Is Bitcoin Doomed ?

[Thavash]

Has the Corona virus doomed Bitcoin ?

Nope - don't be ridiculous.......they want you to think this.

Firstly, we got into Bitcoin because of financial freedom - money and value that nobody controls - that will never be "doomed" ( but they'll always try to kill it ).
Secondly , I explain in the video below why after every crash investors first go for liquidity , and then into safe havens - we're only a week into this market crash , you will see the safe havens over the next few months.
Thirdly, blockchain has already entrenched itself with many use cases that we cannot ( and won't ) go back on.

Don't make a mistake selling guys - they want you to do this. HODL.
And watch my video here with more detail - https://youtu.be/QGdvGY9STdc

[1714226037]

1714226037

[1714226037]

1714226037

[Kemarit]

the Corona virus has really affected not just Bitcoin but the whole global markets. But to say that Bitcoin will be doomed? Nah, I don't think so, it's hard to bring down a market wherein there are a lot of players, whales, average joe's traded 24x7/365, from Asia to Africa and everyone has different goals, store of value, payment method, investment assets.

We don't need to panic, this is just another bump along the way, folks are going to buy at every dip, majority are selling, but it doesn't mean that this is the end-game of Bitcoin. The only thing that I can think of that can really affect it is that if quantum computers where able to steal our Bitcoin. But that is a different discussion.

[boltz]

No, Bitcoin is not doomed. Everything will be back to normal in some months but the economy of the world will suffer for more months after the end of the corona spread. For now , don't panic , don't buy stocks , don't buy anything , keep your cash near you.

Yep we entered Bitcoin for the freedom of money but that was some years ago until countries tried to regulate it and will not stop until they do so but this has nothing to do with the price decline as its just a normal situation around the world.

Cause - effect , nothing new.

[JeromeTash]

As the famous saying goes
"If it doesn't move up and down, then it's not alive" ~ Author: Unknown

The same applies to Bitcoin. The up and down movements are more than normal for a healthy market and we would be fools to think bitcoin is doomed just because it moved back to 5K

[ALLON2017]

Don't think it's doomed, but can't see the global markets recovering any time soon , I see another week of Market turmoil, and bitcoin dropping under 4K. But don't  take my advice, Dyor

[FatFork]

As the famous saying goes
"If it doesn't move up and down, then it's not alive" ~ Author: Unknown

The same applies to Bitcoin. The up and down movements are more than normal for a healthy market and we would be fools to think bitcoin is doomed just because it moved back to 5K

Limbo is no fun! And I am not talking about the Caribbean party dance.
Let it move. It may take a long time, but it will get where it needs to be eventually.

[Darker45]

Nope, of course not, although I do consider this trying time to be a test for Bitcoin as well as to those who own Bitcoin. The fight is not about COVID-19; it is about the people in the community who are swayed by this phenomenon and ended up panic selling. But I am somehow elated to see a lot of people expressing their conviction to continuously HODL despite the market nosediving. I am one of them, of course.

[oleg8791]

Bitcoin isn't doomed. Yeah, it's bearish and it'll take a couple of month for recovering. Coronavirus affected the whole world economy. And we may say there is no safe haven speaking in these terms.

[AGD]

1 year ago it was 3500$ I wouldn't call that doomed, but a good investement.

[FanatMonet]

Of course, bitcoin is not doomed, but it showed its very great vulnerability to various kinds of stressful market situations, and if conservative assets such as stocks or metals survived this pretty well (8-12% loss), then bitcoin fell very much. And it will take time to recover.

[coinycoiny]

Absolutely not, the value of tulips can only go up.

[josephsonand]

Bitcoin will not be doomed, even if it costs $ 1. This is a completely different thing than fiat in order to make similar judgments to it.

[btc_angela]

If it be doomed if miners stopped mining blocks, however, they have continue to do even in crisis like this, so this doom scenario won't happened. The challenge has been accepted by bitcoin, others might question is validity as a store of value in this kind of situation, but I do think that bitcoin or some other crypto will escaped. Might take months or years though, so it is still a long road ahead, but it will not meet its demised.

[TheUltraElite]

Bitcoin will not be doomed, even if it costs $ 1. This is a completely different thing than fiat in order to make similar judgments to it.

