Bitcoin during pandemics

[Tiews223]

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%)
https://i.postimg.cc/kMhDRLsm/lol.png

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.
https://i.postimg.cc/Z0tSFP0r/ebola.png


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

https://i.postimg.cc/P5dqghr1/COVID.png
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.

Many businesses, jobs, transactions that are being affected by the current global crisis. Hence, many of us are affected in so many ways like, income, stocks and different exchanges. The pandemic has caused many physical businesses to close and so their employees are forced to leave work without security in terms of finances. I think in terms using bitcoins to purchase items online will help in lessening the physical contact, hence, lessening the possibility of passing the disease on to another person.

[fabiorem]

The bitcoin seems unaffected by the first two pandemic at those time, while now the COVID-19 looks so impactful but why?

First, the World Bank pandemic fund, which was to expire in june this year, got called out by the WHO, when this organization declared a pandemic. This is a half-billion dollar fund from 2017: https://qz.com/1017805/the-world-bank-issued-425-million-in-pandemic-bonds-and-derivatives-designed-so-investors-pay-in-the-event-of-an-outbreak/

This created a snowball effect in the markets, as big investors had to pay for the fund, thus taking money from other funds, which caused a crash in the legacy (ie, fiat) markets. Bitcoin is being used by hedge funds since 2017, so they shorted it to cover the snowball effect.

Second, derivatives speculation. Without Bitmex, the price would have fallen to 5k and we would be at 9k now. With Bitmex, the price didnt go to zero because of a hardware failure in their servers. Derivatives use leverage to bet into bitcoin prices, like in a casino. Bitcoin is liquidated to pay those who bet into a crash, so the price dropped to 3k. I warned about derivatives several times since 2017, but people ignored it. Bitmex is not alone on it, there is also CME and Binance futures as well, but Bitmex answer for most of it.

These were the two determinant factors here. They prove bitcoin is pegged to the legacy system, and is no more a store of value, like it was believed earlier. If the system crashes, bitcoin will go with it, being used as hedge to mitigate losses for big investors. Add to this the derivatives casinos and you have a recipe for disaster.

Things like the pandemic fund will not happen again, but the derivatives casinos will keep the price down, causing a permanent bear market. It happened with gold and silver.

[bitcoinethereum]

Hi Twentyonepaylots, It seems that one of the main reasons Bitcoin, and other cryptos are being affected by Covid-19 much more than they were by MERS, etc,  is because of the widespread, systematic shut downs going on all around the world. Entire industries have been forced to close by governments (both capatlist and socialist, democratic and oppressive). This has never happened before on such a large scale, and for so long. Here in the US, and especially here in California, everything will remain closed for probably 12 more weeks. This is causing total panic among people to cash out and just save their money. Unfortunately crypto is not immune to this.

[fabiorem]

Hi Twentyonepaylots, It seems that one of the main reasons Bitcoin, and other cryptos are being affected by Covid-19 much more than they were by MERS, etc,  is because of the widespread, systematic shut downs going on all around the world. Entire industries have been forced to close by governments (both capatlist and socialist, democratic and oppressive). This has never happened before on such a large scale, and for so long. Here in the US, and especially here in California, everything will remain closed for probably 12 more weeks. This is causing total panic among people to cash out and just save their money. Unfortunately crypto is not immune to this.

This is also another reason. Not the virus, but the hysterical reaction to it.
The shutdown could include the internet and even electricity, and bitcoin is highly dependent on these two resources. So people panic and sell.

The flu kills much more people each year and dont have this reaction by governments. This is why I dont believe the narrative the media is delivering. There is something else going on.

[Twinkledoe]

Hi Twentyonepaylots, It seems that one of the main reasons Bitcoin, and other cryptos are being affected by Covid-19 much more than they were by MERS, etc,  is because of the widespread, systematic shut downs going on all around the world. Entire industries have been forced to close by governments (both capatlist and socialist, democratic and oppressive). This has never happened before on such a large scale, and for so long. Here in the US, and especially here in California, everything will remain closed for probably 12 more weeks. This is causing total panic among people to cash out and just save their money. Unfortunately crypto is not immune to this.

This is also another reason. Not the virus, but the hysterical reaction to it.
The shutdown could include the internet and even electricity, and bitcoin is highly dependent on these two resources. So people panic and sell.

The flu kills more people each year and didnt have this reaction by governments. This is why I dont believe the narrative the media is delivering. There is something else going on.

I don't think conspiracy theory again going on here. This is reality, the virus is spreading fast the reason why a lot of businesses are closed and many countries are in lockdown. And because we don't know how long this will gonna be, people are in panic mode and they want to hold cash as much as possible to buy their necessities.

