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

[Eugenar]

Well obviously if you are obeserving the market and the price of different cryptocurrency then you would say that this COVID-19 really affects the crypto industry and even the real life system is also being affected by the virus,  even we know that cryptocurrency is decentralized it is still included as being affected by the virus. There are so many people, investors, traders, players who get affected by this pandemic virus which results them to pulll out their money and converted it into fiat currency to have money that they can use to buy foods that theu will need to survive from crisis.

[Lorence.xD]

Obviously this COVID-19 has a negative effects on the crypto industry, the price of different cryptocurrency goes down when this virus exists in different countries, if you are a person who is always observing the market then for sure you may say that this virus has negative effects on crypto.

But luckily, even the virus is still existing in different countries the price of bitcoin remains to 6,000$ and as of now it reaches 6.9k USD, that is still a big amount of money.

[LogitechMouse]

Its already obvious that the virus brought the crypto market down and not just crypto market but even the global stock market and the economy of the countries who are already affected by the virus EXCEPT CHINA!!!!!!!!.

For others/newbie investors, this down of the market may be a negative thing for them but for some of the investors out there this situation that happened to the market is a positive for him because it is the great time to accumulate more Bitcoin only if they have spare cash to use to buy on it.

The price of Bitcoin is slowly increasing after the big down of it that went its price to near $4000 price. As the halving comes near, I'm expecting that it will rise slowly but not expecting too much from it.

[XCANA]

It's unfortunate seeing the market dwindling down from the time the pandemic was made opened by WHO. This has affected the general market and not only that of the cryptocurrency market, the  stock market was also hit strong and still suffering from the ravaging pandemic.

For me, the cryptocurrency market has been the one growing in the face of this pandemic because the bullish was seen and would surface in due time. So, in general there's an increase in cryptocurrency. For Bitcoin to  raise from $3900 to the current amount of $7000 is a plus for the cryptocurrency market.

[kryptqnick]

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.

Yeah, so far we've seen a big decrease. However, Bitcoin went down from around $8k to $5k within a day, basically, but the trend did not continue. Moreover, after a week below $6k, Bitcoin managed to conquer this price and stabilize within the $6k-$6800 limits which is quite a fast and significant recovery. Since COVID-19 is probably going to be the #1 concern for months to come, the general tendency is unclear yet, and Bitcoin might go up. Not to mention that halving is getting closer, and many expect it to have its own positive impact. I guess we'll just have to wait and see because it does not seem possible to make an educated guess today.

[romero121]

The year was expected big by people around the globe in terms of economic uplifting. The same is with the crypto market, but everything has happened in the opposite way with the corona virus. As there is complete lockdown throughout the world the consumer and the production industry has limited resources and very few sectors are functional to help people all around.

Until now there isn't big impact felt over the cryptocurrency market in accordance to the corona virus effect. Hope things will get better with time, and the recovery time can't be calculated based on the present situation prevailing around.

[camito]

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.

Basically, because of the pandemic, the government is forced to declare lockdown to contain the virus. This has slowed down business transactions, market rise, transportation, movement, and have made families and people scared and doubtful. Now, most crypto user are also businessmen. So consequently, transactions here in the crypto industry slowed down also because people are also panicking whether to sell, buy, or hold. We can just be sure that crypto transactions would boom again once the virus ended, and when people become more confident again on their transactions.

[Gladiator25]

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.

From your statement, we can see that corona virus gives a negativr effect on the digital market. Though some of the transaction are being made online, but there are still transaction like converting bitcoin to fiat. Also I think that when this corona virus stops and get cured, the change in digital market will also be changed.

[Reatim]

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.

meaning you are referring to Halving since there is a mentioning about May?

anyone can give their own opinion and analyzation because this is a volatile market and it can be wrong in some chances it can be right .

the thing is before we speculate something like this much better if we are also investor here,because if not we are not helping at any point in market so we have no rights to even tell whats the future of the market.

[maydna]

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.

From your statement, we can see that corona virus gives a negativr effect on the digital market. Though some of the transaction are being made online, but there are still transaction like converting bitcoin to fiat. Also I think that when this corona virus stops and get cured, the change in digital market will also be changed.

Not just the digital market that will change, but everything in the real-life will also normal again. The stock market crashes because people or traders are panic and worry, and they want to save their assets and money by panic selling so they can have money. But everything will be fine, and right now, we need to keep survive from the worst situations, and we should take care of our health first. The Coronavirus impact all things in all country, and many people die but that will not happens forever because someday, the people will all get cured. 

