Cryptocurrency price is coming back.

[coingecko]

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

It is really surprising to see how Bitcoin dipped together with the shock of the traditional financial market. Only to see it at above $6000 just days after...

[ballerin and giroud]

I don't know that this thing is happen in other country or not because in my country coronavirus has give a bad impact for the price of money fiat. Our money fiat has declined against US dollar, which I think there will be many people in my country try to invest their money into bitcoin. So as we can see yesterday bitcoin had been increasing again until now. And also I'm thinking that the trend of bitcoin market is not changed, we are still in the bull market. Because I can't imagine if bull market has been changing to bear market maybe bitcoin pricr could touch $3500 again as its all time low price.

[Janation]

It is really surprising to see how Bitcoin dipped together with the shock of the traditional financial market. Only to see it at above $6000 just days after...

That is so true.

I thought that it is because of what is happening right now but it turns out it is not really the pandemic but it just played a role to affect the price. I am not surprised by the price change in time since we all know the capabilities of it even in the past. The halving is closing and with the recovering price, I think we might get back at $10K.

[tippytoes]

It is really surprising to see how Bitcoin dipped together with the shock of the traditional financial market. Only to see it at above $6000 just days after...

That is so true.

I thought that it is because of what is happening right now but it turns out it is not really the pandemic but it just played a role to affect the price. I am not surprised by the price change in time since we all know the capabilities of it even in the past. The halving is closing and with the recovering price, I think we might get back at $10K.

But let's admit it, the pandemic has major impact on this. Because of so many economies in the brink of collapse, a lot of people are selling their crypto portfolio. But whales are taking advantage of the situation as they can afford to accumulate more even in this crisis. Because they do believe that bitcoin will rise again very soon or the next few years.

[Reid]

There is still no accurate prediction about it.
Anything could go wrong and we still have to be ready with that.

The pandemic is not over although China is already cured some of their patients.
The question of when it will be cured in just a single medicine is there.
It took them time and it will also take time for other countries since the number of Covid-19 related patients is increasing.
It may take a couple more months for other countries.
So we cannot specify if this will really be the bottom or are we experiencing the sell point of people up until now and the bitcoin price is just resisting because of the holders that are staying.

[pawanjain]

I was quite overwhelmed too when I saw BTC price was at $6200 despite the crash of market.
While most say that it was due to the Covid-19 outbreak some say that it is the PlusToken/MtGox scammers who are selling the bitcoins and hence the dump.
It does raise a question that if the reason was actually the Covid-19 outbreak then the market should not have been recovered so soon because the situation is just getting worse day by day as the death poll is increasing. So the prices should have been dumped more.
May be the lateral reason would be right since it kind of makes sense since the scammers would have sold their coins and now the market has started to recover. In my opinion this will only be proven right if the market continues to grow over the next few weeks.

[Janation]

It is really surprising to see how Bitcoin dipped together with the shock of the traditional financial market. Only to see it at above $6000 just days after...

That is so true.

I thought that it is because of what is happening right now but it turns out it is not really the pandemic but it just played a role to affect the price. I am not surprised by the price change in time since we all know the capabilities of it even in the past. The halving is closing and with the recovering price, I think we might get back at $10K.

But let's admit it, the pandemic has major impact on this. Because of so many economies in the brink of collapse, a lot of people are selling their crypto portfolio. But whales are taking advantage of the situation as they can afford to accumulate more even in this crisis. Because they do believe that bitcoin will rise again very soon or the next few years.

We can't really say that it is because of the pandemic.

I did a google search last week when the dump happened and it is said that it is because of the moving of Bitcoin of these PlusToken scammers. You can read the article here. They are moving the Bitcoins to mixers that is why the dump is happening. We can say that some investors did some panic selling but I think the most reason why that dump happened is because of these scammers.

[LogitechMouse]

There is a famous quote and that is "What goes up goes down." and its opposite is applied here too . "What goes down goes up too."

I was quite surprised when Bitcoin fell down from near $8000 to near $4500 in just one day. It is almost 50% drop down and days after, it went back to rise up again and trying to reach the $7k resistance. Now it is moving sideways at around $6000-$7000.

Even though we saw Bitcoin's price rise back again, there is no sign of reversal yet until now. As long as the virus is still there, the sentiment of the market is always negative. It will start to rise up again if either there is a good fundamentals already or the whales have decided to buy Bitcoin again.

[Yamifoud]

That was supposedly we think of all the time because not all the time it can only be at high nor it all be at lows. Think about the dumps and pumps are seems to be normal and that is why we don't need to be panic when we saw a red color in the market, yet it turns into green once again.

Hope will always be hope, you can just be hopeless if the entire market vanishes or it collapsed but as it have a market demand and it is exchanged, it is certainly becoming to be in a normal scheme.

[Oasisman]

~snip~

~snip~.

But let's admit it, the pandemic has major impact on this. Because of so many economies in the brink of collapse, a lot of people are selling their crypto portfolio. But whales are taking advantage of the situation as they can afford to accumulate more even in this crisis. Because they do believe that bitcoin will rise again very soon or the next few years.

