Did COVID-19 had a direct impact of crypto or was it just a panic?

[MCSGlegend 2210]

I think that if the coronavirus affected the price of cryptocurrencies, it is very insignificant, now in China almost 90% of people do not get sick with the virus and so far bitcoin is not starting to grow up.

[deepown 0]

2 hours ago, Anwyll Axel said:

I think COVID 19 had it's direct impact on crypto market. Remember when this disease is officially announced as pandemic by WHO, the price if Bitcoin suddenly dumps to 3k dollars.

But that news alone could cause a major panic, it only takes news to make people panic.

[Ali_hmwi 966]

On 3/24/2020 at 5:08 PM, Fedor00 said:

Corona had an impact on the investors and this caused them to panic and sell their cryptos. That's why the prices went down. But now it seems to be stable again 

I am really see the great features of Bitcoin one of it that every one can buy and sell from his house that what lead to the future of Bitcoin first sell was for the money now all buy and sell in the regular ways so that is the moment to reinvent in Bitcoin.

[kyoukage01 3181]

18 hours ago, DanCHill018 said:

The COVID-19 pandemic has dealt the world economy a painful blow. The currency crisis also affected cryptocurrencies. The bitcoin exchange rate began to decline at the end of February, and on March 12-13, there was a real crash. For a short period, bitcoin fell below the $ 4,000 mark, thus losing more than half of its value.

Good thing Bitcoin has proven once again its resilience in the face of a crisis, seeing that now its prices has risen up a bit. But we're not in the clear yet, since the pandemic is still out there, and we might experience another price crash in the following weeks.

 

10 hours ago, teminalibug said:

It affected the world economy yes, But what does crypto have to do with the world economy?

Other than primarily an investment tool for most users? Not much, for now. But it soon will be, that is the reason why we crypto users are advocating its global acceptance 😉 . For now, we just need to survive until this pandemic is over.

 

[Whited35 15285]

I believe it has directly affected the mood of the investors to give the uncertain impressions for the market of the crypto holdings. Every financial sectors are badly affected by the COVID-19 virus so cryptocurrency also got affected from this virus. 

[harzallah 161]

SURE as we can see now the bitcoin from 9000 dollars after this coronavirus he down into 3800 dollars but the unblivebale thing we expect after corona the bitcoin will be up but the opposite.

[teminalibug 309]

Just now, Reostra77 said:

the system for corona virus cryptocurrency has no direct impact but it makes economic activity in many countries paralyzed so that the demand for cryptocurrency decreases and makes many people sell their assets

We are not talking about those corona coins, we are talking about the effect of actual corona virus to crypto economic. and for those coins, i see them as coins of bad faith.

[deepown 0]

46 minutes ago, Shanju said:

the whole international economy is stricken by this pandemic and we also are speakme about crypto marke

The whole market have been directly touched by the pandemic, bit i think crypto market cannot be affected because things like this affects economy of the county and economy of the country is not vested in crypto.

[NevermindNe 549]

I think that the virus really affected the cryptocurrency, many people began to panic and sell all their coins, and so the market began to fall on the 10th of March.

[deepown 0]

4 minutes ago, NevermindNe said:

I think that the virus really affected the cryptocurrency, many people began to panic and sell all their coins, and so the market began to fall on the 10th of March.

So which is which, you said the virus real affected the crypto market and then you said it caseedc panic, or you mean both?

[Ms.o 3322]

Covid-19 crisis made large impact on everybody,it also affects all businesses or industry including crypto and made it drops so much in price but now crypto are slowly increasing somehow due to panic also or maybe because china is getting back to their work now.

 

 

 

[BTC Future 3946]

Coronavirus effect has to do with production and supply chains. China GDP was probably down by at least 25% for Q1. We might have even larger numbers for the western economies and in some even 50% minus GDP is a possibility. This means that economies are collapsing and can't handle the effect. There will be much worse things to come from the virus itself.

[deepown 0]

On 3/28/2020 at 11:48 AM, kosovali ali said:

Many activities were limited when the Corona virus event started, because industries seem to be a major cause of this price drop, due to the slowdown in the economic price. Even banks had to go on vacation. Are you aware that some countries are about to sink. Of course it will have an effect.

Maybe crypto could heal these countries in recovering theor economy if they use it.

[Opinder 1310]

Due to coronavirus the economy is shutdown. And people collect cash in this period because they know in crisis they would face money shortage. Thus they are selling their crypto assets. So it is direct impact of coronavirus on crypto.

