Quote from: The Pharmacist on April 01, 2020, 07:08:05 PM

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.

bitcoin is still down much more than stocks. the dow jones is down 29% vs 40% in bitcoin.

i'm sure this is a buying opportunity but this is the age old problem of dip buying---where is the bottom? the stock markets lost 50-60% in the 2008 crash. it's possible we won't reach the "blood in the streets" stage for another 6+ months, which means current prices may not be a bargain at all.