Cryptocurrency price is coming back.

[Asuspawer09]

From the previous weeks until today we have a huge problem and this is the outbreak that is the Coronavirus or the NCov19 this pandemic plague are worldwide spreading and this is the one by the market price of the fiat and the cryptocurrency fall down. Now we are focusing to the cryptocurrency when the virus started the market price of the bitcoin in just 24 hours are immediately fall down and this is not good news to the people who made a lot of investment when the market is too high and the thing they must need to do is holding their coins and it takes again a lot of days or months to bring back the market price of the bitcoin to be good. But here is the good news from the previous weeks of a downtrend the market price of the cryptocurrency again becomes profitable because from the 24 hours of being stable of the market price the bitcoin and the altcoin price immediately increase for over $24 Billion rapidly and this is a good sign that the market price of the coin becomes profitable again.

From the price of the coin from $5000 from the previous weeks the market price of the coin rapidly increase and now it is already $6.2 and this is a huge change within this hours only the same with the altcoins they are rapidly increasing and this is a good sign of having a good market again, after the fighting to the spreading of the virus and it becomes fine again.

Reference:https://www.cnbc.com/2020/03/20/bitcoin-btc-cryptocurrency-prices-rise-as-stocks-remain-volatile.html

Right now the market price of bitcoin is having resistance at the market price of 6000$ Also I don't really think that the price is passing the barrier lower at 2000$.

In my opinion nothing change in after the dump of bitcoin, bitcoin is still bitcoin the demand is always their so I'm confident that the price of bitcoin is not going to reach lower than 2000$ or even zero in the market. After a few months surely the market price of bitcoin could easily recover, In addition we also have the bitcoin halving that could potentially make or pump bitcoin to surpass it current All-time high price in the market.

Nothing seems bad about this volatility of bitcoin is always a thing in bitcoin and that's what makes bitcoin a great profit of an investment, that what bitcoin is.

[Jating]

I guess we will see now if the market is really holding strong, we are at $6000, a good price to hold due to the recovery, and seems there is no panic anymore. No pump and dump as of now, but let's just observe what would happen next, the global pandemic is still something we can consider as a big threat on what bitcoin will dump again, but maybe the $2000 dump is already big enough and there's no dump incoming, I just hope so.

That's the only thing that we can do right now, the pandemic virus needs to be considered while the market still trying to cope up and work to stand within this ground. Difficult for everyone but if you do have enough money to spare keep everything on hold and wait for some time the market will recover.

Or on the contrary, BTFD?

Right now the price is just above $6k, so there's a lot of price swing in the last 24 hours, meaning those who have bought the price around $4900 or less could have been selling at the height of the $6500-$6700 peak.

@sheenshane - personally, don't like to see those whale_alert on twitter, it seems that it could be used as a tool by whales to somewhat push their narratives, just saying.

[Sadlife]

I wouldn't say that "the price is coming back" to early because it's still down $3000 when it was $9000 back then before the flash crash occurred. For all we know, this might be a dead cat bounce, because of its oversold state and nothing really goes down forever. Of course due to the huge flash crash, the pump are also extreme. Bitcoin probably needs a green weekly close before we can be certain that the bull trend is back.

[Sanitough]

We need real pump to break bear market

Don't expect a real pump at this situation, maybe when the global pandemic is over, that's the time we can expect, but as of now, there is no clear solution to this problem as there is no vaccine that was out yet to fight this virus, so we are left with uncertainly now, any pump could be just a manipulation that we should not be too confident.

[PIMPdev]

naive it won't come back next two weeks 

[Janation]

From the price of the coin from $5000 from the previous weeks the market price of the coin rapidly increase and now it is already $6.2 and this is a huge change within this hours only the same with the altcoins they are rapidly increasing and this is a good sign of having a good market again, after the fighting to the spreading of the virus and it becomes fine again.

That is the reason why we should be patient.

A lot of people are already disappointed at those changes not knowing that a lot of people would take advantage of that price fall. Now we are seeing a good price stabling at $6.1K. Now we just wait what might happen, yesterday it reached $6.5K so there is a chance or a possibility that it will go higher than that, who knows, it might be $7K tomorrow.

