Bitcoin during pandemics

[Twentyonepaylots]

Been seeing a lot of post about the COVID-19 and how it affects different markets like stock, oil and cryptocurrency
but I wonder if these things are just now or it happens every time there is a pandemic disease like this.

I tried to search for some charts that might help to analyze if there are really a direct effect on the bitcoin with https://cointelegraph.com/bitcoin-price-index

I'm not going to include the 2009 H1N1 pandemic virus since the bitcoin was created on that same year. I'ma start in 2012,
Middle East Respiratory Syndrome Coronavirus (MERS-COV)

DATED from Jan1 to June31 2012 (6months)
Discovery of MERS-COV was in April, Seems like there isn't much effect on the price not until in June when it starts to increase ( about 20%)


Ebola Virus
Although it was first discovered in 1976, there is an outbreak happened last 2014.

DATED FROM Jan1 to June31 2014 (6months)
The price increased relatively.
Price dump in Feb but recovers in March where the first case of Ebola was recorded.



COVID-19
Discovered in late 2019 (Pandemic outbreak; Recent)


The price seems great in mid-feb and reached $10K but then it starts declining when things are getting worse with COVID-19.

The bitcoin seems unaffected by the first two pandemic at those time, while now the COVID-19 looks so impactful but why?
The relative increasing of price might be the root why such pandemic disease happen so rattling the crypto space.But then again we cannot assure these things.

I'll update this thread if necessary.

[BrewMaster]

it is not COVID-19 that has affected bitcoin price, it has never been because there simply is no relationship between the two. it is literary every other market that has been dumping and the fear that the weak hands had thinking there should be a dump in bitcoin too so they jumped the ship. with whale manipulation accumulation on top, we've got ourselves a big crash

[Twentyonepaylots]

it is not COVID-19 that has affected bitcoin price, it has never been because there simply is no relationship between the two. it is literary every other market that has been dumping and the fear that the weak hands had thinking there should be a dump in bitcoin too so they jumped the ship. with whale manipulation accumulation on top, we've got ourselves a big crash

There is no relationship between these two but thing is people behave based on what the situation outside. As what you have said people are simply panicking, fearing and having a weak hands so basically this is because of the pandemic. This isn't just a coincidence that's for sure.

[jacafbiz]

There is no real sample size for your dataset to come to conclusion, the first two are mostly a regional thing and I do not think it has any effect on global market, surprise you did not put SAR Virus in it, which seems to have more casualties than the first two on your list.

[Twentyonepaylots]

There is no real sample size for your dataset to come to conclusion, the first two are mostly a regional thing and I do not think it has any effect on global market,

Yeah, I get it these are just pure assumptions of mine.

surprise you did not put SAR Virus in it, which seems to have more casualties than the first two on your list.

I know that one but it has been 17 years since it was discovered in China, Bitcoin wasn't born until 2009 so I disregard including it.

[philipma1957]

h1n1 was close to this.  but in theory this is worse.

I posted wiki stats on h1n1  700,000,000 to 1,400,000,000   caught in from 2009 to 2010  and 175,00 to 575,000 died.

those are just estimates.

So if this corona-v spreads to 700,000,000 at 2% we have 14,000,000 dead  at 5%  35,000,000 dead
If this corona-v spreads to 1,400,000,000 at 2% we have 28,000,000 dead   at 5%  70,000,000 dead

Every move of any investment in any market is being based on the numbers above

Every move of any investment in any market is being based on the economic damage to come from fighting this virus.

So  drink that in and think about this from a whale viewpoint.

Hmm   hotels take a huge hit.
Hmm   airlines take a huge hit.
Hmm   restaurants take a huge hit.
Hmm   cruise business crushed

Hmm   ventilator manufacturers looking good.
Hmm   internet remote ip should grow bigly.
Hmm    gold, silver, metals should be good

Crypto coins via mining  I think they are undervalued. (maybe whales will think this)

You have 1 billion in investments how and where do you shift?  This is a big question.

Now that first shock has hit the big money guys they are busy think what to do with the assets they own.

big money guys  are shifting their shit around.

