New Covid wave vs Bitcoin

[coinfinger]

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?

The same thing repeating itself? Lol that’s something that we cannot tell. It’s just like it happened the first time, none of us was able to predict that the price will be falling when the pandemic started. Some people here even said that the pandemic would be good for Bitcoin and they started to make some crazy predictions and how BTC will reach $1 million, but at the end BTC still dropped to a low of $3,800.

So, we are not sure about this second wave of Coronavirus. If it gets down, there are still lots of chances for further slow progress of economy everywhere which cannot be good for anyone but I am sure when stocks are not doing good, gold will perform well then why not bitcoins. The current pandemic will definitely get positive impact for bitcoin ecosystem by bring more investors into board.

[finaleshot2016]

It won't affect the crypto market because as far as I know, it's already proven in such threads that are posted here that COVID-19 isn't the reason why BTC has a downfall.

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.

Exactly, fear and panic were the cause of the drop in the market value of Bitcoin but you should also agree that, the pandemic contributed or was the main cause of this fear in the first place.  A lot of people thought they were gonna die considering the rate at which the numbers were increasing.

I hope that at this moment, people don't panic because bitcoin price is down too far, and bitcoin needs to struggle to increase to the higher price. This pandemic makes people suffer because many of them lost their jobs, and they need money to buy their daily needs. But people do not give up, and they still trying to survive even we know that the pandemic does not already end.

Recently, bitcoin has a slight downfall to 8k$ mark and it's nothing new since we already knew that it has the ability to go back to 9k$ or even the 10k$ mark. Now, there's nothing to worry about it and just have faith in bitcoin that it'll give us new ATH this 2020. Let's have a positive mindset on this pandemic, we already lose a lot and don't deserve to lose more. And yeah, COVID-19 is still a factor but it does not greatly affect the crypto market right now.

[Russlenat]

Recently, bitcoin has a slight downfall to 8k$ mark and it's nothing new since we already knew that it has the ability to go back to 9k$ or even the 10k$ mark.

We've seen that many times so it's possible, however the problem is bitcoin is not stable, it could fall anytime even if it's already sitting at a good price now. I would not think of the covid effect as we've seen how the market react to it and it was positive so far.

Now, there's nothing to worry about it and just have faith in bitcoin that it'll give us new ATH this 2020. Let's have a positive mindset on this pandemic, we already lose a lot and don't deserve to lose more. And yeah, COVID-19 is still a factor but it does not greatly affect the crypto market right now.

I always think of a ATH but I always convince myself at the same time that I should be ready to see the opposite.. I just matured so I can't easily be fooled if there's panic or FOMO that is going to happen.

[JohnBitCo]

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?

The first time when pandemic struck, people didn't knew about about it and more panic was created. This time around if another Covid wave comes, people are already aware of it and I do not expect any unusual movement in bitcoin prices.

[Vannie12]

I think it is not the virus itself but the effect of it as a pandemic wherein countries decides to close indistries.
No people means no demand. People will tend to be sensitive financially.
Though I do not think that bitcoins are not directly affected , somehow seek for financial stability of people affects it. Either people hold or sell depending on their needs.

[iv4n]

Some people feel sick already from the first wave and governments actions across the world. With new imaginary wave people will finally see what governments are doing, and maybe it's the end time for this world to wake up!
New wave will push even more people towards crypto, I don't worry about us here, in many ways crypto is world for itself, outside current global economy, but I am afraid for ordinary people who have a lot of problems due these lockdowns.
New wave has nothing with bitcoin and it's stupid to say something like new wave against btc. Anyway just to remind all of you that bitcoin made a success without any help, we don't need some corona or anything similar to help bitcoin grow, it will grow anyway, with help of all the people, all of us!

[Leviathan.007]

I remember just a few days ago I wrote about this second wave of Covid-19. You must consider everything, we all know after the start of second wave of lock-down stocks, oil, will fall. But in the other hand we learned a lesson from the first wave that metals like gold and silver are usually the safe haven in this situation. Also, since people are trusting the crypto currencies and the crypto is much more safe to sure during the crisis (because it's fully digital) I'll believe the bitcoin's price won't dump this time.

[davis196]

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?

Back in March,the coronavirus was something new and shocking.3 months later,the national healthcare systems and the World Health Organization have more info about COVID-19 and know what to do,in order to stop the virus.The second wave of COVID-19 is pretty normal.After all,the lockdowns are over and the people are on the streets.We just have to learn to live with the surrounding threat of this virus.I believe that COVID-19 isn't as deadly and dangerous as it was described back in March-April.The virus mutated and it's less dangerous now.
The Bitcoin price won't have a nosedive crash during the so called "second wave" of COVID-19.
I expect a slow bearish trend in the crypto markets during the summer,due to the slow recovery of the global economy.

[bitcoinst]

I would not count on it.  

During quarantine, bitcoin did not show any movement that was strong and independent of classical markets.  
When stock markets fell, bitcoin followed after them, when they recovered, bitcoin also recovered.  

Bitcoin is still too young to act completely independently of global markets.  
However, a certain correlation is visible, when the global economy grows, bitcoin grows with it, which means that the next quarantine is not profitable for us.

[GreatArkansas]

I don't think that Covid19 was the main reason why Bitcoin fell down that time. I think it is just one of the factors. Truly, Covid19 made people panicked about the situation that's why people tend to hoard their Bitcoin and avoided spending it. But then that's just one of the small factors.

