Coronavirus crypto

[Latviand]

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.

The economy of US which has a 676k number of cases now crashes as the stock market is the most affected. The impact of this virus is very unpredictable to them because they are not that ready for this pandemic. At first, they don't take the Covid-19 disease seriously because of their leader, Trump, who is a racist and we all know that there is some conflict between the Chinese and US government. The economy of China is somehow stable compared to other countries since the virus originated from them, it is so amazing how they controlled their market and economy. Cryptocurrency in China is for sure stable and progressive because of their economy, but in the US, I don't think that they can manipulate cryptocurrency properly with the pandemic.

[MCobian]

It is not true that crypto is resistant to crisis, because crypto like other investments is affected by the corona virus as well. The proof is
the price of bitcoin had dropped to $ 4000, followed by the price of altcoins which also dropped. But the advantages of cryptocurrency
compared to other investments cryptocurrency is recovering faster, it is proven that cryptocurrency prices have now started to rise.

[Janation]

It is not true that crypto is resistant to crisis, because crypto like other investments is affected by the corona virus as well. The proof is
the price of bitcoin had dropped to $ 4000, followed by the price of altcoins which also dropped. But the advantages of cryptocurrency
compared to other investments cryptocurrency is recovering faster, it is proven that cryptocurrency prices have now started to rise.

It is true that it is not resistant but that drop is not majorly because of the pandemic.

The proof is that despite the pandemic starts, the price increased two times. The first one is when it reached the price of $10K and the second one is when the price dropped to $4K, the price quickly recovered to $6K. That drop also was caused by the movement of the scammed Bitcoins to mixers, though it is true that the price is affected in a way by the pandemic as there are those people that sold their BTCs as they needed it.

[Onuohakk]

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 reacting badly to this global pandemic, talk more of crypto. This isn't the best time to forecast whether crypto is well resisted to the crisis or not. What I do know and understand is that nothing seems to be moving fine ever since the pandemic started, crypto market won't be an exemption to that. We are all encountering the global pandemic and soon we shall come out victorious when the covid19 is over

[Beginner Investor]

Hope someone can teach me to invest in cryptocurrency

[isaac_clarke22]

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?

Some are claiming that cryptos like Bitcoin are safe-haven for their assets, but now there are people panicking right now.
There ain't anything immune to crisis as people in it are the ones reacting as well as making the market as a consumer, putting it up the basic law of law of supply and demand.
For cryptos like Bitcoin, it was kinda affected as we saw the plummet of the price when this pandemic hit the globe.

[imstillthebest]

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?

Some are claiming that cryptos like Bitcoin are safe-haven for their assets, but now there are people panicking right now.
There ain't anything immune to crisis as people in it are the ones reacting as well as making the market as a consumer, putting it up the basic law of law of supply and demand.
For cryptos like Bitcoin, it was kinda affected as we saw the plummet of the price when this pandemic hit the globe.

i think he means resistant in a way that cryptos are still alive and not totally come to a point that thier value becomes zero or closer than that . what even better is that most cryptos now are rising again , it seems like cryptos arent affected with the virus if i were to ask and the fluctuations are normal just like before .

 sure crypto market works in a  law of supply and demand but not all people are paniking or pulling out thier assets but infact they even put more money  . many reason behind that

[Debonaire217]

Obviously, to some extent, bitcoin depends on the state of the global economy.
However, despite the deplorable state in which Bitcoin is located, it shows itself extremely positively, which somewhat surprises me.

Indeed, that is because bitcoin isn't relying to any assets, nor backed with any government. The only way bitcoin is defined is through the people using it. It's price is determined by the demand of the people. And IMO, bitcoin in relation to coronavirus crisis is a complete complement, I'm sure that most of the people who know bitcoin is utilizing it in times like this, that we are not allowed to go outside so our transaction occurs online.

I just don't know why when the COVID booms, bitcoin's price fluctuates too hard. Well, what is important is that, in just a week, it regained its stable price already.

[finaleshot2016]

Obviously, to some extent, bitcoin depends on the state of the global economy.
However, despite the deplorable state in which Bitcoin is located, it shows itself extremely positively, which somewhat surprises me.

We still focus on the idea of demand and supply, which is why we still do not assume that at some stage the plague is disrupting the crypto market. We didn't think about the other aspects of the economy, which are the consumers who are most impacted by the latest pandemic.

So I hope they should stop suggesting the coronavirus doesn't impact the market 'cause we don't have proofs that will make this argument valid.

[$crypto$]

Obviously, to some extent, bitcoin depends on the state of the global economy.
However, despite the deplorable state in which Bitcoin is located, it shows itself extremely positively, which somewhat surprises me.

Indeed, that is because bitcoin isn't relying to any assets, nor backed with any government. The only way bitcoin is defined is through the people using it. It's price is determined by the demand of the people. And IMO, bitcoin in relation to coronavirus crisis is a complete complement, I'm sure that most of the people who know bitcoin is utilizing it in times like this, that we are not allowed to go outside so our transaction occurs online.

I just don't know why when the COVID booms, bitcoin's price fluctuates too hard. Well, what is important is that, in just a week, it regained its stable price already.

