The impact of Corona Virus to Bitcoin

[Win 1015]

I think there is no connection of corona virus in any of crypto currency that will affect there price maybe a crypto that is only uses in china is the one affected it.and the possibility of china making there own bitcoin would be delayed becouse of this

[Naga 1250]

On 2/2/2020 at 6:50 AM, Ipal said:

Corona virus, yes I have an effect with bullish, maybe mining in China stops so that the price of bitcoin goes up and is followed by other altcoins.

if the mining in china stops it will actually make the price drop and not go up as you say, the thing is with the virus being out there people are investing their money in cyrpto instead of forex.

[AmjadBydn 0]

I think it will effect just on the Chinesse economy ! it will not effect on the Crypto currency ! because they can work with it everywhere ! at home , work , school 

[Migo 7946]

This virus will not affect bitcoin too much I think, except in China, and in the countries who were victims of this virus, but in general I don't think bitcoin will affected a lot, because this virus is far from touching bitcoin or even cryptocurrencies 

[Goody28 259]

Well the only impact I think Corona virus may have on bitcoins will be that it will terminate the work of mining bitcoins in China   since Corona virus is an air borne disease

[Sohel Rana 406]

On 2/2/2020 at 9:36 AM, Mandoy01 said:

Hello guys. I am back again.

 

I just want to share this article in this forum. To me it sounds crazy but this article is claiming that the threat of coronavirus is causing the rise of bitcoins value. According to the article the virus outbreak is one of the factors that cause a major push to the recent bullish movement of bitcoin. I have doubts about it but I just want to share it since this thing also is possible since people tend to shift to cryptocurrency when their is war, conflict, economic breakdown and the like.

 

Anyway here is the link and you are free to read the article: https://edition.cnn.com/2020/02/01/investing/bitcoin-prices-coronavirus/index.html

 

Feel free to share your comment and idea on this matter.

 

 

Corona virus are very alarming news in the world. Last one month chaina already stop output his may product   Corona virus. And maximum country didn’t deal within chaina. This impact spread with world economy. But i Don't think it’s not impact with bitcoin price.           

[MysteriousIdentity 150]

On 2/2/2020 at 11:36 AM, Mandoy01 said:

Hello guys. I am back again.

 

I just want to share this article in this forum. To me it sounds crazy but this article is claiming that the threat of coronavirus is causing the rise of bitcoins value. According to the article the virus outbreak is one of the factors that cause a major push to the recent bullish movement of bitcoin. I have doubts about it but I just want to share it since this thing also is possible since people tend to shift to cryptocurrency when their is war, conflict, economic breakdown and the like.

 

Anyway here is the link and you are free to read the article: https://edition.cnn.com/2020/02/01/investing/bitcoin-prices-coronavirus/index.html

 

Feel free to share your comment and idea on this matter.

 

 

The possibility is not zero that people will try to buy crypto currencies in the affected area of the virus. It will be there big asset especially if they can recover to the said virus but as of the moment they will need something where they can profit using their money as they can't do a thing to profit in this type of situation especially in Wuhan China and crypto is the best option for them compared to stocks. 

 

But whether there is a virus attack or not, it cannot affect the shifting of the market from bear to bull as it is very needed by the big whales in order to profit again. 

 

[amara123123 76]

There is no bad effects on carona viruses on crypto market because this is diseases issue is due to naturally not it is for our control so enjoyed market bull condition and forgot to carona viruses. 

[Nickibae 130]

Am so confused right now what is Corona virus and which countries has it  affected and what possible impact could it have on the value of bitcoins

[vermigerous 134]

A full grown country like China would accept again bitcoin as a means of payment, since a virus outbreak can destroy them in terms of economic growth. If it continues and never stopped and somehow goes to other populated country, then the country will be dangerous and people will keep on leaving the place and find a new home leaving China a ghost town. That is why Chinese maybe are secretly buying bitcoin for alternatives.

[Mashiur 77]

Actually Bitcoin and Corona viruse both are different. Because Bitcoin is one of the best successful crypto currency. And Corona viruse is very dangerous viruses

[Robot 93]

Actually I think Corona virus doesn't impact bitcoin. Because both are different. But bitcoin is very popular crypto currency

[Cryptominded 704]

22 hours ago, LouisHamm said:

Does it have a direct impact in the bitcoin price, though? Because it definitely affecting the economy of their country and some other countries. The only thing that I could come up is, because people cannot do their day job, so they are using bitcoin instead. is that it? 

