Quote from: hatshepsut93 on March 24, 2020, 02:42:27 AM

Quote from: SUMBI99 on March 23, 2020, 08:33:41 PM

But what makes Bitcoin price go down
As the spread continue people start to panic with the disease not Btc, thinking of many Negatives and some people exchange their Crypto to friendly fiat money so they can cover some emergency staff buys extra food, drinks, masks, etc, the simple view is that many sell result to cheapest sell which automatic kill the prices of an Assets.

The amount of people who sell their coins to cover their needs is negligible, what happened is that whales/speculators dumped their coins because of the panic on the stock market. So, coronavirus is actually the reason, it's just not a direct reason. Instead of coronavirus -> Bitcoin we have coronavirus -> stocks -> Bitcoin. But this correlation isn't fixed, if the stock market falls a little then Bitcoin doesn't care - it's not repeating every single move.

Isn't it necessary to sell bitcoin if you have nothing left just to survive this quarantine due to Covid-19? Sometimes you just need to sacrifice something, even your coins if you lack of resources as this lockdown is continuously active in our country. You can recover from your losses but it is hard to recover on what this virus can bring and do to your body. Yet we have no information about the cure to this virus and it takes time for it to discover so we have no idea when this pandemic will end. Whales dumped their bitcoin because they see how this virus affect our stock market most especially investors who also experienced downfall in their investment. But I believe that after this virus, everything will go back to its normal state and the price of bitcoin will soon grow again from $7000 to $9000 and above.