Dow Jones Price Drop & The Corona Virus?

[mrquackquack]

Wow I hope not. That's been a painful sight. Can you imagine those poor people buying Bitcoin at close to 20k USD and then watching it lose the majority of its value and on the other side of things retired people losing their life savings when the Dow Jones Drops around 2,000 points in one day. Terrible.. I thought that Bitcoin would be immune to the ongoing onslaught of the markets but seemingly it has fell victim to this colossal drop as well. Only time will tell what will be next.

[Fedor_V]

Wow I hope not. That's been a painful sight. Can you imagine those poor people buying Bitcoin at close to 20k USD and then watching it lose the majority of its value and on the other side of things retired people losing their life savings when the Dow Jones Drops around 2,000 points in one day. Terrible.. I thought that Bitcoin would be immune to the ongoing onslaught of the markets but seemingly it has fell victim to this colossal drop as well. Only time will tell what will be next.

Yes. It will fall faster than stocks because, it has limited application. You cannot come to a grocery store and buy something with bitcoin.
It use only for speculations and money transfers. Only gold and US treasury bonds are reliable assets.

[wozzek23]

I must appreciate OP for writing about Corona by the end of last January itself. Now I feel the pain of a virus affecting all the economies including bitcoins. The Corona virus has affected a lot of things and people in countries where the situation is worse are now afraid to move outside and everyone is staying indoors. Most companies now wants their staff to work from home. Some experts have even said that the Coronavirus outbreak is likely to be part of what caused the decrease in Bitcoin as of recent.

There have been other things that are being mentioned as well, and Coronavirus is at the top of the list, maybe because it affected world market in general. Really hoping that they find a solution to end this once and for all. I’m still confused about this situation and I’m trying to do more research and understanding what’s going on and how it started.

[fiulpro]

Fast forward to some days after , a lot is known about this virus now but precisely we do not know how to handle it right now .
There is no vaccination and people are directly jumping to human trials .
With such a high death toll , Italy is suffering drastically and so are the countries who are exceptionally poor , Zimbabwe president is writing shit about their people about how *They have new mortuaries for the Corona virus, and how he will be happy that the population goes down *
World is at a bad place right now , it will take time , time to heal and till then don't expect anything to go up and about.

[Meowth05]

I think that there is a little correlation with what is happening. Yes, the pandemic affects the economy but there should be other factors that play that we aren't aware of.