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

[Oceat]

Well, we have seen some results already and I think it will going to continue like this. Due to the lockdown some businesses are closing already isn't it enough to know that most of the economy will go down because there are no people that would help them to grow their business during this time. In crypto market I think it was all the same since people are exchanging crypto to fiat in order to gain some money to support their daily needs.

[nosferzd]

As a result, most likely, the crypto industry will grow. After the crisis of covid-19, many will have to withdraw their assets in BTC, so the market will sag a little, and then growth will go. After all, people are experiencing past experiences in this crisis, it is a relic of the past and it is more profitable to use cryptocurrencies. Many countries already have BTC ATMs, this is an indicator of growth in the crypto industry

[XCANA]

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.

You're right, the effect will be forgotten when the market has been fully recover which will be eminent in due time from now. Although there are many downtrends of the general market even in the stock market, so, this is not just an issue of cryptocurrency but both sectors.

This happenings of the current pandemic will soon be the thing of the past and Bitcoin among all other cryptocurrency will shoot up again. More over, the effect of this coronavirus will surely yields a positive effect on the cryptocurrency market.

[Oasisman]

After the crisis of covid-19, many will have to withdraw their assets in BTC

Nope, I don't think that will most likely to happen. Crypto enthusiast knows that there is an important event that's about to come and will possibly initiate a bull run. People are still very optimistic about the effect of block halving and that explains why Bitcoin didn't fall deeper than the $4,000 bottom. While the global economy is down, cryptocurrency didn't seem to be affected by a great number and currently doing well these days.
So, If you're a smart investor, don't withdraw anything until you hit the target.

[bearexin]

I don't even wish for this pandemic to continue till May or June, I'm hoping that the problem gets solved and everything gets back to normal and everyone starts living their best life. My neighbors can't even stand this lockdown, people keeps questioning how they are going to survive this lockdown, how they are going to get food to eat and more, it's not easy.

Before the lockdown those who are well to do got their stores stuffed with all kinds of foodstuffs that would last them for as long as the lockdown would stay, but what about those that doesn't even have money to buy anything at all? Those people are going to die in hunger, sadly. So, there should be a decrease in most people's economy.

[bitcrypboy]

Well, we have seen some results already and I think it will going to continue like this. Due to the lockdown some businesses are closing already isn't it enough to know that most of the economy will go down because there are no people that would help them to grow their business during this time. In crypto market I think it was all the same since people are exchanging crypto to fiat in order to gain some money to support their daily needs.

I think due to coronavirus, it won't impact on crypto industry that much, crypto industry will may suffer very little damage but they will recover it, because it is totally online base currency. so, we cannot compare it with the stock market. stock market and crypto industry are completely different. so, I think that it may have little loss but it will not have much effect on us.

You are wrong, we haven't yet reached a peak in many countries even USA.

And the economic impact will last longer then the virus, for a long time there will be less money going into crypto until the day that the economy will recover again in 1 or 2 years.

So in 2022 Bitcoin might go higher then 10.000 if it doesn't go much lower now.

[Meowth05]

There will definitely be a decrease because there will be a lot of people who will be pulling out their holdings and it will cause for plummet and I think that is an oppurtunity to buy when the price is low.

[sayam]

Due to corona virus effect already the crypto market has made a very bad impression and the market is in a very bad shape. I think in coming days we will face more difficult times. Now the market is getting a little tight but if Corona virus is not eliminated from us, then crypto industry will be in more trouble.

[denzkilim]

Well, we have seen some results already and I think it will going to continue like this. Due to the lockdown some businesses are closing already isn't it enough to know that most of the economy will go down because there are no people that would help them to grow their business during this time. In crypto market I think it was all the same since people are exchanging crypto to fiat in order to gain some money to support their daily needs.

I don't think that way because Crypto Currency is far way more different than the current we are using in the real world and at times like this with the Coronavirus pandemic that is spreading worldwide, Using Crypto Currency has a lot of advantage right now compared to its rival assets like paper money and gold. Those real believers of Crypto Currency will surely hold their assets at times like this because they know that it will worth more in the future.

[Youghoor]

So far I think it's a decrease we have seen much of. The spread of the virus have had many countries calling for lockdown and this has slowed the economic production rate hence reducing the amount of money people would be investing in cryptocurrencies. Most people are now saving the little they have for worst conditions if things don't get better.