[rianpedia 816]

 

17 minutes ago, Opinder said:

Due to coronavirus the economy is shutdown. And people collect cash in this period because they know in crisis they would face money shortage. Thus they are selling their crypto assets. So it is direct impact of coronavirus on crypto.

All crypto users panic and run out of money because of a lockdown in their area but income depends on crypto. with so many sales, crypto will also go down.

[deepown 0]

4 minutes ago, hawrepius said:

This must have something to do with Covid-19, well, indeed, some of the factors that occurred before it could be due to the corona virus or the panic of investors who sell it for fear of heavy losses if not stopped-loss.

We know that bitcoin was pumped from $ 5k to $ 6.7k with the increase in bullrun knowing that bitcoin will stay at $ 6k but there are also speculations that bitcoin will soon increase after Covid-19 is gone.

I hope after covid is gone it will not just be an increase, but a panic to buy more and in results we have bull run.

12 minutes ago, sumitshet said:

That's the only panic of investors, they fear to loss their quantity without any profit such as, and it is mostly effects on all other markets also like stock market

I have been observing the stock market, in the time crypto market is struggling up., it actually goes more down.

[Fedor00 74]

On 3/28/2020 at 10:55 AM, Sirlabo999 said:

I think the covid19 is somehow helping the Crypto currency because at a point in time, the price drastically reduced but now it's up again more than 100% of the price it reduced to                                                                                                                                           

What are you talking about? Before bitcoin crashed the price was over 7000$, even 8000$ at one point. Now it is only 6000$ and it is even going down so it didn't help it. 

[deepown 0]

On 3/28/2020 at 11:55 AM, Sirlabo999 said:

I think the covid19 is somehow helping the Crypto currency because at a point in time, the price drastically reduced but now it's up again more than 100% of the price it reduced to                                                                                                                                           

That is not true and you say crypto recovered 100% that means bitcoin should now be 10k again, but is is still 6k, what do you mean by 100%?

[Marraj 2]

Thank you for this purposeful and beautiful question, Covid-19 has made people divide into two parts in the crypto world. The first section was afflicted with despair and fear, and unfortunately, they put out hope and persistence. The second section found a ray of hope in the world of cryptography as a result of the recession that prompted and stopped daily work, and this increased hope and persistence and made many people develop their skills in the world of cryptography and trading .. There is no impossible .. I wish everyone health and wellness, sorry For long

[magd 5231]

It is not a panic and not a direct impact either, as the Corona virus did not directly affect cryptocurrencies, but it stopped commercial movements and all social activities, which reduced the percentage of dealing in cryptocurrencies and the cause of economic stagnation. In addition, the virus affected companies that were offering sale and purchase in cryptocurrencies and stopped them, leading So for a low price

[Hatred 1388]

On 3/24/2020 at 5:27 PM, deepown said:

You can see now the price of major coins is increasing despite the fact that corona virus is still on it's best.

Makes me argue was it just a picnic of investors, or corona had real direct impact on the prices of cryptos?

What do you guys think?

I also think that it is just the panic of the investors why we experience the sudden drop of bitcoin's price. Well, in fact, it is not new to us that bitcoin is always dropping after it pumps. But because of the event, which is the coronavirus scare, all of us got panic and that's the main reason or the panic has direct impact on the price on all cryptocurrency.

[kadayakito 765]

corona virus affects cryptocurrency, it's super dangerous and hinders, affects everything, the economy of every country certainly has an influence. I was so scared when I announced the corona death. corona only affects cryptocurrencies in part, it's not big.

[deepown 0]

4 hours ago, Jay8 said:

it has a direct impact because the stocks started falling and the investors were loosing confidence and looking for a way to take out their money asap

Lose confidence in what eaxctly if ot was nit just a panic, what made them lose confidence?

[deepown 0]

9 hours ago, Hatred said:

I also think that it is just the panic of the investors why we experience the sudden drop of bitcoin's price. Well, in fact, it is not new to us that bitcoin is always dropping after it pumps. But because of the event, which is the coronavirus scare, all of us got panic and that's the main reason or the panic has direct impact on the price on all cryptocurrency.

It normally drops after it pump yes, but not as much as it just did thid time.

[Laboni 755]

I think both existed in terror and influence. The price of COVID-19 is high on the crypto market because everything is expensive. The market has never gone down this way. Because of the Coronavirus, everyone is panicking because they are leaving the crypto market.