Coronavirus crypto

[nennanem]

Hey, I was wondering, how will the crypto market react to the virus?
In this regard, I found the article about it, https://cryptogeek.info/en/blog/coronavirus-reveals-cryptocurrencies-are-crisis-resistant, it says, that crypto is well resisted to the crisis, what do you think? Is that true?

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[Charles-Tim]

The virus affected crude oil, stock and cryptocurrency markets. We all know that. The owner of binance and some analyst said the fall In the price of cryptocurrencies  is not due to the virus outbreak the way we thought. But for me, the virus contributed.
Some people converted their money to stable cryptocurrencies  at such time of the crises. And this led to further trading of cryptocurrencies  for fiats and stable cryptocurrencies because of the cause. And this cause cryptocurrencies  to down trend in price. That is why.

[Yaunfitda]

I didn't click on the link, However, what do you mean that crypto is crisis resistant?

Have you seen the price of bitcoin going as low as $3800 during the panic selling about two weeks ago? So how can we leverage crypto or bitcoin itself against this pandemic? Everyone is affected, stocks, commodities even precious metals such as gold. So there is no such thing as resistant to this crisis, everyone is really affected including crypto.

[coupable]

Theoricly, it should be resistant to this kind of crisis where people seek to make daily paiement without body contact with paper money that maybe infected. But, based on real facts, the crypto market took its way to crash down like all the other fields in the global economy.
People are in extreme fear, most of them convert their crypto to buy foods and health materials. However, the price of bitcoin effects other crypto directly and this how we used to face this kind of crashes.

[davis196]

Hey, I was wondering, how will the crypto market react to the virus?
In this regard, I found the article about it, https://cryptogeek.info/en/blog/coronavirus-reveals-cryptocurrencies-are-crisis-resistant, it says, that crypto is well resisted to the crisis, what do you think? Is that true?

The market panic affected the cryptocurrency prices,but it still hasn't affected the blockchains.
The miners are still mining,even though there might be another price drop.There's still hope that the coronavirus pandemic will probably end in the summer,so I guess the miners are expecting a price recovery after the halving.The question "Is the blockchain strong and flexible enough to handle a huge global crisis?"
has to be a subject of a serious and complex discussion.What if the electricity production worldwide decreases because of the pandemic(more people in that industry get quarantined or diagnosed)?

[meanwords]

The virus affected crude oil, stock and cryptocurrency markets. We all know that. The owner of binance and some analyst said the fall In the price of cryptocurrencies  is not due to the virus outbreak the way we thought. But for me, the virus contributed.
Some people converted their money to stable cryptocurrencies  at such time of the crises. And this led to further trading of cryptocurrencies  for fiats and stable cryptocurrencies because of the cause. And this cause cryptocurrencies  to down trend in price. That is why.

Agreed. Even the way people debated whether coronavirus is the cause is also a proof that coronavirus itself have an impact in the cryptocurrency space. People can't work, can't go outside, can't make a living for themselves, can't make any risk which affects traders around the globe. People prefer having hard cash in times of crisis like this instead of risking it in a market especially to a volatile market that Bitcoin have.

In conclusion, I don't think cryptocurrency is crisis proof at this time.

[Jating]

Hey, I was wondering, how will the crypto market react to the virus?
In this regard, I found the article about it, https://cryptogeek.info/en/blog/coronavirus-reveals-cryptocurrencies-are-crisis-resistant, it says, that crypto is well resisted to the crisis, what do you think? Is that true?

Cryptocurrencies really take a big hit on March 8-9, but we have somewhat weathered the storm as compare to global markets. We have a good bounce around $6600-$6700 days after the bloodshed, but currently, $6000-$6100, so pretty much we stabilised around that price.

This is the first time we have seen a pandemic, so we would understand how the market will react, but then again, of all the markets around the globe, it seems that cryptocurrency remain very resilient to such crisis. We have be affected short term, but with the halving coming, we might see crypto recovering in the next months or so.

[CarnagexD]

Hey, I was wondering, how will the crypto market react to the virus?
In this regard, I found the article about it, https://cryptogeek.info/en/blog/coronavirus-reveals-cryptocurrencies-are-crisis-resistant, it says, that crypto is well resisted to the crisis, what do you think? Is that true?

Cryptocurrencies really take a big hit on March 8-9, but we have somewhat weathered the storm as compare to global markets. We have a good bounce around $6600-$6700 days after the bloodshed, but currently, $6000-$6100, so pretty much we stabilised around that price.

