What Exactly Caused The New Drop Of Crypto?

[Latviand]

Possibly there can be only one major reason the false and unnecessary news which created to much panic between cryptocurrency traders that's why the market crashed very fast it was really an unfortunate moment, but now it looks that market is recovering slowly hopefully the market situation will be positive soon.

Some people are saying that the decline in the cryptos market value has relation with the widespread of the corona virus. It somewhat has a point; the virus is now negatively affecting the economy of many countries, some establishments are forced to be closed and activities are restricted. I do not really know how it exactly affects the prices of the cryptoa but, all i know is that the economic situation reflects to the prices of cryptos as we have seen before. So maybe, once things are showing signs of positivity, same thing could happen in this industry as well as to the market value of cryptos.

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.

Well at first, many people believed that corona virus do not affect the market price of cryptos. But the moment situation regarding to the said virus became worse, being a problem to many countries across the globe, there was a sudden decline in the market price of cryptos. In bitcoin, I think it fell down as much as 46% as what I have seen in Coinmarketcap. Hoping for better things to come because it really is sad seeing how the market struggle to make a comeback.

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[Kelvinid]

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.

If you are aware of the global market issue, you probably can find out what it brings the situation into like we have today.
Pandemic COVID-19, health issues...this all you've heard around in television and in the newspaper. I am deeply down seeing the price turning down again early March. Nobody had to expect this, we all get shocked as we think that crypto could be safe from this and also the upcoming halving. But the trend had changed and have no choice but to accept.

[thiscomm]

I think it happened due to the decline in transactions that took place on the market due to the loss of crypto users who were afraid of the coming of Corona virus. the number of transactions continues to decline every day and that has happened since the viral corona virus that is troubling the world. here if we expect that the 2020 bull market then we need to provide support to crypto users to come back even though this virus is disturbing our performance here. because our work here does not need to meet directly with other users so it is safe to prevent the spread of viruses.

[imstillthebest]

I think it happened due to the decline in transactions that took place on the market due to the loss of crypto users who were afraid of the coming of Corona virus.

transactions supposed to be inclined because people are panicking ( buying and selling )  but mostly selling   . also people are entering because they see the dump as a great oppurtunity to invest more  .

here if we expect that the 2020 bull market then we need to provide support to crypto users to come back even though this virus is disturbing our performance here.

that is hard to do because people are more foccusing on the virus than on ways on how to promote a crypto or on how to create a bull run  .

the drop of the price finally stop and hopefully the price recovers now because the state of the convid are now also getting better  . more patients are said to recover now  . this is good news to us 

[lobo13hf]

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.

This panic selling caused by people are thinking if their live is much better rather than money. They have already started to rush the market and that's creating a big panic sell and look at the bitcoin transaction history and there were so many wallets with thousand of bitcoins have been sending their bitcoin to the market to make it even worst caused by they were trying to take the safe position.

[Ashong Salonga]

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.

Many people says that this drop down in terms of price of all the cryptocurrencies in the market is due to the current situation of public health that is affecting the whole world which is the Novel Coronavirus 2019 that is already a pandemic virus which maybe the reason why we are all experiencing this downfall in the market. It is said that the threat on the public health is the main reason why people are getting into panic using their money to buy necessities to be able to keep themselves safe and survive this scenario. Maybe people tend to focus more into securing their health care these days than getting into cryptocurrency that is why the price is falling due to low volume of demand.

[CaVO32]

I think it happened due to the decline in transactions that took place on the market due to the loss of crypto users who were afraid of the coming of Corona virus.

transactions supposed to be inclined because people are panicking ( buying and selling )  but mostly selling   . also people are entering because they see the dump as a great oppurtunity to invest more  .

here if we expect that the 2020 bull market then we need to provide support to crypto users to come back even though this virus is disturbing our performance here.

that is hard to do because people are more foccusing on the virus than on ways on how to promote a crypto or on how to create a bull run  .

the drop of the price finally stop and hopefully the price recovers now because the state of the convid are now also getting better  . more patients are said to recover now  . this is good news to us  

aside from that, the human trial for human vaccine is already ongoing. so hopefully, we will see it released commercially very soon to prevent further increase of infected people. but since, we don't know when it will be rolling, people are still in panic mode, panic selling of their crypto and panic buying of their necessities.

and since most businesses are shutdown, sports events that are being cancelled, conferences, concerts and other gatherings that are being cancelled, it means a lot of businesses are in loss these days. so many crypto holders are selling their portfolio to augment their cash in case they need it.

[oscarftw]

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.

Even when our ecosystem was crash what can do cryptocurrency in the time of virus. Investors just worried about their money so they wanted to be protected money. Without coronavirus all news is good about cryptocurrency. All coin price is going down but price is increasing of our needed product.

[mirakal]

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.

Even when our ecosystem was crash what can do cryptocurrency in the time of virus. Investors just worried about their money so they wanted to be protected money. Without coronavirus all news is good about cryptocurrency. All coin price is going down but price is increasing of our needed product.

That is because there is a demand on our needs but I am not seeing it yet now, at least at this moment the government were still able to control the situation, what we are seeing for now is just a panic, people are overreacting and the measures as well so this results to our economy down at the moment.

However, I am pretty sure there's still demand on crypto, people should not be scared, it will not die as they are thinking, it's set to recover as soon as the vaccine is discovered, what we are gonna see next, is hopefully a panic buying.

