Is Bitcoin Doomed ?

[FlightyPouch]

Well, coronavirus did affect the market and there are a lot of people that are so shocked by the price change. I am used to these kinds of changes it is just really surprising it fell that low but still I see this as an opportunity to invest again and not sell my crypto currencies. If I did that, that just means that I admit losing my money. Instead of doing that, keep on holding; it will not disappoint you.

[akirasendo17]

no its normal for crypto currency  to go up and down, i think the reason why bitcoin goes dow is a lot of people i the world needs funds to buy food and other things needed for self guaranty, but the because the bitcoin economy is crashing, i've seen bitcoin in a few years now but this is not the lowest output of bitcoin , for me this is a right time to get few coins before it recovers in a few days, we can't prevent this kind of situation, this is not permanent
im sure

[yazher]

What we can see about the price today is the result of most of the holders selling their BTC at once in a single day last week. to be honest, the Corona Virus has something to do with this negative phenomenon in the market. because this is not about the crypto industry anymore, this is all about the whole world facing this problem. The word doomed is yet to come when the worst will not stop at any moment right now.

[bbc.reporter]

Bitcoin is not doomed, however, the free cryptospace we knew from before might be doomed. Prepare for more stricter regulations and invasion of privacy. All users and exchanges might not be safe except for the friends of Coinbase hehehehe.

This article made it appear to be good news, however.



US Treasury Secretary Steven Mnuchin Appoints Coinbase Chief Legal Officer to Oversee Banking System

Brooks will assume his new role, effective April 1, 2020, after having served as Coinbase’s chief legal officer since September of 2018. Brooks is also a former Fannie Mae executive vice president, general counsel and corporate secretary. Joseph Otting will step down as the current Comptroller of the Currency.

Source https://dailyhodl.com/2020/03/16/us-treasury-secretary-steven-mnuchin-appoints-coinbase-chief-legal-officer-to-oversee-banking-system/

[rodskee]

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

it wasn't the Corona Virus that Doomed Bitcoin or even the whole Crypto market but the Whales did
because they are the one who can control the situation,they can fund groups or individual to spread the
virus so will make the world shaken and the Dumping will happen.
this is the reason why
even the stocks are affected because of the spread but we can counter this by not selling our currency
instead Keep the holding so they can't Bag our money this time.

[LUCKMCFLY]

The Bitcoin market is very large today, it has large investors, obviously the Covid-19 Virus has become a great Fundamental, and in every speculative market the Fundamentals directly impact the market, most of it is causing falls in the market .

Bitcoin did not wait, when everything began in Europe the panic was present, and as expected it fell in price, but all markets also, despite the efforts made by the FED to inject money into the economy, this is not is a guarantee of nothing.

The Chinese are coming out of this stage of the virus, although it is not a reason to trust, since a much worse strain of the first stage can be generated, since many news reports that those who have been improved from the virus can repeat them even stronger.

The fact that Bitcoin has fallen similar to the other markets, does not mean that there is some kind of correlation between them, simply the emotions in the markets determine the most important big movements, from there it is where you should start to analyze.

[bitcoinvirtualcards]

No, it isn't doomed. There is like a million times bitcoin was considered dead and proved people wrong.

[yohananaomi]

No, it isn't doomed. There is like a million times bitcoin was considered dead and proved people wrong.

right, bitcoin is tough enough to experience things like this now and it will be able to rise again. maybe things like this have happened several times and bitcoin still survive and recover. not easy for bitcoin  doomed, be patient and wait for the repair to occur.

[GDragon]

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

It's not, every time bitcoin drops, critics come out and start making noise. We have to accept that it will take time to recover and it will be hard for the investors to believe in bitcoin, its true. There are so many factors affecting Bitcoin, and one main factor is the panic. People control the market. This is not the last time that it will go down, but I believe it will always go up.

[Debonaire217]

Let's think of bitcoin situation as opportunities, an opening to serve people for them to buy bitcoin at situation like these with corona virus making its way to prevent people to transact. Because if we think of the situation as bitcoin falling and people hodling it becoming hopeless, nothing will happen. Instead, be positive about it.

And for those who think the concept about bitcoin being a safe haven, I think the situation already state the fact about it. For now, we need to stay calm and should not worry too much because it is the characteristic of bitcoin, which is being an extremely volatile asset.

[CaVO32]

Let's think of bitcoin situation as opportunities, an opening to serve people for them to buy bitcoin at situation like these with corona virus making its way to prevent people to transact. Because if we think of the situation as bitcoin falling and people hodling it becoming hopeless, nothing will happen. Instead, be positive about it.