[Quidat]

Not a new thing and for those who panic sell into those times would surely regret into those decisions they had made.This had always been the movement of crypto market
where it dumps and the recover and repeat the whole process.We cant just see to have a declining market that would last forever or would go to the floor.There might be some
events that do heavily affecting the market but doesnt mean that it would be a reason for it to go to the floor or being dumped forever.Lucky for those people who do bought on the dip
and yet making profits on a short period of time or days are the reward on taking risk on accumulating to those times where people are fearful or on panic.

[enhu]

Panic stops and those who sold realize they lost BTC after buying back  

We'll just have to see when a bad news is going to affect the price again, it doesn't stop since 2018. All of those news are still attacking crypto markets even when some news from countries already legalize cryptocurrency.  If whales are really manipulating for their accumulation, they will keep doing these until they can't get few satoshis anymore then a slight pump again.

[Gladiator25]

After crash more than 40% cryptocurrency is coming back to higher price although not recovery how bitcoin and altcoin price before, but I trust with bitcoin and altcoin could back to higher price again because few months later will going on with bitcoin halving time and giving impact to make price pump.

I also trust the bitcoin and altcoins because there are many problems and challenges that this cryptocurrency faces in past years and yet they overcome and still have a good price on the market. Except for now since, there is a virus that occured andreally affects the market. I think after that virus, bitcoin and other coins will be back to the game.

[20kevin20]

~
The only positive news is that China is slowly recovering, but their economy will also need a few months to return to its former state, which will again depend on other markets, because if there is no demand, production only creates supplies that by themselves mean nothing if stored in warehouses.

Do you really believe that China is undergoing a recovery and everything is fine over there right now? Because I don't. The fact that they hid numbers makes me very skeptic about just anything they say. It's probably just pretending that everything is fine.

The world will need years if not decades to return to what it was only 3 months ago. As gentlemand said about a dozen replies above, this is just the beginning. Probably the complete meltdown of the markets is next, followed by the obvious scarcity of food and supplies. The economy being completely frozen in many large and significant (when it comes to food production) countries will make things work very differently now. Everything's changed.

[XCANA]

We also experience that over here and we're happy to be witnessing such bounce back from what others thought it won't. The current bounce back was heavily suppressed by the power of sell which we'll know as profit taking mode by traders. Hopefully the cryptocurrency market will definitely bounce back like the old days and investors will get their shares from the rise. We're hoping to see bailout funds be release into the stock market and equally into the cryptocurrency market. 

[DevilSlayer]

We also experience that over here and we're happy to be witnessing such bounce back from what others thought it won't. The current bounce back was heavily suppressed by the power of sell which we'll know as profit taking mode by traders. Hopefully the cryptocurrency market will definitely bounce back like the old days and investors will get their shares from the rise. We're hoping to see bailout funds be release into the stock market and equally into the cryptocurrency market. 

Hopefully that the bounce that happened, will continue more. If you are going to use the inverse fib retracement, you will see that the price breakout frmo 38.2 fibo which means that the buyers overcome the sellers because 38.2 inverse fib is a strong resistance. As long as the price will consolidate and have a breakout then it means that the bitcoin is in healthy market again.

[Sanugarid]

I wouldn't say that "the price is coming back" to early because it's still down $3000 when it was $9000 back then before the flash crash occurred. For all we know, this might be a dead cat bounce, because of its oversold state and nothing really goes down forever. Of course due to the huge flash crash, the pump are also extreme. Bitcoin probably needs a green weekly close before we can be certain that the bull trend is back.

Yeah, it's not coming back as if we have lost it. Come on guys, fluctuation is pretty normal on volatile and speculated asset, you can't just buy it and have a time table to sell it, Bitcoin wasn't created for that. I've seen the price is increasing yesterday and the last I checked it which is now, it's decreasing again in what reason? we don't know. But I'm glad the price is getting pump again, corona virus is hitting everything hard.

[so98nn]

People are done with panic buying toilet papers and alcohols I guess? Or that they don't have bitcoins to sell anymore.

~
Probably retail as just buying in this dip and then selling it just to get decent profit, specially day traders.

I wouldn't be surprise if I see some comments about "whale manipulations" later.

Lolz.

Its truly "standard" comment and wont go off ever in the crypto trading market. They always come up with manipulation strategy stuff to support the on-going dip drama.

