Post
Topic
Board Economics
Re: Virus Bear Market?
by
The Pharmacist
on 01/04/2020, 19:08:05 UTC
Government saying this virus hype can last till next year, meaning Btc crash will be sustained to new lows this year similar to a virus bear market till next year when the virus fear hype is over?
Whatever government is saying that might be correct, but that doesn't necessarily mean bitcoin is going to keep dropping.  There was an obvious correlation between the outbreak and the slump (in the stock market as well), but I don't think it's going to be prolonged.  In fact bitcoin seems to have stabilized around $6200 for the moment, and the way I see it the "crash" could have been much worse than it actually was.

People are selling all sorts of assets to free up cash, and that's all being done out of fear, but smart investors see times like these as good buying opportunities.  And obviously some folks have indeed been buying bitcoin--if they weren't, I'm pretty sure the price would have dropped much lower.