How Will the current pandemic affect the crypto market?

[KrisAlex18]

I have seen so many topics related to this one, if you want to avoid having redundant topic you may use the search engine at the right top corner, you may search the keywords and you will see all the posts related to the keywords. This will also help you to become more familiar in this forum.

It is affected in the early announcements of different country lockdown, but now it seems improving the price didn't lose a lot. This pandemic not literally affect the market too much unlike in the drop of stock market prices but the users who are into holding crypto that might have no option but to cashout some of what they hold. Many were taking advantage now to buy investment not just in crypto but even in stocks.

But at the some spot, this pandemic virus affects the price of different cryptocurrency because of pulling out some of the assetd of different traders in this cryptoworld and even those investors, they need money to sustain their lives as of this community quarantine where we are not allowed to go outside because of the virus so most of us need to have stock, foods and other things we need for daily lives.

[Asusnumbaone]

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.

Most of the people trying to find extra income or source of income in this pandemic situation because they cannot go to work or go outside because of lockdown. I think they will try to invest into cryptocurrency to earn more money

[tvplus006]

Most of the people trying to find extra income or source of income in this pandemic situation because they cannot go to work or go outside because of lockdown. I think they will try to invest into cryptocurrency to earn more money

I don't think there will be a large influx of new users into the cryptocurrency due to the coronavirus. But those who have previously been familiar with cryptocurrency will be able to spend more time on their favorite activity. For example, I now devote more time to trading, because when I worked in the office, I did not have enough time for this.

[imstillthebest]

Most of the people trying to find extra income or source of income in this pandemic situation because they cannot go to work or go outside because of lockdown. I think they will try to invest into cryptocurrency to earn more money

I don't think there will be a large influx of new users into the cryptocurrency due to the coronavirus. But those who have previously been familiar with cryptocurrency will be able to spend more time on their favorite activity. For example, I now devote more time to trading, because when I worked in the office, I did not have enough time for this.

actually those people that arent familiar with crypto can now find themselves on here because because they can now have enough time to do research plus add in the reasons above  . i agree on on what @asusn  said that people are now investing on crypto because they arent allowed to work or do business outside but there is no major restriction here on crypto  while it can provide profits which is importantly need by people nowadays  . but i like your situation now that you now have more time for your crypto activities

[ashmodeus]

actually those people that arent familiar with crypto can now find themselves on here because because they can now have enough time to do research plus add in the reasons above  . i agree on on what @asusn  said that people are now investing on crypto because they arent allowed to work or do business outside but there is no major restriction here on crypto  while it can provide profits which is importantly need by people nowadays  . but i like your situation now that you now have more time for your crypto activities

it's totally different from what i think about it , for me investing to crypto right now its no more than money game, one thing its a good here is we on btc halving event, if not , i am not sure about bull recently.

[wozzek23]

It’s not going to be anything more than the usual. The pandemic is not going to have any serious effect on the cryptocurrency market, it’s just going to be like it did with the stock market. After everything cools off the cryptocurrency market will still continue to grow and nothing much. You already know that the price of Bitcoin and other cryptocurrencies are now going back up after a short decline earlier this year.

The price has been stable in $8,900 after it moved from $7,000 price. This is going to be for a while and maybe by next month it will take another step to the next price level. Now, we need to watch the bitcoin halving and its consequences to conclude about where this panic of pandemic will end up. The next 30 to 40 days will be more crucial.

[carlisle1]

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.

That is a good sign for those project that had been sleeping for longer time now like some of my past ICO bought tokens but yet they have seems to be sleeping still mate and i am checking them each day trying to find good news.

actually those people that arent familiar with crypto can now find themselves on here because because they can now have enough time to do research plus add in the reasons above  . i agree on on what @asusn  said that people are now investing on crypto because they arent allowed to work or do business outside but there is no major restriction here on crypto  while it can provide profits which is importantly need by people nowadays  . but i like your situation now that you now have more time for your crypto activities

it's totally different from what i think about it , for me investing to crypto right now its no more than money game, one thing its a good here is we on btc halving event, if not , i am not sure about bull recently.

Investing here can be a money game if we can hold the chance longer because the problem with so many and they instead looking for money than the technology .

[AniviaBtc]

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.

That's right crypto market is always active and there's no reason for them to take a break because market moves every time there is a transaction happening. The government should act and do something based on the current state of the economy because by that they can make possible solutions regarding that. There are still development in the projects and technology and it is always updated that's why the crypto market could possibly always active. Regardless of other sectors, I think that agricultural sectors will prevail and grow more because they are the one that are really continuous and actively vulnerable in this pandemic. The government should prioritize the people and the sectors that are heavily affected by this crisis.

[kryptqnick]

It is affected in the early announcements of different country lockdown, but now it seems improving the price didn't lose a lot. This pandemic not literally affect the market too much unlike in the drop of stock market prices but the users who are into holding crypto that might have no option but to cashout some of what they hold. Many were taking advantage now to buy investment not just in crypto but even in stocks.