[panganib999]

If we will observe and see the price charts of the cryptocurrencies this past weeks ever since the coronavirus pandemic have started, we will see that the crypto industry is also affected by the spread of the news because the prices of the cryptocurrencies even the top ranks like Bitcoin have experienced a downfall on its price which means that the situation have a negative effect not just on the health sector but as well into the economic and finance sector because stock markets and cryptocurrency market is being affected by this. So far up to this very moment of time, we don't know what will be the price behavior of the cryptocurrencies if it will go up or down by the end of this month which signifies also the upcoming halving if the prices will be going fine or will still continue to get into the bottom. We just need to hope for the best things to come with regards to the cure for this virus as well as for the normal pricing in the stock market and cryptocurrency market.

[bitcoinst]

as long as there are the issue of corona virus pandemic we cant stop the decreasing in crypto industry because some of us is still in our house. and the other is withdrawing ther fund to buy they need.

The main question is which layer of the solvent population has the greatest impact on the weight of bitcoin?
It seems to me that the market is nevertheless controlled by forces that have a truly significant amount of funds, forces for which such a crisis is only an opportunity to expand influence, and not a factor limiting their activity.

[btc78]

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.

Actually it is not the Corona why the market is broke now but it is the People that Got panic when they heard about the news.

Though this is in some sort the effect but still it is our way as investors here on how we can help the market.
i did consider withdrawing but only the amount my family might be needing and not the whole Folio of mint.

[TIDOVEE]

It is human being that are miners, trader, Incharge of most control on crypto currency and whatever happens to them happens to their effect. The Corona Virus affected the world at large and only few of it's effects on general economy are positive. This would affect cryptocurrency industry too but since the problem does not shut down the internet. It will be minimal and recovered soon. Especially after the halving 

[online73]

Hello everybody. Judging by all the news that I watch in the news feed from different countries, the same thing happens - the authorities are trying to do their dirty tricks, hiding behind this virus. There is not a single country where there was a virus, that would not have been a complete failure of the economy. Of course, bitcoin has already entered our consciousness as a certain capital and, as a participant in exchange fraud, it cannot remain aloof from manipulation. The virus - this is just an excuse - it has aggravated relations between world financial clans. Only by uniting can this infection be defeated. And discrepancies and mutual reproaches will lead to even greater human and economic losses. It’s just that in such difficult periods, financial assets become highly susceptible to volatility - Bitcoin is no exception. Of course, I think that bitcoin should collapse, at least up to $ 3,000 and this local growth is a good smoke screen.

[South Park]

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.

And so far that has been only the short term impact, if the lockdown is still in place for months or we move to intermittent lockdowns in which we return to our normal activities for some time only to go back to send everyone home because the virus is spreading too fast the effects in all markets will be even bigger than what we have seen, many do not understand that in order for the price of something to go up more money needs to chase the limited supply available and if people lose their jobs and have bills to pay then they are not going to have money to buy bitcoin and with the demand going down the price will have no option but to go down as well.

[totoy4741]

It has huge impact not only in stock market but in cryptocurrency market as well, as you look back to bitcoins's prior to corona pandemic the price value was playing around $8-9k buy when the pandemic broke out it suddenly went down crashing to 6k. Recently it has gaining a little momentum as the market is stable running back and forth from $6.9-7.2k and we might see some surge when pandemic is over and everything gets back to normal.

[kayvie]

Well, the effect of the corona virus is really huge, it gives a huge decrease into the whole crypto market, but I agree with you OP, that we might not see any more corrections deeper than what we previously encounter. Right now the current movement of the market is upward and this could be a good sign that the market is recovering and starting to prepare for the next bull run.

[Yatsan]

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.

And so far that has been only the short term impact, if the lockdown is still in place for months or we move to intermittent lockdowns in which we return to our normal activities for some time only to go back to send everyone home because the virus is spreading too fast the effects in all markets will be even bigger than what we have seen, many do not understand that in order for the price of something to go up more money needs to chase the limited supply available and if people lose their jobs and have bills to pay then they are not going to have money to buy bitcoin and with the demand going down the price will have no option but to go down as well.

But now the price of bitcoin is looking good, still on the good run until the halving. However we have been seeing the researchers concluding that the vaccine might not be available until September this year, that's very unfortunate if that happens, I hope it won't. As for the impact that we have seen, from my own perception and view towards the market, I think we have seen the worst that it could impact to the cryptocurrency market, I mean I believe that the resistance at $6K will be as strong as our hopes for the covid-19 recovery.

[Emitdama]

We have already seen the outcome, the price of Bitcoin decreased and that is the same thing that happened with stock market, but they are all getting back up now. BTC fell to a low of $3k plus and was able to get back up to $7k. The price is at $6.8k as I write; it has been rotating the circle of $6k and $7k and I’m hoping that it breaks the $7k and move to $10k anytime soon.

We already close to May, in a week and few days, and the halving will be taking place. A lot of people has been speculating to take place in the month of May after the Halving, let’s wait till then and see what is next.