And for those who think the concept about bitcoin being a safe haven, I think the situation already state the fact about it. For now, we need to stay calm and should not worry too much because it is the characteristic of bitcoin, which is being an extremely volatile asset.

this another challenge in bitcoin will pass before we know it. pandemic like this doesn't take forever because it can be resolved by tangible solutions such as vaccine and medicine that will cure the disease. and because we have better technology as compared with the old days, the respective institutions will find the solution faster. so i don't think bitcoin is doomed, it will rise up again after this problem. bitcoin has been with all kinds of issues, problems yet still fighting to be in the mainstream and the users keep on growing. so there's no doubt it will recover its market again.

[bakasabo]

this another challenge in bitcoin will pass before we know it. pandemic like this doesn't take forever because it can be resolved by tangible solutions such as vaccine and medicine that will cure the disease. and because we have better technology as compared with the old days, the respective institutions will find the solution faster. so i don't think bitcoin is doomed, it will rise up again after this problem. bitcoin has been with all kinds of issues, problems yet still fighting to be in the mainstream and the users keep on growing. so there's no doubt it will recover its market again.

But so far there is no vaccine or medicine against COVID-19. The virus speeds persons other illness to develop and only after these illnesses are cure, the person is tagged as "recovered" from COVID-19.

At the moment medicine cures the result of he virus, but has no cure against virus itself...

[markdario112616]

But so far there is no vaccine or medicine against COVID-19.

I agree, though there's a one medicine that has been made that was given a green signal to be out for testing. We'll it's still a trial and error practice per se in medical field no assurance still.


For OP, I see that Bitcoin is still stable at is and nothing to worry. Maybe for other players out there, it could be. If you monitor the stocks update, most of the Public entities are now in downward trend. The holders, are redeeming their assets avid with this pandemic and It's quite amusing how low are the stocks for those who used to be at the top. I see it as advantage as well, this pandemic will sure end and stocks would go back to normal.

*Buy Low and Sell high 

[xvids]

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.

It is true it isn't just crypto that has been affect because of it and it isn't the end of it,
Crypto and other industry would surely go back to normal when this virus gets cured so we don't need to worry about the price we should be more concern about the health of those who are infected and those who are at a high risk to be infected.

[witcher_sense]

What we can see about the price today is the result of most of the holders selling their BTC at once in a single day last week. to be honest, the Corona Virus has something to do with this negative phenomenon in the market. because this is not about the crypto industry anymore, this is all about the whole world facing this problem. The word doomed is yet to come when the worst will not stop at any moment right now.

According to CoinMetrics, the decline was triggered by short-term investors holding bitcoins for less than a month. See below:



We can't call them "most of the holders" because they're not holders at all. However, I agree with the part that a pandemic could be the cause of their panic. The whole world is now in a panic state, this could also affect the mood in the crypto industry.

[Krislaw]

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

Yeah, it's not really doomed judging by yearly historical data. Last time it went below its yearly ATH was I think 5 years ago (2015). It's ok as long as there is volume and activity in the market.
I don't know why we are panicking, the world economy is crashing ,what do people expect crypto to do? Keep increasing? No. It's a store value, people are cashing out to get themselves supplies for self isolation.

[Gladiator25]

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

Corona virus really does an effect on the bitcoin and altcoins in the crypto market but it didn't totally dominated the bitcoin. Corona virus just lessen the ways of transactions because there are still bitcoin that are being transacted in physical. Corona virus will just decreases the price in the market but it will not make the bitcoin to be deleted.

[Janation]

Another manipulation? We don't know.

All we know is that the price of Bitcoin fell much worse than this in 2018. A lot of people thought that Bitcoin and other cryptocurrencies are starting to crumble, starting to die but it didn't. Bitcoin will always recover, from the past dumps up until now, it still proves that it will never let us down. Bitcoin will keep on giving us profit, that will be the same to other cryptocurrencies.

[Assface16678]

Another manipulation? We don't know.

All we know is that the price of Bitcoin fell much worse than this in 2018. A lot of people thought that Bitcoin and other cryptocurrencies are starting to crumble, starting to die but it didn't. Bitcoin will always recover, from the past dumps up until now, it still proves that it will never let us down. Bitcoin will keep on giving us profit, that will be the same to other cryptocurrencies.

The previous price of the bit of before are in a good state and now it is rapidly falling and this is not a good sign because it really affects the whole market and at the same time, the investors and one of the reason why does it happen is because of the pandemic outbreak that is rapidly spreading. Still, it is a good opportunity to the people to make a start for investment because from 9k dollar it falls into 5k dollars but doesn't lose hope because yesterday the market price of the bitcoin goes up and this is also because to the investment that is almost $25 dollars investment the cryptocurrency and many people today are hoping that this coming halving will beat now the market price from the previous year of the bitcoin.

[marlo1001]

Bitcoin is still not dead (c) Pomp
I believe that everything will recover in the future. Keep halving in mind