Luckily, the price is making sense now. Bitcoin is currently at its early March (so pre-lockdown) level of $9k, but this recovery did take nearly two months. At first, Bitcoin was affected badly as the new reality hit all markets hard and there were probably many panic sellers thinking Bitcoin will be affected too. However, as Bitcoin does not require much physical activity that became limited during the quarantine, there was no objective reason for its price to go down. The pandemic might be here for another half a year, but I don't think Bitcoin will get affected much. Not in a negative way anyway.

[btc_angela]

It is affected in the early announcements of different country lockdown, but now it seems improving the price didn't lose a lot. This pandemic not literally affect the market too much unlike in the drop of stock market prices but the users who are into holding crypto that might have no option but to cashout some of what they hold. Many were taking advantage now to buy investment not just in crypto but even in stocks.

Luckily, the price is making sense now. Bitcoin is currently at its early March (so pre-lockdown) level of $9k, but this recovery did take nearly two months. At first, Bitcoin was affected badly as the new reality hit all markets hard and there were probably many panic sellers thinking Bitcoin will be affected too. However, as Bitcoin does not require much physical activity that became limited during the quarantine, there was no objective reason for its price to go down. The pandemic might be here for another half a year, but I don't think Bitcoin will get affected much. Not in a negative way anyway.

I guess we have seen the effect already in March and the whole discussion of bitcoin as a safe haven has been tested. But so far after almost two months, we can say that we have bounce back and passed the test. Panic sellers might have regretted their decision that time to sell because of the scare and the negative news. Yes, the pandemic might stay in the next 8-12 months but we can say that bitcoin proved its resiliency again as we are back to where it was before the Covid-19, around $9k price.

[Salamstar]

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.

I believe that the effect of the coronavirus, which seemed negative at the beginning of the crisis on the cryptocurrencies, turned to a positive effect after the currency rates rebounded and recovered. Thus, the cryptocurrencies joined gold as a safe financial asset in times of economic or political uncertainty even though it witnessed many fluctuations in price .

[Abiky]

Luckily, the price is making sense now. Bitcoin is currently at its early March (so pre-lockdown) level of $9k, but this recovery did take nearly two months. At first, Bitcoin was affected badly as the new reality hit all markets hard and there were probably many panic sellers thinking Bitcoin will be affected too. However, as Bitcoin does not require much physical activity that became limited during the quarantine, there was no objective reason for its price to go down. The pandemic might be here for another half a year, but I don't think Bitcoin will get affected much. Not in a negative way anyway.

I think that the crypto market is immune to the effects of the pandemic in the mainstream world. This is because Bitcoin and other cryptocurrencies are free from the control of central banks and governments worldwide. The world's economy could fail in the long run, but the crypto economy will be as fruitful as ever. Decentralization is what truly matters here, in order to provide a resilient system people can count on regardless of governments' actions worldwide. Trust in the world's financial system will slowly decay, until people will turn themselves back to Gold or Bitcoin as their safe-haven asset in times of need.

While the current COVID-19 pandemic has encouraged most people to sell their crypto holdings in exchange for Fiat, the future is still bright for the crypto industry. Demand will increase for crypto assets on the market like never before as they become scarcer over time (especially Bitcoin and Litecoin). Bitcoin's deflationary model, tells us that it should become more valuable in the long term than all the other way around. On the contrary, Fiat will continue to experience inflation as a result of governments printing money in mass to try to "alleviate" the economy. The longer the pandemic takes to disappear, the better it'll be for crypto's adoption in the mainstream world. People are noticing the true benefits of crypto relative to Fiat, leading to a quick price recovery on the market. With or without COVID-19, crypto will be here to stay for a very long time. Just my thoughts

[Genemind]

The majority of people had been laid-off from their job and are struggling to survive each day due to the pandemic. Most people are forced to cash their investment out or even use their savings to survive the pandemic. This might have an indirect effect to the crypto market, but I guess a lot of people had taken advantage of the recent crash when the pandemic kicked-in and grabbed a handful of bag during that time. The market had recovered a few months when the lockdown started. What could happen is really unpredictable.

[Negotiation]

Initially, the COVID-19 epidemic had a devastating effect on the crypto market But now it is going to have a positive effect  COVID-19 can no longer break the crypto market The epidemic is now declining and the crypto industry is improving further. People are leaning towards crypto and the demand for investment is increasing so the price of the currency is rising  At first people didn't understand much Many people sold their cryptocurrencies to overcome the bad situation. But now everyone will invest in crypto from home to overcome this bad situation Therefore the current epidemic will positively affect the crypto market.

[Snappycoco]

This pandemic caused a little change in Bitcoins price due to panic selling and personal usage of fiat. I do believe that this outcome will be resolve once the pandemic is resolved.

[CaVO32]

This pandemic caused a little change in Bitcoins price due to panic selling and personal usage of fiat. I do believe that this outcome will be resolve once the pandemic is resolved.

