Is Covid-19 a cause for BTC price drops?

[PavelMed]

And it seems to me that the rate will grow because now scammers and corrupt officials will launder their money faster and will buy bitcoin to hide their dirty business.

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[FlightyPouch]

Although Halving has come close, it seems that there is no optimistic signal that BTC will rise. Currently Corona Virus is making it difficult for the leading economies in the world. And is that the main cause of Bitcoin price drops? Let me give you some possibilities
1. Unemployed people do not have income so they do not dare to invest in Cryptocurrency.
2. The psychology of fear that if we die by Virus and die, investing in Cryptocurrency will not bring anything when we die
3. In a difficult economy, investors need to withdraw assets and sell cash to maintain businesses such as payroll, purchase and sale of goods instead of investing in cryptocurrencies.
4. The disease has not yet been controlled, the economy has not shown signs of recovery, so investors are afraid of not participating in the Cryptocurrency market.

In my opinion, the pandemic did some negative effects on the price of bitcoin but I don't think that it is the major reason why the price dumped. When the price dumped, there are those that say it is the pandemic, some say that it is because of the bitcoins being moved to the mixer by the scammers. Between those two, I would go with the scammers. Even though stocks are hugely affected by the pandemic, crypto currencies are not the same. IT is not directly affected since the ones that are affected are its users and these users are selling btc since they needed it but the fact that the price is increasing means that those people who sold their btc are not that many.

[meanwords]

I think COVID-19 is the driving force for bitcoin price to pump in the future. Because as you know, this virus can spread through fiat. Governments encourage people to buy goods online and pay with cryptocurrencies. Besides, the Fed is printing a lot of money to help the US economy to avoid an economic crisis. They gave each US citizen $ 2000 per month. Therefore, I think many people will invest that money in the cryptocurrency market, this made  the price of BTC to pump in the future.

How do you know all that will happen? What if people invested in stocks instead of Bitcoin? You can never be sure because cryptocurrency is volatile compared to the traditional stocks that is more popular. Also, Bitcoin is not the only option that people could use to buy online, credit cards and internet wallets are available depending on the country so getting the people to use cryptocurrency even in this times is slim because there's a better and more convenient way.

This is just the reality because cryptocurrency is still not that developed but I do believe that cryptocurrency will be used in most shops online in the future.

Although Halving has come close, it seems that there is no optimistic signal that BTC will rise. Currently Corona Virus is making it difficult for the leading economies in the world. And is that the main cause of Bitcoin price drops? Let me give you some possibilities
1. Unemployed people do not have income so they do not dare to invest in Cryptocurrency.
2. The psychology of fear that if we die by Virus and die, investing in Cryptocurrency will not bring anything when we die
3. In a difficult economy, investors need to withdraw assets and sell cash to maintain businesses such as payroll, purchase and sale of goods instead of investing in cryptocurrencies.
4. The disease has not yet been controlled, the economy has not shown signs of recovery, so investors are afraid of not participating in the Cryptocurrency market.

If you've been up to date in the crypto news, the main reason why Bitcoin price dropped was because of the plustoken scam. They dump Bitcoin so hard that it created fear which analyst speculates it was because of stock market and Coronavirus but the truth is it was the scam that cause the main drop, coronavirus only played a part.

[mdzahed134]

Now mostly people’s are selling their hold assets whose are jobless. Bitcoin is going pretty good, drops is the common scenario in cryptocurrency. And i think corona virus is bullshit cause who guys blaming btc price dropped for current pandemic outbreak. Now all of the countries are facing economical disrepair. How you expect good signs in the economy right now, without recover these condition.                    

[worle1bm]

Although Halving has come close, it seems that there is no optimistic signal that BTC will rise. Currently Corona Virus is making it difficult for the leading economies in the world. And is that the main cause of Bitcoin price drops? Let me give you some possibilities
1. Unemployed people do not have income so they do not dare to invest in Cryptocurrency.
2. The psychology of fear that if we die by Virus and die, investing in Cryptocurrency will not bring anything when we die
3. In a difficult economy, investors need to withdraw assets and sell cash to maintain businesses such as payroll, purchase and sale of goods instead of investing in cryptocurrencies.
4. The disease has not yet been controlled, the economy has not shown signs of recovery, so investors are afraid of not participating in the Cryptocurrency market.

We can blame Covid-19 for the reason behind price drop among btc as this panademic attack has hit the world maeket and economies are crashing very hard.But still the price drops are not much higher what it can be.The main point is not major investments at this time and panic selling by people to match shortage of funds to do neccessary stuff of lives.But some with future foresight have invested at this time also because people have moved towards digital modes of payments these days which give crypto and btc hope for price surge in future.So dont get panic as everything gonna get fine after all this is over and bull run will hit btc so have patience and just HODL.