We have to understand why people keep using the words doomed or dead or destroyed with assets. Thing is these assets are never destroyed unless they are destroyed physically. That's also one point where bitcoin excels over precious metals and gems.

Now investors are divideable into two types : one who have a belief and has reasoning behind their belief and ones who just blindly follow something because someone told them to buy something.

This second group always feels these emotions when their held asset drops in price. They will blindly try to associate the cause of the drop to any reason which they can think of. That is how the human mind works.

[lepbagong]

the current situation with an epedemic corona is definitely certain to have an impact, the size of the impact will be seen in the next few months. but many are also looking for opportunities for this to make a profit. I agree that the blockchain is rooted and will continue to run, signifying there will definitely be a change. it is natural that we remain patient and do not be carried away with misleading news that actually makes a loss. hold on to keep what you have until the situation improves.

[Wexnident]

Upvote. The bitcoin is not doomed, just that it has suffered the repercussions done by the virus to the economy. It's just like how one thing is dependent on the other, Bitcoin is dependent on the current state of what or how the economy is. With so many companies temporarily stopping their works, countless countries' economies being affected by the coronavirus, it'd only be natural you'd be seeing a hit. Initially, i actually thought the virus had no effect or maybe did have but didn't have that major of an effect. Turns out the virus has already hit the world pretty hard, and seeing that, you'd have to make some kind of connection to the drop and to the virus.

Still, most of us most likely expect a return to normal market after a vaccine has developed, in which the populace would stop the mass panic and well, the virus effect has subsided. Prices would probably surge by then due to the effect of it having low prices now at times of trouble/disasters.

[KrisAlex18]

I do not think that bitcoin is doomed, do not worry about the price of the bitcoin because that is really normal for bitcoin to goes high and goes down, let us expect that thing because of its volatility. Actually corona virus affected the bitcoin, because of the COVID-19 the price of the bitcoin goes down because there are so many players and traders of the virtual world are being affected by the virus.

Instead of thinking that bitcoin is a doom, do something to make money, you may use the price of the bitcoin to earn money by buying bitcoin with its lower amount, or investing. I prefer to invest as of this moment because I know that the price of the bitcoin will goes high soon and if that thing happens I would earn money.

[Lucius]

For now , don't panic , don't buy stocks , don't buy anything , keep your cash near you.

"the time to buy is when there's blood in the streets."

The famous Baron Rothschild spoke this sentence back in the 18th century, and today his family are worth around $350 billion (x3 more then all BTC). So I think your statement is not good advice, because investing in something at the lowest possible price is never a bad idea. However, it is possible that BTC has not yet touched the bottom, and everyone needs to decide what to do with their money. I think at the moment most people in the world (small ordinary people) are not investing, because they are in fear and panic about the situation with COVID-19.


Bitcoin is experienced just one more in a series of heavy blows, but they say that what doesn't kill you makes you stronger. I believe that most people will create immunity to the new virus, and that in few months markets will recover.

[mahilchii]

Bitcoin is a precious gem it cannot be doomed, the market has crashed very hardly and yes the corona virus has bombarded the entire forum stocks, business everything. People are literally scared of this deadly virus, the majority of corporate companies are working from home and the media hype is very extreme than this virus. All you need to do is have some patience till the market recovers.

[davis196]

Has the Corona virus doomed Bitcoin ?

Nope - don't be ridiculous.......they want you to think this.

Firstly, we got into Bitcoin because of financial freedom - money and value that nobody controls - that will never be "doomed" ( but they'll always try to kill it ).
Secondly , I explain in the video below why after every crash investors first go for liquidity , and then into safe havens - we're only a week into this market crash , you will see the safe havens over the next few months.
Thirdly, blockchain has already entrenched itself with many use cases that we cannot ( and won't ) go back on.

Don't make a mistake selling guys - they want you to do this. HODL.
And watch my video here with more detail - https://youtu.be/QGdvGY9STdc

Good job posting pointless threads asking rhetorical questions only for the sake of promoting your Youtube videos.By the way,when you write "they want you to think this",who are "they"?The enemies of Bitcon?FUDsters?Roger Ver and Faketoshi?Nobody here is saying that coronavirus is destroying Bitcoin or something like that.One more thing,the investors go for liquidity DURING the price crash,not AFTER the crash already happened.