New COVID strain may affect crypto valuation

[Vannie12]

That event when Covid started was a nightmare and it shut down every country. Factors such as business and employment were greatly inflicted and would explain that large investments that relates to crypto would reflect synchronization of its downhill since supply and demand are affected. I would disagree that it would crash solely because of the new variant, people and the government have adjusted and countries rose from their depths since the pandemic started and still there are other factors that would affect the market.

[Cling18]

Bitcoin has faced even the worse scenario of the pandemic situation and it remained firm so I don't think the new COVID variant would affect it too much. I'm sure that it's already strong enough to overcome the negative effects of the pandemic. It even reached a good price during lockdowns and restrictions. Bitcoin could resist the effects of this virus and there are even lots of good events happening to it.

[pealr12]

Still trying to figure out why this should affect the market so, I get people are in fear but why sell your assets as a result of this new covid discovery, shouldn't we be learning from the first and second waves! This new covid should affect the market this much especially since having survived the previous outbreak, well so far, the market has been resilient so hopefully, it will turn around soon.

[Raflesia]

Bitcoin has faced even the worse scenario of the pandemic situation and it remained firm so I don't think the new COVID variant would affect it too much. I'm sure that it's already strong enough to overcome the negative effects of the pandemic. It even reached a good price during lockdowns and restrictions. Bitcoin could resist the effects of this virus and there are even lots of good events happening to it.

Bitcoin was quite positive during the pandemic and I don't think this is the impact of the COVID variant in fact a lot of increases have occurred because people believe that bitcoin has grown 3x during the pandemic so this has no effect.
For me, it's quite calm now because people now feel free with social distancing that was applied before, even the economy has started to run normally and we will be side by side more even though the covid variant still exists.

[Silberman]

I am observing today something similar to what happened in 2020 but at a micro-scale. The announcement of a new COVID variant that may be resistant to current vaccines has sent the Dow and the S&P down the drain, particularly airlines and other travel hospitality linked business. Zoom stocks are up, mining and raw materials down,... It looks like a repetition also in bitcoin price with a plunge that may be ongoing.

For those of you that are newer on hodling, just calm down, this is nothing new, bitcoin will be there tomorrow and, likely, rebounding after the initial collapse caused by the stop-loss orders triggering of the first days.

It is very similar to what we saw back then, the markets hate uncertainty and the pandemic has been full of it, the new variant of the virus seems to be one of the most dangerous to date, so the international community is very worried about it as they fear that we may have to go to square one and live once again the days in which the majority of the population of the world was under lockdown, and all of this when the economies of the world have not recovered and the inflation is already very high.

[Haunebu]

What the heck are you talking about op? COVID actually helped the cryptocurrency market in more ways than one such as problems related to accessing physical money, renewed interest in digital payment methods etc.

BTC's recent correction started way before the emergence of this new variant to be honest. Also, I am expecting the price to rise soon because of this new variant due to reasons mentioned above.

BTC has been rallying constantly for sometime now which is why a major correction was always expected.

[alpamar99]

That event when Covid started was a nightmare and it shut down every country. Factors such as business and employment were greatly inflicted and would explain that large investments that relates to crypto would reflect synchronization of its downhill since supply and demand are affected. I would disagree that it would crash solely because of the new variant, people and the government have adjusted and countries rose from their depths since the pandemic started and still there are other factors that would affect the market.

rather than ccrash I prefer to call it a current correction and I think this is very reasonable because indeed bitcoin has gone up quite high even to touch their new ath.

on the other hand it makes sense if you say that because this kind of reason is only used to make something happen because there is an underlying cause.
I personally don't want to think of this as an impact that results from all of it but indeed everything will definitely have an impact even if only a little

[lixer]

I dont accept that COVID strain situation would affect crypto valuation. Just check back, we had consecutive ATH of BITCOIN during only Pandemic situation  and yes still we are marching forward for its next ATH. There seems to be a usual correction which happens before a great spike and yes this is what I believe  and I have seen since 2016. We could see large number of investors have come in to Crypto platform during the COVID period.

It looks like we are talking about something similar with covid being "good" for crypto but bad for the world. I hope that nothing similar ever happens again but the reality is that we are talking about something that is not going to be easy, even if covid ends today, something else could come out tomorrow.

It could be another virus, it could be some other event, it could be earthquakes all around, it could be fires that we have seen during summer globally. Basically, whatever happens will be a very terrible situation for the world, and I believe that we should not be really giving up hope about crypto but be worried about our own globe.

