How corona virus affect on the Crypto world?

[Crazyworld]

I believe in Bitcoin in the long run, but when I heard about the unemployment rate because of Coronavirus increasing every week, I feel worried. How it will affect the crypto world?

Update 2020.04.29:
I do not reply to each member for this discussion because it can make the topic nonsense with my comment. Instead of that, I will summarize here:
Thanks for all the responses.
In general, some people worry about the job, lack of money, but most of the comments are positive about the crypto market.

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[bittick]

The coronavirus will force the ordinary person to join in the crypto and start to do what they can do with their money. There was a lot of unemployment that has already joined in the crypto since this pandemic has started to infect the world.

You can take this as an example of how this virus was forcing even the entity to adopt crypto

https://www.tronweekly.com/amidst-corona-chaos-leading-italian-bank-launches-full-fledged-crypto-wallet/

That's how this virus was giving a new demand for crypto but i hope this pandemic will not be so long.

[catacata]

I believe in Bitcoin in the long run, but when heard about the unemployment rate because of Corona virus increasing every week, I feel worried. How it will affect on the crypto world?

Immediately: shock and collapse (people cash out to get prepared for the unknown)
After 1-2 months: it’s now, the news about printing money like crazy is pushing people to look for a safe investment. Bitcoin goes back to its usual price.
In 6 months: the number of investors in gold and crypto will be much more significant, the price will surge
Jan-feb 2021 price stagnant.
April: a rally will start bringing btc to 35k before summer, fall below 30k in summer, and grow again from sept 2021 going to ATH above 40k

[Denreal]

I believe in Bitcoin in the long run, but when heard about the unemployment rate because of Corona virus increasing every week, I feel worried. How it will affect on the crypto world?

It is true that companies are laying off workings, although, government worker are still n active service, despite the lockdown. With the look of things, it will continue to increase. Not everyone has knowledge about on crypto and neither do they know how to invest in it or work to get something to live on through crypto, but those who already know are finding their way in, even if it entails asking someone they know to teach then how to go about it.
This is why the market is moving uptrend, aside the forthcoming bitcoin halving. more investors are now coming to invest in crypto.

[poodle63]

the market capitalization of crypto market is already impacted and decrease significantly due tot his pandemic. if this virus still have no vaccine or cure whatsoever it will be really bad in the long run and same thing goes for stock market. people could also potentially cash out their crypto when their money to buy food runs out so I really hope the cure or vaccine will be invented asap.

[mahilchii]

No Matter where you are on the earth but you will feel the impact of corona virus, well this virus has already bombarded stock markets, tourism, trading, industries etc.

But for me the only thing which escaped from this horrible virus is crypto currency, yes the entire globe is now realising the advantages of crypto. Also you can see the price of BTC is pumping over the past few weeks which means people started to buying it, I am sure crypto will rule the world in the next few years.

[24Kt]

No Matter where you are on the earth but you will feel the impact of corona virus, well this virus has already bombarded stock markets, tourism, trading, industries etc.

But for me the only thing which escaped from this horrible virus is crypto currency, yes the entire globe is now realising the advantages of crypto. Also you can see the price of BTC is pumping over the past few weeks which means people started to buying it, I am sure crypto will rule the world in the next few years.

Definitely, this Covid have impact on crypto but look at where we are now, bitcoin is going up despite this crisis. Of course, we experienced a downward trend when almost around the globe suddenly experienced lockdown. People panic, which is natural response. But we are now going up, it means, the panic subsides and we are heading again in the positive direction.

[bL4nkcode]

How it will affect on the crypto world?

The answer is obvious and you can see it already anywhere in the world, people needed cash/money that can be use to sustain their daily lives to buy and stock foods and crypto people are not exempted with that.

[judeafante]

I believe in Bitcoin in the long run, but when heard about the unemployment rate because of Corona virus increasing every week, I feel worried. How it will affect on the crypto world?

It will harm workers but not too many Cryptocurrency investors because many of them are investors running a business of their own, based on what I see in the market, there are investment flow and it's moving slowly but steady there are no harm done by the pandemic.that is so far.

[danherbias07]

If you really want to connect it with unemployment then lets do it.

There a part of me that says there will be a lot of cash out that will happen for another budget while looking for a new job.
A lot of payment is needed to be done. Although there is a stimulus check given to US citizens, there are other countries who didn't have that kind of opportunity.
Example is here in our country PH, not all of us have been given that kind of amount.
Some did with 8000php ($150) while other families did not receive that. I didn't.
No work, no pay in my company so I will need to procure with whatever I can.
Good thing I saved money. I am cashing out bitcoin every 2 weeks for necessities and for my kids.

Yes, it will affect a little, we are not just seeing it now.

[fortunecrypto]

I believe in Bitcoin in the long run, but when heard about the unemployment rate because of Corona virus increasing every week, I feel worried. How it will affect on the crypto world?

Surprisingly it has no effect at all the market is still doing fine, it's just a matter of time before things are back to normal again, unemployment is just temporary, once the pandemic is over factories and offices will open again and companies will hire again, this is just temporary, we have to bear it our scientist are working on the cure.

