Coronavirus crypto

[Janation]

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.

Then how can you explain that the price quickly regained?

It is true that there are some of those people that panicked, but are those people really panicking about the fact that there is a pandemic? We don't know if they are just scared of what may happen or affected but obviously there are those that sold theirs because of the essentials they need to buy, for the sake of their safety from the virus. Can we really say that all of those people panicked and sold because of the pandemic? As an investor, knowing that people would be doing the same, you would be riding the bus early, right?

[kevinrosario93]

We have encountered some failures, because bitcoin is still unstable to such crises. Very few people use it to dispose of this currency as Fiat money for purchases of food and basic necessities.

[Assface16678]

The virus just attaches to the whole economy because of the transactions and getting a shortage of the people of supplies and one of those is the use of the oil, foods, and more kinds of the problem into the world economy. But if talk about the cryptocurrency to it takes a lot of damage too there are a lot of people stop their support for the whole crypto because they need some funds to survive their selves money is worthless if you die it is better to save your self because getting greedy on the money. Some of them use their funds to buy a lot of things they need because some places made a lockdown and under quarantine, to avoid the virus getting spreading which is a good idea. Today some of the countries are totally recovering which is a good sign and some of the investors today back to the world of crypto and the price of the coins today reaches now over 9k and by the help of the halving, it increases the chance that the coin will blow up and gives us a good market income.

[solomine]

You still can make money with btc even in lockdown.
The question is how to invest. Just buy it - not interesting and not effective. Trading - quite dangerous. Deposit - good compromise, somewhere like gekkoin. Even mining!

[Wafilian]

The adverse effects of coronavirus have hit economies around the world. Forex market and Cryptocurrency market, The response is only noticeable everywhere. The only bitcoin pumped because of halving and other altcoins not pumped more.

[$crypto$]

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.

This crisis cannot be controlled by anyone because it is purely due to a coronavirus, therefore many economies have slumped due to the lockdown applied so that many industries and companies cannot run normally so their income is reduced by half.
If cryptocurrency becomes the stage of a crisis then it will not pass for a pandemic like this. Almost all countries experience the same thing, so crypto cannot soar when the stock market goes down.

[alisonwonder]

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.

This crisis cannot be controlled by anyone because it is purely due to a coronavirus, therefore many economies have slumped due to the lockdown applied so that many industries and companies cannot run normally so their income is reduced by half.
If cryptocurrency becomes the stage of a crisis then it will not pass for a pandemic like this. Almost all countries experience the same thing, so crypto cannot soar when the stock market goes down.

indeed many suffered losses during this epidemic many companies collapsed and many people lost their jobs and made the world economic condition to be destroyed instantly because many people were unemployed at home, but even though like this I am sure everything will recover soon.

[xiboothrezi]

The virus just attaches to the whole economy because of the transactions and getting a shortage of the people of supplies and one of those is the use of the oil, foods, and more kinds of the problem into the world economy. But if talk about the cryptocurrency to it takes a lot of damage too there are a lot of people stop their support for the whole crypto because they need some funds to survive their selves money is worthless if you die it is better to save your self because getting greedy on the money. ...

So it actually has an effect but the crypto market especially bitcoin can recover faster than the stock market, oil, etc. This is also caused by high volatility. In these circumstances, everyone will definitely prioritize meeting their daily needs, health needs, and helping people affected by this pandemic. So the investment is not a priority at this time, until a massive sell-off last March. However, when it was handled, the market recovered.