However, one should always look for the realistic reasons, for ex. in current scenario it's economic shut due to isolated market / completely shut down of international trades.

Even fiat is behaving half-heartedly which is but obvious these days. Just imagine Gold itself; you will find all the answers from real world as to why Bitcoin and other crypto's are wave surfing so much.

[kentrolla]

Yes, 2020 has been a tremendous year for the crypto currency market, after going through some tough days in recent times now there is a descent pump after few days in CMC chart. BTC saw some fireworks as the price exploded more than 20% in a single day, it remains decisively higher than it was three days ago. BTCs recent price action is forming the exact same pattern the strength of its recent uptrend is unclear, and I believe there will be some pump before halving...

[Lucius]

Do you really believe that China is undergoing a recovery and everything is fine over there right now? Because I don't. The fact that they hid numbers makes me very skeptic about just anything they say. It's probably just pretending that everything is fine.

By all that can be seen and read, China has managed to curb the epidemic (it has not been newly infected in the past 48 hours), and they are back in business - factories started working again, children went to school, life slowly returned to normal. I don't think they have a reason to hide something, the people on the streets and the kids at school are proof enough that the situation has changed.

But all this has been achieved by unthinkable measures for the Western world, because when it comes to the Communist Party, they do not ask citizens for their opinion, the measures are implemented rigorously and without hesitation. This is the reason that they were able to defeat COVID-19 (for now) and the rest of the world did not react in time.

Because of all this, China will recover much faster than other countries - just remember the 2008 recession - while the global economy was on its knees, China was buying everything that was worth and what could be bought.

New economic data released on Monday showed the Chinese economy was hit severely by the coronavirus outbreak, with retail sales plunging 20.5% compared to a year earlier, according to the National Bureau of Statistics.
At the same time, industrial output also fell 13.5% during the same period, while fixed asset investment plunged 24.5%.

[20kevin20]

~

This is the official livestream of the "Hospital Construction" in Wuhan. I kept it bookmarked until today and I always keep an eye on it.

Wuhan looks like a ghost city. I don't see much of a movement in there anytime I look. Bookmark it and check the other livestreams from Wuhan (they're on the same webpage), you'll find out traffic in there is now like one of a 10k population city. It was the same a week ago, so was it 2 or 3 weeks ago. No change, I see no "recovery".

I always take the mainstream media news with a pinch of salt and do some research to make sure what I'm reading is legit and right. China has been known for hiding numbers and not only in this pandemic. They're trying to keep a good image of their country in front of the world so they could be praised.

I wish they had solved the pandemic there but it just doesn't look like it. If life slowly returned to normal, they would've had at least one more new confirmed case consider Wuhan has a population of +11M. I'm not a doctor or an expert but things just don't add up in my brain and I believe I'm not the only crazy one to notice it.

[fiulpro]

What we might be seeing would be a moment of positive change but I don't think it gaurentes the price to return to high terms since , right now the economic situation is not god and people are having problems in every sector therefore don't bet on it what you can do is for the momentary moment is enjoy and pray that it doesn't get worse and for the situation to improve.
Price will go up and down but for whatever reason that might be if the whole crisis gets over price will stabilize .

[AakZaki]

~snip] so we are left with uncertainly now, any pump could be just a manipulation that we should not be too confident.

I always believe in the decisions I make, such as steps to buy Bitcoin under $ 5000 as happened a few days ago.
If it repeats itself, of course I will buy it, because I am sure whatever is the impact of the fall in the price of Bitcoin, one day it will definitely pass.
Including the current corona virus disaster worldwide.
Because I not only see from the sector alone, but also use technical analysis.

[ultrloa]

~snip] so we are left with uncertainly now, any pump could be just a manipulation that we should not be too confident.

I always believe in the decisions I make, such as steps to buy Bitcoin under $ 5000 as happened a few days ago.
If it repeats itself, of course I will buy it, because I am sure whatever is the impact of the fall in the price of Bitcoin, one day it will definitely pass.
Including the current corona virus disaster worldwide.
Because I not only see from the sector alone, but also use technical analysis.

For the news that the china is been well right now maybe there are some big whales coming back with bitcoins and others who doubt gain some trust to get a good track again with this events but let still monitor the situation since the disease still on the track globally and I really hope this will finish so we can get back to normal.