What Exactly Caused The New Drop Of Crypto?

[XCANA]

Just in few days now we have been experiencing unthinkable massive market drop, it seems something happened which I did not hear off. Please anyone here to tell me what exactly happened to the market?

Thanks.

The global epidemy which befallen world through corona virus was the cause of these drastic downtrend for some few days ago. Although many other market were also crash like the stock market and oil war trade, these where many things that contributed to the down fall of cryptocurrency. We hope this don't happen to Bitcoin on the longway as it will discourage many potential holders which will not panic sell their portfolios.

[sorrros]

Probably the most crazy crash in the crypto history (-44% loss in one day) was caused by uncertainty in the market, investors are selling all assets and they are preparing for another economic global crisis. 

[bttmember]

The market shaking dumping was brought by panic from corona fears while some experts think that the upcoming recession was one factor as well but i think there is no need to panic and corona is dealt nicely now all around the world and we will see crypto market recovering soon as well.

[Bonwin]

Coronavirus alone cannot contribute to the downtrend in the crypto market. there are other factors that might be associated with it. Do not be surprised, even the so-called Coronavirus might just be the secondary factor, but what most people see is the disease, because that is the talk at the moment. I believe if you even search google for the most searched word now, it will definitely bring out the disease.  One of the major factors I see is the fear of the unknown. If it manifests., then others may just aid it.

[Kiefner]

I think this is due to the fact that the dollar has grown very much in price. Many people may have started selling the crypt to make a profit. So the price started to fall. Also, the hype around the coronavirus also did not go without results.

[lienfaye]

People need cash now because of the lockdown and quarantine due to covid-19 hence investors are selling their coins.

While other investors do sell because of the fear of losing their investment in short they are a weak investors that cant stand seeing the market declining.

The virus is a serious issue and a challenge to each country on how to stop it. We cant say how long it will last but I hope everything can return back to normal as soon as possible.

[btcdie]

Yaps, assuming someone is averaged due to a fairly deadly virus (COVID-19) causes a market panic, not just crypto that lights a red candle, in the stock market also occurs and several other assets. actually the speculation that made the panic in crypto-world not only happened due to coronavirus, but many people panicked because of the news that miners no longer profit and reportedly Bitcoin Halving is imminent, meaning that halving the miner's income is no longer profitable if the price of bitcoin does not change. of course if there are no miners, Bitcoin is stuck, if this happens of course (game over). so bitcoin should be in the near future, prices will have to soar to retain the miners, because someone will not do that if it is not profitable.

[qtronix]

The coronavirus has affected many aspects of life, including markets. not only the cryptocurrency market is suffering, but also the stock markets. But it won't last forever. Soon everything will be back to normal.

[vermigerous]

In my perception, fluctuation ocuurs indefinitely. Sometimes continuously decreasing of prices tends to unthinkable reason behind it. But what's on my idea is when a token or coin that is massively sold in the market, it actually decreases.

[Ziskinberg]

You have to look at why there is a panic right now and that is due to the COVID-19 scare spreading globally.
IMO, that's exactly the cause of the market drop but please bear in mind that it's not permanent and this temporary market drop is an opportunity.

[SaidNurs]

This happened because of many factors, I think maybe this is happening because the price of bitcoin as the main coin has decreased very significantly last week. Therefore it causes a drop in the coins below. Apart from that it might occur due to this final outbreak virus which attacks several countries, thus affecting market prices

[jossiel]

Just a whales sell off and we're all affected of it. Some says that it's correlated with the covid19 that's spreading everywhere and has been declared as a pandemic by the World Health Organization.

Some says that we're on actual bear market again after all of those months when we've seen the greener days. No matter what exactly the reason of this tank, get yourself the best position and start buying at cheaper rates.

[Twinkledoe]

Just a whales sell off and we're all affected of it. Some says that it's correlated with the covid19 that's spreading everywhere and has been declared as a pandemic by the World Health Organization.

Some says that we're on actual bear market again after all of those months when we've seen the greener days. No matter what exactly the reason of this tank, get yourself the best position and start buying at cheaper rates.

Most people will say it's about the pandemic that we are experiencing right now. A lot of crypto users are selling off their bitcoin to prepare for this crisis. And the whales are taking advantage of the situation. But no matter what the situation in the crypto market is, we need to be prepare for ourselves in this another "bear" season. We don't know how long will this be so we need to get ourselves ready.

[Fatimahcrypto]

There could be several reasons for the drop in value of cryptocurrency, but one of the most obvious reason is because of massive sell out both by whales and other small holders. The point is that some persons would fall for the bait when they see whales selling out and the prices falling. Another reason for the decline could be because of the corona virus epidemic which has been causing panic and pandemonium in the world presently.

[yanto@1977]

People will give you the same answer, Corona virus. Because of this all economy sector become slow and quiet from development process. This time crypto is connected with global economy world, if something happen bitcoin will get impact also. Fundamental method really need to learn in this situation, analysis from news can make us understand market habit. Use it and make sure you use long term period time for your strategy, it will helpful.

[Kotone]

Just in few days now we have been experiencing unthinkable massive market drop, it seems something happened which I did not hear off. Please anyone here to tell me what exactly happened to the market?

Thanks.

There are events in particular that most likely cause the dump. Bitmex exchange force liquidation on their exchange creating a huge drop, and also some whales are moving funds to exchange and directly dumping the price. There are also news on plustoken dump the btc on their possesion. And the most crucial one is the corona virus panicking. Which let some investors pulled out for buying supply for rumors of potential locked down on most country.

[matchi2011]

You have to look at why there is a panic right now and that is due to the COVID-19 scare spreading globally.
IMO, that's exactly the cause of the market drop but please bear in mind that it's not permanent and this temporary market drop is an opportunity.

That's how this market works, if you know how to position your investment the chance to get into the right timing. The downfall can also be treated as opportunities to invest then wait for the recovering as experienced can give a good glimpse on how this industry bounced back from each falls that take place.

[CryptopreneurBrainboss]

Just in few days now we have been experiencing unthinkable massive market drop, it seems something happened which I did not hear off. Please anyone here to tell me what exactly happened to the market?

Thanks.

One could have easily put the blame on whale manipulation since the halving event is getting closer and like previously they're shaking the market to chase away weak hands to refill their bag with the hope of benefiting from the hype associated with the halving of bitcoin's block reward.

Although that's not the case since not just the cryptocurrency market is been affected but all other traditional market like stock makret, bond, commodity etc were all affected. The like of Gold, Oil, company shares etc all declined in price. Forex market was also affected as some currencies lost value.

Since the whole economy was affected than the trend of the day which is Corona virus would had obviously been the cause of the panic, people decide to take precautions measure since no one knew what was going to happen next, they're all cashing out their investment and probably storing more  fiat Incase if an economy meltdown.

[mirakal]

There's a global crisis due to the corona virus and bitcoin is global therefore it's heavily affected now.
The dump that we saw is huge but there is no guarantee yet that the dump is already over, lots of signs that there is a possible big dump incoming.

Therefore try to be ready for this, don't panic, part of investing here and be matured.

[pakhitheboss]

Just in few days now we have been experiencing unthinkable massive market drop, it seems something happened which I did not hear off. Please anyone here to tell me what exactly happened to the market?

Thanks.

First reason is whales manipulating the market. The second reason global economy meltdown. The third reason fear of the damm virus. Fourth reason panic selling by retail investor.

Situation might get worse so, be prepared.