New Covid wave vs Bitcoin

[Qcrypto]

So it would seem there is another Coronavirus wave on the way, at least in some countries.

Last time the pandemic struck, we saw Bitcoin price plunging hard.

Will the same thing happen again, can we expect the new lows?
What are your thoughts?

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[mk4]

As far as I know, it wasn't the virus itself that caused the drop in price(obviously), but the heavy fear that a lot of people had of the virus. The way I see it, the fear has died down significantly already even though the virus is still a heavy threat, and a lot of people have been fearlessly going out(take a look at the recent riots) already. Without masks and stuff.

But who knows, really. The virus could've been 100% eliminated tomorrow and the price could still potentially fall for some reason.

tldr; no one knows.

[$crypto$]

Corona virus waves like this will end. We are now in a new normal, which has been applied in many countries, so that the big wave before that will not happen again, to affect the economy, obviously this is bad, but all will recover if the new normal will run better than before.

I will not think negatively about the price of bitcoin even though I don't know the reason but I am sure the position of bitcoin will be better than now and it seems that the crypto market has started to survive at $ 9.7k which means one step we will go towards the expected rally.

[sunsilk]

Those countries that managed to flatten the curve as impressive. And special mention to NZ that totally eradicated covid19 into their country, this puts hope for most countries that it's possible to lessen and make it completely gone.

As for the connection during the plunged on March as it seemed to be related to the pandemic. But, I don't think that there's basis on it. We thought that the market will eventually drop because of the pandemic for the next months but it didn't.

What probably happened on March was due to halving speculations.

[arwin100]

Corona virus waves like this will end. We are now in a new normal, which has been applied in many countries, so that the big wave before that will not happen again, to affect the economy, obviously this is bad, but all will recover if the new normal will run better than before.

I will not think negatively about the price of bitcoin even though I don't know the reason but I am sure the position of bitcoin will be better than now and it seems that the crypto market has started to survive at $ 9.7k which means one step we will go towards the expected rally.

Unfortunately the numbers of infected keep rising everyday and we are now at total 7 million infected and 400k+ deaths so provably the numbers will increase since other countries lift out their lock downs and let their citizens comeback to their workplace, So if this continue for sure we will suffer for more crisis.

So maybe if countries will go back to lockdown for sure the investors will hold again their money for security.

[seoincorporation]

I think the crazy change in the price when covid come was because of the crazy move on the oil... The crazy crash in the Oil brings madness to the markets, that was the reason behind the crazy bump and dump on BTC and not covid.

[DeathAngel]

So it would seem there is another Coronavirus wave on the way, at least in some countries.

Last time the pandemic struck, we saw Bitcoin price plunging hard.

Will the same thing happen again, can we expect the new lows?
What are your thoughts?

I don’t think so, I think the initial shock & panic set in previously which led people to selling stocks, crypto, non-essential investments because they feared it’d be worse than it has been.

I can’t see another big dump, no.

[Kakmakr]

The Corona virus is now part of our lives and also part of our economy. People have already adjusted to the changes that are needed to operate in a world with a virus threatening their employees and their families.

The quarantine restrictions and the global banning of whole industries have given the global economy a kick in the butt...  now the Health care industry had a opportunity to gear up for a new breakout of the virus, so there are no need for more restrictions that would close businesses for long periods.

                  Let's hope everything is prepared and that less people will die in the next coming months.   

[The Cryptovator]

To be honest, last dump of bitcoin was happened due to panic. Huge panic was spreaded over world population and total global financial economy was collapsed. In a result we had encountered a huge impact on bitcoin for small time. But lately most of country removing lockdown with some conditions and life becoming normal very slowly and that's would be one reason why bitcoin not responding on current situation although probably there is another wave of covid-19. But it right that this waves around couple of country, and most of countries curing from it. So I am not expecting huge negative responses on bitcoin for current covid-19.

[DoublerHunter]

So it would seem there is another Coronavirus wave on the way, at least in some countries.

Last time the pandemic struck, we saw Bitcoin price plunging hard.

Will the same thing happen again, can we expect the new lows?
What are your thoughts?

I don’t think so, I think the initial shock & panic set in previously which led people to selling stocks, crypto, non-essential investments because they feared it’d be worse than it has been.

I can’t see another big dump, no.

^ Definitely right and I think holders now can manage this situation and avoid panic. So far in my place, I did not hear the second wave coming even though the virus did not fully lift yet. There is no correlation between the price of bitcoin and the COVID 19 virus on cryptocurrency space, probably on the stock market that the first experienced the downtrend but in cryptocurrency, we saw that there is no effect but instead people hoard bitcoin while it is temporarily down maybe 1 week in the market but after that, it is grew up again. Nevertheless, I believed bitcoin will hit more than $10k on this month.

[Ozero]

Now the situation is different and differs from the one in mid-March. Then people were very scared by governments and the media. People rushed to buy everything, as before a long siege. Now the coronavirus is not as scary as it seemed in the spring. In many states, this virus has declined, some even announced victory over it. In any case, such a panic will no longer exist, even if the second wave begins, there will be a coronavirus. If the cryptocurrency market reacts with a fall in prices, then it will be insignificant.

