Coronavirus crypto

[BayAreaCoins]

[pixie85]

Crypto is not immune to panic and it works just like the finances and stocks. Today the S&P500 spiked up and so did Bitcoin.

Don't cremate! Build a new soap factory! We need to keep hands clean for Corona.

[betty11]

The Crypto market reacted nagatively to the virus outbreak but as I write, Bitcoin seems not to care about the epidemic as it's keeping its position at $6k zone , if it wasn't resistance it could have Perhaps slide to $2k zone which we didn't experience despite a heavy panic sell off.

[koang]

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 think panic selling is the impact of Corona.
There was a fear of economic paralysis which had a domino effect on various sectors and various countries.
But the good news is that for the past five days, there have been no reports of new cases of the Corona virus in Wuhan city where the virus was detected.
China is now in good control, and now China is helping others
After that, Halving come and green candles everywhere

[Twentyonepaylots]

Crypto is not immune to panic and it works just like the finances and stocks. Today the S&P500 spiked up and so did Bitcoin.

Don't cremate! Build a new soap factory! We need to keep hands clean for Corona.

Most factories here from where I am at are already manufacturing sanitary equipmets to help battle the growing demand. And cryptocurrency-wise, the industry is not responding well in terms of the coronavirus panic. Most investors have panic sold, supposedly to cash out their money for personal use. Which is really bad. From $10k to $6k. But I don't see it as something that will kill bitcoin in itself. Bitcoin had encountered even greater losses than this. Provided that the world recovers from COVID-19, bitcoin will surely bounce back.

[TimeTeller]

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 think panic selling is the impact of Corona.
There was a fear of economic paralysis which had a domino effect on various sectors and various countries.
But the good news is that for the past five days, there have been no reports of new cases of the Corona virus in Wuhan city where the virus was detected.
China is now in good control, and now China is helping others
After that, Halving come and green candles everywhere

We need to get the vaccine here but unfortunately we need to wait for months and months.
Help is ok, but solution would be best to stop the economic loss of most affected countries.

[princesspoppy]

Cryptocurrencies being a crisis proof is not true. Corona virus affected many, the stock market, crude oil, the world economy as a whole and now we see it in the market. We also know that the crypto market is very volatile, even a simple panic can change the market price and now that corona virus is here, infecting many people around the world not only gives panic to particular people in a country but rather in the whole world. This is the reason why people  convert their crypto assets to fiat currencies to buy their everyday necessities. This only proves that crypto is not crisis proof.

[KrisAlex18]

This COVID-19 really affects the cryptocurrency, I don't think that the source link is saying the truth that it doesn't affect the dumping of the bitcoin because it really is. When COVID-19 spreads all over the world the price of the bitcoin also starts falling so I think it is somehow related to the price drop of different cryptocurrency because of being affected of some players, investors and traders, some of them are being afraid of the virus so they converted it into fiat to buy some goods and stuffs that they will be needing to survive for the crisis.

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.

Well said mate, even though we know that cryptocurrency is volatile, it can be still affected by the virus, no one can escape the effects of the crisis that we are now facing.

[BayAreaCoins]

Corona is definetely testing the Crypto markets and it is in this crucial time that we will learn if Bitcoin is indeed a safe-haven asset

Bitcoin is headed to $50k for sure.

[aysg76]

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 article is well written with some facts in it.

I am not sure if market is really resisting the crisis of corona OR all the crypto lovers are at home and focusing in the crypto market thus resulting into increased capital of market.

You couldn't rule out this possibility if thought about it closely. The gesture of #Coronavirus is affecting the market in positive way.

It seems that even stock markets have restored pretty good on today's date for asian countries and hopefully will be the same pattern in east to west hemisphere.

There is surely some effect of corona.

[ethereumhunter]

In his comment given to The Independent, the cryptocurrency expert Glen Goodman said that the Bitcoin price crash was a reaction of the stock market wreck. People needed cash to pay off their debts to the brokers. So they had to sell everything they could including crypto assets.

