How Will the current pandemic affect the crypto market?

[repear7]

As I've seen so far, Altcoins doesn't looks like they are being affected by this pandemic going on..

In February, when the virus began to spread out of china, BTC was 10000+ and within that month and March, the price got approximately divided by two.

Many traders are on loss and some are still under water till date. But what's is the current situation, I see many new developments and improvements in Altcoins so far and If this could continue like this, The current world economy situation or current pandemic isn't gonna affect crypto market negatively.

Also major cryptocurrency exchanges are not being affected by this current pandemic according to users signing up and trading Volumes
source  : https://cointelegraph.com/news/coronavirus-pandemic-is-reshaping-blockchain-companies-roadmaps/
Check the Exchanges paragraph.

So, it's like most lockdowns are making people go into trading and bringing more users to cryptocurrency trading.
Do anyone think the Coronavirus will reshape the cryptocurrency economy or blockchain industry positively?
I will also like to see more explanations if there is.

Everyone is trying to get out of this condition where they must stay at home while they must continue to meet their requirements. One option is to enter the digital currency market for profit by exchanging so that as has happened up to now the exchange volume will generally rise and the price of altcoin has increased

[bitgolden]

It may not really be big enough to reshape the worlds economy right now, but we can't say it has zero chance to reshape neither, it just isn't right now but it may in the future. We are focusing too much on the market cap and too much on the trading potential of bitcoin for the people, however the reality is bitcoin is a currency itself and it could exchange hands very easily and very cheaply.

So, if the world starts realizing that bitcoin could be transferred from one nation to another in 20 minutes for under 1 dollar cost, they will start to use that a lot more. If people start doing that, it will reshape the economy in some way, sure not the way we think, not the way that will make bitcoin 100k or whatever, but it is still a way that it could reshape it by just being a payment processor type of thing.

[BuNga_cute]

Corona virus only gives effect around March, now in April crypto market is more stable. Even for a few days now crypto market shows
a positive movement, almost all coins have increased. So in my opinion the crypto market is not affected by the spread of the corona
virus. Because many people have begun to realize that cryptocurrency is a safe haven.

[pragna]

Yes, if we see the current market graph we easily say that nCOVID-19 did not affected so many. At primary stage it affected to market as people was scar about their life and now in this crisis moment of fiat money i think people are looking for alternative money so that they focused on crypto market and market again moving up. Even i am also doing short trade from home and i think like me another also promoting market from home.

So no upset for crypto market and stay connected with it always.

[Chrystora123]

Second, there may be hopes that COVID-19 could lead to a long-term boom in digital/online payments. If Bitcoiners behave intelligently and they manage at least to keep their share (which is extremely small, still) in the digital payments market, then this should lead also to a significant increase in Bitcoin adoption "as a currency". So it would be strategically important to reforce the efforts for payment solutions, like LN (I hope Electrum 4 with LN support becomes stable soon).

Since health experts announce that banknotes can be one of the "carriers" of the Sars-Cov-2 virus, digital payments must be immediately adopted in bulk.  every day billions of people transact with banknotes and that means billions of people potentially infected or re-infected (for patients cured) by this virus.  I am optimistic that cryptocurrencies (especially Stable Coins) will be widely adopted and become legal tender in the next few decades, opportunities like this should be used by us (crypto players).  the world has changed since this "PANDEMIC"

[Eternad]

Corona virus only gives effect around March, now in April crypto market is more stable. Even for a few days now crypto market shows
a positive movement, almost all coins have increased. So in my opinion the crypto market is not affected by the spread of the corona
virus. Because many people have begun to realize that cryptocurrency is a safe haven.

Since March is the start where almost all countries see the need to do lockdown or take moves to eliminate covid, many use their Investment to transfer into cash as at time of pandemic what we will be more needing is to have cash and it's a safe haven to eliminate risk of too much fall of price since vaccines weren't available yet. Now that countries have their solutions or find ways to continue operating the market seems to be stable now.

[bearexin]

it's like most lockdowns are making people go into trading and bringing more users to cryptocurrency trading.
Do anyone think the Coronavirus will reshape the cryptocurrency economy or blockchain industry positively?
I will also like to see more explanations if there is.

That’s not true, altcoins were also affected by the pandemic and they also decreased in price when Bitcoin decreased. But the good thing is that they are now recovering and increasing in price. Bitcoin has been steadily going up and after spending a long time in the $6,000 price range, the price moved to $7,000 and continued moving from there to the current $7,600 plus.