Restriction of movement would affect workers in cryptocurrency mining companies which are usually located at the out sketch of the towns, If that continues, mining operations would be hampered leading to congestion in the network and sudden increase in mining fees.

[Rifrach 207]

I think the impact of Corona Virus on Bitcoin is to make people aware of the issues that all Chinese products can transmit to corona. so they no longer mine bitcoin for a while because they use china products. they have been lied to.

[Hendy1 370]

Yes I read this news not too much that I know. That some people from their country keep their finances in a bitcoin wallet. Which means bitcoin demand is increasing and changing the direction of the bitcoin chart to enter the bullish market and bitcoin prices are going up. Maybe this is the effect.

[Yanadia 1517]

22 hours ago, Rifat123 said:

We can see that corona virus is dangerous virus. But bitcoin is not virus. Corona virus and bitcoin both are totally different thing as we know.corona take many life.Actually corona virus and bitcoin both are different things. Corona virus is very dangerous virus. And bitcoin is one of the best successful cryptocurrency.         

Yes your opinion is reasonable but why this question arises not because of the object of the disease and its Bitcoin but because of the subject of market participants in Bitcoin.  In my opinion, it will definitely have an impact, even if it is not big because China is one of the largest countries using Bitcoin and Bitcoin mining. A litle This will result in a decrease in demand and supply from a country with a large bitcoin community, hopefully this can be overcome and they quickly find a vaccine for this virus.

[BrolySSJ 7899]

I don't believe that there is any direct impact of the coronavirus on the price of bitcoin. It is possible that it could have indirect consequences, however, none that  i could see to be major. As a result, i wouldn't draw a link between the two.

[Shivam1 428]

No bitcoin have no any effect from corona virus. Because corona virus is spread in china. There are many countries use bitcoin. Corona virus is very dangerous for health.

[febriyana 934]

I think Corona Virus is really make impact to China people. They have limited access to outside from their town. Many public transportation and other public service is stopped. That is not good for economic, their currency maybe going collapsed. That is why people in China maybe moving some fund to the Bitcoin. Where on Bitcoin we can fully control our asset.

[Sid 589]

After I read the article given by the OP. In my opinion, the case of the corona virus turned out to affect the price of bitcoi

[Ovis25 135]

For sure corona virus is supposed to have effect on Bitcoin but in this case instead of Bitcoin to drop I think instead Bitcoin now is rising up back. 

[MysteriousIdentity 150]

On 2/2/2020 at 11:36 AM, Mandoy01 said:

Hello guys. I am back again.

 

I just want to share this article in this forum. To me it sounds crazy but this article is claiming that the threat of coronavirus is causing the rise of bitcoins value. According to the article the virus outbreak is one of the factors that cause a major push to the recent bullish movement of bitcoin. I have doubts about it but I just want to share it since this thing also is possible since people tend to shift to cryptocurrency when their is war, conflict, economic breakdown and the like.

 

Anyway here is the link and you are free to read the article: https://edition.cnn.com/2020/02/01/investing/bitcoin-prices-coronavirus/index.html

 

Feel free to share your comment and idea on this matter.

 

 

There are plenty of reasons why bitcoin is increasing unexpectedly.  First because of big investors that we call whales and followed by halving hype where the investors are preparing for it and lastly because of coronavirus effect as we cannot deny that there are demands that came from coronavirus affected area. 

[Altcoinfan 448]

Corona virus could make world economies fall like dominoes - since China is where most of the "wealthy" countries outsourced their jobs they now should pray for China to get better. But I don't think we can see China recovering soon so this is going to affect all world economies. When you see dollar being printed like toilet paper, world being that close to global economy disaster and you have new currency rising(Bitcoin) which is clean of Federal reserve's dirty deeds would you invest in it? What do you think?

[Sapdrx 469]

Stockmarket prices, trade and financial markets are down as Corona virus keeps on spreading. People are looking for safe havens like Gold (has been increasing) and crypto (same).

[cryptex 623]

3 hours ago, Albert926 said:

China is one of largest investors if bitcoin  today in the world,  definitely it will affect the price if bitcoin all over the community 

Yeah, recent deap in price for almost all crypto  family seems to be related with spread of virus  at least prominent experts say that https://decrypt.co/20679/crypto-market-melts-down-as-coronavirus-spreads