 

[joshua123]

I believe in Bitcoin in the long run, but when heard about the unemployment rate because of Corona virus increasing every week, I feel worried. How it will affect on the crypto world?

The matter of topic is slightly contradictory. Bitcoin is a digital currency, and it well popular to investors. Employment on blockchain related is not that so many yet and also, if they ever hit, they can always fo work from home works since this is a computer or tech business. Crypto world has been affected by corona but not by the rate of unemployment but due to the market crashes. As you can see its slowly getting back. We can just hope a good recovery when the issue on corona has become light.

[tokoorochan]

I believe in Bitcoin in the long run, but when heard about the unemployment rate because of Corona virus increasing every week, I feel worried. How it will affect on the crypto world?

i am sure unemployment rate have dirrect correlation with personal income , if people's income decrease alot due they lost their job to fullfiled daily needs they will use personal saving or investment.  and crypto asset could be sold if they have no more money in bank account. i am worry crypto price could drop slowly .

[FontSeli]

I believe in Bitcoin in the long run, but when heard about the unemployment rate because of Corona virus increasing every week, I feel worried. How it will affect on the crypto world?

This has already affected the crypto world. Remember the strong fall in the price of Bitcoin in March, as well as other cryptocurrencies. It was caused by both panic from the fall in the oil price and concern about the upcoming pandemic. Now that the situation has stabilized and is gradually improving, the price of bitcoin has gradually started to grow.

I am sure that everything will be fine and this summer the price of Bitcoin will pass the $ 10,000 mark.

[Crazyworld]

I believe in Bitcoin in the long run, but when heard about the unemployment rate because of Corona virus increasing every week, I feel worried. How it will affect on the crypto world?

Immediately: shock and collapse (people cash out to get prepared for the unknown)
After 1-2 months: it’s now, the news about printing money like crazy is pushing people to look for a safe investment. Bitcoin goes back to its usual price.
In 6 months: the number of investors in gold and crypto will be much more significant, the price will surge
Jan-feb 2021 price stagnant.
April: a rally will start bringing btc to 35k before summer, fall below 30k in summer, and grow again from sept 2021 going to ATH above 40k

I love this prediction. Let see...

[irixo10]

I believe in Bitcoin in the long run, but when heard about the unemployment rate because of Corona virus increasing every week, I feel worried. How it will affect on the crypto world?

Like you said the unemployment rate is going higher, now people in such position what will they do? They will take up the next, best and possible solution, and as it stands the crypto world offers a good chance. In my own opinion, this will affect the crypto world in a good way because as people are joining more there will be significant growth as well. I believe people are already joining gradually and with time, more will join as well while the world keeps looking for a vaccine.

[XenoFever]

This pandemic virus affects so much many things, real life system has been really affected by this because so many people died and many business falls down because there's no more person who are going to work on such business, as well as the crypto world, when this virus is not existing the price value of different cryptocurrency is so high then sadly when this virus has visited atound the world, the price value of different cryptocurrency goes down because of so mant factors.
1. Investors tend to pull out their assets because of being afraid of what will happen on bitcoin
2. Thwy need to convert their cryptocurrency to have money to sustain their lives while under quarantine.

[Tomohisa]

This pandemic virus affects so much many things, real life system has been really affected by this because so many people died and many business falls down because there's no more person who are going to work on such business, as well as the crypto world, when this virus is not existing the price value of different cryptocurrency is so high then sadly when this virus has visited atound the world, the price value of different cryptocurrency goes down because of so mant factors.
1. Investors tend to pull out their assets because of being afraid of what will happen on bitcoin
2. Thwy need to convert their cryptocurrency to have money to sustain their lives while under quarantine.

So corona will affect crypto just like the real business. I saw people rush to exchange to sell their gold (in Thailand). The same thing happens to the bank as they have to reduce the interest rate, the customer takes out of their saving from the bank, real estate also can't pay back the loan from the bank,... Things really look grim in almost everywhere but I think crypto is the least affected by corona if we make a fair comparison with real business.

[pandanaran]

I less know, but what is clear is that this virus has a bad / negative impact on the economy. I don't know if VirusCorona will give to have a bad impact on the crypto world or not but at the moment I see that market conditions are back improving. of course we must to believe in Bitcoin in the long run because it's not possible Bitcoin will fall or die just because of VirusCorona pandemic.

yes, as we have seen that the current situation of the crypto market is slowly improving and this may indicate that the corona outbreak did not affect the crypto industry as a whole. but I am optimistic that after the crypto outbreak can be resolved, the price of bitcoin will increase significantly.

[totoy4741]

At its first week of pandemic so many people  including in different busines sectors and crypto investors  had panicked that caused  every marketsto crash down but along the way the market found its ground had been running back in forth from $6.5k-7k until last night that broke out to $7.5k It might have had and effects but not totally affected as it has gained its momentum back and we will be seeing a healthier market towards its halving day in 16 days coming.