Quote from: Kemarit on April 22, 2020, 01:11:34 AM

Quote from: vietnamoi.vn on April 21, 2020, 01:56:57 PM

Although Halving has come close, it seems that there is no optimistic signal that BTC will rise. Currently Corona Virus is making it difficult for the leading economies in the world. And is that the main cause of Bitcoin price drops? Let me give you some possibilities

Bitcoin is speculative asset, based on supply and demand.

Quote from: vietnamoi.vn on April 21, 2020, 01:56:57 PM

1. Unemployed people do not have income so they do not dare to invest in Cryptocurrency.
2. The psychology of fear that if we die by Virus and die, investing in Cryptocurrency will not bring anything when we die
3. In a difficult economy, investors need to withdraw assets and sell cash to maintain businesses such as payroll, purchase and sale of goods instead of investing in cryptocurrencies.
4. The disease has not yet been controlled, the economy has not shown signs of recovery, so investors are afraid of not participating in the Cryptocurrency market.

If we go on your reasoning, the pandemic or at least the fear in the crypto market took its toll last month plunging to $3800 but have you noticed that the market has bounce back already? If the Covid-19 has a direct impact to the market and again based on your logic the price should be 0 by now. But it didn't happened right?

In some part, YES, because some people are have no money to use in this lockdown so that bitcoin holders are forced to sell some of their bitcoin just to buy their necessities. It is not easy to sell bitcoin because you think that someday you will regret it but what can you do if you really need some fiat? You're the one who will benefit for it. Crypto market are crashing and demand of some stocks are also affected and people are having a hard time manipulating their coins. The reality strikes when we think that bitcoin is just important here in this world and you can't bring it when we die, that seems really accurate but people are still holding bitcoin instead of selling it and buy those goods that is necessary for survival.