Possible Effects of Coronavirus on the Crypto Industry

[imons]

Definitely, COVID-19 has a negative impact on every aspect from stock market to oil industry and of course crypto currency as well all has been ruined. It is still unclear what impact the digital asset industry will have on the medium and long term, Now investors are looking more closely at their investments than before. I think this COVID-19 has disappointed us from the bull run...

Like anything else, covid would have a negative impact on the price of crypto in short time but it would be much more beneficial to crypto in the long term as people realize the need of global co-ordination and the disadvantages of both cash and fiat money. This would also soften various political stands regarding crypto regulations.

Moreover, people do realize this now, because the quarantine pushed most of the companies to be able to work remotely.
So the disastrous virus actually expanded comfort zone of many people and businesses so we should be ready for big changes coming in the game very soon.

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[carlisle1]

Another good news is that since the price of many major cryptocurrencies has dropped recently, this is the best time to invest in cryptocurrencies and projects. For instance, you can now buy the Titan coin at a lower price than ever before. And we know the coin will be back with a bang, so you can be assured of huge profits.

at first read all i thought that this is  a concern thread about the effect of Virus but while scrolling down this is what i saw.

another Advertising of selling their Project and nice try,Mind to share if you are ANN thread?
because it seems that you are promoting your project just like this without any form of advertising.

[ballerin and giroud]

Crypto Legalisation


Among other things, the movement to regulate cryptocurrencies is now stronger than ever. With India and Korea taking important measures to not only legalize but encourage crypto trading, it is only a matter of time when we see more countries joining the crypto innovation.

I think no, most countries will be focus on to find some way to reduce the spreading of coronavirus. They will do anything like lockdown and quarantine territory will not focus to accept cryptocurrency for any matter. Also, I only see that if there is country who accept cryptocurrency for trading stuff that is doesn't mean the price of them will increase rapidly. It will just give an affect for the price more volatile then now, unless if there is a regulation for some countries choose cryptocurrency as payment system then I think it will give good effect for the price up.

[Byakuga]

The crypto drop is not 'little drop' like OP called it, whopping 3200$ is gone from Bitcoin last uptrending value, the pandemic affects crypto very badly, now that Bitcoin halving is coming Bitcoin price should be rising if not for the virus

[litepool.ru]

You are right Coronovirus has affected all the fiat industries and all the stock markets has crashed and the oil prices become lowest in history of Oil industry but Bitcoin remained at stable position and this is a good sign for digital currency.

I agree with you, Corona has caused the stock market and many other industries collapsed. But the crypto market is still stable and growing, which is a great signal because people are gradually believing in bitcoin and this market. They consider bitcoin a good asset and hold it

[thiscomm]

everything you say is true. all of the forecasts that we thought would occur when the corona pandemia continues. but we need to know even though prices continue to fall on the market list, it turns out there is a benefit gained by a crypto in the middle of this epidemic. This virus has caused the StableCoin to rise and appear on the surface in the crypto industry. one example of the more USDT we encounter at any exchanger. because when conditions like this many people think to save their assets in stable format to reduce losses during this pandemic. Indirectly, purchases also rise and their popularity makes them appear on the surface and many are listed on the exchange.

[mikeauerbach]

As I could understand from your post the only good news for cryptocurrencies now is the possibility to buy coins at lower prices. How can people afford to spend money on high-risk investments when the economy is crashing?

[lixer]

People are forgetting the fact that EVERYTHING got affected so it is not a wonder that bitcoin had a bad response to it as well. Why would anyone think that bitcoin is beyond all other investments that it wouldn't be affected by a pandemic nevertheless, I would understand if it was like a crays or a bubble burst or something but at the same time we are talking about a thing where it keeps people at home and scared, so I think bitcoin is not untouchable in a situation like this.

Maybe if we give it some time it will recover faster than all others, that way we can say that we are not untouchable but at least we are doing quite fine compared to other stuff as well. Being the fastest growing is usually more important than "not dropping" when everything drops.

[jostorres]

I love the explanation you have made here, it’s very accurate. When the pandemic broke out earlier, it wasn’t a difficult moment for lots of Businesses and they were looking for ways to adjust and survivethrough this situation. So nobody had investment in mind as of then, even some people had to sell out of panic.

But despite everything that was happening, when I check some exchanges I noticed something and that’s that the buying rate of Bitcoin some cryptocurrencies kept increasing. It seemed as a lot of people saw this as a big opportunity, especially those who didn’t get to buy the assets when they were at a low price, so they had to jump on it now.

A bigger growth is coming, once this Halving is over there is going to be bigger increase.

[asyakashi]

With the current vandemic status all countries implement a policy of working from home. This is good news because everyone can access the internet at home and work at home. and crypto is the biggest part of business using internet media, such as trading, airdrop or mining.