[bitcoinethereum]

Hi fabiorem, In terms of governments shutting down electricity, that probably is unlikely as Hospitals would be affected. Though perhaps in 3rd world countries they could divert the electrical grids to just focus on hospitals, which then would affect Bitcoin mining, etc. Though you're right, as well as Twinkledoe, that there is hysteria, and people are in panic mode, and that is affected everything, including crypto.

[qory]

During pandemics or Corona virus bitcoin and altcoin price never wake up and exactly always down, maybe many people and investor tired with their investing still lower price and keep focus how to attack from corona virus than thinking with their investment in bitcoin and altcoin.

[bearexin]

A pandemic is likely to affect anything, this recent one is critical and it affected stocks as well; at first I thought that gold was not going to be affected but it later dropped from over 50,000 USD down to 47,000 USD or so. They have all been recovering as of recent and I hope that this situation comes to an end; Gold is now over 52,000 USD and bitcoin is over 6,000 USD.

I have seen some analysis where some people are trying to say that the pandemic is not the cause for the fall in bitcoin price, they have pointed out other reasons that possibly could have caused the decrease in the price of bitcoin. I'm finding it difficult to believe those, this pandemic seems to be clearly the cause of it. I know that those people might be trying to defend bitcoin as a safe haven and to prove that it wasn't the pandemic that caused it, but that's of no need.

[FanatMonet]

A pandemic is likely to affect anything, this recent one is critical and it affected stocks as well; at first I thought that gold was not going to be affected but it later dropped from over 50,000 USD down to 47,000 USD or so. They have all been recovering as of recent and I hope that this situation comes to an end; Gold is now over 52,000 USD and bitcoin is over 6,000 USD.

I have seen some analysis where some people are trying to say that the pandemic is not the cause for the fall in bitcoin price, they have pointed out other reasons that possibly could have caused the decrease in the price of bitcoin. I'm finding it difficult to believe those, this pandemic seems to be clearly the cause of it. I know that those people might be trying to defend bitcoin as a safe haven and to prove that it wasn't the pandemic that caused it, but that's of no need.

Gold is quite stable, and even continues to grow, despite the signs of an approaching recession, although gold is still the main asset, and is always in demand, especially during periods of various catastrophic situations, such as recessions, wars, and much more.

[philipma1957]

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 [url=https://cointelegraph.com/bitcoin-price-index]https://cointelegraph.com/bitcoin-price-index][/url]

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 [url=https://cointelegraph.com/bitcoin-price-index]https://cointelegraph.com/bitcoin-price-index[/url]

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.

As I understand the word pandemic it means most every country has an epidemic.
So this is the first pandemic of note since the spanish flu in 1918-1919. Dont count the 2014 diseases.


Also if all that is wrong Btc had very little value in 2014 as compared to 2020.



More whales 🐋 own it now and they have complex investment platforms. When everything tanked only gold hung in there dropping less then 5%. So the whales 🐳 included shifting btc as part of defending their piles of wealth.

If I were a whale 🐋 I would set my wealth up by judging what I think will go down due to this world wide pandemic.

Airlines
Boeing
Movies 🎥 
mid to higher priced restaurants

all above  look to be losers in this new world  🌎

cryptocoins can be mined maybe good.

respirator builders very good.
ppe builders very good.

gold okay to good


platinum bad
palladium bad
oil bad

I am merely guessing above.

less cars 🚙 due to quarantine
less oil burned  due quarantine

less need for platinum due to less cars 🚘
less need for palladium due to less cars 🚗

So if you are loaded with a bad hold you will push to sell off.

this disease is everywhere. so lots are going to be affected.

[Shasha80]

In my opinion the price of bitcoin is affected by the spread of the corona virus because the spread is so fast, imagine in just a few months
all countries in the world are affected. So naturally the price of bitcoin is also affected to go down, even though many people say no the
relationship between corona viruses and bitcoin. Unlike the Ebola and MERS viruses the spread is not as fast as the corona virus, so it
doesn't make it panicked citizens of the world. So the price of bitcoin is not affected at that time.

[South Park]

I'm thinking about an extreme case, where the pandemics keep going on for a year or two, and there are almost no one here have USD, all go broke, all they have is cryptocurrency, is it possible to start to use cryptocurrency to make some economy activities without caring about fiat money anymore?

It seems that no matter how much fiat money they print, it still don't reach the people that most need them

This happens because most of the money they print goes to save their friends and other powerful people of suffering from this collapse and at best a very small part of that money goes to the people, if the crisis lasts as long as you state then the economy is going to be in serious trouble and panic will take over most people, as such the population will have to find a way to deal among themselves and avoid using the fiat of the government since at that point it will have very little value and bitcoin will be a great option during those times.

