Post
Topic
Board Bitcoin Discussion
Re: Bitcoin declined 3% as the coronavirus spread in italy
by
bearexin
on 02/03/2020, 20:15:28 UTC

https://cointelegraph.com/news/bitcoin-traditional-markets-drop-3-as-coronavirus-spreads-in-italy

As the coronavirus spread in Italy recently, bitcoin market has dropped 3% and also the traditional market including all the top ranked cryptocurrencies. Can coronavirus spreading be the cause?
I think this Corona virus has affected bitcoin in some ways, though I can’t really tell what they all are exactly, but I know for sure that it has been affecting the mining of bitcoin in China. Saw a news that the government ordered the police to shut down some mining farms, there was a farm that was shut down recently.

In one way or the other this must have affected bitcoin price since China mines more than 60% of the bitcoin network, so for sure it’s going to affect bitcoin price. There might be other ways that it could be affecting that I don’t know yet. Almost every market was affected by this Corona virus, if not all, though I expected bitcoin to act as a safe haven, but I was disappointed.