There’s no panic selling at the moment and fortunately, we are seeing bitcoin on a high peak again despite of the threat from the virus. Looks like the cryptomarket is doing great and business as usual, this is a result of printing more money from different countries, well maybe. Cryptomarket usually goes on a different trend every time there’s a bad news, but right now the market is totally motivated by the bitcoin halving.

bitcoin halving is really the main factor right now why bitcoin is on the rise despite of the ongoing virus crisis. though they have identified potential medicine to cure the infected, still they can't guarantee that it will work in most individuals. it is really interesting how much the bitcoin price will be just before and after the halving. the current trend is very positive because bitcoin is going up in recent days, other alts also follow this kind of trend. crypto users will have positive mindset in this upcoming halving and hopefully it will continue even after this event.

[havoc928]

This pandemic caused a little change in Bitcoins price due to panic selling and personal usage of fiat. I do believe that this outcome will be resolve once the pandemic is resolved.

There’s no panic selling at the moment and fortunately, we are seeing bitcoin on a high peak again despite of the threat from the virus. Looks like the cryptomarket is doing great and business as usual, this is a result of printing more money from different countries, well maybe. Cryptomarket usually goes on a different trend every time there’s a bad news, but right now the market is totally motivated by the bitcoin halving.

bitcoin halving is really the main factor right now why bitcoin is on the rise despite of the ongoing virus crisis. though they have identified potential medicine to cure the infected, still they can't guarantee that it will work in most individuals. it is really interesting how much the bitcoin price will be just before and after the halving. the current trend is very positive because bitcoin is going up in recent days, other alts also follow this kind of trend. crypto users will have positive mindset in this upcoming halving and hopefully it will continue even after this event.

But something is quite strange in the crypto market these days. Only the price of bitcoin increased, the top coins and the alts did not grow. It shows that the fomo is very positive by many people. they only pay attention to bitcoin and constantly talk good about bitcoin halving. I'm just wondering that the whales are no longer pushing the price of bitcoin, it is the people who suffer from the fomo mentality that are pushing the price of bitcoin even higher at this unreasonable time. With this overbought, the market will soon correct this week and many people will be buying bitcoin at high prices. Be careful at the moment, the market is very sensitive.

[iv4n]

If I could place a bet it would be on crypto, fiat is going down. It's my conclusion! This economic model is not sustainable, here on forum we discussed some theories and I remember one thing, next big economy crisis (like the one in 2008) will bring governments and banks down. Little over 10 years and here we are, this will be bigger crisis than previous one, and this time some things will change! Before people had just few choices with their money (gold, bonds, real estates, other precious metals...), but now there is this thing bitcoin with entire crypto community behind and many other coins! It's not just about crypto as currencies, it's about what crypto represents! Be your own bank, do with your money what you want, you don't need third party services to control you and rip off you every time you wish to send some money!
Pandemic is a bad thing, I don't like when people suffer, but this is the chances for people who survive to start doing things in different way. We need to start paying attention on each other, on nature around, not on banks, politics and wars!

[CarnagexD]

If I could place a bet it would be on crypto, fiat is going down. It's my conclusion! This economic model is not sustainable, here on forum we discussed some theories and I remember one thing, next big economy crisis (like the one in 2008) will bring governments and banks down. Little over 10 years and here we are, this will be bigger crisis than previous one, and this time some things will change! Before people had just few choices with their money (gold, bonds, real estates, other precious metals...), but now there is this thing bitcoin with entire crypto community behind and many other coins! It's not just about crypto as currencies, it's about what crypto represents! Be your own bank, do with your money what you want, you don't need third party services to control you and rip off you every time you wish to send some money!
Pandemic is a bad thing, I don't like when people suffer, but this is the chances for people who survive to start doing things in different way. We need to start paying attention on each other, on nature around, not on banks, politics and wars!

The status of the economy of the different country today is still not stable which is a huge problem of them before the outbreak starts the US are one of the largest countries that has a good GDP and next is the other one's but when the virus is spreading most of the countries today are falling down which is not a good thing because it affects a lot to their incomes. Some of the reason why it falls they avoid getting import and export from a different country because they don't want to spread the virus because of the transmission because they don't have enough knowledge how does the virus can transmit next some of the supplies on different places cones into shortage because of the people hoarding a lot of foods, and other supplies needed because they made a lockdown and only restricted one person can only get out on their houses.

By that, the fiat currency is slowly going down because the money came from their country and came from exchange or trading does not circulate properly because the users or the whole cannot spend their funds. IMO we don't need to hold money because it is not important today because life is more important to take care of your self than taking care of your money.

[Jorge158]

There world economy has been on recession because of the COVID-19 pandemic. Many people have been laid off because comapnies, business and other works are not operating amidst the pandemic, however, cryptocurrency and the market has showed great resistance and still sailing through successfully. I don't know how the pandemic is affecting the crypto market, either positive or negative because the market had other factors like Bitcoin Halving along the way.