60% Wiped Out - Will Bitcoin Have a Hard Time Finding Investors After This?

[cryptozink]

Andreas Antonopoulos warned us about an imminent bitcoin crash two months ago. BTC Twitter tries to keep their spirit up with humor and pain sharing:
 
https://www.cryptozink.io/coronavirus-panicking-leads-to-bitcoin-crash-60-percent-in-hours/

[avikz]

Another COVID-19 story to link with bitcoin. Another attempt to think USA is the leader of the world.

Is it very hard to believe that some scammers from Korean country has sold off over 100 million of siphoned money? The world market is bleeding because majority of the production factories are shut due to the COVID-19 pandemic. Majority of the service sector people are working from home wherever possible to keep up with the demand. The overall sentiment in the market is very very bearish.

What on earth it has to do anything with bitcoin? While we don't have a particular answer why the crypto market is bleeding - people are happy to link it with the COVID-19 outbreak. But the story below sounds more convincing.

https://www.coindesk.com/bitcoins-sharp-price-drop-may-have-been-prompted-by-100m-scam-selloff

[Little Mouse]

June 2011- $31
Dec 2011- $2

Nov 2013- $1242
Dec 2013- $600

And from ATH in 2017x BTC later reached $3200 may be in 2018 and again rose to $13000.
It is not the first and it will never be the last to see such volatility.
Since there was no lack of investors back and each time with such dip, BTC came back with much stronger, I think there will be no problem at all.

[Oasisman]

What on earth it has to do anything with bitcoin? While we don't have a particular answer why the crypto market is bleeding - people are happy to link it with the COVID-19 outbreak. But the story below sounds more convincing.

https://www.coindesk.com/bitcoins-sharp-price-drop-may-have-been-prompted-by-100m-scam-selloff

Add those two and the answer will definitely reflect on Bitcoin's price.
Yes, the plustoken scam and dump had the biggest impact, lossing billions of dollars in the market cap.
But, the panic from the pandemic adds to the burden.
That's why you can't blame these people from linking the covid-19 to the current price slump of Bitcoin.

We don't have any concrete explanation during the price went up and down though, all we have is speculations and rumors, thus it can change the market sentiments.

[Kakmakr]

The last crash was 80%+ and we recovered back to almost $13 000 in the next year. Why would a 60% drop in the price be any different now? Global stocks and shares are taking similar hits now, so everyone are feeling the same pain.

Things will bounce back and we should rather focus on the investment opportunities that are being presented to us now, in all the low prices that are on offer. I bought some bitcoin at $4890, because I know I will make a profit on those coins in the near future. < If it goes back to $9000 to $10 000, I will make a 100% profit> 

[pakhitheboss]

June 2011- $31
Dec 2011- $2

Nov 2013- $1242
Dec 2013- $600

And from ATH in 2017x BTC later reached $3200 may be in 2018 and again rose to $13000.
It is not the first and it will never be the last to see such volatility.
Since there was no lack of investors back and each time with such dip, BTC came back with much stronger, I think there will be no problem at all.

I agree to what you are saying but you forgot another important aspect.


Global economy meltdown -2008
Bitcoin invented - 2009

Covid 19 - 2019
Global economy meltdown -2020

If Bitcoin can survive this meltdown which is going to be big then it will be immune to any such issue. This is the perfect time to test it. This is the reason why it was invented in 2009.

I am hopeful it will survive..

[crwth]

It’s good that he predicted the crash, but I hope that he understands that it’s not just bitcoin but every other stuff that there is because the current economy now is different and there are a lot of people cashing out there earnings for the need of supplies to last this type of event.

For the investors in bitcoin, I think it still necessary to consider the the fact that it is yet the number one cryptocurrency, and it’s going to be mined continuously, and even if it goes down in value, it will still be a good asset in my opinion.

[Meowth05]

This plummet would surely hurt the investor reputation of bitcoin but I think there are a lot of oppurtunity for the bitcoin to rise again, be patient and it will go skyrocketing again (I hope). We don't really need to lose hope. This pandemic will be over in a no time and when that happen maybe a spike will happen.

[Thewolfofcrypto]

btc as the whole market is still bit down. We can't say in could get well after recent 2017-2019 crisis

[odolvlobo]

Bitcoin doesn't need investors. A good currency has very little investment. Bitcoin will have succeeded when nobody wants to invest in it anymore.

[Wexnident]

This is just temporary. It's not like Bitcoin died or anything, it's usage become non-existent or something better than it came up ( and even if it actually did, i'd guess a split or so of investors). Mostly because of the panic currently ongoing around the globe, Bitcoin has dropped down by such a huge amount. A lot of factories have temporarily closed down, a lot of businesses started closing down temporarily as well, people have no source of income (temporarily) and they are in need of money to spend towards supplies (*ahem hoarding ahem*).

Expect that once a vaccine has been made, panic would quickly subside and the market would probably start going up like really quickly. Why? Because the most threatening problem on the eyes of the populace is gone, so they'd probably strat returning to their everyday lives. Once they see the market and it's price, who wouldn't buy it up right?

[Sadlife]

I think no, from here on out Bitcoin will be widely known and popular as an alternative investment to safeguard people's money.
If the economic crisis continues to plague fiat and stock market investors/traders then some people might start venturing to other better and valuable asset such as Bitcoin, Gold or Silver.

