Bitcoin during pandemics

[virasog]

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.

Bitcoin did dump to 3800$ in this pandemics situation but it quickly bounced back. I still think that bitcoin is more stable than stocks or forex market. These markets recover very slowly while bitcoin always recover fast.

[yazher]

If Bitcoin will survive this event, it would become one of its greatest accomplishments because it will be recorded event the worst pandemic that hits the world in the 20th century didn't wipe out bitcoin. This would become one of the reasons why we need to keep at least 1 Bitcoin in our wallet. even though the economy hits so hard this time, Bitcoin has not drastically decreased its price. it somehow holds at the $6000+ mark as of today.

[Itty Bitty]

Corona time is the perfect time for Lightning Network to shine!

Stuck in front of the internets for weeks or maybe even months, I want to read articles sometimes. N.Y Times, Washington Post, Vulture, etc...they all want subscriptions to read a #$%^&*(@#^& news item. Come on come on come on!

I'll pay you your 3 cents or 5 cents or 7 cents for your damned article, just let me pay with lighting wallet, you news servers and servers of news.

Corona time is the time for lightning to to shine uber-brightly!

[coolcoinz]

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.

Bitcoin did dump to 3800$ in this pandemics situation but it quickly bounced back. I still think that bitcoin is more stable than stocks or forex market. These markets recover very slowly while bitcoin always recover fast.

Bitcoin markets lack liquidity and this is the reason for sharp declines and recoveries. Just compare the numbers. A simple 1000 bitcoin dump can make the price lose 5%. a 100k bitcoin dump would completely crash the price and probably make us go below the 2019 bottom. Does that mean 100k bitcoins is a lot? No, it's less than 1% of the supply, but that 1% could make a 50% price swing with ease.
Market price is not a good representation of value.

[Janation]

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.

You can't really say that.

Besides the CoVid-19, HIV are the only pandemics that happened where Bitcoin is already in existence. At that time, I don't think it did affect the price of Bitcoin since it is not really affecting the price directly like how stocks are affected.

[ethereumhunter]

If Bitcoin will survive this event, it would become one of its greatest accomplishments because it will be recorded event the worst pandemic that hits the world in the 20th century didn't wipe out bitcoin. This would become one of the reasons why we need to keep at least 1 Bitcoin in our wallet. even though the economy hits so hard this time, Bitcoin has not drastically decreased its price. it somehow holds at the $6000+ mark as of today.

Of course, bitcoin will survive and will have time to increase. We knew that after bitcoin price reaches $3,000 level, bitcoin price starts to grow back step by step, and now, we see bitcoin price can stable for a while at $6,000. There is a chance for bitcoin price to break the higher price, and we will see that time will come. So you need to be patient, and you can use this time to buy more bitcoin while you can.

[Twentyonepaylots]

If Bitcoin will survive this event, it would become one of its greatest accomplishments because it will be recorded event the worst pandemic that hits the world in the 20th century didn't wipe out bitcoin. This would become one of the reasons why we need to keep at least 1 Bitcoin in our wallet. even though the economy hits so hard this time, Bitcoin has not drastically decreased its price. it somehow holds at the $6000+ mark as of today.

Of course, bitcoin will survive and will have time to increase. We knew that after bitcoin price reaches $3,000 level, bitcoin price starts to grow back step by step, and now, we see bitcoin price can stable for a while at $6,000. There is a chance for bitcoin price to break the higher price, and we will see that time will come. So you need to be patient, and you can use this time to buy more bitcoin while you can.

There's no way a pandemic could just easily break the reputation of bitcoin when it comes to storing a value, in fact if people knows about it we could have had another rally last month but sadly it's not. I've read an analysis yesterday on one of my joined group in twitter, and based on his analysis from previous charts ( I barely remember what year that was) that the price of bitcoin might really reach the deepest possible range which is at $3K if the situation continues a bit more long.  From now on, the bitcoin price is as good as it was last year, exact month from April to June, just add your fuel to skyrocket.

[Vishnu.Reang]

The next few weeks are going to be crucial for Bitcoin. Because the COVID 19 outbreak has moved past countries such as Spain and Italy and now it is the United States which is reporting the maximum number of cases and moralities. And this is bad news for us. If there is a huge impact on the United States, then the global economy may get destroyed. And it can definitely have a huge impact on the exchange rates of Bitcoin.

[panganib999]

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.

This thing quite invalidate the relationship of the occurence of pandemics and the market behavior during those times. There are more pandemics occured on the previous years before and after Bitcoin was introduced to the world, Zika and Mers to name a few, which are not listed.
But the bottomline is that, it is not the kind of virus which affects the price of Bitcoin but to how wide the effect is. And it is not cryptoindustry which is mainly or directly being affected but the global market. This makes sense to think that the problem just affects the global market which is being reflected to digital currencies for some reasons.

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.

You can't really say that.

Besides the CoVid-19, HIV are the only pandemics that happened where Bitcoin is already in existence. At that time, I don't think it did affect the price of Bitcoin since it is not really affecting the price directly like how stocks are affected.

Maybe that is because Bitcoin before is not having that much of a value. If something is not that high, we won't see it fall down. This might be the reason why it is obvious at this moment in Covid-19 because bitcoin on the previous years because 'something' in the eyes of the world perhaps.

[GrayFullbuster]

The next few weeks are going to be crucial for Bitcoin. Because the COVID 19 outbreak has moved past countries such as Spain and Italy and now it is the United States which is reporting the maximum number of cases and moralities. And this is bad news for us. If there is a huge impact on the United States, then the global economy may get destroyed. And it can definitely have a huge impact on the exchange rates of Bitcoin.

