What could be the effect of corona virus on crypto industry?decrease or increase

[Ronaktejani]

basically it has drastically crashed stock markets worldwide.
and we can see more 20% downside in stock market before april end.
but bitcoin and other top currencies are already at its bottom level. we cannot see more correction in it.
and due to stock market crashes, again people from stock markets attracted towards crypto currencies.
moreover India and Korea and few other countries have started to take step to legalise this industry.
so, we can see 10000$ bitcoin before may end again.

It is my analysis only according to my forex and crypto experience.
experts can give their suggestions to bring proper conclusion.

[White Christmas]

Obviously based on what we have been seeing the Corona virus brought a negative impact to the crypto Industry as well as to the many business because of it's lockdown from different part of the world and maybe this is one of the most problem because the industry of the cryptocurrency is currently facing a big problem due to this pandemic virus.

[taufik123]

the impact of the coronavirus pandemic has a negative and detrimental effect on the crypto industry, for example China has a variety of crypto industries and blockchain companies.

Chinese crypto and blockchain companies temporarily stop workers and allow workers to go home and work at home to anticipate the spread of the coronavirus.
This certainly creates a bit of a problem in the crypto industry because workers only do their work from home and are not very responsive.
This drastic decline makes the crypto industry must survive in the midst of this pandemic.

but on the other hand there are many who are interested in cryptocurrency because people in their homes are starting to learn about cryptocurrency, a step to legalize crypto taken by India and Korea is the right step.

[Bitcoinislife09]

basically it has drastically crashed stock markets worldwide.
and we can see more 20% downside in stock market before april end.
but bitcoin and other top currencies are already at its bottom level. we cannot see more correction in it.
and due to stock market crashes, again people from stock markets attracted towards crypto currencies.
moreover India and Korea and few other countries have started to take step to legalise this industry.
so, we can see 10000$ bitcoin before may end again.

It is my analysis only according to my forex and crypto experience.
experts can give their suggestions to bring proper conclusion.

Probably we are going to experience a lot of resistance in the market price of bitcoin and also a lot of dumps in the coming month for sure, Because a lot of economy of many countries are down because of the coronavirus.

For sure their are just so many factors affecting the market price of bitcoin and we cant really accurately predict what is going to be the market price of bitcoin in the coming months that but one thing is for the virus is affecting the market.

[dothebeats]

The whole world is in shambles right now. Only the skeleton of the economy is up and running, mostly from food and healthcare industries and nothing else. As you can see, everyone even in the stock markets isn't doing pretty well. The prices for crypto is also currently doing sideways, with little dips here and there indicating that there's not much going on. Volumes are also on the low across all exchanges and frankly everyone seems to be just busy surviving day by day. I do not expect any major movements for bitcoin or any other crypto in any way in the nearest future, seeing how dead everything seems atm.

[Sanugarid]

Obviously based on what we have been seeing the Corona virus brought a negative impact to the crypto Industry as well as to the many business because of it's lockdown from different part of the world and maybe this is one of the most problem because the industry of the cryptocurrency is currently facing a big problem due to this pandemic virus.

Well it does not fit the idea of corona virus as a deflationary matter to the bitcoin, we don't have much information to contain it however by our natural human instinct we mostly agree that the entire world is suffering from the pandemic and so the crypto world is, but I think the crypto space is perfectly normal and doing pretty as it needs to be because of speculation and volatility, nothing more nothing less. We have less information for any pandemic diseases like this to effect the prices since we are just a decade old and have not encountered this huge from the past yet.

[Oilacris]

basically it has drastically crashed stock markets worldwide.
and we can see more 20% downside in stock market before april end.
but bitcoin and other top currencies are already at its bottom level. we cannot see more correction in it.
and due to stock market crashes, again people from stock markets attracted towards crypto currencies.
moreover India and Korea and few other countries have started to take step to legalise this industry.
so, we can see 10000$ bitcoin before may end again.

