Coronavirus/Covid 19 Impact on World Economy Hit Bitcoin

[ashmodeus]

It's already impacted many many side on real life, many many place for hangout has been closed by government on my country,and of course that also impacted economy side.
Well,about impact for crypto world, as u see lately, everything drop to the deep,but well recovery seems happened quickly.

[Shasha80]

The whole world is now affected by the corona virus, so it's no surprise that an economic crisis occurs and bitcoin is affected. But if we
look at the cryptocurrency market today. Bitcoin has begun to recover, with prices returning to $ 6300. Therefore from with economic
crisis conditions in which some countries do lockdowns so that activities can only be done at the home each makes bitcoin becomes a
solution to get income. So in the near future bitcoin prices could rise dramatically.

[hahay]

The best advice is to continue to fight to eradicate the corona pandemic, we cannot improve the world economy if this pandemic continues to increase and they cannot just remain silent because after all, they must continue to try to find ways to make vaccines, drugs or anything that can eradicate coronavirus with fast because if not, at least this economy will be destroyed and of course it will have an impact on other assets and markets including bitcoin.

[bisdak40]

In a crisis like this. We should be ready and prepared whatever the outcome would be.

There will be now a great consideration for the usage of bitcoin because of the possible transmission of the virus through fiat money. They will see how bitcoin is applicable in situations like this. The economy has been hit hard but bitcoin is recovering.

You've got a point here man, fiat money might also be infected with this virus so people might minimize holding such and transactions online might surge if cure will be delayed.

Almost all of the economy is affected not just Bitcoin. We have seen BTC price going down at the start of the crisis and also seen it's price going up as investors see the potential use of it while there is an onslaught of this disease. It's just a matter of individual perceptions on what he would do with his cryptos in times like this.

[plast555]

What are the suggestions on the world economy, if Covid 19 will continue to spread in other parts of the world as its impact also hit Bitcoin and Crypto In General, Your welcome?

Can we tell them to invest or hedge their wealth to bitcoin? But no, I don't think that countries around the world with do that, suggestions? each nation has been doing it right now, stimulus packages, lower taxes, but still we haven't have any idea of the extend of the damage Covid-19 has done to the world economy.

@Janation - yes 2018 was much worst, however, there's no pandemic that time. It was more of a bubble being burst than anything else.

Crypto seems to be decoupling from the traditional markets during the initial 2008 crisis gold corrected initially and then surged after that so similar things can also happen just my view as the economy is heading into the recession which seems to be quite certain at this point in time.

For crypto even if it is not going up I don't think it will go down below $5000 and sustain there as the weekly average support is strong around that level and it has not had a sustained break since the inception of Bitcoin if that happens probably we gonna see much lower levels

[imstillthebest]

the infection are so far stopped on some country but still continue to others but i strongly believe that other countries will also recover too  . the popular suggestions right now are taking care of your self and proper hygien is required like washing hands , wearing mask when going outside and many more  .

they dont care what happen to bitcoin but only people that are already involved on bitcoin are the one that care the most  . what can we do ? just do your thing  , sell if you need but hodl if you like too  .

[criza]

The economy will survive the pandemic but, we won't know for how long. A lot of businesses and company are struggling because of what is happening around the globe, it affected vast number of establishments that rely on the demand from the consumers. Thus, for me, only time will tell if the economy around the globe would survive amidst the pandemic spreading across borders.

[Meowth05]

I don't think that it will affect bitcoin that much because these are digital currency we are talking about, the market will surely be affected but I hope that it will not cause a chain reaction that can cause an effect in cryptocurency industry.

[awik p]

I don't think that it will affect bitcoin that much because these are digital currency we are talking about, the market will surely be affected but I hope that it will not cause a chain reaction that can cause an effect in cryptocurency industry.

but as we know many people who prefer to hoard USD, we can see the effect on fiat currencies of other countries, even gold that had succeeded, became worse due to the many requests for USD. I think that although it doesn't have much effect on bitcoin, the corona effect certainly has an effect on the development of crypto

[senin]

What are the suggestions on the world economy, if Covid 19 will continue to spread in other parts of the world as its impact also hit Bitcoin and Crypto In General, Your welcome?

States are now urging people not to go out and work remotely if possible. In many states, everything related to no life support is closed. Only grocery stores, pharmacies and gas stations work. This means that the economy has stopped, and this will inevitably entail sharply negative consequences. Apparently, we cannot avoid the global economic crisis in the near future and, as many warn, it will be more serious than the 2008 crisis.

[Dr.Osh]

I don't think that it will affect bitcoin that much because these are digital currency we are talking about, the market will surely be affected but I hope that it will not cause a chain reaction that can cause an effect in cryptocurency industry.

