Covid 2.0 UK has suffered massively and BTC is dropping

[kentrolla]

As new virus of COVID-19 is on rise in United kingdom  news is spreading across the globe as this time it will spread more faster than before, stock market has affected very badly after this news and even BTC has fall nearly 1.5$.

I am really not sure what's going around, Are billionaires spreading rumours to make vaccines demand? To me it looks like BTC will go down slowly from now, what's your opinion guys.

[jackg]

The vaccine is yet to be tested against the new strain. Pfisers could see issues with the new strain since they picked a part of the structure that has now mutated (though its likely the old vaccine will still work - just requires testing).

Most of the new virus is in the south East because they didn't lockdown fast enough and that's the government's, their local government and their own fault.

[boyptc]

even BTC has fall nearly 1.5$.

I think you forgot to include the 'k'. $1,500 / $1.5k.

This could be the correction that must happen for which everyone is waiting for. As btc goes down on a slow pace, this will be the opportunity of others to buy. Why think that it will continuously to dump? don't see it happening.

[UnDerDoG81]

Omg big news, viruses mutate! There have been 300.000 mutations of covid19 since release... And this one is big news of course... Sheeple people... Nobody should ever ask again how Germans followed their government blindly from 1933 to 1945... Newsmedia is always the key... And they are owned by 5 families over the world...

[STT]

The new strain is no worse apart from spreading more easily, the vaccine still applies and so theres no greater negative in actual symptoms.  Thats the info I've heard, people just have to be more careful not less until they get a vaccine simple as that.    I did fear a second wave type occurring but this isnt it afaik


So the sell off is more to do with the market generally taking profits, its risen so much its due for a sell and BTC also that applies.   Just a simple look at graph reflects we've topped out the action after reversing possible failure of trend up previously, a pullback is well within range of a positive market.



So bars are weekly, last two bars are the big green for last week and the new one forming now is red as we sell this morning but its retracting within a positive trend.

[Yaunfitda]

I don't think that it has to do with the Covid 2.0 in UK. Market is due to correction anyway, at least Sunday in my time and people are just taking profits for the holiday season. No need to connect the dots for every negative news we've hear or seen on the news about the pandemic and relate it to bitcoin market.

Market has matured already, and if we are in a bull run that we have seen in the past days, doesn't matter if there is negative news, the greed factor and FOMO will just take over. And since it gradually slowing down, as obviously, people are just selling for profits.

[FatFork]

Many disagree that this pandemic has had a major impact on Bitcoin this year. Yeah, we have seen a significant increase in the price of Bitcoin, but several factors have had an impact on it. Bitcoin halving, institutional adoption as both an investment and as a service, PayPal... It is also needless to compare the stock market with Bitcoin, since we have observed in some cases that the two markets do not inherently correlate.

Covid pandemic can have both positive and negative impacts on Bitcoin. It all depends on people's perception.

[tertius993]

The new strain is no worse apart from spreading more easily, the vaccine still applies and so theres no greater negative in actual symptoms.  Thats the info I've heard, people just have to be more careful not less until they get a vaccine simple as that.    I did fear a second wave type occurring but this isnt it afaik


So the sell off is more to do with the market generally taking profits, its risen so much its due for a sell and BTC also that applies.   Just a simple look at graph reflects we've topped out the action after reversing possible failure of trend up previously, a pullback is well within range of a positive market.



So bars are weekly, last two bars are the big green for last week and the new one forming now is red as we sell this morning but its retracting within a positive trend.

Merited for a sensible thoughtful post rather then the panicked “oh my god the sky is falling” that seems to be the norm ...

[buwaytress]

Meanwhile, dollar vs euro is looking like crap. Seeing BTC go up in price is nice yeah, but then when you're looking at euro, it's not been as spectacular (relative of course). You'd still need 25k USD to say it's 20k euro, so kinda dampens the mood to see dollar valuation go up while inflation eats away at that real value.

Nice dip, by the way.

[davis196]

This looks pretty similar to the March price crash,the only difference is that the March price crash was caused by Trump,the Bitcoin price recovered pretty fast after March,so there's no reason for panic.
This new COVID 2.0 will cause a new wave of lockdowns,which is bad for the "brick and mortar" economy,but it might be good for the virtual economy,including the crypto industry and crypto markets.
I'm not quite sure that the news coming from the UK are the main reason why the price is going down.
 

[rodskee]

As new virus of COVID-19 is on rise in United kingdom  news is spreading across the globe as this time it will spread more faster than before, stock market has affected very badly after this news and even BTC has fall nearly 1.5$.

Lol BTC price falls Because this is the correction and also others are taking their Piece of cakes from their long term Holding.

and This is normal after the Long run Bitcoin does.