It is my analysis only according to my forex and crypto experience.
experts can give their suggestions to bring proper conclusion.

Can you be so sure in talks of bottom prices? That one doesnt fit out here on crypto space yet any support can be anytime be broken out.
Yeah we have seen on how this pandemic affect the traditional markets but doesnt mean that the money would flow here on crypto space
yet we know that people now are prioritizing on cashing out everything for survival.

Adoption is always on the move but it doesnt mean that we would see 10k price in the end of the month although this thing isnt
sure since this market is always been unpredictable.

[verita1]

Although it is too early to predict the effects that the Covid19 will leave and that will be negative in a large percentage. Being optimistic I could see a slight increase in the crypto industries.
We need FIAT to us be sure in this time of public health crisis that will turn the economy upside down and that is synonymous with unemployment and falling prices.

[Yaunfitda]

Well, obviously, the price did sink when the news about the pandemic became widespread and many people panic and sold-off. But that was like three weeks ago, and bitcoin so far have recovered from $3800 to $6600 already. So as for the effect? we have survived and bounce back.

However, there are a lot of uncertainty in the air, although there is block halving next month, we still don't know what's going to happen, we have hit 5 digits again, or the price will simply tank or go on a sideways.

[michellee]

If the crypto industries have been in real life, of course, that will get the effect of coronavirus. But if the crypto industry is lived on the internet, then the effect is not too big to compare with real life. We know many industries in all country has got the effect. And many of them are shut down their business temporary. At this moment, the industry has been decreasing, but I am sure that it will get up again after we can survive and pass this test.

[AniviaBtc]

basically it has drastically crashed stock markets worldwide.
and we can see more 20% downside in stock market before april end.
but bitcoin and other top currencies are already at its bottom level. we cannot see more correction in it.
and due to stock market crashes, again people from stock markets attracted towards crypto currencies.
moreover India and Korea and few other countries have started to take step to legalise this industry.
so, we can see 10000$ bitcoin before may end again.

It is my analysis only according to my forex and crypto experience.
experts can give their suggestions to bring proper conclusion.

Probably we are going to experience a lot of resistance in the market price of bitcoin and also a lot of dumps in the coming month for sure, Because a lot of economy of many countries are down because of the coronavirus.

For sure their are just so many factors affecting the market price of bitcoin and we cant really accurately predict what is going to be the market price of bitcoin in the coming months that but one thing is for the virus is affecting the market.

Yes, it is true that each and every country affected by this corona virus is also experiencing a problem in their economy, it includes the stock market of US as its cases is constantly increasing. US really underestimated the destruction that the virus can bring to its citizen because they didn't do some proper actions immediately during this pandemic. They ignore the news around the world because the US leader is irresponsible and racist that's why he belittled the Covid-19. The China is somehow recovering from the virus that came to them as their recovery almost equal to the number of cases in their country, also their stock market is stable and doesn't have any discrepancy before the virus occur. There are a lot of bitcoin miners in China and I think that contributes to some factor on how they manage to control and manipulate cryptocurrency in their market.

[Latviand]

Obviously based on what we have been seeing the Corona virus brought a negative impact to the crypto Industry as well as to the many business because of it's lockdown from different part of the world and maybe this is one of the most problem because the industry of the cryptocurrency is currently facing a big problem due to this pandemic virus.

Well it does not fit the idea of corona virus as a deflationary matter to the bitcoin, we don't have much information to contain it however by our natural human instinct we mostly agree that the entire world is suffering from the pandemic and so the crypto world is, but I think the crypto space is perfectly normal and doing pretty as it needs to be because of speculation and volatility, nothing more nothing less. We have less information for any pandemic diseases like this to effect the prices since we are just a decade old and have not encountered this huge from the past yet.

