What Exactly Caused The New Drop Of Crypto?

[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.

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.

Yes, be prepared whatever is the reason behind this crash, we should be prepared.

This is like minding your own business and making your own strategy throughout this crisis. If the whales are doing anything they can to take advantage of it, we should too. And the most basic thing that we can do is to buy.

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[thisnewcoin]

It's because of Coronavirus, I can't see any other reason behind this massive drop. Coronavirus is spreading worldwide and people are dying every day! So, it's normal that all the stock market, the crypto market is facing a huge decline! You may open the tv or read some news through your native newspaper, so, you will get why we are in panic mode and why crypto is suffering these volatile pain!

[bonyaserg]

I personally understand that the market will always behave very unpredictably. Since there are many factors in the world that can affect the price of cryptocurrencies. And forecasting a market forecast is very difficult and no one can give all analysts an accurate forecast. So it happened that the market fell sharply for some reason and immediately began its turn and went up to increase. So it is very difficult to find out what has served the market such changes in the market.

[cassavachips]

Of course, because the big news about coronavirus and social media is very crowded because of panic, many people say this is not because of coronavirus but I am sure it is caused by a coronavirus which significantly affects the world economy. But there are also those who believe this is caused by whales who want to buy bitcoin cheaply to welcome halving bitcoin.

[michellee]

It's because of Coronavirus, I can't see any other reason behind this massive drop. Coronavirus is spreading worldwide and people are dying every day! So, it's normal that all the stock market, the crypto market is facing a huge decline! You may open the tv or read some news through your native newspaper, so, you will get why we are in panic mode and why crypto is suffering these volatile pain!

It could be true. Maybe people sell their bitcoin because they run out of their money to buy their daily needs. Corona Virus has an impact on real life, and many businesses cannot running well as usual, and they wait for a while for the next good news. But maybe there is another reason why the price still drops today, and we don't know what is all about. Some traders get panic to see the price drop again, but the other traders see another opportunity for them to buy more bitcoin.

[julius caesar]

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.

Actually, I am not sure if this is the effect of the Corona Virus. We can just say that it is because the value of every coin drops when Corona Virus happen. On the other hand, maybe whales are just manipulating the value of the coins and trying to prepare its value to the halving that is about to happen.

[trauchot]

I am sure that the main reason for the fall of the cryptocurrency market is the corona virus, because the corona virus has now affected and affects everything completely and the cryptocurrency market is not protected from this, therefore the cryptocurrency market has fallen so quickly.

[xvids]

I am not so sure but I think the panic cause by corona virus could also be the reason since it is spreading so fast and also the lock down on some places.
People would need some money to buy what they need to survive while being lock down on their house.

[tiang_tower]

I am sure that the main reason for the fall of the cryptocurrency market is the corona virus, because the corona virus has now affected and affects everything completely and the cryptocurrency market is not protected from this, therefore the cryptocurrency market has fallen so quickly.

It's not a matter of the market that is not protected from the corona virus, but because of the corona virus people are afraid to store their assets in crypto and some investors also withdraw their assets from crypto, so that is what makes the cryptocurrency market collapse that we have seen at the time this.

[Lordhermes]

In the cryptosphere, many repulsive news had affected markets badly, one may say corona virus was manipulated by whales to full investors to sell their assets and then they would buy back again after a huge drop down or when coin loose value.

But in as a much as blockchain and cryptocurrency is gaining adoption in the society locally and globally, markets will surely comeback so it's just a matter of time. I would advice investors to buy more coins now than ever, this incidence is an opportunity to increase investor's portfolio.

[Magkirap]

I am sure that the main reason for the fall of the cryptocurrency market is the corona virus, because the corona virus has now affected and affects everything completely and the cryptocurrency market is not protected from this, therefore the cryptocurrency market has fallen so quickly.

It's not a matter of the market that is not protected from the corona virus, but because of the corona virus people are afraid to store their assets in crypto and some investors also withdraw their assets from crypto, so that is what makes the cryptocurrency market collapse that we have seen at the time this.

I do think that people and investors might have withdraw their money from cryptocurrency because they needed it more now in this kind of situation where we need some supplies in our houses but of course it might also because of the whales who are getting ready for the halving but i am more of the first reason.

[Nisterse]

Nothing happened. Its just that the cryptocurrency market is so volatile the it dumps so hard. Well in Oil and stocks has been the first ones to dump recently but I dont know for sure if this is related.

[dainoran]

t looks like the market is experiencing a panic of selling, maybe this is caused by the Corona virus which is growing very fast, or this could be a strategy for traders to get big profits one day.

[cytpoway121]

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.

I wouldn't say anything has happened to the market, its a general world situation and i believe only those who ignore the rumours fell victim to the news.

The crypto sphere experienced what the world trade and stock market experienced and bitcoin went further down because we all panicked into desperate need for fiat in order to protect one another from the covid-19.

Truth remains that this situation is not news nor new and it will evolve positively with time.

[Vishnu.Reang]

From what I have heard, the PlusToken scammers started dumping their coins (mostly ETH, BTC, TRX and XRP) about two weeks ago, when they moved $120 million worth of crypto to various exchanges. This caused a 20% drop in the cryptocurrency prices in one day. And in the succeeding days, these people dumped even more of their loot, which ultimately caused a meltdown in the cryptocurrency market.

Contrary to what people have been claiming here, the COVID 19 epidemic has hardly anything to do with this current bearish phase.

[mdzahed134]

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.

That's correct corona virus massively affected all of the sectors. But just one day this collapsed can't expected. Stock exchange  is big down it’s many days ago because china and newly other some countries is out of connect each others. Just for corona issue market is big dump it’s difficult to believe that. People’s withdrawn their all assets, the condition isn’t going such too much bad right now.         

[Destroyeroff98]

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.

It seems to me that coronavirus has affected. Because because of him there is a global crisis.

[TWW]

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.

It seems to me that coronavirus has affected. Because because of him there is a global crisis.

It looks very big in the world. especially for countries that depend on the export needs of other countries to meet the needs of their countries. of course with the cessation of the export of these goods imports will cause economic chaos that occurs. I hope this is finished soon and resolved.

[bitgolden]

I could say potentially corona is still relevant but the panic that is caused by corona is the real deal. People think that corona could do anything by itself, I am sorry but it is a disease and only thing corona could do is kill people. You can die from corona but you can't bankrupt because of corona, not unless your government is bad like USA and you are forced to pay tens of thousands of dollars to recover from it. So what has caused new drop of crypto?

It is the panic people have that caused the sudden inflation of prices in many products, the sudden drop of stock markets, the sudden lay offs in many companies, sudden bankruptcy of some places and of course sudden drop of crypto prices as well. It isn't corona that is doing this, it is the people who got afraid.

[Ziskinberg]

It isn't corona that is doing this, it is the people who got afraid.

People would not panic if they are not lock down, the government are very strict with their ways in preventing the virus to spread.
They lock down cities, order people to stay at home if possible, therefore there is no way they can do commerce here.

The main source of income is the buying people, whether its a product or service, so when people are not buying anymore because they prioritize their needs over their wants, that's why the economy will fall.