I ask you a simple question today and for the next year do you want  10 million worth of btc or 10 million worth of princess cruise line stock.

I rate btc and crypto ahead of a lot of other investments that this virus is going to hurt.

I feel it will go stable soon and then rise better then a lot of stock for a lot of companies .

But what the fuck do i know I am just a  guy typing on a key board in New Jersey, USA  

[SUMBI99]

Previous pandemic diseases cover mostly in someplace like ebola in congo and in other parts where fine even the nearest country like Tanzania no even a single case of ebola there, it quit different with this disease COVID 19 how it spread  very fast and widely, but what we forget in such situation people tend to use  money and buy staff to stay cautionry no matter how and it worth or not and as you understand china people with crypto and bitcoin, probably many chines sold for cheap to cover expenses on the situation,

[minersday]

it is not COVID-19 that has affected bitcoin price, it has never been because there simply is no relationship between the two. it is literary every other market that has been dumping and the fear that the weak hands had thinking there should be a dump in bitcoin too so they jumped the ship. with whale manipulation accumulation on top, we've got ourselves a big crash

I don't really think I agree with you on this. The COVID-19 pandemic has indeed influence the entire crypto market and the stock market. Considering from the day the COVID-19 gained the entire world attention, the market price of Bitcoin dropped to a percentage which has never recorded since Bitcoin was introduced to the financial ecosystem. In as much that there have been bigger crashes in the bitcoin ecosystem, this crash is somehow the biggest. Pandemics always have influence on financial ecosystem.

[minersday]

There is no relationship between these two but thing is people behave based on what the situation outside. As what you have said people are simply panicking, fearing and having a weak hands so basically this is because of the pandemic. This isn't just a coincidence that's for sure.

The pandemic nature of COVID-19 makes it the reason behind the crashes seen in the financial ecosystem. The pandemic nature of COVID-19 is what's causing fear and panic in people. This fear and panic is the basic cause in the crash of the market value of Bitcoin and other cryptocurrencies. In my basic understanding, COVID-19 is actually the cause of this crash of the Bitcoin market..

[Twinkledoe]

There is no relationship between these two but thing is people behave based on what the situation outside. As what you have said people are simply panicking, fearing and having a weak hands so basically this is because of the pandemic. This isn't just a coincidence that's for sure.

The pandemic nature of COVID-19 makes it the reason behind the crashes seen in the financial ecosystem. The pandemic nature of COVID-19 is what's causing fear and panic in people. This fear and panic is the basic cause in the crash of the market value of Bitcoin and other cryptocurrencies. In my basic understanding, COVID-19 is actually the cause of this crash of the Bitcoin market..

Because unlike previous cases like MERS or SARS, COVID is making a lot of countries closed their borders from everyone. Manufacturing companies shutting down and a lot of business are closed. This is my first time in my lifetime to experience this kind of impact from a virus. Have you seen countries or areas that are totally lockdown because of MERS or SARS? From what I remember only few areas are in lockdown. But with COVID, it is around the globe, flights are being cancelled in and out of countries. That's why even bitcoin is affected because most crypto users even if it is scattered around the globe, they are almost all affected by this pandemic.

[samcrypto]

it is not COVID-19 that has affected bitcoin price, it has never been because there simply is no relationship between the two. it is literary every other market that has been dumping and the fear that the weak hands had thinking there should be a dump in bitcoin too so they jumped the ship. with whale manipulation accumulation on top, we've got ourselves a big crash

There is no relationship between these two but thing is people behave based on what the situation outside. As what you have said people are simply panicking, fearing and having a weak hands so basically this is because of the pandemic. This isn't just a coincidence that's for sure.

Not the virus itself but its really more on the action of the people. Besides, there’s no mass adoption before with bitcoin and people have no care to bitcoin at all before so we can’t see a big dump from the two previous pandemic. Covid19 is totally different, on this time more people already know bitcoin and almost all the investors are panicking and the effect is really bad for the market of bitcoin.