This is the first time we have seen a pandemic, so we would understand how the market will react, but then again, of all the markets around the globe, it seems that cryptocurrency remain very resilient to such crisis. We have be affected short term, but with the halving coming, we might see crypto recovering in the next months or so.

The virus really hits the market of cryptocurrency because there are a lot of people having panic selling because they saw the market price of the coin rapidly falling and by that from the market price of 9k dollars it fall for over 5k dollars immediately. We don't know very much if it is the virus or because of the halving because from the previous analysis and graph the market price of the bitcoin fall from last year into 3k dollars and also there is a chance it is because of the halving coming too. Still, the market price of the coins are stable and recovering from the event happens to the world market.

[mahilchii]

In my personal opinion anything can happen because this corona has damaged the entire globe especially the European countries are really worried, at this point of time you cannot expect anything good or bad at this situation..

Corona is already a high alert and governments are requesting people's not to come out of home I think the next two weeks will be the decider for the market.

[airtman]

Coronavirus has nothing to do with crypto, unless it kills people that owns or trade crypto, but for the price and, buying and selling with crypto they is no barrier, because you can travel all over the world with your wallet and can login to blockchain at any time, its unlike Gold that you cannot move all the Gold with you as you travel to a safer place.

[Artemis3]

I didn't click on the link, However, what do you mean that crypto is crisis resistant?

Have you seen the price of bitcoin going as low as $3800 during the panic selling about two weeks ago? So how can we leverage crypto or bitcoin itself against this pandemic? Everyone is affected, stocks, commodities even precious metals such as gold. So there is no such thing as resistant to this crisis, everyone is really affected including crypto.

It is not zero, is it? Therefore it resisted just fine. Currently its about 6k, this is not too bad considering the whole world economy went down...

Many people here use the world "stable", or "selling for fiat". Have you ever stop to consider what would happen if your fiat fails?

Coins like the USD or EUR are not backed on anything but the economies they represent. And yet, those very economies are down. How exactly do these coins keep their value?, and, is their capacity to retain it infinite?

Have you ever stopped to think where will your wealth go if the USD or EUR or such you went to fails? You might delude thinking "they" would never allow it, but is their power to stop it infinite? Yes maybe it won't be on this crisis, it could very well be the next one, but just stop to think about it.

Big problem is many here have never seen their own coin fail, and think they never will. But any fiat can fail, and anything "backed in fiat" will be dragged too.

Bitcoin fluctuations are temporary, we all know that. But in the long run, it keeps going up. Fiat is not the same thing, it depends in many factors, one being the economy. America can crash again, and it is known that was the very reason bitcoin was invented in the first place; so you could move your wealth somewhere where it wouldn't go to zero like a crashed fiat can easily do.

You think you are doing the right thing by moving into "stable" or fiat, well for a trader that is perfectly fine since they will take the chance to increase it, but for long run "holding", it is a disaster waiting to happen. And when it happens, you won't have time to flee into bitcoin, it would be too late.

Bitcoin was made to resist a world crisis, and this event proves it does.

In fact you should worry more about not falling victim to the virus, or not get infected so you won't help spread it into others who might die from it (even if you survive it).

Bitcoin is going to outlive all of us, i don't think you should be worrying about it. The USD might disappear first. No one uses French francs anymore, someday nobody will use US dollars anymore, hopefully they will see the light and move to bitcoin by then.

[White Christmas]

Hey, I was wondering, how will the crypto market react to the virus?
In this regard, I found the article about it, https://cryptogeek.info/en/blog/coronavirus-reveals-cryptocurrencies-are-crisis-resistant, it says, that crypto is well resisted to the crisis, what do you think? Is that true?

We can already see the reaction of the cryptocurrency market to the virus that has been occurring right now and I sadly to say that this is kind of bad reaction of the market due to the down of the businesses and also their profit because most likely their employees are now suspended on their work so probably they are losing profit right now, but the thing was is it true that this article says that this is a resistance? I don't think so.

[The Cryptovator]

If you not yet realized COVID-19 effects on crypto markets then likely you were far from markets lately. This is normal behavior on global crisis. Bitcoin or crypto isn't out of global economy, so crypto market is unable to recognize during that crisis. As a crypto lover we think positive always, but at the same time we can't hide the current circumstances. Even me I am thinking that I need some real cash during that global crisis and I sold some of my bitcoin before dump (I was really lucky that time). Just imagine, if every crypto holders think same as me then obviously it will effect on crypto markets. And yes, that's golden time who have enough real cash to accumulate crypto.

