 to 4,500, now we are winning back, but we have not won back even half the fall, and most likely we will not win back to halving.

Crypto Market is affected and will continue to be affected about the current situation in the world. Bitcoin has some aspects why it was affected even it's working with online and will not cause of spreading of the virus. Virus still out there we should expecting more difficult times and low prices will be this upcoming months. China and South Korea have already recover but a lot of countries still suffering.

[Eugenar]

Our cryptocurrency are also affected by this virus because from 10,000$ before when virus is not yet existing, but when this virus exists in different countries the bitcoin price are also being affected by the virus in which it falls so seriously to the point that it reaches 3,900$, from 10000$ - 3900$ that is really big difference.

But this bitcoin is really important as of now because we can us it to purchase some goods and stuffs that we can use while we are still in community quarantine.

[cryptomite]

 :Pcurious why not for BTC cause it can not be completely separated from economy

[Argoo]

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

It was about bitcoins and other cryptocurrencies that the coronavirus had the most direct impact when the price fell from 10,000 to 4,500, now we are winning back, but we have not won back even half the fall, and most likely we will not win back to halving.

If it were possible to directly buy various goods for bitcoin and other cryptocurrencies, and in this case basic necessities and products, people would not put it up for sale through exchanges and the cryptocurrency would not fall in price. In any case, not so much.
If quarantine measures are followed by a global economic crisis, then here we will see for the first time how such a crisis will affect the cryptocurrency market. It is assumed that in this case, the cryptocurrency will even have to grow in value. Let's see if the assumption about the growth of the cryptocurrency market as a financial asset that is not subject to inflation will turn out to be true.

[boltz]

Its very harmful to everything, to every domain,to every currency no matter what. I think the only precious thing that are not harmed are Gold & Silver as this cannot affect them. I saw some videos on youtube that have predicted this economic collapse long before corona hit the world and they said $ is gonna drop so hard and another global currency will rise... . My thoughts are that $ cannot disappear so fast and we already have global currencies including Bitcoin.

[FlightyPouch]

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

It was about bitcoins and other cryptocurrencies that the coronavirus had the most direct impact when the price fell from 10,000 to 4,500, now we are winning back, but we have not won back even half the fall, and most likely we will not win back to halving.

I don't think so. Bitcoin and other crypto currencies are not directly affected by the pandemic that is happening. It is already happening and the price even reached $10K, it just dived or dumped because of the PlusToken scam that happened the past year. Right now they are dumping the bitcoins they scammed to mixers the reason price is falling.

[verita1]

Of course, the current scenario is very bad for Fiat currencies and also affects BTCitcoin and cryptocurrencies. Because we use both assets in everyday life and we are all being affected by the Coronavirus. Probably Bitcoin and cryptocurrencies win a space of acceptance to contribute to the recovery of the economy and I really wish it for our community.

[Negotiation]

Everything is needed in our daily life No one can tell when someone will be needed However bitcoin has nothing to do with the virus Because of the virus people are unable to do business properly. This is the effect of the crypto market as everyone is now a house prisoner But Fiat will suffer complete loss If everything is closed the currency will stop working but Bitcoin will never stop.

[bearexin]

Honestly, fiat currencies are getting affected as much as bitcoin for the simple reason that they are bigger and bitcoin is smaller, so bitcoin gets affected smaller and fiat gets affected bigger but it is proportional so they get affected the same because of their size.

Nobody thinks about how liquidity is marginally lower on bitcoin, so when 200 billion dollars withdraw from stock market it goes down, when 1 billion is withdrawn from bitcoin it gets affected the same, that is the trouble here. We need a lot more people and a lot more money in bitcoin to survive these kinds of stuff and not be bothered by the small withdrawals. There are so many companies who are invested in crypto now, when they want to get out they create a panic that causes everyone to get out.

[slashz9]

all financial sectors, whether crypto or not will be affected by this virus, you say bitcoin is okay?
I think the decrease in crypto was the highest where more than 50% in one day from 8000 $ fell to the lowest point of 3800 $.
if indeed all countries apply for debt then of course their currency exchange rate will decrease against $, for example my country's currency has weakened 10% against $ and is now recovering little by little.

[suzanne5223]

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.

The issue of coronavirus is not new and so is the government respond to it but if the government continue to deficit their budget whime add more debt this will totally do more worse to every market.

In my understanding, that's very bad for fiat currencies, while BTC will remain unaffected, thanks to the lockdown on money supply.

Crypto currency was implemented as a solution to economic meltdown which the government are unable to fix but was never a solution during to pandemic because the situation of panic or emergency sell will occur which is what's happening now.

[turkandjaydee]

Based on my country's situation,

People need to buy medical items to keep them safe from Covid-19 which is more expensive due to limited supply and high demand, many people experience a drastic decline in income, even some people have lost their job.