For sure it was Covid-19. And take note, not only Bitcoin was dumped before when pandemic COVID - 19 started to spread in other countries.
A lot of stocks are also dumped before together with Bitcoin. The only on Bitcoin is for how many hours/days Bitcoin was able to bounce back and look where we are now. Price now is good to me, and I am not expecting anymore a huge dump just like before (COVID 19 first outbreak).

[plvbob0070]

If it's really the reason why the price dropped, I don't think it will happen again. What happened during the first wave we are probably just because people are afraid and surprised by the unexpected virus. Almost all markets are affected because we did not expect that this virus can be a threat to everyone. But since people are now trying to slowly adjust and adapt to the new normal, I don't think it will have the same response or effect if the second wave will occur. In my country, we're not even done with the first wave because we were not able to flatten the curve, it just keeps on increasing.

We should really expect that the number of cases will increase since, after months of lockdown, we need to reopen businesses to save the economy and there will be more possibility of spreading the virus.

[DarkDays]

I don't think we'd see the same knee jerk reaction we saw when the virus first got declared as a pandemic.

The numbers weren't even anywhere near at their peak at the time the World Health Organization made its announcement, and yet the stock market and everything else was sent crashing.

Therefore, it's really not about the numbers. The coronavirus is still a pandemic (as far as I know), and the numbers will likely stay lower than the first peak (by which point Bitcoin and most other assets were already well on their way to recovery).

If the WHO goes and say it's even worse than a pandemic, then expect another drop.

[GDragon]

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.

This is my speculation too, I am one of those who's scared about the price but luckily I don't have anything to hold that time cause I already sell it before it went down. The fear is really the one that makes the price go down that low. It was proven as the price slowly get back up earlier compared to other investments. Its different this time too, we are already slowly being familiarized with the virus. Some country flatten the curve too. And the halving last may. It may or may not have effect in the future too. Hopefully, the good one. So if the virus hits back again, the level of uncertainty will not hit that hard again.

[Twinkledoe]

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.

This is my speculation too, I am one of those who's scared about the price but luckily I don't have anything to hold that time cause I already sell it before it went down. The fear is really the one that makes the price go down that low. It was proven as the price slowly get back up earlier compared to other investments. Its different this time too, we are already slowly being familiarized with the virus. Some country flatten the curve too. And the halving last may. It may or may not have effect in the future too. Hopefully, the good one. So if the virus hits back again, the level of uncertainty will not hit that hard again.

Don't forget those small time holders that sold their btc holdings to augment their needs during this pandemic. Not many people have good amount of savings so there were crypto users that sold some of their stash to be used for their daily needs. Aside from the fear that most were dreading about the fall of btc price. But I think, even this second wave comes, people are not that scared as the first one.

[CarnagexD]

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.

As there are countries who are really recovering from economic crisis right now after they overcome this pandemic. Probably, they are now on the next step where they will open business to recover all of the damages that this virus gave to us, including the dump in bitcoin's price.

This pandemic really make us undergo recession and economic activities are not moving, that's why the economy doesn't have any progress regarding its situation.

The economy of a certain country went down due to this lockdown that we are experiencing and many citizens are really affected especially those people with business that are unable to operate due to the risk of the virus. But hopefully, some countries are able to stand up again and recover economically.

[Assface16678]

The virus totally does not affect the bitcoin just many people would like to support the use of the bitcoin because this is the safe heaven of the market investment because of the increase of the number of the market price of it. By the time goes by the bitcoin does not relate to the price of USD because they are different on currency. Some of the people secured their money on making an investment on it.

Still even on covid we need to be aware about the market price of the bitcoin because this is volatile and some of he country are still cannot make a fully recovery and still support their financial to increase the GDP so the chance on it is supporting the fiat currency and trading on the stocks to bring back the wealth of their places.

[pawanjain]

I don't really think that the same behaviour would be seen this time since there was too much FUD created the previous time.
Although the pandemic is not yet over, the crypto market is quite stable now and has recovered quite well.
If the Covid wave again hits around, we might see a little correction but it won't create a huge dump like the last time.

[stiffbud]

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?

The charting tools were already indicating a market shift that could go either way, up or down and now the second wave of COVID will definitely make its mark on bitcoin and the price is definitely going to fall again. If the price falls then it could trigger a bear market and then we can atleast target $6k for sure, it can go even lower than that if the situation turns out worse. I already have sold plenty of my holdings at $9500 and would like to see the price go down so as to purchase bitcoins at a cheaper price. This time the fall will be just like the one that we saw last time in March.

[posi]

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?

The first wave was before the May halving of Bitcoin and the drop wasn't out of place at the time because of the uncertainty occasioned by the pandemic. But now with halving and reward cut into a half, I don't see price crashing. There can be price correction but not a crash.

I believe the market is in manipulation stage not correction since the market dont experienced simultaneous surge in price which may lead to market corrections.

Nobody will want to sell their Bitcoin cheap because buying back may likely not occur for them. The way looks bright for Bitcoin regardless of the global financial illness.

The future look bright for Bitcoin market but with the current pandemic, there's a chance for some people to sell their bitcoin if they were among those bought when the price of bitcoin is at $9000 and also in need of urgent fund.

[gamer4156]

The corona virus did not have much effect on bitcoin. Hopefully it won't have an impact in the future. I hope Bitcoin will continue at its own pace. The corona virus initially caused panic around the world, but now it has spread to many countries. New Asian countries are being hit harder but I hope it will not affect bitcoin.
While the Corona virus has had an impact on the world economy, it has not yet had an impact on Bitcoin. Hopefully Bitcoin will remain in its normal position.