[Shallow]

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 all points to the virus spreading like wildfire across the world which is putting everything on standby; not only is the crypto market affected but every other businesses or markets both online and offline. People are finding it hard to contain their emotions, fears, sentiments etc which is then leading to further dump in various markets and as no cure is currently out it is only but fueling the whole situation. We can only pray a cure comes as fast as possible so that various markets, activities, conferences, etc can adjust, kick off and the world can as well return to normal.

[neokripto]

What happened in the existing capitalist system of management — crises happened. There are objective reasons - the coronavirus pandemic, the decline in oil production and consumption, the global recession; and subjective, man-made - the exit of the Russian Federation from the OPEC+ agreement, panic in the media. Bitcoin and other cryptocurrencies are derivatives of this system and are evaluated as risky assets, which it is customary to get rid of in difficult times.

[Diamond_Darrell]

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.

Even when our ecosystem was crash what can do cryptocurrency in the time of virus. Investors just worried about their money so they wanted to be protected money. Without coronavirus all news is good about cryptocurrency. All coin price is going down but price is increasing of our needed product.

That is because there is a demand on our needs but I am not seeing it yet now, at least at this moment the government were still able to control the situation, what we are seeing for now is just a panic, people are overreacting and the measures as well so this results to our economy down at the moment.

However, I am pretty sure there's still demand on crypto, people should not be scared, it will not die as they are thinking, it's set to recover as soon as the vaccine is discovered, what we are gonna see next, is hopefully a panic buying.

The vaccine))) again this vaccine, why isn’t anyone so intensely looking for a cancer vaccine? And by the way, people die from it, too. All this is nonsense and manipulation. Since all the screams about this virus are so loud, it means that someone really needs it. And most importantly, the louder they shout - the closer the bottom))

[TheICE007]

The panic in the world has not just affected crypto but other financial market. This panic is caused by the Corona virus,ever since the start of this virus ,so much panic, this did not leave the crypto world out,so many are dumping just to get out or converting to stable coin to wait and see the turn out of event,all that have contributed to bringing down the price of bitcoin,and altcoins are not left out.

[Becky666]

What I saw that dropped the downturn in the price of cryptocurrency is the amid coronavirus which was said to be a pandemic, thus has been in the mind of individuals who holds some proportion of cryptocurrency most especially the Bitcoin. Those who holds these cryptocurrency were panicked and later embarked in a large scale sell off from their weak hands. This actually made the cryptocurrency market dropped down beyond imaginations as this type of dropped happened in 2013, when the price of Bitcoin dropped 50%. The only thing the community would have do to Savage this situation would have be never panic sell your portfolios.

[pacman7331]

There is no reason except the coronavirus! Just saw the news that Italy has new 250 deaths in a single day, and total death count 2900+, US stock market declined by 9%! So can you imagine what's going on! WHO already announced Coronavirus is an epidemic! So, crypto has Corona effect too, people are selling their coins heavily to buy food and stick on home! So, we are not going to see an uptrend very soon!

[jrrsparkles]

We have to search for the reasons if the price drop occurred only on crypto market but everything is falling including gold so the reason for this fall is not too much hard to find.

Just because of Covid-19 aka Corona Virus.

[pacman7331]

The panic in the world has not just affected crypto but other financial market. This panic is caused by the Corona virus,ever since the start of this virus ,so much panic, this did not leave the crypto world out,so many are dumping just to get out or converting to stable coin to wait and see the turn out of event,all that have contributed to bringing down the price of bitcoin,and altcoins are not left out.

Right, at first, Coronavirus did not affect on the crypto market, rather price was increasing gradually. But suddenly the market crashed badly because Coronavirus is affecting in every country, so no one can't hold,/trade crypto instead of buying products to save for the future! You said the truth, most of the people are converted their crypto into USDT to avoid the market dump!

[Becky666]

We have to search for the reasons if the price drop occurred only on crypto market but everything is falling including gold so the reason for this fall is not too much hard to find.

Just because of Covid-19 aka Corona Virus.

Your are right but, the deep created by cryptocurrency cannot be compared to others like gold and metals from the general market. We have seen before SARS among others pandemic but never affected the cryptocurrency, gold and metals as we have seen few days ago. This made me believe that, there's more to this drastic and dynamic fall from cryptocurrency.

In my.opinion, panicked investors were responsible for the outbreak of the crash which lead to total downturn of the entire markets. The panic sales make this deep on cryptocurrency because of it volatility among other things. I "strongly believe in the effect of panic sales"

[Slingshot]

I feel is the current virus situation in the country. The virus affected both stock market so it's a serious issue. Many people at if fear sold off tokens and less traders I feel so. But once there is solution to this virus everything should bounce back. J trust Crypto and I am sure things will certainly normalise soon.

[leowonderful]

As most others have said, there's a number of different reasons for the drop but coronavirus just happened to be what set the ball rolling downwards, though one of the more unfortunate things about the whole situation was that it occurred right as Bitcoin was rising towards $10k and $11k again. People got fearful of their investments and/or needed to use some of their invested funds, so people started exiting the markets and things snowballed into a large dump as fear started driving market activity and still is driving market activity.

The great amount of fear that likely led to this rapid decline makes me personally want to invest heavily into crypto again, but I'm still continuing to dollar cost average as normal as to not catch a falling knife. We've sunk a ton but I believe there's still a possibility that we could go lower still if the situation worsens.