So this is a very hard situation because some people have less income but at the same time, they have to prepare for more use of money if they get corona or if they just want to stay safe from it. If this also happens in every other country, then it makes sense if people tend to sell some percentage of their assets and one of them could be bitcoin.

[TitanGEL]

Honestly, fiat currencies are getting affected as much as bitcoin for the simple reason that they are bigger and bitcoin is smaller, so bitcoin gets affected smaller and fiat gets affected bigger but it is proportional so they get affected the same because of their size.

Nobody thinks about how liquidity is marginally lower on bitcoin, so when 200 billion dollars withdraw from stock market it goes down, when 1 billion is withdrawn from bitcoin it gets affected the same, that is the trouble here. We need a lot more people and a lot more money in bitcoin to survive these kinds of stuff and not be bothered by the small withdrawals. There are so many companies who are invested in crypto now, when they want to get out they create a panic that causes everyone to get out.

It is true that bitcoin is also affected and not only those in financial markets like stocks, indices and forex. We experienced massive dumped in previous days and it only indicates that there is also panicked that happened in this market.  But the good thing is the recovery of the bitcoin which happens in days only, it only indicating that there are still a lot of buyers that who are willing to risk their money even though there is a panic.

[hahay]

Indeed, it greatly affects fiat currencies but it does not rule out also anyone who holds bitcoin will sell it sooner or later because the economic situation is also very worrying because of the corona pandemic. Bad situations like this that will make panic selling happen at any time because on the other hand we realize, so many companies are closing their businesses for a while because there are rules in place to suppress the spread of the virus.

[rdbase]

Based on my country's situation,

People need to buy medical items to keep them safe from Covid-19 which is more expensive due to limited supply and high demand, many people experience a drastic decline in income, even some people have lost their job.

So this is a very hard situation because some people have less income but at the same time, they have to prepare for more use of money if they get corona or if they just want to stay safe from it. If this also happens in every other country, then it makes sense if people tend to sell some percentage of their assets and one of them could be bitcoin.

Well depending on their location then accepting bitcoin might be troublesome to purchase these necessary items which have become so scare in the recent month(s).
They are more concerned about how to get the funds for it which is a pity.
If cryptocurrency had more mainstream point of purchase movement going on before the epidemic occurred then maybe there wouldnt be such a problem to get these different countries so separately distanced from one another it wouldnt be such a problem as it is now.
xRapid and the lightning network full onboard adoption would of been nice right about now.

[Viscore]

Because bitcoin is not correlated with stocks or the government fiat or monetary system so we are not affected.
The government are printing infinite cash, this isn't good and the people would feel this in the future and money will just inflate.

In terms of investment, bitcoin should save the fiat from falling, so people should not be putting all their money in the bank, instead try to invest it, grow it and maybe put it in crypto so its value will not be lose.

The crypto market is strong, it going to be successful in the long run as people will realize and consider it as a good store of value and adoption are growing too.

[Bezobraznike]

Because bitcoin is not correlated with stocks or the government fiat or monetary system so we are not affected.
The government are printing infinite cash, this isn't good and the people would feel this in the future and money will just inflate.

In terms of investment, bitcoin should save the fiat from falling, so people should not be putting all their money in the bank, instead try to invest it, grow it and maybe put it in crypto so its value will not be lose.

The crypto market is strong, it going to be successful in the long run as people will realize and consider it as a good store of value and adoption are growing too.

   We all saw what President Trump signed, more cash is coming! I believe that will lead the fiat economy into a crash,
and that is the moment where crypto-currencies will step up and save the day.
   Fiat economy is unsustainable, and that is visible now more than ever before. I believe in crypto-currencies more than
I believe in fiat, I am buying when ever I can, and I believe that crypto-currencies will get out from this much stronger!

[eaLiTy]

Its very harmful to everything, to every domain,to every currency no matter what.

Each and every sector is affected, people are commenting about one sector is not affected or the other, what world they are living in  .

I think the only precious thing that are not harmed are Gold & Silver as this cannot affect them. I saw some videos on youtube that have predicted this economic collapse long before corona hit the world and they said $ is gonna drop so hard and another global currency will rise... .

There was a global economic slow down for a few months and with the Virus spread and the complete lock down by different government it recession is completed and how long it will take for things to be normal is to seen, it is really hard as the number of patients keeps on rising and how long we will be forced to lock down to save our life.

My thoughts are that $ cannot disappear so fast and we already have global currencies including Bitcoin.

It is a global issue and dollar nor any currency will disappear just like that and the government will come up with stimulus package to help revive the economy but it all depends upon how long this shut down is enforced and when we will have a solution for the issue we have, the fucking virus which has affected everyone irrespective of region color religious belief etc because the virus does not discriminate.