Quote from: isaac_clarke22 on March 05, 2020, 08:30:43 AM

Quote from: South Park on March 02, 2020, 05:11:26 PM

In fact it is not really difficult to understand why this could happen, while investors and traders love volatility they hate uncertainty, we do not know the true potential of this new virus to affect our lives and that is why the stock market is going down, as such in times of crisis people prefer to hold cash just in the case something important happens they have the flexibility of buying what they need, in my opinion it was just a matter of time before we saw the price of bitcoin going down because of this virus but since the decrease is being caused by an external factor the drop in the price will at most last a few months.

It would be have a lot of effect in the stock market, but I don't see it impacting the price of BTC that much although we're kinda feeling the correction of the price right now. Many could have been panicking right now that they're now gonna start selling their crypto and all. In the end people would still just keep their BTC in their wallets as long as there aren't that much of victims in their countries from the virus. We might be down to 7k at its lowest from this issue.

When it comes to this new virus I do not see how bitcoin could have escaped its negative influence, the market is made of people and there are few things that are more scary than a new virus with an unknown potential to disrupt our lives, so it made sense that some people began to sell their bitcoin not only because of the uncertainty, at the time we had already reached the same price barrier that we reached months ago so the market was ready to go down anyway and the virus was the catalyst of the drop.