What do you think?

[rodskee]

Even I thought this virus will not have any affect on crypto market but eventually it did through the panic it spread across the world as most of us including myself had to withdraw our asset in order to stock up due to lock downs and curfews throughout the world for our safety but gradually things will change once he virus starts subsiding and once again I would like to remind you virus did not had a direct impact but it's the panic which has caused the chaos.

I don’t believe that you dod not thought that Corona Virus will not effect Crypto market because since December the news spreads out the media and thousands are dying in China.
In this implication it is impossible that this will not effect the crypto market though not this Bad because the panic grows wild that fast and many of us did not expected.
But lets be truthful here because this problem will stays to us longer than what we are thinking now.

[beerlover]

I doubt that corona will be "resolved" all that easily, humanity will just adjust to it and starts living with it, you think swine flu or bird flu or influenza or whatever else just gone away totally? They no longer exists? They are still around, they still kill many people as well, we just started to learn how to live with it and it doesn't kill as much as it used to because we have medicine against them.

So, what will happen is we will find a cure, we will fix many of the sick, there won't be many that are sick and out there anymore, anyone who gets it will go to doctors and get better, and that way people would be allowed to go outside because even if you get infected you will be cured so there is no problem anymore. That is not something we do overnight.

[okala]

I am currently bullish on bitcoin and hoping the market recover soon. We don't have any reason why bitcoin should fall and going below $4000 is out of the equation. Bitcoin might get better before the halving if the covid19 pandemic is reduced to controllable major.

[adaseb]

I doubt that corona will be "resolved" all that easily, humanity will just adjust to it and starts living with it, you think swine flu or bird flu or influenza or whatever else just gone away totally? They no longer exists? They are still around, they still kill many people as well, we just started to learn how to live with it and it doesn't kill as much as it used to because we have medicine against them.

So, what will happen is we will find a cure, we will fix many of the sick, there won't be many that are sick and out there anymore, anyone who gets it will go to doctors and get better, and that way people would be allowed to go outside because even if you get infected you will be cured so there is no problem anymore. That is not something we do overnight.

We will adjust to it when there is a vaccine available. That way if there is an outbreak instead of isolating the entire planet, people will just take the vaccine and go to work. The reason why people don't go to work is because there is non available. And most people are just waiting for a vaccine.

Why risk going outside, getting infected and dying 2 weeks later. Not worth it. If there was a vaccine then it would of been different. Maybe that drug combo that Trump suggested will work as a way to cure the virus against the ones infected however there is no proof it works yet even.

[exstasie]

Maybe that drug combo that Trump suggested will work as a way to cure the virus against the ones infected however there is no proof it works yet even.

It definitely isn't a cure but it might be an effective treatment. Although detractors have all but written it off, there are some early signs the hydroxychloroquine/azithromycin combo may be effective.

Doctors in Bahrain are administering it to patients. The government says it was effective in "alleviating the symptoms of the virus and reducing its complications." https://www.al-monitor.com/pulse/originals/2020/03/bahrain-claim-success-anti-malarial-drug-coronavirus.html#ixzz6I47tr8BO

A small French study found that "hydroxychloroquine treatment is significantly associated with viral load reduction/disappearance in COVID-19 patients and its effect is reinforced by azithromycin." https://www.sciencedirect.com/science/article/pii/S0924857920300996

South Korean doctors also found "some success" administering hydroxychloroquine to COVID-19 patients. https://www.local10.com/news/local/2020/03/28/desantis-shipments-of-drug-hydroxychloroquine-to-help-covid-19-on-way-to-florida/

[fabiorem]

I'm going for a inverted DCA strategy, where I will sell fractions of bitcoin each month.
I think its the best way to get out. If you sell all of a sudden, and the government decides the COVID-19 drill is over, the price will certainly go up, and you will lose profits (or the opportunity to mitigate losses). A inverted DCA is as good for a bear market as a standard DCA is for a bull market.

[bitgolden]

Cure and treatment are totally two different things that people need to understand at this point. When you give people these medicine they are not suddenly cured, it is not suddenly all sunshine and rainbows for them, but does it make them better? It definitely does.

What we normally had before all of this was keep the people who got corona alive as long as possible until their body could counter a measure for the virus and fight it back, if you have a virus long enough your body adjusts to it and fights it off and you get better, some old people doesn't have that much of a good immunity so they can't survive long enough and they end up dying, those are the people who die right now.