[Sanitough]

Bitcoin has already recovered from the dump, it was just the an instant reaction that resulted a dump, but that was only cause by the panic, and those who bought at that price are now so lucky to sell almost double of the price they accumulated. Actually, even if bitcoin will end at $7k+, we can still say that 2020 is not a bad year for bitcoin considering we have the pandemic this year.

[Assface16678]

Now mostly people’s are selling their hold assets whose are jobless. Bitcoin is going pretty good, drops is the common scenario in cryptocurrency. And i think corona virus is bullshit cause who guys blaming btc price dropped for current pandemic outbreak. Now all of the countries are facing economical disrepair. How you expect good signs in the economy right now, without recover these condition.                    

Many people think that the cause of the market price of the bitcoin is because of the pandemic outbreak coronavirus and in some instance this not too much because the outbreak really hits the fiat currency most of the transaction from the different country make a temporary canceled and lockdown to avoid getting the virus spreading rapidly, the virus today can now be attached to the things and it is already airborne so they avoid spreading that rapidly.
From the previous years of the bitcoin, we experience on the market price it Is already drop from the last year in the same month of March and to the people who already experience this it is already normal also the one factor affects on it is the halving every four years the halving happens so many people hodl their coins and except for the biggest comeback of the bitcoin on this year of June. So the outbreak does not really affect the price of the bitcoin.

[Yatsan]

Bitcoin has already recovered from the dump, it was just the an instant reaction that resulted a dump, but that was only cause by the panic, and those who bought at that price are now so lucky to sell almost double of the price they accumulated. Actually, even if bitcoin will end at $7k+, we can still say that 2020 is not a bad year for bitcoin considering we have the pandemic this year.

Also remember that the halving is near so bitcoin price will certainly go to the moon! If you are gonna look at the chart and check some history, bitcoin price is getting pump after the halving and I am sure that this is going to happen in this halving considering that, we are already seeing it's movement and it's going to to the moon! So it's really go decision to buy more bitcoin now and see the price to go up 

[Ridwan Fauzi]

Bitcoin has already recovered from the dump, it was just the an instant reaction that resulted a dump, but that was only cause by the panic, and those who bought at that price are now so lucky to sell almost double of the price they accumulated. Actually, even if bitcoin will end at $7k+, we can still say that 2020 is not a bad year for bitcoin considering we have the pandemic this year.

Yeah it wasn't bad right? Bitcoin has increased almost $700 in a few hours and it will continue. But for the price back to drop is still widely open, as you may know bitcoin price is increasing against the economic situation all countries. And I still doubt that the people is convince that bitcoin is the right place to store money when the crisis come. So it will have a chance for them to sell bitcoin and make the price drop again. But in other hand we have halving event that can force the price bitcoin up, if we see on the history halving event always gives the price drastically increase.

[BitcoinsGreat]

Although Halving has come close, it seems that there is no optimistic signal that BTC will rise. Currently Corona Virus is making it difficult for the leading economies in the world. And is that the main cause of Bitcoin price drops? Let me give you some possibilities
1. Unemployed people do not have income so they do not dare to invest in Cryptocurrency.
2. The psychology of fear that if we die by Virus and die, investing in Cryptocurrency will not bring anything when we die
3. In a difficult economy, investors need to withdraw assets and sell cash to maintain businesses such as payroll, purchase and sale of goods instead of investing in cryptocurrencies.
4. The disease has not yet been controlled, the economy has not shown signs of recovery, so investors are afraid of not participating in the Cryptocurrency market.

Yesterday we received a positive signal from BTC which suggests a rise in the price after halving. The price will rise as after each halving, at the same time we are coming out of this crisis situation COVID-19. We are also coming out from this crisis

Actually, the price in € crash the 8th or 10th march if i remember, since then the price of BTC just rise again from 3.900 aprox to 6900€ today

There was a slight dump in the price but now the price is again rising. If i remember correctly, when the covid-19 panic started, the bitcoin price was near 7200$. It moved down to 6900$ but it is now even more higher these days, 7511$ to be precise. I would say that bitcoin stood strong in all these times.

[blockman]

Bitcoin has already recovered from the dump, it was just the an instant reaction that resulted a dump, but that was only cause by the panic, and those who bought at that price are now so lucky to sell almost double of the price they accumulated.