The numbers of the people who got infected is keep rising and it is really a big problem, the crisis is still out there and we are not sure if it have still a bad effect in the market. If this pandemic will stay more months, then maybe the cryptocurrency market will still go down and it is a sad part for me.

[Vishnu.Reang]

The next few weeks are going to be crucial for Bitcoin. Because the COVID 19 outbreak has moved past countries such as Spain and Italy and now it is the United States which is reporting the maximum number of cases and moralities. And this is bad news for us. If there is a huge impact on the United States, then the global economy may get destroyed. And it can definitely have a huge impact on the exchange rates of Bitcoin.

The numbers of the people who got infected is keep rising and it is really a big problem, the crisis is still out there and we are not sure if it have still a bad effect in the market. If this pandemic will stay more months, then maybe the cryptocurrency market will still go down and it is a sad part for me.

I was expecting a spike from the upcoming block reward halving and all that hope is gone now. A few months back when the exchange rates spiked to $13,000 per coin, I was hoping that Bitcoin will hot a new ATH by the time of the next halving. And look where are we now. It has been terribly disappointing for the cryptocurrency users. After a very good year in 2019, we are in for a horrible 2020.

[FlightyPouch]

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.

Pandemics though there are only 2 of them at the start of bitcoin, that is HIV and the CoVid - 19. You can't also say that it is the pandemic why the price if falling since it is not really the pandemic but the people that are panic selling and selling for their needs in this pandemic. I think these investors don't need to worry since they already know bitcoin will recover.

[South Park]

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!

Probably the greatest impact will come during the next months, bitcoin was moving in such a way that made me think that a bull run was imminent, the price was growing for weeks and we were close to the halving which could create a lot of hype among investors, but then the pandemic sent shock waves not only in this market but in all markets, now it is likely the halving will have no positive impact on the price and as the crisis continues and people need their money more people will begin to cash out and sell their coins making the price of bitcoin to go even lower.

[Yamifoud]

Seeing on what OP's chart, we can't deny how the market behaves during the crisis, it really dumps itself as people might be in panic selling but the good thing is that it peaks again after a month. Believing that this COVID-19 won't badly affect the crypto market nor the reason that people must have to be in panic selling as the outbreak continues. We have similar cases before and we even survive from it, so there is no reason why we have to give up as we can see that we started to move back at $7k and so on.

[Bitcoinislife09]

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)


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.

Bitcoin during pandemics like what we are experiencing right now is really essential. In bitcoin someone can gain and earn so much money. Through bitcoin you can make more money that you can use in your everyday needs during a situation like this. In this situation we need to be unified in helping the poor. Through gaining and earning so much money in bitcoin we can help the poor in their needs. We can also gain and earn so much money while helping other people in their vasic necessities.

[BlackFor3st]

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.

What I can say is that there is a relationship between the pandemic that we are currently facing right now to the bitcoin price because many are selling their bitcoin just to sustain their daily needs due to this pandemic. That is the relation that I saw, once there are more holders who sell their bitcoin then the price will surely to goes down especially if the buyers cannot accumulate all the sellers.

I even read a topic that someone sold his bitcoin because of the pandemic that they are currently facing right now, he is living in the US if I am not mistaken then he just said that he will just buy back the assets that he sold once the pandemic will be finished.

[teosanru]

I think we have too less of an data about how bitcoin could behave during pandemics. The first two times you mentioned weren't panemics MERS and Ebola both were epidemics as they didn't spread into more than one continents. Moreover these happened in the countries which were really not using Bitcoin at all at that time. For example Ebola took place in Africa in 2014-16 a time when Bitcoin was much restricted in first world countries. The first world countries were largely unaffected with this pandemic except a few industries. Same was the case with MERS. So I think it would be interesting to see how it behaves this time. All the markets around world have fell by around 30-40% while btc fell by around 70% but pretty much recovered by increasing back to 7k.

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)


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.

Bitcoin during pandemics like what we are experiencing right now is really essential. In bitcoin someone can gain and earn so much money. Through bitcoin you can make more money that you can use in your everyday needs during a situation like this. In this situation we need to be unified in helping the poor. Through gaining and earning so much money in bitcoin we can help the poor in their needs. We can also gain and earn so much money while helping other people in their vasic necessities.

Bitcoin earning is limited only to Bitcointalk users or cryptocurrencies traders. Rest of the people get their incomes in cryptocurrencies in return of services provided by them. These services too would be largely affected as businesses shut down. So you definitely can't say that COVID won't effect bitcoin. Moreover it's not a time of political unrest so it's not that people would love to forego fiat. So it's a bit complicated as to how Bitcoin can behave as COVID rolls out. 

[lixer]

In the case of that Ebola, I don’t think it’s up to the level of what Coronavirus is right now, unless maybe I wasn’t really updated then, but from what I saw then it was less severe than this Coronavirus outbreak that has taken place right now. This Coronavirus has really caused lots of stocks/assets to fall deeply, I was checking them on Google when this started and they all crashed to a really low level.

Bitcoin started to recover recently and some said it’s due to Trump pumping millions for stimulus. Bitcoin is not the only asset that has been recovering recently, there are other assets as well that are not cryptocurrencies. So I can’t really tell what it is.

[carlisle1]

There is no direct Impact in Crypto market but since the economy of the world is affected and having the lockdown happening in every part of the world.

this has an effect for users because people here now are trading their Crypto to Fiat as survival is much needed now than Investing.

how can people enjoy the when there are limited use of everything now.so in All we are affected of this infection and might stay a little bit in this lowering market until everything get settled.

[FanatMonet]

Bitcoin currently has a very large offer in the market due to the fact that people have to spend a lot of money to create food stocks and various medicines and medical expenses. A rather large demand is needed so that the market does not collapse again.