I am really not sure what's going around, Are billionaires spreading rumours to make vaccines demand? To me it looks like BTC will go down slowly from now, what's your opinion guys.

BTC will go down ,But just a little from 20k ..we have investors now and big companies ,Bitcoin is becoming Real now in faces of those who had first Denied this.

[masterzino]

I'm not a fan of conspiracy theories, but all counties are reacting too strange to the new mutation.

From one side it's know from September and seen in the Netherlands, Austria, etc., yet almost the whole EU closed the UK by sea and air. It's strange and the global panic could bring the Bitoun under $20K again.

https://www.bbc.co.uk/news/live/world-55392619

[acener]

Would all of the negative events in the future connects in BTC price drop?
When would this kind of thing stop?
Why are there still members connecting anything to the BTC price?

[Dollar_Hunter]

If I pay attention, Covid 19 should not be good and bad news for Bitcoin,
because Bitcoin will not be affected by Covid 19, indeed the price has dropped to 70% because of Covid 19 in early Q1,
but Bitcoin is recovering quickly, so this is the news is just a FUD.

[LFC_Bitcoin]

You’re a 2011 registered account & you think a $1,500 drop is a big thing?

Does anybody else smell a bought account?

Dude, we were under $4,000 when covid first started. A $1,500 drop is nothing, it's just price discovery. We’re at the start of a massive bull run. When we reach new highs naturally there are some sell offs & subsequent corrections. The trend is up & will be for the next 12 months at least.

You should know all this though as a 2011 OG.

[Harlot]

I am really not sure what's going around, Are billionaires spreading rumours to make vaccines demand? To me it looks like BTC will go down slowly from now, what's your opinion guys.

I don't think this is a correct assumption especially if we have 7+ big pharma producing their own COVID vaccines with different price points. They can't really do anything about the demand at this point when the supply itself is enough for everyone to have. For the numbers or the increasing of it in the UK how did you assume that the numbers they are giving you about the rise of infected is fake? I mean you might not see it but for sure people in your country gets tested everyday and this alone is enough to determine if this person is infected or not.

[STT]

1k is nothing much, right now its about 1% down though we have recovered most of the day now and its at a turning point again.  Simply that would be the 2 day average which is overhead.

Why are there still members connecting anything to the BTC price?

Well news can move us but generally its a trigger for profit taking, in this case I reckon a covid story is the wrong association and in fact its to do with the USA bail out agreed recently which was smaller then hoped for.   A small bail out though its nearly a trillion in cost is not the large surge of new currency some might have hoped for to justify this BTC rise.   

https://www.cnbc.com/2020/12/20/mcconnell-says-congress-has-agreed-to-900-billion-coronavirus-stimulus-deal.html?__source=iosappshare%7Ccom.apple.UIKit.activity.CopyToPasteboard

   Just my take but if price does turn on this europe market close and we end day going back down to say 21500 then I'm watching that point for strength as it marks a trend true daily since about October.  The reason I think maybe we get more bumps is the sell volume was higher then this drift up, but I dont know if that matters yet.   Digestion is how I describe these set backs etc.

[NeuroticFish]

Are billionaires spreading rumours to make vaccines demand?

To me it looks like politicians try to hide the fact they didn't do their job properly (the so hated lock down), which will make them now even more set aside.

I am not convinced that the new covid mutation is related to Bitcoin price movement (as said, mutations happen more often than most of us know). Maybe the forced (by EU) lock down is one of the causes.
And possibly the other cause is that there won't be any Brexit deal, despite many people's (futile) hope that politicians will get to their senses.
I'll add some market manipulation to the mix, since some know so well to fructify the news and .. here we are.

[Beparanf]

If another wave of mutated virus surge in again. I believe Bitcoin price will be affected again even though its not directly related on it just like what happened when the COVID-19 first hit the world. People always incorporated any global bad news to Bitcoin to create panic whenever Bitcoin price is high. I don't know what's the problem to crypto people but they are easy to persuade by news.

[wxa7115]

The new strain is no worse apart from spreading more easily, the vaccine still applies and so theres no greater negative in actual symptoms.  Thats the info I've heard, people just have to be more careful not less until they get a vaccine simple as that.    I did fear a second wave type occurring but this isnt it afaik

That is what I have heard as well, however if this new strain begins to travel all around the world then we really need to test it and see if the vaccine is going to be effective against it because if it isn't then we are back to square one and I think a great deal of people are tired of this new normality and they want to go back to their lives as they were, and if the vaccine doesn't work then that means that will have to wait for at least another year before this nightmare is over.

Now about the effects on the markets, I don't think this is going to be enough to make the price of bitcoin crash or anything like that, but if a few months pass and our worst fears are confirmed then that may be enough to cause a crash in the market.