The Bitcoin price has crashed

[tervel]

The Bitcoin price has crashed below the $5760mark.Peter Schiff, the famous Bitcoin hater, has compared Bitcoin with a sinking ship in his recent tweet, stating that ‘the air continues to come out of this bubble’.What is your opinion?

[CoinCode.sh]

HI,
Probably a whale wants to buy more BTC at the lowest price available.
Regards,

[Octoalts]

This is a big storm for Bitcoin traders, whoever is weak will surely collapse. But whoever is strong will surely win.  Prices have fallen too deep, it's time to buy and invest. Forget those who hate Bitcoin, because they don't know and have never felt the benefits of Bitcoin.

[comer]

The horrible effect of proclaim pandemic disease covid-19 has a big influence of the continue falling of Bitcoin in the market. People are now focusing more on health issues rather than given attention to any investment in the market. Trillions of money we're loss because of the disease and Bitcoin is not excepted on it. Even world economy is at stake, many companies have shutdown and the roll of money and services in the economy we're greatly disturb because of the continuing onslaught of covid-19 in the world.

[tervel]

The problem comes in a moment when people get scared from coronavirus, when there is a global recession like that, they pull back their investments, and they’re going to pull back from crypto too.

[mlawson71]

Yeah, that appears to be it. Time will tell how long it will last and how bad it would be.

[Fenix]

The price of bitcoin has plummeted, as people now need cash in connection with the measures taken to protect against the spread of the coronavirus and they exchange cryptocurrency for cash. It is unlikely that the fall of the cryptocurrency market comes from the deterioration of the global economy. The cryptocurrency market is very sensitive only to a change in the ratio of supply and demand. Therefore, the drop in the price of bitcoin is temporary.

[Uina]

^That's also what I think. People only need to buy necessities so they tend to exchange their crypto assets into fiat so they can use it. Unfortunately, most of the investment has a low value these days because of the decline in prices. I hope this would really be over soon.

[kevinjulio]

In one day Bitcoin and all crypto coins have fallen. This is a very bad condition that affects investors. Not a few people lose money because of the decline in crypto-asset prices.

This happens due to a lot of bad news regarding the Corona virus. Corona viruses are currently already pandemic viruses after WHO announced a few days ago. I hope that with this kind of condition can be used to invest from scratch.

[sirty143]

~snip~

This happens due to a lot of bad news regarding the Corona virus. Corona viruses are currently already pandemic viruses after WHO announced a few days ago. I hope that with this kind of condition can be used to invest from scratch.

 

Yeah, maybe you're right because Bitcoin holders (other cryptos also) are selling their coins due to COVID-19 coronavirus fears. I think they need cash rather than holding extremely volatile assets in their crypto wallets.

Price of Bitcoin as of this writing: $4,882.84 USD (-8.40%) ... source: CMC

[mlawson71]

True. This crash won't end here, this crisis is far from over.

[alltalk]

You know what? Today the decrease has been around -11.18% (Change in 24h). I rarely saw a big decrease like what's happening today. Be careful if you have a plan to buy. It probably continues to drop more. 

[Master107]

You know what? Today the decrease has been around -11.18% (Change in 24h). I rarely saw a big decrease like what's happening today. Be careful if you have a plan to buy. It probably continues to drop more.

If there are someone planning to buy bitcoin? I think this is the right time to wait further drops due to panic trading. It is possible that holders are turning their btc into fiat because of lockdown. this is the perfect time to use the money and buy the necessities before it's too late.

[tervel]

Cryptocurrency investors can expect to continue seeing price swings.Will have to take a more concerted effort to unify bitcoin users with a common purpose in order to smooth out the cryptocurrency's price action going forward.

[Knightenno]

that's too bad...