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

[deepown 0]

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?

[deepown 0]

37 minutes ago, wilbertson said:

This virus had impact of the stock market as well, i do not see why on crypto it was just a panic, but your argument makes sense too.

I'm glad you see my point, that is the point of discussing matters, but let me conclude by saying if it gets to 8k anytime soon, then we both agree it was just a paic if not then your point was right.

[Upright 2688]

Many activities have been limited from this outbreak of the Corona virus incident, as industries, economic activity have had slow Downs as I've talked of this virus as also a major cause for this price dipping

[rekter 8129]

3 hours ago, 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?

There are several layers of bad news that cryptocurrencies have to fight against to keep their value. The fact that btc is staying in these levels makes me think it's heavily undervalued and naturally most of this has caused by panic and desperation.

[Ali_hmwi 966]

The panic is like the black Thursday that make the market as this now or even more the market will recover soon as possible they will not let that destroy the source of money .

[Laboni 755]

COVID-19 had a direct impact on crypto and it was intimidating. COVID-19 has had a direct impact on the crypto market, therefore the value of each currency has dropped and the market has gone down a lot. And the economy is being disrupted.

[Cammer 4609]

5 hours ago, 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?

Not just crypto currencies, everything was affected by the Corona Virus. That's why all experts are saying that the crypto market will recover after the end of this virus and that's what we're waiting for.

[Fedor00 74]

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 

[bliznec 22267]

It seems to me that cryptocurrency prices will continue to rise in value. The coronovirus is the one that displays and implements the government’s financial sector, the worse it does for the entire government. Soon, a crisis will come and it will be very hard for those who feel it. 

[malik6314193 5449]

6 hours ago, 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 think its not a panic. World market are crashing now a days so it also affects the crypto world. May be you are right but i think its not a panic. 

[teminalibug 309]

Don't be so sure that the prices are rising, it could go down to5k or even 4k anytime.

[Rares002 262]

I think covid 19 had a big impact on the market of cryptocurrencies. Because the whole world economy is affected by this pandemic and we are also talking about crypto market also 

[Honny143 13612]

Why are you think corona only effects crypto currency, you can't search stock market, you know stock market also goes down, its not a news its truth corona effects every thing its destroyed so many countries economy, but now crypto slowly bounce back with the effect of corona virus, don't think its roumer.

[Jessica Karren 1242]

I think Corona virus has not a direct effect on crypto market but it has created it's some impact  on crypto market. I guess the huge dump in the price of Bitcoin on 12 March is due to Corona effect.

[bitcoin-shark 1928]

the virus has actually influenced the markets investors have been afraid and bitcoin has fallen to $ 5k but now it seems all outdated and slowly the market (and bitcoin) is returning to normal, at average values...

[ComeBackIsrael 185]

I think that this is a common panic of people who have just started selling cryptocurrencies, thinking that due to the collapse of the market, the price of cryptocurrencies may also collapse

[Michael0606 861]

It was just panic, I reiterate Bitcoin is an extra-financial market, well all Cryptocurrencies are, the panic plus false news and movements of large companies and whales caused this fall, liquidating many people, now another false news plus the panic they wanted to liquidate  sellers did it, this is market psychology the basics of trade.

[kyoukage01 3181]

The coronavirus' primary impact was most felt in industries where there are congregations of people, like public transport, entertainment with live audience, bars and discos, etc. and the people who are forced to stop going to work most likely aren't being paid for their absences either. Among those people, there are some crypto enthusiasts that don't have the means to secure funds to buy crypto (some may be even forced to sell as well) and would rather spend their money on basic necessities than starve to death.

 

So the number of people dealing with crypto right now may have fallen to a degree. It would have a direct impact on crypto if this was the case.

 

10 hours ago, teminalibug said:

Don't be so sure that the prices are rising, it could go down to5k or even 4k anytime.

Agreed. I was actually expecting prices to rise suddenly if a cure for the virus has been found/developed, or if the virus' worldwide infection rate has died down with no chance of resurgence.

 

Edited March 25, 2020 by kyoukage01

[tienda 8776]

Yes of course corona virus has a direct impact in cryptocurrency market, but this impact because the global economic paralysation, for this reason all cryptocurrency market and all markets are in red.

[Wilmer Garcia 0]

I agree with your opinion also I think it was more than anything that was the panic that made that price drop but even that we are at a point where panic is more dangerous than the disease itself 

[George10 9932]

Looking at the way bitcoin price recovered from a dip low after the declaration of corona virus as pandemic I can say it was as a result of panicking about the news among investors that resulted to a massive sell off.

[Yunusalemu 0]

I would have to say that there is no such thing as a panic, 

the epedemic of the corona virus has really brought tge world to it's knees, with this virus having such an impact on the world they is no way you can call it a panic but an actual inpact. 

[teminalibug 309]

Just now, kyoukage01 said:

Agreed. I was actually expecting prices to rise suddenly if a cure for the virus has been found/developed, or if the virus' worldwide infection rate has died down with no chance of resurgence.

After the cure is found there is possibly bull run up to 15k for Bitcoin would occur.

[nickoman987 1040]

Hi, it was just an ordinary panic attack due to coronavirus. Even most likely the panic was due to the stock markets, but the stock panic was precisely due to COVID-19. Now it’s kind of panic began to subside

[teminalibug 309]

Just now, shovan said:

Coronavirus is affect on world economic. Many countries face big problems for virus. I think it affected the price of cryptocurrency. But now we see that cryptocurrency price increases day by day. 

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