[STT]

I dont accept that COVID strain situation would affect crypto valuation. Just check back, we had consecutive ATH of BITCOIN during only Pandemic situation  and yes still we are marching forward for its next ATH. There seems to be a usual correction which happens before a great spike and yes this is what I believe  and I have seen since 2016. We could see large number of investors have come in to Crypto platform during the COVID period.

Might be correct longer term but the trading situation easily includes a sell off and that might extend the rest of this year we dont know.   BTC was already due something of a rise around Spring 2020 because of the halvening and ongoing tightening to BTC regular availability; the biggest point was not the flu variant but the monetary policy change at that time.  In 2020 they created so much new money a quarter of all dollars in grand total can be dated to just that one year (not that we bother to physically make them).

[redsun114]

Look btc is still around k55k+, and ETH is still k4k+. I would say that's a win. Yeah we had a huge drop because of covid fear and I am not going to say it is a useless fear because we have been living a horrible life for the past 2 years because of covid. I get that, I understand the fear from covid because the reality is that we are not going to live a decent life if it keeps going like this and every new variant scares people. However, financial world?

We are crypto and we should be doing even better if covid continues, I hope it doesn't, I rather have bitcoin at 1k dollar than have covid go on, if it means covid will end today and we all go back to regular life without masks without distance, then I am fine with bitcoin suddenly vanishing, I really don't care. I love bitcoin but this impacts everyone on earth. Which is why I hope that it goes away, yet covid going on fear should not impact bitcoin downwards, it should impact upwards.

[arallmuus]

What the heck are you talking about op? COVID actually helped the cryptocurrency market in more ways than one such as problems related to accessing physical money, renewed interest in digital payment methods etc.

Well in some sense, Paxmao's statement does actually make sense. The current crypto valuation is quite high right now so while some people are still speculating with crypto, some already move their money away from crypto space because of the high marketcap.

The reason that crypto skyrockected since the early 2021 was because of the pandemic spread back then and most business were out but in the current situation, business were all getting back to where it was so some people might stop speculating in crypto space and start putting their money back to some 'safer' investment

[Haunebu]

The reason that crypto skyrockected since the early 2021 was because of the pandemic spread back then and most business were out but in the current situation, business were all getting back to where it was so some people might stop speculating in crypto space and start putting their money back to some 'safer' investment

I partially agree with you here. Many people are transferring their money back to safer options, but they constitute the minority in my opinion. The majority still feel that BTC and other popular cryptocurrencies are reliable payment methods.

If that wasn't the case, BTC and other popular cryptocurrencies would have fallen way more in value which clearly didn't happen.

[Hamphser]

The reason that crypto skyrockected since the early 2021 was because of the pandemic spread back then and most business were out but in the current situation, business were all getting back to where it was so some people might stop speculating in crypto space and start putting their money back to some 'safer' investment

I partially agree with you here. Many people are transferring their money back to safer options, but they constitute the minority in my opinion. The majority still feel that BTC and other popular cryptocurrencies are reliable payment methods.

If that wasn't the case, BTC and other popular cryptocurrencies would have fallen way more in value which clearly didn't happen.

New or sentiments like this do presumably people been eyeing or keen about because it cant really be denied that this market is really highly reactive when it comes to

news like these thats why i cant really blame out people on having this kind of reaction whether they do believe it could affect or not and this is where we do act according into our experience whether we do act or just simply ignore.

We've seen different times on where market hadnt really care about these stuffs and just move according to the demand.

[Juse14]

I am observing today something similar to what happened in 2020 but at a micro-scale. The announcement of a new COVID variant that may be resistant to current vaccines has sent the Dow and the S&P down the drain, particularly airlines and other travel hospitality linked business. Zoom stocks are up, mining and raw materials down,... It looks like a repetition also in bitcoin price with a plunge that may be ongoing.

For those of you that are newer on hodling, just calm down, this is nothing new, bitcoin will be there tomorrow and, likely, rebounding after the initial collapse caused by the stop-loss orders triggering of the first days.

It is very similar to what we saw back then, the markets hate uncertainty and the pandemic has been full of it, the new variant of the virus seems to be one of the most dangerous to date, so the international community is very worried about it as they fear that we may have to go to square one and live once again the days in which the majority of the population of the world was under lockdown, and all of this when the economies of the world have not recovered and the inflation is already very high.

It is very interesting to see why new variants always appear at the end of the year and in a relatively short time these new variants appear everywhere and have even arrived in some countries that are quite far away.
the question is how do they show up fast enough? did they really exist or were they just made to have an impact that is as unexpected as it is today.