[verita1]

BTCitcoin is being affected due to the Covid19 pandemic. People need to move their money for their daily needs, store groceries, buy medicine, etc. We are living in difficult times, we have stopped working and therefore the economy is being affected. We need to control the Coronavirus to keep the market calm.
Sadly we are losing innocent people and for humanity, we must pray for the cure to come soon and we could save more lives.

[rodskee]

maybe those recent Pandemic affected a little in crypto market but this one (COVID-19) is the worst.
we even Draw down upto 50% in market price in just a day things that i believe never happen from the past(since i started learning crypto).
The panicking of investors lead this dump happens badly.
but like the chart you've posted each fall has a follow up growth sooner so lets just wait till it happens.

[jostorres]

I have seen a lot of people trying to associate bitcoin with all sort of things. Sometimes I say they might just be coincidence and not really something to be taken serious. Something as serious as a pandemic is not something to joke around, and I know for sure that it must have affected the price of bitcoin in some ways.

There are also lots of things that has been mentioned, and those includes bitcoin miners, the Plus Token scammers, and some others. These are the things that are believed to have made the impact that led to the recent fall. Two that I am not going to doubt is this covid-19 and Plus Token scammers.

[Zionatin]

As we can see in the graph the pandemic corona virus has a large impact in the market price, because this virus is easily transfer from human to human by just coughing and touching the infected objects. The coronavirus also effects all the currencies because many people are just stable in their houses so that the price of every currency are going down. I hope that this crisis will end soon and everything will get back to normal.

That is happening cause people are starting to panic buying means, lot of people now are pulling out their investment and spend it for their own safety as you can see, crytocurrency is not alone, stock market is literally crashing right now and a lot of other markets too are suffering. This is a world crisis and many country will suffer from economic lost because of this. If this pandemic is going to stay for a long period of time lot of people are going to suffer not just with virus but in poverty too.

When it was early march I remember going on the stock exchange to see how it had effected compared to crypto. The stock exchange looked like a crypto exchange the stocks were dropping so fast. It surprised and concerned me and I freaked out. Nothing is certain about these troubled times but I am glad to see bitcoin stabilized sort of. It is not at $10k but remembers it was jumping between 6 and 10k before the virus.
It would be nice if a relief fund was started by crypto for the virus. Instead of just these scams.

[AmoreJaz]

I have seen a lot of people trying to associate bitcoin with all sort of things. Sometimes I say they might just be coincidence and not really something to be taken serious. Something as serious as a pandemic is not something to joke around, and I know for sure that it must have affected the price of bitcoin in some ways.

There are also lots of things that has been mentioned, and those includes bitcoin miners, the Plus Token scammers, and some others. These are the things that are believed to have made the impact that led to the recent fall. Two that I am not going to doubt is this covid-19 and Plus Token scammers.

the virus unquestionably is making impact in crypto market!
a lot of crypto users are cashing out to support their needs in this pandemic. hopefully, our situation will get better once they release the vaccine to the public.
but we are still counting months from that to happen. for now, we need to endure what is in store for all of us!

[MCobian]

I'm sure bitcoin dump is not because of covid-19, but many investors are panicking because whales use covid-19 moments to manipulate
price. And proven successful at first, but now many investors are starting to realize that falling prices for bitcoin are just manipulations
by whales made to get cheap prices. Now the market is slowly improving, with bitcoin already touching $ 6900. Hopefully in the near future
bitcoin can return to the price of $ 10,000.

[Ridwan Fauzi]

During pandemics or Corona virus bitcoin and altcoin price never wake up and exactly always down, maybe many people and investor tired with their investing still lower price and keep focus how to attack from corona virus than thinking with their investment in bitcoin and altcoin.

Where do you read that news?

I hope you just erroneous, let we remember, bitcoin price was increasing before the coronavirus is spreading to almost all countries and its price touched $10.000 accidentally we have a good event at this year namely halving event for bitcoin so we can wee most of the crypto currency prices were increased in the early at this year.

But the coronavirus was spreading and make all the forms of the economic instruments were decreased (like oil price, stock market and etc) and that gives a bad thing as well for bitcoin price and altcoin price. Bitcoin price was fallen to $4000 if I'm not mistaken when it just took a few times before its price was increasing drastically at that time and was traded in the range of $6000. Until now its price is stable and never fell to below $5000 even at this time its price is trying to reach $7000 maybe it just needs several days ahead.

[rodskee]

During pandemic bitcoin always drop and look like don't strong how to back with higher price, maybe pandemic of corona virus have make bitcoin and altcoin gone or bitcoin moment have over, how ever we need time after pandemic end then give chance for bitcoin back to higher price always.

lol Bitcoin have not drop this bad from the past pandemics it is just Corona that made this market seems miserable because of the very High value decreases .
and yeah even Halving have nothing to do with growth because this issue makes the whole world fall so investors facing their own life now before Crptocurrency.