Not just that thing, I guess people will have more opportunity to work at home, and they can get paid not only for crypto, but they can get paid with dollars. We know that the opportunity is not available in the crypto world only, but when you browse the internet, you will see tons you can use to be the way for making money. You can search for the jobs that you are looking for, especially if you have skills in some fields so you will have a chance to get more customer from all countries.

It's nice to make dollars from home, but it's not easy to work at home. Bored and sometimes we have to look for entertainment.
For some people it is very boring at home, but for me this is common and exciting.

[michellee]

With the current vandemic status all countries implement a policy of working from home. This is good news because everyone can access the internet at home and work at home. and crypto is the biggest part of business using internet media, such as trading, airdrop or mining.

Not just that thing, I guess people will have more opportunity to work at home, and they can get paid not only for crypto, but they can get paid with dollars. We know that the opportunity is not available in the crypto world only, but when you browse the internet, you will see tons you can use to be the way for making money. You can search for the jobs that you are looking for, especially if you have skills in some fields so you will have a chance to get more customer from all countries.

It's nice to make dollars from home, but it's not easy to work at home. Bored and sometimes we have to look for entertainment.
For some people it is very boring at home, but for me this is common and exciting.

No, it is not easy because you need to search for the job that suits your skills. When you can found one or two jobs that can make you busy, then that will be a good start to make money from home. That will give a new experience for people who don't have the experience to work from home, and I think they can feel excited to keep that jobs, and they will search for more opportunities from the other client.

[isaac_clarke22]

I don't see India and Korea utilizing cryptos yet as an alternative way of payment but I know that they legalized it already. Too bad that we're still in the middle of the pandemic and we don't have definite time of when would this end, but surely people would start to buy cryptos after this.
Kinda not surprised about the stock market crash, like anyone surely thinks of grabbing their money to buy their needs because they know they can just do freelancing and earn there instead.

[Perfect35]

I don't see India and Korea utilizing cryptos yet as an alternative way of payment but I know that they legalized it already. Too bad that we're still in the middle of the pandemic and we don't have definite time of when would this end, but surely people would start to buy cryptos after this.
Kinda not surprised about the stock market crash, like anyone surely thinks of grabbing their money to buy their needs because they know they can just do freelancing and earn there instead.

Every market is presently affected, however, both crypto and stock have not seen the bottom and i do not think they will, despite the pandemic. The stock market in China is improving, while the general world stock is below where it was when the pandemic was not yet serious.
The cryptocurrency market is still fluctuating and it is not plunging beyond a reasonable doubt because investors are still buying. and traders are actively trading with the little fluctuations.

[Kasabus]

I don't see India and Korea utilizing cryptos yet as an alternative way of payment but I know that they legalized it already. Too bad that we're still in the middle of the pandemic and we don't have definite time of when would this end, but surely people would start to buy cryptos after this.
Kinda not surprised about the stock market crash, like anyone surely thinks of grabbing their money to buy their needs because they know they can just do freelancing and earn there instead.

Atleast cryptos are already exposed with these two big countries so even if they are still not utilizing it, this will be a great start for crypto adoption in the next decade or two. If this pandemic will be over, hopefully we can hear from other countries too more on crypto legalization.

[yohananaomi]

it is not yet clearly seen that the epedemic corona directly impacts crypto, because there is a possibility that it must remain at home, it can actually make more time available so that more time is more focused on crypto. but there are also those who don't want to think about more complicated problems with crypto because they want to be more relaxed because of the fear reaction with this epedemic corona. what is clear is that the world economy is clearly devastated as well as the stock market, maybe those who are accustomed to the stock market can be more comfortable now it's time in crypto because for them crypto can be better.

[ahyadinnn]

It's nice to make dollars from home, but it's not easy to work at home. Bored and sometimes we have to look for entertainment.
For some people it is very boring at home, but for me this is common and exciting.

indeed it is very pleasant working at home we don't have to be outside and work at home is also quite relaxed in my opinion, but many people still do not know about work at home, many people complain because they cannot work due to this virus that is plaguing it, and many people also do not know about what is online business and how

[fortunecrypto]

It's effect is going to be long lasting if we cannot find a cure or vaccine for Corona virus but it's effect is going to stopped if we can read more news about vaccine, right now it's getting worse, as the world condition worsen so do the market, it can only get better once we find a cure for this pandemic, that's the hard truth.

[soramon]

I think the good side for cryptocurrency is people interest to crypto. The problem is so hard to find a real project and it can be influence new investor. At least cryptocurrency gain new people that interest on it. I hope this pandemic will gone soon and every market will recover.

[Wildwest]

I do not care about the situation now although the current is happening corona virus outbreak across the country but the effects on the crypto world do not affect even the current value of Bitcoin and altcoins start to improve and this is something we expect, and the legality of crypto in a country has not been so great that it supports but if it is not a problem then it can still be.

[nreal]

It is not necessarily good for cryptocurrencies, if covid-19 is not prevented soon, countries may apply stricter blockade measures, miners and projects will also be affected.