That statement could be the reason why the crypto market has fallen so deep. People need money among the spreading of the virus, and they use cash to buy their daily needs. While some of them are using digital money like credit/debit cards, they also use some apps which they've already deposit before so they can pay with the mobile phone. But they don't use the crypto as the payment method.

The future crypto is bright, but it will not happen so soon because we know that improvement from the government is an important thing that will allow crypto to be used besides fiat. After all, we like to see crypto already rise for now, although it is not too high as we want, and it is enough for us to make a profit.

[Yatsan]

All type of currency and markets are based on the law of supply and demand, so for me; the virus affect crypto due to the fact that this virus is affecting other market like stock, forex, commodity etc. In this times, people need money, so my guess is a lot of bitcoin holders are exchanging their bitcoins and other crypto to fiat to survive this virus. If you are aware a lot of country now are on lock-down, including our country so personally I pull out some of my investment and buy basic needs and a lot of stock foods to survive this pandemic. In this situation the demand for bitcoin will go lower so same with the price, and same with the other type of market. 

[peter0425]

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?

it is not my type clicking links from low ranks so sorry for that.

i will rely on your Post in which asking how will crypto market react in this Virus in which i think the only relevant story is People in crypto is now selling their currency and converting to Fiat.

this serve as why the market suddenly fall that bad,but now i believe that we are in recovery stage so just wait for another weeks or months and we will see good movements again.

[bangdik123]

Bitcoin is headed to $50k for sure.

It is not impossible that happens, but it seems that it will take time to be able to regain strength with the condition of this co-19 virus pandemic, of course everyone who becomes an investor still needs time to think far ahead, because everyone is in a state of worry about their lives.

[owengtam09]

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 whole world is really affected, even bitcoin is affected, maybe because of lockdown. Many people now cannot go out to some places. Someplace or some country needs to go outside just to buy bitcoin but as of nowhere in our country we cannot go outside, even the workers cannot go to their workplace, so a lot of people are affected by their income. Maybe that is also because a lot of us now are selling their bitcoins to buy their needs especially foods.

[LEON331300]

Surely,  the virus isn't the only reason for the call of major stable coins,  but I can say it takes the major cause.  This virus made holders sell their coins due to fear and panic, who would blame them,  since crude oil and stock market fell,  the fate of the cryptocurrency could not be predicted,  these factors all together resulted in fall of price.

[valuater]

Bitcoin is headed to $50k for sure.

It is not impossible that happens, but it seems that it will take time to be able to regain strength with the condition of this co-19 virus pandemic, of course everyone who becomes an investor still needs time to think far ahead, because everyone is in a state of worry about their lives.

Indeed, it takes time to be able to recover the price of bitcoin, with the situation that is still not conducive because this corona is almost all currencies not just cryptocurrency it has an extraordinary impact. Of course this is also one of the unprecedented experiences where almost all countries experienced the worst conditions except for the USD which indeed has a policy of cutting interest rates to 0, so the impact of bitcoin is currently weakening, one of which is due to US policy.

Hopefully all of this quickly ends and bitcoin can come back strong in the next few weeks

[sayam]

Corona Virus could not collapse crypto market at once but there may be difficult times ahead for us. On the contrary, it may be happen that we may seen a good situation. However, I'm hopeful that we will overcome all current obstacles.

[finaleshot2016]

I think the novel coronavirus serves as one of the factors that make cryptocurrency at downfall today. The crypto market is somehow related to the oil, stocks, forex and other markets as well. And we all know that the market plays in the concept of demand and supply and we could assume that it's not.

But you guys forget about the consumers and producers who really played well in that concept and those are affected by the coronavirus, so definitely it really affects the cryptocurrency but in the minimal state.  

[Janation]

Hey, I was wondering, how will the crypto market react to the virus?

The virus did not affect the cryptocurrency directly unlike other investments.

As people would say that the pandemic is affecting the price of Bitcoin but not directly. As there are people that would be selling their Bitcoins to give their needs in this lockdown, there are those that buy so they would be ready with the halving that will happen. The proof of it is when the price dumped to $4K and just after days, the price went back to $6K. Another note here is that the pandemic is not the one responsible for that dump.