Public demand, of course, is the most influential thing for bitcoin, where demand increases, so prices can be high because the availability of stock on the exchange is getting smaller, so many sell high and it becomes the main influence.
Well a few more days will be approaching halving whether the demand is increasingly full? I think yes where they want history to repeat again at very high prices but in times of crisis like this many people still doubt it because in the past bitcoin fluctuations were too severe to be seen with prices falling to the bottom making the holders nervous but with the increase now is a good start for bitcoin to recover.

[hahay]

It is not true that crypto is resistant to crisis, because crypto like other investments is affected by the corona virus as well. The proof is
the price of bitcoin had dropped to $ 4000, followed by the price of altcoins which also dropped. But the advantages of cryptocurrency
compared to other investments cryptocurrency is recovering faster, it is proven that cryptocurrency prices have now started to rise.

It is true that it is not resistant but that drop is not majorly because of the pandemic.

The proof is that despite the pandemic starts, the price increased two times. The first one is when it reached the price of $10K and the second one is when the price dropped to $4K, the price quickly recovered to $6K. That drop also was caused by the movement of the scammed Bitcoins to mixers, though it is true that the price is affected in a way by the pandemic as there are those people that sold their BTCs as they needed it.

There is a difference between the first and the second, but in reality the first incident is at least this coronavirus has not yet become a world pandemic so it is not surprising that prices can reach that resistance, but when the second event occurs where this coronavirus has been established as a world pandemic then any stock will get sharp decline so that with events like that prove crypto is not really resistant to viruses or other fundamental events and although prices are currently rising but at least the decline will always be in this market.

[camport]

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?

COVID19 has no effect on the crypto market

[Rengga Jati]

COVID19 has no effect on the crypto market

What's the reason, boy?
While all people stated that the negative trend on crypto market was caused by Covid-19, you even denied it. It's interesting to know your own theory, please tell us, boy!

In my own view, indeed Covid-19 brings effects to crypto market. Look at the fact! Since Covid-19 spread around the world, the values of crypto coins/tokens are getting down. Moreover, it may ruin the positive trend on Bitcoin halving as many people doubt it if Covid-19 still continues.

Do you still think there is no impact on crypto market? @camport

[finaleshot2016]

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?

COVID19 has no effect on the crypto market

Any facts which might support your statement?

People spat out non-sense comments without even explaining why. When you read the entire thread, several people have already indicated that COVID-19 has a limited impact on the crypto market and it seems to be accurate.

It's not a coincidence, it's all 'cause of the pandemic.

[arwin100]

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?

COVID19 has no effect on the crypto market

Any facts which might support your statement?

People spat out non-sense comments without even explaining why. When you read the entire thread, several people have already indicated that COVID-19 has a limited impact on the crypto market and it seems to be accurate.

It's not a coincidence, it's all 'cause of the pandemic.

Actually for some reason people thinks that there's no direct impact since crypto is separate to the other issues but the sad reality is it's really affected the same as the on the other commodity since the current pandemic creates panic to the people to secure their fiat and few investment are running and money flow is not the same as the normal days since people are in hoarding state.

[fullhdpixel]

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'm already tired of arguing this with some people. If you ask me I would say that bitcoin was affected but some people would say that's a lie, that it wasn't affected, rather they will look for other things to link the price decrease with, but I am not going to believe that.

Someone once said that the main reason the price of Bitcoin fell was because of the oil price war, and then another person said that the price decrease was as a result of the quantum computer that was announced, and tried to prove it by linking with the past event of what happened when it was first announced. There are also people who say that the fall was caused by the PlusToken scam.

[Sanugarid]

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

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

How are we going to check this? I mean there is no data to rely on checking the effects of the pandemic towards any market especially in crypto, we are just seeing it in decline so we know what is going on with it but there is literally no way we could say that there is indirect or direct effect on the market. Bu deep inside we know that the pandemic caused everything in motion now.

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.

Just think of a plain picture, bitcoin price was good until the end of February even the virus is already in China in December 2018, and the bitcoin price plummeted when there is a proclamation of quarantine in many countries, in that picture you could simply assume that people has been covered with fear and they sold their asset to buy a longing necessites.

[aakashsangwan]

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?

Maximum peoples of the world are passing difficult time for COVID-19. Daily thousands of people are going to die. Always peoples are watching news about death and attack of COVID-19. All time they are panicked. So I think  crypto is not well resisted to the crisis now.

Crypto fell drastically when the Corona virus was declared as a pandemic and that day the stock prices and the Prices of Crypto both fell. And now the economies are closed and people aren't getting paid so what would they do to fulfill their daily needs, they will simply sell their investments and that includes stocks and Crypto both, so i think that the bad times for Crypto aren't over and the worse is yet to come.

[XCANA]

The true should be told, the entire market was deepened because of the coronavirus and that's what I know frankly speaking. Many experts spoke concerning this that, the cryptocurrency was created to stand this crisis but were disappointed when the crisis struck and cryptocurrency went down with the other market. Though, much have been done to the market but hope to see a good positive movement during this halving and after.

[kezinaur14]

This virus affect a whole lots of stuff when it comes to online and offline business not to talk about crypto and stock market, the market situation now can't beat this Corona virus pandemic, till a way out is pronounced.

What I find amazing is how interconnected it all is, this real world phenomena changed the way we behaved online (stock market crash, bitcoin sudden crash), but also our online planning to stay inside affect greatly the world outside, it's just fascinating to be living in such interesting times.