I expect the same thing. only so far, there has not been a significant increase in the price of bitcoin and ethereum. Well, I expect a price increase in the near future, because halving might help for that in the midst of this crisis. however, until now the influence of the virus still continues. we will not know to what extent this will have an effect.

[onrise]

I don't think that it will affect bitcoin that much because these are digital currency we are talking about, the market will surely be affected but I hope that it will not cause a chain reaction that can cause an effect in cryptocurency industry.

Everything would be affected due to the global market crisis because people would have lost huge money in their stock market or their business would have slowed down. Now many would be requiring money and also panic mode is on in people so it could even effect the bitcoin and we have seen how it has fallen from 9k to 4k due to the panic time that COVID 19 has started effecting people across the world.

[boyptc]

In a crisis like this. We should be ready and prepared whatever the outcome would be.

There will be now a great consideration for the usage of bitcoin because of the possible transmission of the virus through fiat money. They will see how bitcoin is applicable in situations like this. The economy has been hit hard but bitcoin is recovering.

You've got a point here man, fiat money might also be infected with this virus so people might minimize holding such and transactions online might surge if cure will be delayed.

Almost all of the economy is affected not just Bitcoin. We have seen BTC price going down at the start of the crisis and also seen it's price going up as investors see the potential use of it while there is an onslaught of this disease. It's just a matter of individual perceptions on what he would do with his cryptos in times like this.

In China, they don't have problem about getting infected due to the transfer with fiat money because they have Alipay and Wepay. Most transactions there are already digitalized with those payment methods but still some pay plain cash but the infection with that carrier is very low.

All investments are affected and I don't think there will one that can flee this virus' effect.

[YOSHIE]

What are the suggestions on the world economy, if Covid 19 will continue to spread in other parts of the world as its impact also hit Bitcoin and Crypto In General, Your welcome?

the world economy is currently experiencing a big problem, which has an impact on Covid 19, uncontrolled world is currently crying with the tragedy that is happening.

This also has an impact on the world's crypto including Bitcoin, because what is happening right now has an impact on the deaths that have been experienced by human beings in the world.
Logically, if the Covid 19 virus continues to spread to the wider community the economy will automatically be weak, the reasons for offices, private companies and government to close with billions of losses per day are not counted, people can not work and can not leave the house, automatically imports / exports are stuck people do not have income anymore.
The extraordinary impact of the Covid 19 virus on the world economy.

[White Christmas]

What are the suggestions on the world economy, if Covid 19 will continue to spread in other parts of the world as its impact also hit Bitcoin and Crypto In General, Your welcome?

We clearly see the negative impact of the coronavirus it the covid19 to the situation of the market right now as well as the situation of the cryptocurrency. I think the suggestions of the world economy was just wait until the pandemic coronavirus will end and I think that it is the best way to do right now so that we will be able to lessen the burden that our country was experiencing right now. Am I right?

[FanEagle]

What are the suggestions on the world economy, if Covid 19 will continue to spread in other parts of the world as its impact also hit Bitcoin and Crypto In General, Your welcome?

Well, governments takes taxes and they do spend it on other stuff normally when there is nothing like this going on.

Think about it, there are money going to military, going to infrastructures, roads and basically many many things that are not "vital" in a situation like that, if you consider all of them they will take so much money of the governments treasury that they are actually not useful during a time like this, I understand why a government would want to invest into military and that makes sense but for now they can give a break to it and give them less money.

In return of this those taxes could be used for healthcare for now, they could actually afford to build hospitals with it, buy products, masks, sanitizers, pay factories to build them with as minimum people working as possible. Basically, using the taxes for ALL things they spend and just drop it %10 and move it to helping people out and keeping economy alive, that is the only way.

[ArIMy11]

What are the suggestions on the world economy, if Covid 19 will continue to spread in other parts of the world as its impact also hit Bitcoin and Crypto In General, Your welcome?

At first I am thinking about of encouraging people to use online payment because fiat can be one of so many ways to transmit virus. But on the other side, I think that it is quite impossible since government is too busy in other things. So I ended up to "just follow what the government has ordered". They will not command us to do such things if they think it is not for the good of all of us. In that case, we the community can stop spreading of the virus until they find what can be the cure to this virus in a shorter period of time. When everything is OK, their will be normal operation again and the so the rise of the economy.

[KrisAlex18]

This virus totally affected our world economy because there are so many businesses that are being affected which results to falling, there are so many lives that are being affected, many workers are now temporarily unemployed, even cryptocurrency is decentralized it is also included as being affected by the virus because it reaches for the lowest price of 3,900$, luckily it is now around 6,000$ even though virus is still in our area. I am still hoping that this virus will gone soon because it is really destroying, many players and traders are being afraid so they take their investments and convert it on their fiat currency so they have money to use while crisis is still in our area.