We can't really say that it is because of the pandemic.

I did a google search last week when the dump happened and it is said that it is because of the moving of Bitcoin of these PlusToken scammers. You can read the article here. They are moving the Bitcoins to mixers that is why the dump is happening. We can say that some investors did some panic selling but I think the most reason why that dump happened is because of these scammers.

That is true. The major cause for that dump is the plustoken scam that was being dump and was sent to the mixers. The pandemic is just an add up to the price slump affected by the fall of the global market.
The effect of the pandemic is just slight yet it gradually became worse after the dump, because the people were confused on whether they panic buying for their needs to survive the lockdown or panic selling because Bitcoin is dropping so fast.

[Ailurophile]

It seems like those panic seller finally reinvested their extra money to crypto once again.
It is great that the crypto market is having a price bounce at least we are having a good news despite all the negative things going on.

[Kelvinid]

Indeed, the market shows a few pumps but somehow it drops again after a few days. People aren't really confident for sure of what they saw and it is pretty obvious that many were still in the panic selling up to this time. And to the fact that still, people are selling at low prices, there is no way that we can see the market moves high even a month or two and the halving event couldn't make a huge help anymore if the situation remains like this.

[bakasabo]

Indeed, the market shows a few pumps but somehow it drops again after a few days.

The correct word is "few pumps", not recovery or "coming back". The price was was so huge during March, so it is to late to speak about recovery. As soon as world economy starts to recover, so will crypto as well. So far there are just pump, maybe even to earn more on people who thinks that this is a full come back.

[Spaffin]

I am glad that users of the forum express the same opinion, which confirms my early statements that everything that happened on the cryptocurrency market until recently was the result of manipulations by speculators, and not panic due to coronavirus.  The fact is that large players in the cryptocurrency market are working for profit and therefore have specially lowered the prices for cryptocurrency, because the economic crisis is starting to develop in the world, which is also caused by quarantine and the coronavirus pandemic.  As you know, many businessmen in the crisis are looking for alternative sources for investment or preservation of their assets, and just the cryptocurrency market is a very good opportunity to implement their plans.  Based on this, I believe that everything that happens in the world and on the cryptocurrency market has a huge connection.

[mahilchii]

So far I can't see any big change in the price movements, and yes there are lot of speculations going in BTCs pump. But still we cannot guarantee the accurate price.

Anything is possible in crypto either pump or dump we need to be ready, well if things go on a positive way it would be really happy to see the price of BTC because it's the one which decides the market movement so just relax and enjoy...

[TheAndy500]

So far I can't see any big change in the price movements, and yes there are lot of speculations going in BTCs pump. But still we cannot guarantee the accurate price.

Anything is possible in crypto either pump or dump we need to be ready, well if things go on a positive way it would be really happy to see the price of BTC because it's the one which decides the market movement so just relax and enjoy...

I don't think anyone is thinking of doing pump & dump when the virus is spreading all over the world. In my opinion, Bitcoin is more likely to be sold for fiat money, which means further price drops. In my opinion, the decreases will last until the virus is completely controlled. Only then can we count on the return of price increases.

[okala]

Now that the case of covid 19 is heating hard on the world economy I think bitcoin is going to be the safe haven. I also believe that bitcoin is been studied by most of the powerful investors around the world as they cannot continue keeping their funds in stock or commodities market. The effect of this recession on bitcoin is going to be revealed after the halving.

[hirngespenst]

It's good to see that Bitcoin price didn't stay at dump zone for a long time, within weeks Bitcoin price came back to 6700$ from 3800$! So, right now the crypto market is in average condition. We can see another dump as you see coronavirus is not stopping! But right now, it's growing and that is a very good opportunity to recover your losses!

[hirngespenst]

Now that the case of covid 19 is heating hard on the world economy I think bitcoin is going to be the safe haven. I also believe that bitcoin is been studied by most of the powerful investors around the world as they cannot continue keeping their funds in stock or commodities market. The effect of this recession on bitcoin is going to be revealed after the halving.

You have a very good point, mate! I believe it too that big investors are studying about the crypto market! Stocks market, banks are not safe enough in this lockdown time when the Bitcoin trading is a true blessing! So, after the halving, when bitcoin price may be higher than now, more people will realize how opportunity crypto is providing!

[Polar91]

Now that the case of covid 19 is heating hard on the world economy I think bitcoin is going to be the safe haven. I also believe that bitcoin is been studied by most of the powerful investors around the world as they cannot continue keeping their funds in stock or commodities market. The effect of this recession on bitcoin is going to be revealed after the halving.

Such investors including billionaires have already  considered investing with Bitcoin but they keep silent about that as they probably don't need to tell or they are keeping it for their own privacy. We don't need to support Bitcoin's usability as it has been used by investors including former and current stock investors. Sooner, people will surely feel safer in crypto than letting the banks handle their money or assets.