What could be the effect of corona virus on crypto industry?decrease or increase

[PALM]

basically it has drastically crashed stock markets worldwide.
and we can see more 20% downside in stock market before april end.
but bitcoin and other top currencies are already at its bottom level. we cannot see more correction in it.
and due to stock market crashes, again people from stock markets attracted towards crypto currencies.
moreover India and Korea and few other countries have started to take step to legalise this industry.
so, we can see 10000$ bitcoin before may end again.

It is my analysis only according to my forex and crypto experience.
experts can give their suggestions to bring proper conclusion.

[Mr. Cid]

The COVID-19 has infiltrated worldwide since last week. It began in China, but the mystery remains how the COVID-19 outbreak started. Since then, most of the trading currencies have kept on bouncing.

[AbdulShiek]

The COVID-19 could paralyze our economy. Most of the countries are making efforts to support their people from hunger. China is the only country that has been making billions of money because they are the one who supplies Personal Protective Equipment around the world. The effect on the crypto trading currencies would be bigger. People are taking away their money from the crypto market to support their personal needs.

[Newbie_trader]

The COVID-19 could paralyze our economy. Most of the countries are making efforts to support their people from hunger. China is the only country that has been making billions of money because they are the one who supplies Personal Protective Equipment around the world. The effect on the crypto trading currencies would be bigger. People are taking away their money from the crypto market to support their personal needs.

Some cryptocurrencies have been affected by the current situation but not Bitcoin. As you can see, Bitcoin has managed to increase its value from 0.76% to almost 3% in one week. I think we have to avoid making comments that cause panic.

[Alexthedefender04]

Obviously based on what we have been seeing the Corona virus brought a negative impact to the crypto Industry as well as to the many business because of it's lockdown from different part of the world and maybe this is one of the most problem because the industry of the cryptocurrency is currently facing a big problem due to this pandemic virus.

[sashavich04]

The whole world is in shambles right now. Only the skeleton of the economy is up and running, mostly from food and healthcare industries and nothing else. As you can see, everyone even in the stock markets isn't doing pretty well. The prices for crypto is also currently doing sideways, with little dips here and there indicating that there's not much going on. Volumes are also on the low across all exchanges and frankly everyone seems to be just busy surviving day by day. I do not expect any major movements for bitcoin or any other crypto in any way in the nearest future, seeing how dead everything seems atm.

[darexgeorgieviya04]

Although it is too early to predict the effects that the Covid19 will leave and that will be negative in a large percentage. Being optimistic I could see a slight increase in the crypto industries.
We need FIAT to us be sure in this time of public health crisis that will turn the economy upside down and that is synonymous with unemployment and falling prices.

[AbdulShiek]

Although it is too early to predict the effects that the Covid19 will leave and that will be negative in a large percentage. Being optimistic I could see a slight increase in the crypto industries.
We need FIAT to us be sure in this time of public health crisis that will turn the economy upside down and that is synonymous with unemployment and falling prices.

The effect of this pandemic in the crypto market is it could decrease the number of investors. Some people wanted to withdraw their funds for their survival. The unemployment rate will increase because we are encouraged to stay at home.

[Sendo12]

The effect of this pandemic in the crypto market is it could decrease the number of investors. Some people wanted to withdraw their funds for their survival. The unemployment rate will increase because we are encouraged to stay at home.

I agree with you. When the current income is not enough anymore, we will not have any other choice but to withdraw our fund. Thankfully, my company allowed us to work from home, thus I still earn my income. And with this, I am not touching my crypto investment.

[Aya]

If we look at the trend in the movement of Bitcoin price, we can clearly see that it is surviving well despite the pandemic. What I am thinking now is that if there is no pandemic, then maybe Bitcoin would thrive even more.