If we get a "treatment" even if it is not a cure, we could save "some" of those people, not all but some could survive longer enough to get their immune system up and running.

[adaseb]

I'm going for a inverted DCA strategy, where I will sell fractions of bitcoin each month.
I think its the best way to get out. If you sell all of a sudden, and the government decides the COVID-19 drill is over, the price will certainly go up, and you will lose profits (or the opportunity to mitigate losses). A inverted DCA is as good for a bear market as a standard DCA is for a bull market.

This is a good strategy however not in a bear market like we are right now. You should of been doing this inverted DCA selling when we were hitting new highs at the beginning of the year or in the middle of 2019. Selling little by little right now is better than selling everything at once because it could go down further however the price is pretty low right now compared to how we were easily over $10K a few times in the last year.

I keep telling people that it doesn't hurt to take profit. I remember in February there was a 6% June futures premium and I think it hit like $11.5K at once point and would of been a very good price to sell, selling right now doesn't make sense. You might as well wait and see what happens during halving. Right now is a time to buy if anything.

[GreatArkansas]

At first I did not believe that there is a correlation between the market price of cryptos and the virus itself because the moment it caught the attention of the 'masses' there's nothing much of a movement in the market value of cryptos. But things have changed when the virus was classified as 'Pandemic' by World Health Organization,in March 11, as reported in CBC News. Consequently, the market price of cryptos fell in March 12

This chart is really true, we saw bear movements here. After the $10,000 was rejected and fall it below $8,000, I have become a bear on that level and this recent case of coronavirus (covid19), Bitcoin really did a bloody move falling below $4,000 in just span of 24 hours which is also good to recover and bounced back now on $6,000 levels.
For me, as we don't break the trendline above, Bitcoin will continue to suffer these coming days.

[criza]

I too, didn't believed at that there is a correlation between the two varible: the virus and the standing of Bitcoin but, as the virus spreads even more and has affected a lot of countries, the price of Bitcoin dips to $3,500. As the Bitcoin market gradually increases in its price, we could totally say that the infected countries are now recovering from the effects of the pandemic, and if this continues, we could expect a massive pump in the price of the coin because of the halving event + the impending demands from the people who are now in quarantine.

[exstasie]

I'm going for a inverted DCA strategy, where I will sell fractions of bitcoin each month.
I think its the best way to get out. If you sell all of a sudden, and the government decides the COVID-19 drill is over, the price will certainly go up, and you will lose profits (or the opportunity to mitigate losses). A inverted DCA is as good for a bear market as a standard DCA is for a bull market.

Are you telling me the bubble popped in December 2017 and you waited until now to start selling?

I remember in February there was a 6% June futures premium and I think it hit like $11.5K at once point and would of been a very good price to sell, selling right now doesn't make sense. You might as well wait and see what happens during halving. Right now is a time to buy if anything.

Given the short term (daily and 4-hour) downward momentum, I think it's likely we can buy in the $5,000s and possibly $4,000s. We are currently at the upper end of a newly defined range.

[justdimin]

Everyone thinks that corona will be "gone", it is not something that goes away, this is a virus and as long as there is at least 1 person who is infected in the world, there will be corona going on, and believe me there will be people with corona all around the world at all times forever from now on, it will never go away. Look at ebola, look at swine flu, look at others they are all still around, most noticeable we still have influenza, after ALL these years, why? Because, it never fully goes away.

We will just learn to live with it, it will not be as harsh as this and we will have cures and treatments for it basically it will be a hard flu and you will recover instead of thousands of people dying every single day, but we will still have corona that just kills a lot less people.

[Btc_1856]

I am currently bullish on bitcoin and hoping the market recover soon. We don't have any reason why bitcoin should fall and going below $4000 is out of the equation. Bitcoin might get better before the halving if the covid19 pandemic is reduced to controllable major.

Bitcoin is moving in the right direction, but the major problem with the current situation of the world, every day we see more infected people which makes the affected people are increasing and this makes how long this lockdown will continue. As of now, Bitcoin is strong at the current value, but whether it will continue at the current price we have to wait and see.

[Questat]

I am currently bullish on bitcoin and hoping the market recover soon. We don't have any reason why bitcoin should fall and going below $4000 is out of the equation. Bitcoin might get better before the halving if the covid19 pandemic is reduced to controllable major.