I think that it doesn't affect any factors in cryptocurrency just because the virus is still active but as the volatility of crypto is constant, and it will have much effect in the market. But this quarantine will make us more support the proper use of crypto in many transactions, we will know the true function of it for the community. Also mass adoption will be more promoted in each and every people that may know the value of cryptocurrency. There is a decrease and increase in crypto industry as this virus not only bad effect that can kill people, it makes people more united and coordinated as the government is really doing their best to fight this virus and also to control their economy. It is not that easy to manipulate an economy during a crisis that can involve a lot of people and also a stock market.

[pooya87]

the effects are non-existent but of course when the global economy is crashing hard you couldn't expect bitcoin market to be completely unaffected. although seeing this big an effect is also unreasonable but we could explain it to some extent considering the manipulations and the small size of the market.
as for the "bottoms" i don't think altcoins, specially the "top" ones are anywhere near their bottom. in fact many of them are still in bubbles which need bursting. but bitcoin has been below its bottom ever since price dropped below $9k. which is the reason why we are seeing rises in the past 2 days despite the rest of the world still dumping.

[minairia3]

so, we can see 10000$ bitcoin before may end again.

It is my analysis only according to my forex and crypto experience.
experts can give their suggestions to bring proper conclusion.

We are already a month away from May but still we are down by $3k, I am not pessimistic guy about this but this is purely speculation. The effecy of good news still outrun by a crisis that been experienced. Conclusion not always end up correct but still, we should be wary of much better reasoning. These are fundamentals we are talking about. Stocks are down get it. But it doesnt mean investors will jump ship on crypto right away.

The whole world is in shambles right now. Only the skeleton of the economy is up and running, mostly from food and healthcare industries and nothing else.

Precisely, if the crypto industry can move like thunder, then those down firms can recover but thats not the case as many are saving face and even funds here for a longer effect of corona.

[pragna]

basically it has drastically crashed stock markets worldwide.
and we can see more 20% downside in stock market before april end.
but bitcoin and other top currencies are already at its bottom level. we cannot see more correction in it.
and due to stock market crashes, again people from stock markets attracted towards crypto currencies.
moreover India and Korea and few other countries have started to take step to legalise this industry.
so, we can see 10000$ bitcoin before may end again.

It is my analysis only according to my forex and crypto experience.
experts can give their suggestions to bring proper conclusion.

$10000 !! i think this is very unexpected in near future in BTC market price. But sure that market again recover but i think it also will take more time like December if everything goes well. Today also USA and Itely goes 1800 near death by COVID-19. So how we can guess that market will come very soon and $10000?

[xen1oph]

I think nothing good should be expected in the near future. BTC is a currency, but why do you need a currency if you have nothing to buy. I do not pretend to the truth.

[sunsilk]

$3,900 was likely the bottom of the crash and if it maintains at the price of $7,000, we should expect that the small bearish run is done. It's possible that we might see $10,000 again once everything settles after this covid-19 pandemic.

People will start to look for a way to get themselves back in investments and if they happen to see the bottom of bitcoin and sees the current price of it. They will not hesitate to partake the opportunity if they do more research as halving gets closer.

[Cityhunter123]

I think the affected of the coronavirus on crypto is already over, the price has stabilized

[Darker45]

I also think the price will get back to that level before the end of May. There's still so much time for it. That would still be a couple of months from now. Bitcoin has already touched $7,000 several hour ago. We are only at least $3,000 short of $10,000. The price could actually climb to $10,000 within the month. We have been pretty much horizontal for the past days with the price playing in between $6,000 and $6,700. Finally crossing $7,000 should be a good sign for a much higher climb.

[KrisAlex18]

As what we are seeing about the market and cryptocurrency,  this COVID-19 has a negative impact in crypto industry because the price of cruptocurrrency is being dumped since this virus attacks around the world. Before when this virus is not existing the price of the bitcoin ranges for about 10000$, that is the time when I am so happy because I earned money from my investments but when this virus exists the price of the bitcoin starts to fall, it reaches to the lowest price of 3900$ and I think this COVID-19 is one of the responsible why this thing happens.