What could be the effect of Corona virus on crypto industries?

[nasima begum 00]

It has drastically crashed stock markets worldwide.
and we can see more 20% downside in stock market before april end.
but bitcoin and other top currencies are already at its bottom level. we cannot see more correction in it.
and due to stock market crashes, again people from stock markets attracted towards crypto currencies.
moreover India and Korea and few other countries have started to take step to legalise this industry.
so, we can see 10000$ bitcoin before may end again.

It is my analysis only according to my forex and crypto experience.
experts can give their suggestions to bring proper conclusion.

[MaryJane420]

10 minutes ago, nasima begum 00 said:

It has drastically crashed stock markets worldwide.
and we can see more 20% downside in stock market before april end.
but bitcoin and other top currencies are already at its bottom level. we cannot see more correction in it.
and due to stock market crashes, again people from stock markets attracted towards crypto currencies.
moreover India and Korea and few other countries have started to take step to legalise this industry.
so, we can see 10000$ bitcoin before may end again.

It is my analysis only according to my forex and crypto experience.
experts can give their suggestions to bring proper conclusion.

if there is a virtual corona virus that will really effect crypto!   

 

sorry - read my name so HIGH 5

[Ali saher]

I think Corona virus not affect so much crypto currency just this virus affect to worldwide stock market. I think crypto currency going more up and so many new investors come in crypto currency.

[Salsa]

The effect of corona virus on crypto currency is very high as we face ot now. The stock market goes down. All the crypto currency price low down like btc,etc,ltc at least on all currency.....trader are now on lose as crypto world now on danger of corona effect guys. Hope you understand

[Aiza824]

16 hours ago, Ali saher said:

I think Corona virus not affect so much crypto currency just this virus affect to worldwide stock market. I think crypto currency going more up and so many new investors come in crypto currency.

Do not be fooled. Coronavirus is exogenous. What good would it have if money where it gets converted loses financial value even it increases in digital value? The entire economy we are dealing with still revolves in real money so even if BTC gets a hype from investors choosing it as a safe haven, when this coronavirus thing is over, everything will fall down again. Worse, investors might not even feel any sufficient confidence to use BTC in these perilous times because the market is demanding tangible resources to combat the virus which BTC can never provide thus, making the cryptocurrency value drop even more if the pandemic lingers its devastating effects (lockdown) longer.

[Sunskid01]

It already have impact on it, that's the reason why the bitcoin price went down seriously.

[Ajel]

Hello, I think the crypto virus will have a huge impact on the crypto industry, because everything is closed because of the corona virus, the market is down because of this virus, so corona will have a detrimental effect on the crypto industry.

[Babacomputing]

Corona virus has damaged a lot of economies including the crypto economy. Bitcoin has crashed a lot and we hope that it will be back on track soon

 

[StackGod]

In times of a recession, it's usually luxury goods that are hit the most. Non-essentials. Crypto is a luxury and is non-essential to most people. You can buy food and pay taxes with the US dollar - with bitcoin, you can't. If this recession worsens, you can bet that Bitcoin will collapse in terms of price, at least temporarily.

[fdokfo]

Not sure about community but gamblers are very badly affected as there are no games going on and the esports is good but very limited.

[iulianbutanu]

it was an issue when the pandemic started as companies with assets in crypto, cause of the lack of liquidity from assisting the stock markets crash, they sold the crypto for faster payouts. now that china is back in the game we can clearly see that there are way better changes in the price and it is stable again arround 7k usd. anyway, the crypto market as the whole world is atm, it has a big issue, a big crash and there is nothing we can do. just wait until this virus will have its cure.

but dont forget 50 years later, hiv has still no vaccine.

[sahil777]

so till today as we say coroana didnt made much impact on crypto world, though it was drowning in start but then it came back to its price and now its stable for a while, but in coming days there will be a bitcoin halving, that can be a huge factor in price of bitcoin and other cryptos, but not coroana anymore.

[evet]

Should this be in the technical section ? Im not sure myself. In regards to the covid, I think it really affects everything negatively, and surely everyone agrees. No one want this virus, hope it dies out.

[itconsults]

When the corona virus became pandemic, all markets fell down and it also affected crypto market but soon, the market started to regain its position. If we see the price chart in March 2020, the prices of coins were very low but in April, the prices are going up and now trading is at peak. We can hope for the best and hope this virus will end soon.

[BidaManEris]

Investors are just using the cryptocurrencies to protect their assets from this recession and not really putting real trust on it. Once the recession and pandemic is over, that's the only time we will know the damage it can deal against BTC.

[Killlm]

I don't know if the crypto industry will be affected by the tax virus, but the stock market around the world has stalled for Corona, many have suffered huge losses in the stock market, but those who have invested in cryptocurrencies have also suffered some losses, as cryptocurrency prices fell, but Corona left.  As investment in cryptocurrencies increases, so will pressure on the crypto industry