I'm getting fed up with stuff like this. Every year I have to hear variants that continue to mutate and create panic everywhere which affects the economy which is getting worse and worse.

[DrBeer]

I think for another 3-5 years, the situation with the Covid-19 coronavirus will not be resolved, there will be new mutations, there will be new outbreaks, there will be new lockdowns, which means there will be regular drawdowns of local economies around the world. And all this will lead to the fact that states will be forced to print more money to ensure social obligations in a situation with a shrinking economy. Of course, this will lead to significant inflation, which means that people will look for ways to diversify risks. This means that it will buy gold, possibly the shares of high-tech companies. Regarding high-tech companies, this segment will be strongly influenced by tough problems in the Chinese economy, and the withdrawal of many industries from China to quieter territories ... Let's continue - and one of the means of preserving and possibly increasing savings can be the transfer of part of the fiat income of the cryptocurrency. So in total - it will be bad for a few more years, but such instability only plays into the hands of cryptocurrency ...

[yhiaali3]

Yes, it is true, Bitcoin has started to come back again. This decline is a new test for Bitcoin. Bitcoin has withstood the strong effects of the Covid virus and today is still resilient in the face of the new virus. These are very strong tests of Bitcoin that have proven that it is much stronger than everyone thinks, so I think that we will witness a new strong bullish wave for Bitcoin, especially since there is news that Microstrategy bought 7000 Bitcoin today with an average price of 59,187$. This news is sure to have a very strong impact on the market and we will witness a new high soon.

[CaVO32]

Yes, it is true, Bitcoin has started to come back again. This decline is a new test for Bitcoin. Bitcoin has withstood the strong effects of the Covid virus and today is still resilient in the face of the new virus. These are very strong tests of Bitcoin that have proven that it is much stronger than everyone thinks, so I think that we will witness a new strong bullish wave for Bitcoin, especially since there is news that Microstrategy bought 7000 Bitcoin today with an average price of 59,187$. This news is sure to have a very strong impact on the market and we will witness a new high soon.

That's a lot of bitcoin that they purchased. In this action, we can conclude that Microstrategy is a strong believer of bitcoin. Because if they don't believe its capability, they will not stake large sum of money to btc market. And this is a very good indicator that we will have upcoming good run in crypto market.
And in terms of the new covid strain, I am certain that scientists can easily address this situation. It is not the first time to receive a new covid strain. So I have the trust on them that they can easily find a way how to contain this, maybe by releasing statement on what vaccine is needed or if the previous covid vaccine can manage this new strain. Or better yet, scientists can come up with the new vaccine that may address a lot of covid variants.

[TheNineClub]

COVID is temporary, but crypto is forever XD Well, for day traders any change can disrupt their trading, but for everybody else that is in this for the long haul, nothing really changes. Crypto will fluctuate, but when you look at the big picture, it's still gradually going up. Even tho, and this is my personal opinion, but this will not affect the overall crypto prices much, or the ongoing projects. 

[blockman]

COVID is temporary

Or the experts are telling us that it's already permanent and we will have those drug pills that will cure it easily soon. I want to believe either but we don't know what's really going on in the next few years but hopefully, just as you've said, it's temporary and there will be instant solution for those that will be contracted with this disease.

but crypto is forever XD

Yeah, it's here to stay.

Well, for day traders any change can disrupt their trading, but for everybody else that is in this for the long haul, nothing really changes. Crypto will fluctuate, but when you look at the big picture, it's still gradually going up. Even tho, and this is my personal opinion, but this will not affect the overall crypto prices much, or the ongoing projects. 

True, the rise every time the crypto market goes on a little correction, the recover is even more than that.

[Oceat]

Yes, it is true, Bitcoin has started to come back again. This decline is a new test for Bitcoin. Bitcoin has withstood the strong effects of the Covid virus and today is still resilient in the face of the new virus. These are very strong tests of Bitcoin that have proven that it is much stronger than everyone thinks, so I think that we will witness a new strong bullish wave for Bitcoin, especially since there is news that Microstrategy bought 7000 Bitcoin today with an average price of 59,187$. This news is sure to have a very strong impact on the market and we will witness a new high soon.

Covid has nothing to do with Bitcoin it has proven already in the last couple of months even if the government already told us that there's a new strain of virus coming but that doesn't stop us or Bitcoin to continue to grow. The sudden drop result isn't because of the new strain of virus or something it's just that Bitcoin needed it in order to sustain a long term stable growth. That's why it has to test some support level but that doesn't mean we already meet the bottom, there are still more room for Bitcoin to grow. And next month might be worthy as what the other think would be.