Panic of everyone who's been in a bad situation being in the midst of lockdowns. Selling at the same time made bitcoin price tanked but nothing to worry with that because bitcoin has always been quick in recovery.

Actually, even if bitcoin will end at $7k+, we can still say that 2020 is not a bad year for bitcoin considering we have the pandemic this year.

We're on the 2nd quarter so more to come for this year and it's inappropriate to have a verdict that this year is good enough or not.

[ice18]

This pandemic brings to every country in bad fate and every investments/assets are all in a huge decline since beginning of March millions lost jobs, and thousands have dead already even the bitcoin halving are coming I dont see the price will continue to rise due to this event but if no pandemic Im really sure price of btc is skyrocketing now but unfortunately this is not happening due to this plague and this will not change unless vaccine is already here.

[Twentyonepaylots]

This pandemic brings to every country in bad fate and every investments/assets are all in a huge decline since beginning of March millions lost jobs, and thousands have dead already even the bitcoin halving are coming I dont see the price will continue to rise due to this event but if no pandemic Im really sure price of btc is skyrocketing now but unfortunately this is not happening due to this plague and this will not change unless vaccine is already here.

Pandemic is anyone's problem right now, any market like stock or oil or crypto, it does not matter since what runs these market is the people and the people is afraid of losing so they are pulling out however with the crypto market that we have, we already resisted at a certain price unlike stock and oil that reaches the bottom rock ( although it does not affect the oil industry that much). Halving is coming near, I'm quite doubtful with it since we have a huge problem, global problem so I'll be 50/50 over the rise of the price of the bitcoin this year's halving. But who knows? Market have shown some spikes.

[verita1]

Due to the danger that Covid19 represents, it has caused the drops in the price of Bitcoin and the entire economy. We are trying to survive, as long as there is no cure the damages cannot be calculated with precision. We know that the economy is in decline and we need to join forces to move it forward.

[pixie85]

And it seems to me that the rate will grow because now scammers and corrupt officials will launder their money faster and will buy bitcoin to hide their dirty business.

You're like those clueless mainstream journalists who think all money launderers are doing it with Bitcoin and there's nothing else it can be used for but illegal activities.

What are you even doing on a Bitcoin forum? Come down to earth please. 99% of money laundering is done with fiat with shell companies. Bitcoin is not completely anonymous and easy to trace.

[STT]

Dollar is a far larger market, not recorded on a public register like BTC is and overall a far better cover for any untraceable payments.   Governments prefer digital payments for easier tracking of FIAT but theres plenty of paper available still.

it has caused the drops in the price of Bitcoin and the entire economy.

Im not sure thats the case for online transactions really, I'm still buying the stuff I used with crypto same as always because its digital anyway   What we're really referring to is deflation or contraction in monetary velocity as less business is done the economic base would contract.   Because FIAT is a fractional reserve currency, contraction is deleveraging which raises the worth of the currency.
  BTC isnt fractional, all the units circulated are moved whole from address to address between people so this kind of unwinding is not the same, the two monetary types probably have different dynamics to them.    I see a large amount of new cash introduced to most major currencies, I dont think there is going to be less units in circulation.   Value could fall, that'd match inflation and quite possibly BTC appears as a ratio higher price.

[tukagero]

I agree that covid -19 destroy the worlds economy,,even crypto suffered from price drops, but i think as the world is slowly healing ,btc price will also recover as the day passes.

[Sanitough]

I agree that covid -19 destroy the worlds economy,,even crypto suffered from price drops, but i think as the world is slowly healing ,btc price will also recover as the day passes.

The world is affected a lot, traditional investments like stocks suffered a lot but crypto did suffer in just a very short time and now it's recovering, this makes us think that crypto is not fully correlated with stocks because crypto is quite healthy now.

[Lasky366]

Hmm Covid-19 is very much reason to falling bitcoin price. Eventually not only bitcoin but also others majors currency price also dropped because of Covid-19.It actually destroyed all investment & investors. Stock exchange also affected by Covid-19.So overall as you said Covid-19 is the main reason to drop of markets.

[michellee]

Hmm Covid-19 is very much reason to falling bitcoin price. Eventually not only bitcoin but also others majors currency price also dropped because of Covid-19.It actually destroyed all investment & investors. Stock exchange also affected by Covid-19.So overall as you said Covid-19 is the main reason to drop of markets.

Although it is true, the crypto has already risen for a small price. I think the drops are because people panic selling their assets, so that makes the market chaos, and that cause the crypto market getting the impact too. But we don't have to worry because everything will be normal again. It is the best time to buy more because the price is not too high.