It’s not going to end there, the price will keep moving up for sure. Although I’m worried that the cases of the coronavirus are increasing daily, despite the lockdown in most countries. I don’t know how it’s going to be in the future, but I hope the halving impacts positively in the market.

[shield132]

As for now we can proudly say that bitcoin handles current situation very well and it didn't affect much. Even if we April's statistics, there wasn't any significant drop or rise in price, it was stable between 6700-7300 USD. But still it's hard to summarize this task. Economic crisis will become more severe in upcoming months and if it happen like most part of people are left without money and they'll have to sell bitcoins, then I think there will be really huge crash in price but situation is still curious cause we don't know what will happen after halving (though halving is the least thing people think about right now).

[$crypto$]

-snip-

That is what currently hats a lot of discussion about the co-19 pandemic because it is indeed shaking the world again especially in the global economy.

I can not understand how this corona virus does not exist maybe bitcoin has been high at the moment and a few weeks before halving will certainly be awaited by many investors and lovers.

But all that changed when the virus came from China and had an impact almost throughout the country and caused the global economy to plummet in stocks and crypto.

Of course this is very sad where we can not avoid this pandemic because it is difficult to overcome viruses such as and there is still much speculation that continues to emerge about the corona virus, I am rather confident that this pandemic will be quite a long time.

The increase in bitcoin recently is certainly in the increasing demand in the market because soon we will halving it might be their hope to benefit from bitcoin in the midst of the co-19 pandemic.

[Botnake]

The market is totally not affected anymore, we can tell by its movement in the past 1 month.
We did see a dump from the start, but that was it, probably it's the last time we will see a dip this month because despite the world is still on pandemic, bitcoin remains bullish right now, of course we are not expecting it but it again prove us to be wrong, it seems like it will be bullish going to the halving.

it's a good news for everyone, at least we will not anymore panic now.

[Oasisman]

Once again folks! Bitcoin and cryptocurrency aren't heavily affected by the pandemic. The recent huge drop wasn't caused by the pandemic alone, It was the plustoken scam that took place months ago that comes along with the WHO declaring covid-19 as a pandemic. Sure that gives a lot of people the feeling of confusion and we all fall to believe that the pandemic causes such huge crash, but It isn't after the news came out about the plustoken.
Currently, the price movements got to show us that cryptocurrency aint heavily affected by the covid-19.

[Kasabus]

The market is totally not affected anymore, we can tell by its movement in the past 1 month.
We did see a dump from the start, but that was it, probably it's the last time we will see a dip this month because despite the world is still on pandemic, bitcoin remains bullish right now, of course we are not expecting it but it again prove us to be wrong, it seems like it will be bullish going to the halving.

it's a good news for everyone, at least we will not anymore panic now.

Hopefully this will continue until bitcoin halving finally come. A lot of businesses have been affected with this current pandemic but with crypto market, i think it's not affected that much. We can still see signs of bullish season and knowing that bitcoin halving is expecting this may, it will make the crypto market price even higher.

[Serco]

The market is totally not affected anymore, we can tell by its movement in the past 1 month.
We did see a dump from the start, but that was it, probably it's the last time we will see a dip this month because despite the world is still on pandemic, bitcoin remains bullish right now, of course we are not expecting it but it again prove us to be wrong, it seems like it will be bullish going to the halving.

it's a good news for everyone, at least we will not anymore panic now.

Hopefully this will continue until bitcoin halving finally come. A lot of businesses have been affected with this current pandemic but with crypto market, i think it's not affected that much. We can still see signs of bullish season and knowing that bitcoin halving is expecting this may, it will make the crypto market price even higher.

before bullish trend set , i am hope price will decline first. so market will have more power to set new high price again while investors rebuying on correction. if price still rise till halving, i am doubt giant traders will buy , they prefer to wait cheap price. and negative effect from covid 19 looks like smoothly gone from crypto market.

[Latviand]

The crypto market works 24/7 and 365 days a year, and it is also a market that does not have to leave home to work, it is digital money.
Despite the current crisis, the prices of cryptocurrencies have not failed, the Community has responded positively in these difficult times allowing the growth of the ecosystem to continue.