[Reid]

It went down a lot but it did came back.
So I think that summarizes it all.
Not all of it is about the virus but maybe a bit of it.

We are still on the path of going to a halving and the quarantine cannot stop that.
People, specially bitcoin supporters are still optimistic about it. I guess it will just be a manner of time and then they will come buying again which is a wise idea for this may be the lowest we could get.

[alexsandria]

It went down a lot but it did came back.
So I think that summarizes it all.
Not all of it is about the virus but maybe a bit of it.

We are still on the path of going to a halving and the quarantine cannot stop that.
People, specially bitcoin supporters are still optimistic about it. I guess it will just be a manner of time and then they will come buying again which is a wise idea for this may be the lowest we could get.

That's right this virus is just a part of the dumping and the down of the market. Remember that we are still having a bitcoin halving and in which I can say that this is the majority part of the dumping of the market because the bitcoin halving is very near so it would really just a matter of fact that we really need to take the risk on this situation.
There is no doubt that the bitcoin supporters are still being optimistic and positive despite the fact that the bitcoin is suddenly dumping and dumping right now and that's normal because cryptocurrency is volatile meaning no exact value.

[oRiddle]

In many countries around the world, the spread of rent and the government of big countries for the virus has helped with the rest of the points and provided opportunities for research so that it can create a better immune system but there is a huge loss of business for this virus. However, in my opinion, when the virus does not exist, then the price of cryptocurrency will be higher

[Exolix]

Hey, I was wondering, how will the crypto market react to the virus?
In this regard, I found the article about it, https://cryptogeek.info/en/blog/coronavirus-reveals-cryptocurrencies-are-crisis-resistant, it says, that crypto is well resisted to the crisis, what do you think? Is that true?

The market panic affected the cryptocurrency prices,but it still hasn't affected the blockchains.
The miners are still mining,even though there might be another price drop.There's still hope that the coronavirus pandemic will probably end in the summer,so I guess the miners are expecting a price recovery after the halving.The question "Is the blockchain strong and flexible enough to handle a huge global crisis?"
has to be a subject of a serious and complex discussion.What if the electricity production worldwide decreases because of the pandemic(more people in that industry get quarantined or diagnosed)?

We live on one planet and everything that happens here somehow affects each of us. Cryptocurrency is also dependent on world events.

Btw, about the blockchain. How will a decrease in the number of miners affect the value of a coin?
I’m talking about a decrease since the virus probably affected a lot of miners.

[joinfree]

Hey, I was wondering, how will the crypto market react to the virus?
In this regard, I found the article about it, https://cryptogeek.info/en/blog/coronavirus-reveals-cryptocurrencies-are-crisis-resistant, it says, that crypto is well resisted to the crisis, what do you think? Is that true?

I don't think you need anybody to tell you that this is not true looking at how the entire crypto market cap dump over $100 billion USD when the spread of this COVID-19 went viral. Currently, stocks, commodities, and cryptocurrencies are still underperforming due to the slowed economic growth in major countries. So yeah, this virus really has hit all markets and not only the crypto market.

[Sanugarid]

If you not yet realized COVID-19 effects on crypto markets then likely you were far from markets lately. This is normal behavior on global crisis. Bitcoin or crypto isn't out of global economy, so crypto market is unable to recognize during that crisis. As a crypto lover we think positive always, but at the same time we can't hide the current circumstances. Even me I am thinking that I need some real cash during that global crisis and I sold some of my bitcoin before dump (I was really lucky that time). Just imagine, if every crypto holders think same as me then obviously it will effect on crypto markets. And yes, that's golden time who have enough real cash to accumulate crypto.

With the situation getting severe every time I check on news update I see now how the virus is taking over the world and make us worst not only with the market but generally as World. The economy is declining, a possible recession might be the next threat to all of us after this, if you call this a crisis then what's coming next is a disaster. Cryptocurrency should be the fall back of everything in physical world but it seems like it isn't working, that defines our huge problem in front of us now really. Are not we prepared on this kind of event?

[sunsilk]

I didn't click on the link

Me either.

Coronavirus has nothing to do with crypto

It has nothing to do with crypto but with the investors, it does and reacted with the other markets. This made a huge fear because it's a pandemic and people who likely have funds stored on bitcoin probably sold for the lockdown specifically to the people who are affected by the said disease.

As it moved down rapidly a few weeks ago, it made a comeback and swinging somewhere from $5800 to $6300.