[Hydrogen]

During the first wave of corona, factories and refiners of raw materials in china were forced to shut down. This denied factories around the world vital parts, raw materials and components required to produce their own products. The economic slowdown coupled with predictions of millions of casualties and mass graves being dug, produced a stock market crash before the virus fully manifested itself outside china's borders.

Circumstances should be better the second time around. We have a better idea of what works and what doesn't. Which measures are necessary and which are nonessential. It will all come down to how states and regulators choose to act. Whether they decide to follow the rational conclusions drawn from evidence. Or whether they decide it is better to pursue questionable agendas.

[rexxarofmoknathal]

So it would seem there is another Coronavirus wave on the way, at least in some countries.

Last time the pandemic struck, we saw Bitcoin price plunging hard.

Will the same thing happen again, can we expect the new lows?
What are your thoughts?

I hardly think that this would be the case. While a new wave of the pandemic might be hitting certain countries across the continents its unlikely that this will affect crypto and BTC like it did previously. The reason for this is because the leading countries like the US, UK, Japan, Germany seem to show great improvement and because not all countries will experience the second virus wave the market is likely to be unaffected by it.

[danherbias07]

The need is still the vaccine or more waves will come.
Yes, the price might have fall but look at it now.
Even when the virus is still there the price of bitcoin doesn't move much.

They even risk their stimulus checks to be invested in bitcoin.
I still hope this will all end and maybe we could see the reaction of bitcoin price from the recent halving.

[hatshepsut93]

Even if the second wave of coronavirus will also damage the economy, I doubt that Bitcoin will experience the same drop, as people now see that the crash was a pure panic with no fundamentals to back it up - there's simply no reason why Bitcoin should crash, as Bitcoin doesn't rely on supply chains or physical businesses to operate. Now Bitcoin fully recovered and people who panic sold are feeling dumb - meaning they'll be unlikely to panic sold again in a similar situation.

[applsause]

Currently, the name of the world's biggest terror Covid 19. As a result, the world economy has become very stagnant. At first, it seemed that the economic stagnation on Bitcoin was due to the influence of Covid 19. Later, the price of Bitcoin continued to rise. However, the good news as well as the sad fact is that in some countries the rate of Covid 19 infection is nearing the end and in many countries the rate of infection is increasing at lightning speed. We hope that this virus will not be able to attack the bitcoin rate.

[fiulpro]

  well lemme tell you guys some interesting facts :

The reason why we don't have any treatment plan for HIV is because the virus mutates at a very fast rate and therefore it's hard to pinpoint the treatment.

Now according to the scientists , the Corona virus is mutating too . The data is changing and now patients are taking longer to show symptoms. The incubation period is increasing.

This is not confirmed ofcourse , just like any other fact about COVID-19 , it's also in the sheets and we don't have time to actually go and try to find out more about it when we are already struggling with the vaccine.

Now we are not only going to face the second wave but we are also going to face a stronger mutated virus .

But all I know is , we cannot afford quarantine anymore. No country can . People are dying out of hunger if not the virus itself and therefore the market will continue to work .
We won't see any ups and downs in the Crypto market for the long run because of the virus itself.

Corona virus have showed the government that Fiat is not enough! They do need system like Bitcoins. Let us wait and hope that the current hope for vaccination to be out till September works . But then again chances are really low.

[Jawhead999]

Will the same thing happen again, can we expect the new lows?

No, I think not because many country is more aware than on last 2-3 months ago. The price is have major dump because of heavy fear ( crash on economy, negative oil price, stock crash etc) and make many investors do panic sell. Probably covid-19 will spread more and affecting more people... but It doesn't happen on Bitcoin. More over, holders will always hold since they're expecting bullish due to halving. Bitcoin will always continued volatility without affect from covid-19.

[ChiBitCTy]

So it would seem there is another Coronavirus wave on the way, at least in some countries.

Last time the pandemic struck, we saw Bitcoin price plunging hard.

Will the same thing happen again, can we expect the new lows?
What are your thoughts?

This really seems like conjecture at this point.  I've not seen any sound scientific proof this is going to happen.  If it does happen, imo, believe we would see bitcoin fall some.  I think it would be part of a chain reaction as would surely see the stock markets crash and then as it seems to be the tide that brings all boats down, we see other things pull back such as bitcoin.

[Sanugarid]

As far as I know, it wasn't the virus itself that caused the drop in price(obviously), but the heavy fear that a lot of people had of the virus.

Basically, it is the pandemic that made the price drops, it reflects to people then to the market. It is the fear yes, but it can't always be the fear of the people.

The way I see it, the fear has died down significantly already even though the virus is still a heavy threat, and a lot of people have been fearlessly going out(take a look at the recent riots) already. Without masks and stuff.

It seems like bitcoin is performing well these days, it's like a pretty normal day for the whole cryptocurrency including the alternative coins coz I see they are thriving and growing. And it looks like people now are realizing how much of a convenient when using a digital payments, especially crypto for more security.

But who knows, really. The virus could've been 100% eliminated tomorrow and the price could still potentially fall for some reason.

I believe that the effects of this virus is only in the beginning, since that is where the people are afraid of, I don't see a raise in doubts when we slowly eradicate this virus.