[palle11]

I want to really commend Op for the thread. It reminds me of Ebola too in 2014, it was a battle too and I believe the way it was fought to standstill, corona virus too will go down

[kemoglo]

it is not COVID-19 that has affected bitcoin price, it has never been because there simply is no relationship between the two. it is literary every other market that has been dumping and the fear that the weak hands had thinking there should be a dump in bitcoin too so they jumped the ship. with whale manipulation accumulation on top, we've got ourselves a big crash

There is no relationship between these two but thing is people behave based on what the situation outside. As what you have said people are simply panicking, fearing and having a weak hands so basically this is because of the pandemic. This isn't just a coincidence that's for sure.

Yup. In my group of friends I saw in a smaller scale how this panic manifested differently on each of us. Me and a couple others decided to stand strong and hold, but another friend for example decided to sell because he was short on cash, and good call on him as he sold just before the dip, so I also wouldn't go too hard on people who sell calling them weak hands, maybe their current position in FIAT and whatnot wasn't as confortable as others.

So while yes there's no relationship, yes, also, it isn't a coincidence.

[hatshepsut93]

MERS epidemic was small, so it didn't affect the markets much. Same goes for Ebola - the fact that Bitcoin dropped during that time is a coincidence, as Bitcoin was experiencing a bubble that popped at that time. Now the recent crash was different, because it caused a real panic on stock market, since all countries were taking drastic measures that hurt their economies. Bitcoin was always a risky asset, so this time when things actually got serious, investors started selling it, which triggered a big crash.

[Meowth05]

Maybe the reason that there is an impact felt in the cryptocurrency market is that if you look at the spread of diseases. Ebola and Mers was not declared pandemic but it is different for COVID-19 because it was declared WHO as a pandemic thus creating a ripple effect in the market.

[TitanGEL]

it is not COVID-19 that has affected bitcoin price, it has never been because there simply is no relationship between the two. it is literary every other market that has been dumping and the fear that the weak hands had thinking there should be a dump in bitcoin too so they jumped the ship. with whale manipulation accumulation on top, we've got ourselves a big crash

There is no relationship between these two but thing is people behave based on what the situation outside. As what you have said people are simply panicking, fearing and having a weak hands so basically this is because of the pandemic. This isn't just a coincidence that's for sure.

They are panicking because the current situation is not normal where it is not like the recession that happened in all these years. The crash happened because all of the financial markets are falling where people are now want cash in order to preserve their wealth. The crash means that investors are pulling out there money because of the fear, we should be prepared more on what will happen in the market because we are now in the oversold zone where the sellers are in control.

[pooya87]

why not use the stats of regular and annual "influenza"?
there has been 34 million cases of flu in the United States, 350,000 hospitalizations and 20,000 deaths. and that's just US and this happens every year not just a short term pandemic.
in comparison all over the world there has been 219k total cases with 8k deaths of coronavirus.

i said this before too, the only reason why COVID-19 is causing panic like this is because it is new and "sexy" and the media is covering the shit out of it. and of course the market manipulators are enjoying it a lot with their shorts in all markets (stocks, gold, oil, bitcion,...)

[coingecko]

The correction in traditional markets have spiralled into cryptocurrency - likely due to margin calls and such

[davis196]

Back in 2012 and 2014,Bitcoin wasn't widely adopted and those viruses (MERS and Ebola) weren't spreading with a lightning fast speed across the world,causing panic and closing borders.Your comparison is completely wrong.Anyway,I'm glad that the Bitcoin price is stable at around 5,2K USD.There might be another decrease to around 4K USD or even lower,if the extreme situation continues.I think that the pandemic situation will continue in the Western world for at least 2-3 months.We don't know how the virus will react to the summer heat.

[yohananaomi]

People are panicking, selling bitcoins, the price is dropping. People are panicking because of the coronavirus. Therefore, it seems to me that there is still a connection between coronavirus and a drop in the price of bitcoin.

all related to emergencies will certainly affect crypto including bitcoin. because even though not directly but the impact will be affected as well and many are panicked in responding to this. As the epidemic is gradually resolved, it will return to positive things again. I hope this epidemic can be handled properly.