It may not be at the planned rate, but startups and current projects have not stopped.
The sector that will grow is that of finance because it has shown that it needs to be updated according to current technological advances. We will also see more projects focused on health and charity.

I think this pandemic will really make a way for the digital transactions to become more useful and recognize by the community. I know that stock market will crash but the government should make way for that to recover although there is a pandemic. Government should also prioritize the market because it is the number. 1 factor to the manipulation of our economy. There are a lot of digital transaction that is happening worldwide with the use of cryptocurrency and fiat currency. Our technology is really advancing most especially people are used to pay bills using their online wallet. Hoping that there are more good things about crypto market that will soon happen because this is what we need, a community where people are open to use cryptocurrency in their transactions.

[andisuk]

The crypto market works 24/7 and 365 days a year, and it is also a market that does not have to leave home to work, it is digital money.
Despite the current crisis, the prices of cryptocurrencies have not failed, the Community has responded positively in these difficult times allowing the growth of the ecosystem to continue.

It may not be at the planned rate, but startups and current projects have not stopped.
The sector that will grow is that of finance because it has shown that it needs to be updated according to current technological advances. We will also see more projects focused on health and charity.

I think this pandemic will really make a way for the digital transactions to become more useful and recognize by the community. I know that stock market will crash but the government should make way for that to recover although there is a pandemic. Government should also prioritize the market because it is the number. 1 factor to the manipulation of our economy. There are a lot of digital transaction that is happening worldwide with the use of cryptocurrency and fiat currency. Our technology is really advancing most especially people are used to pay bills using their online wallet. Hoping that there are more good things about crypto market that will soon happen because this is what we need, a community where people are open to use cryptocurrency in their transactions.

the current crisis conditions are indeed making cryptocurrency more well-known to many people but for people directly into cryptocurrency now-of course there are also many who think because of the needs of fiat now too many so the possibility of entering into crypto is still not too although there may be opportunities as well

[Leonardo7]

The pandemic as we see is positively affecting the market, we were told the flash crash was due to the pandemic butbjt quickly recovered and has been on the upward movement.  It appears people are turning to crypto trading as recession calls and mass sack looms.

[Averim]

This pandemic situation is a good oportunity for all the health related projects in blockhain, this is a good moment to rise and give a hand in eradicating this pandemic virus.This pandemic situation is a good opportunity for all the health related projects in blockchain, this is a good moment to rise and give a hand in eradicating this pandemic virus.

[abhiseshakana]

The pandemic as we see is positively affecting the market, we were told the flash crash was due to the pandemic butbjt quickly recovered and has been on the upward movement.  It appears people are turning to crypto trading as recession calls and mass sack looms.

The coronavirus pandemic affected almost all investment instruments. However, this condition can be a golden opportunity for investors to hunt for various investments given the low price.

Unlike the stock portfolio, which requires a long time for recovery, bitcoin is weakening but the next day immediately strengthened. Seeing the pattern of bitcoin price movements during the pandemic, many parties have the belief that bitcoin is an investment asset that is relied on in the midst of a crisis. Pandemic indeed affects the adoption of bitcoin in the short and medium-term but not for the long-term.

The decline in the value of bitcoin is lower than other assets, and the decline also occurs when approaching the value at which a price correction is expected. Unlike gold, it takes longer to see the impact of a pandemic on bitcoin, whether its immunity is like gold in the face of a crisis. Gold during the financial crisis, its value decreased greatly, but its value recovered in a very short time.

Not everyone experiences losses due to a pandemic, if you see that the market remains open, it means that the crypto trader is still active and enjoys profits. This is proof that bitcoin is still a favorite asset.

[Snappycoco]

This pandemic affects all businesses not just crypto. Some business booms ie. (Pharmaceutical Industries, PPE's manufacturers) but most likely others where down. Meanwhile cryptocurrency in the other hand cryptocurrency is quite unique it would recover as fast as possible. Just like old times.

[YOSHIE]

The effect and influence on the crypto market at this time would certainly be there if linked to the current pandemic COVID-19 plague that is sweeping across the world.

As seen today all sectors of the economy are stuck, not only in the crypto market other things also happen to markets outside the crypto, Rounds of money are very minimal than expected, for example investment, trade, for now there has not been a good result since the covid-19 pandemic was put in place.
There is nothing to do but pray and hope that the crypto economy and outside crypto, markets, etc., in the future can be as good and normal as they once were.