Bitcoin is moving in the right direction, but the major problem with the current situation of the world, every day we see more infected people which makes the affected people are increasing and this makes how long this lockdown will continue. As of now, Bitcoin is strong at the current value, but whether it will continue at the current price we have to wait and see.

Bitcoin is going strong and that is good and despite of the current situation, I don't think it will be able to stop bitcoin.
It's been proven that bitcoin is not correlated with stocks or anything, it has its own movement and most of the time it move opposite on what we are expecting, the problem we are facing now is very serious, stocks are falling while bitcoin is still start and slowly recovering.

This article is very interesting on how bitcoin beat Dow and S&P 500 in the first quarter

https://www.cnbc.com/2020/04/01/bitcoin-beats-dow-sp-500-stock-indices-in-first-quarter-2020.html

[GreatArkansas]

I am currently bullish on bitcoin and hoping the market recover soon. We don't have any reason why bitcoin should fall and going below $4000 is out of the equation. Bitcoin might get better before the halving if the covid19 pandemic is reduced to controllable major.

Bitcoin is moving in the right direction, but the major problem with the current situation of the world, every day we see more infected people which makes the affected people are increasing and this makes how long this lockdown will continue. As of now, Bitcoin is strong at the current value, but whether it will continue at the current price we have to wait and see.

As what others telling; Coronavirus (covid19) is extremely affected the price of Bitcoin, well, there are some possibilities it's true or Bitcoin is just being a Bitcoin (extremely volatile).
We should also always look for a long term here, we are in Bitcoin and we all know that we are still in the early age of this.
Falling prices on Bitcoin these days is kinda normal, but if you will don't mind it and continue to hold, no panic, avoid watching charts every time, you are safe.

[michellee]

This time, we see a strong movement from bitcoin. The price can jump through the higher price, and the bitcoin price already breaks $6,7-- but we are now seeing bitcoin price reach $6,500 - $6,600 price level so the chance for bitcoin price to break $7,000 will be still wide open. We can hope that this month can bring new hope to us and bitcoin price rise again. We still need to watch out of the market because the price can move to anywhere, so we need to be ready for that.

[vintages]

I feel the price of bitcoin dipping is as  a result of panic from investors who believe the pandemic will affect it. It's in people's nature to panic for no reason. The panic buying of tissue paper is a good example 

Moreover, the price of Bitcoin is not the only 'product' or investment that went on a slump since the virus started. Some businesses have noticed an improvement, while for others, it is the opposite. There are also changes in the stock market; some stock investors notice an increase while it the opposite for some.

[smyslov]

Given how these two variables seem to be related, do you think the market will fully recover once the problem with regards to the emergence of Corona Virus is resolved? or there are other factors which may trigger an uprise or keep the market low-still?

From the start, I also thought that Covid 19 has nothing to do with it but after seeing every market is crashing and the cause is uncertainty people are in a hurry to liquidate, but once they see a glitter of hope the market quickly recovers, and the momentum will still grow up in the coming weeks or months and after the halving, we'll see a dramatic change.

[Quidat]

Given how these two variables seem to be related, do you think the market will fully recover once the problem with regards to the emergence of Corona Virus is resolved? or there are other factors which may trigger an uprise or keep the market low-still?

From the start, I also thought that Covid 19 has nothing to do with it but after seeing every market is crashing and the cause is uncertainty people are in a hurry to liquidate, but once they see a glitter of hope the market quickly recovers, and the momentum will still grow up in the coming weeks or months and after the halving, we'll see a dramatic change.

Of course! Not all the times we do see a dumping of price or in a continuous manner and if it do reach up a certain support it would eventually recover but all things vary on market makers.

If price should really be stopped there or would continue to dump.I dont really believe that only who do panic do able to sell-off their holdings even hodlers do surely sell off a bit of their
coins.

Me also didnt expect that Corona virus did put much affect not only on crypto market but also on other traditional markets as well.

[Dart18]

I also believe there is no such thing as connection to the two.
But when you see the whole world economy falling then there might be some.
Bitcoin is not part of the world, there is no denying that since it also reacts to what is happening into it specially in the financial industry.

There will always be a time where it will pick up its broken pieces.
What we need to worry by now is survive this pandemic. Somewhere in the future bitcoin will be back and maybe stronger.