[madhavsinghrajput]

There is never a doubt that a pandemic has affected every market globally in a negative manner.It has brought never seen before financial crisis.Many People are facing challenges to even have a meal for one time.I don't think in such a chaos people will think of investing.The markets are uncertain be it crypto market or stock market.And possibility of people investing in crypto is even less due to the volatility of the crypto market.Right now people are fearing to investment any money.This can result in further decrease of market.

[coolcoinz]

We weill see a 10k USD bitcoin again, I'm sure of it. The reason for this is constant money printing that governments are utilizing to keep the crisis at bay.
We can be sure that Bitcoin, being a deflationary currency, will go up in value, but we can't be sure when it will happen and how valuable will USD be at that point. You can expect that in a few years a bottle of wine that used to cost you $10 in 2015 will be $15 in 2025. If that same bottle that used to cost you 0.02 BTC in 2015 will cost you 0.002 BTC in 2025, will you be happy or not? You probably won't because it will mean BItcoin is worth just 5000 dollars, but if you understand how inflation works you should be.

[Etsu]

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.

The saying that riches are made during global crisis is true, however it's not for the common people or every investment options. The corona virus since it start has become a pandemic pushing the entire world into global crisis as we see more and more worldly activities being shut down everyday. The plain truth is, people will only have time for investments when their lives are not facing any threat and currently everyone is subjective to this virus and as such the entire world is not currently thriving. My take is if this pandemic continues, we shouldn't see any price surge in cryptocurrency

[smith morgan]

I think good should be..

[fiulpro]

I do think neither increase nor decrease of the prices but rather it would actually make it more famous amongst people.

Corona virus is actually forcing people to look for more alternatives compared to the normal one's since , it have made people more open towards this thinking .

First there were a widespread resistance amongst the masses And now I do think one can agree on one thing , that is " Corona virus is making people more flexible" .

[geegaw]

I do think neither increase nor decrease of the prices but rather it would actually make it more famous amongst people.

Corona virus is actually forcing people to look for more alternatives compared to the normal one's since , it have made people more open towards this thinking .

First there were a widespread resistance amongst the masses And now I do think one can agree on one thing , that is " Corona virus is making people more flexible" .

Indeed, Corona probably does not affect too much about the value of the crypto industry, it only makes the market almost fall into a state of freezing and more slowly in recovery and change when the currency cannot flow too much here, the decline in the Virus period was only a consequence after the bitcoin rise so fast, Corona has no role in this story. However, crypto industry has good luck in this bad situation, people are actually looking for more information about crypto as you say, they fear the currency they hold will lose value, they need a place to invest and store value that can be trusted as crypto

[ethereumhunter]

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.

Every possibility can happen, but we don't have to worry because if we are ready for the worst thing, I guess we can do something base on the current situation. We don't know if bitcoin and altcoin will make another correction, and we also don't know when bitcoin and altcoin will increase, but that time will come to us. People could attract to the crypto world if they see that the stock market crashes and needs a long time to recover. They will search for the other market, and somehow, they will come to the crypto. I am sure that when many of them coming to the crypto, the process of adoption will grow, we will see a rise of crypto again.

[Ridwan Fauzi]

I hope that will be happened, since the crypto currency prices are still have a chance to increase more than their prices right now. I just weird as well, when this pandemic is spreading to all countries on this world and my broke their economic situation but crypto currency prices are still in a good trend. Bitcoin price as an example, its price has increased in yesterday for almost $500 and now its price is stable which I think many people there maybe have came to crypto and they are trying to safe their money. So as I have a prediction that this situation or pandemic coronavirus isn't give a bad thing for crypto currency.

[Gozie51]

I will say that at the moment, it is causing a decrease but at the long run, no bull will be traced to it because it will not matter again when it dies down and also, it won't look like it had an effect to the business. It shouldn't have positive effect because it is not part of crypto business.

[rexxarofmoknathal]

The year was expected big by people around the globe in terms of economic uplifting. The same is with the crypto market, but everything has happened in the opposite way with the corona virus. As there is complete lockdown throughout the world the consumer and the production industry has limited resources and very few sectors are functional to help people all around.

Until now there isn't big impact felt over the cryptocurrency market in accordance to the corona virus effect. Hope things will get better with time, and the recovery time can't be calculated based on the present situation prevailing around.

Yh, there could be said that the entire world is seeing an economic crisis right now with all the lockdown cities across the Globe. Some industries though will prevail and those will be the ones where physically presence isn't necessary and remote working would be similarly productive. In anyway, it seems that the crypto market is holding up much better than the rest of the current fiat system and this would be a good moment to look for alternatives and realise crypto is one of them.