[maydna]

I guess bitcoin will not hard to find investors after this because many people are already buying bitcoin at $4,500-$4,900, so they only need to wait for a while to sell the bitcoin at a high price. And if the price can rise so high, that means their profit will become bigger, and they will have a chance to recover they're lost before. But if bitcoin price still not increase so high, and the price comes back to the lower price, perhaps, they will buy more and more bitcoin, or they can hold the bitcoin for more.

[CaVO32]

This is just temporary. It's not like Bitcoin died or anything, it's usage become non-existent or something better than it came up ( and even if it actually did, i'd guess a split or so of investors). Mostly because of the panic currently ongoing around the globe, Bitcoin has dropped down by such a huge amount. A lot of factories have temporarily closed down, a lot of businesses started closing down temporarily as well, people have no source of income (temporarily) and they are in need of money to spend towards supplies (*ahem hoarding ahem*).

Expect that once a vaccine has been made, panic would quickly subside and the market would probably start going up like really quickly. Why? Because the most threatening problem on the eyes of the populace is gone, so they'd probably strat returning to their everyday lives. Once they see the market and it's price, who wouldn't buy it up right?

vaccine is already in trial phase as we speak. and there are quite number of institutions and pharma companies that are into developing the vaccine. about 35 companies are racing to find the vaccine. I guess the number of companies is more than this as it is around the globe that is finding this precious vaccine and possibly cure for those that are already infected.

https://www.theguardian.com/world/2020/mar/17/when-will-a-coronavirus-vaccine-be-ready

https://edition.cnn.com/2020/03/17/health/coronavirus-vaccine-first-dose-participant/index.html

we are starting to see green again in the market. i hope there will be more positive news coming from these companies in the coming days. so the situation of what we have right now is just temporary, it is not forever that they will not find solution for this pandemic.

[denzkilim]

Andreas Antonopoulos warned us about an imminent bitcoin crash two months ago. BTC Twitter tries to keep their spirit up with humor and pain sharing:
 
https://www.cryptozink.io/coronavirus-panicking-leads-to-bitcoin-crash-60-percent-in-hours/

Linking a virus to Bitcoin, again and again, lmao By the way the Crypto Currency Bitcoin is created not a form of investment if you have carefully read Bitcoin's whitepaper. Bitcoin's value depends on the people who trade it and not the people who invest or bought it, for example, Bitcoin can soar really high without any new investments as long that the majority of the hodlers hodls it and not selling for a low price if you know what I mean.

[thesmallgod]

This time suppose to even be the time that bitcoin suppose to grow in my own opinion because there has been numerous reports that the virus can be spread through contact between the infected person and the fiat currencies which when pass around can be contacted by an individual. In such instance, BTC and other crypto suppose to witness higher usage for purchase of goods and services since it is not like fiat which can be transferred through direct contact when trading

[Viscore]

June 2011- $31
Dec 2011- $2

Nov 2013- $1242
Dec 2013- $600

And from ATH in 2017x BTC later reached $3200 may be in 2018 and again rose to $13000.
It is not the first and it will never be the last to see such volatility.
Since there was no lack of investors back and each time with such dip, BTC came back with much stronger, I think there will be no problem at all.

Bitcoin will come back for sure, bitcoin is a strong asset, it's been declared dead many times and prove investors wrong many times.
Just try to think of the possible future income, usual reason why bitcoin dump is due to the panic, and this time is quite a big panic is happening, but can we ask our selves again, have we not learn already on what has happened in the past? if the answer is yes then we should hold.

Yes there is a pandemic but nobody says it will stay forever, the world will not end on this and therefore business will recover, economy will boom again and bitcoin will bounce back.

[buwaytress]

Or, maybe we need to again remember that Bitcoin's never needed any excuse to drop or spike suddenly. Events could be related, could not be, but people then follow their emotions in a flurry of self-fulfilling prophecies.

Re world economy collapsing. Surely we can't blame coronavirus too much when even banks were already warning of imminent meltdown as early as 2017? The regular "global crisis" cycle is just coming back. Normal bank knee-jerk reactions are happening, GDP slowdowns already noticed long before Wuhan hit the panic button.

Not saying there's no effect from corona. Just saying banks and states are probably slightly relieved they now have a scapegoat.

[davis196]

Andreas Antonopoulos warned us about an imminent bitcoin crash two months ago. BTC Twitter tries to keep their spirit up with humor and pain sharing:
 
https://www.cryptozink.io/coronavirus-panicking-leads-to-bitcoin-crash-60-percent-in-hours/

Did Andreas Antonopulos predict the coronavirus panic?Is he the new Nostradamus?
Will Bitcoin "find" new investors after this crash.Sure,why do you even doubt this.New investors will come for sure,but the important question is "When?".The funny thing is that many people were thinking that a digital asset with such price volatility can have a stable price and act as a safe heaven in case of a global disaster.
By the way,I won't click on the link you posted.I don't know anything about this website/blog and such blogs might have malicious code.

[Mulann2]

Same way people can't give a valid answer when btc rise in price is the same reason why no one can give a valid answer to your question, i guess the only valid thing to do at this moment is to wait and watch, this dump has been attributed to various reason but nobody can say for certain what is the cause, so asking this same question all the time won't help anyone, the dump has already happen, what is left now is wait for recovery, btc will definitely recover.