BTC - Crypto and the Coronavirus
What first seemed to be helping bitcoin may soon start hurting all of crypto...
The coronavirus first jumped into the mainstream in early January, right about the time that bitcoin was starting to catch a bid.
No one could say for certain that the two were related, but there was plenty of circumstantial evidence to suspect that the fear surrounding the coronavirus was helping to push bitcoin prices higher.
The safe haven selling point of bitcoin was said to be in full effect.
Fast forward a few weeks and what was initially positive for bitcoin may soon start to be negative for the rest of crypto.
Asian crypto conferences being delayed/canceled...
Due to the spread of the coronavirus many Asian based crypto conferences are being forced to postpone..
The latest being TOKEN2049.
TOKEN2049 is major crypto event held annually in Hong Kong.
It was originally scheduled for March 2020, but will now instead be taking place on October 7-8, 2020.
The announcement can be seen here:
“Over the past weeks, we have been monitoring the global developments around the coronavirus closely. Whilst Hong Kong is managing the situation well and has taken strict precautions to contain any potential impact, uncertainty prevails.”
(Source: https://medium.com/@TOKEN2049/new-dates-for-token2049-393542851bff)
They weren't the only ones to postpone.
Binance Blockchain Week Vietnam and Hong Kong Blockchain Week 2020 were also put on hold.
This coming from Binance:
“We sincerely apologize for the inconvenience caused by the delay. If you have registered for the Binance Blockchain Week, you can get a full refund through the event registration platform [...] We will inform everyone soon regarding further updates on this event.”
(Source: https://www.binance.com/en/blog/421499824684900390/Postponing-Binance-Blockchain-Week-Vietnam)
Neither has announced a new date as of yet, but they project to reschedule at some point later this year.
It hasn't seemed to negatively impact crypto prices yet...
It remains to be seen whether the virus will actually start to impact prices in a negative way, but the postponing/cancelling of crypto conferences is the first step in things moving in that direction.
For all involved, hopefully this is something they can get a handle on quickly before it causes any more harm than it already has.
Stay informed my friends.
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-Doc
The virus itself is not that big of a threat as past viruses have been far more deadly, and people have been taking steps themselves to protect from exposure. The excuse governments under the control of globalists will have to impose martial law will be the biggest danger.
Actually the virus is a much bigger threat than anything since the 1918 Spanish Flu. It is MUCH more contagious than SARS MERS and other recent outbreaks. Its as contagious as the common cold but 100x more deadly than flu. Also it puts 20-25% of sufferers in Intensive Care, quickly overwhelming health systems and hospitals. It also kill medical staff at an alarming rate.
But the biggest threat is the pricking of the massive bubble that is the global economy.
Maybe. I don't think I would trust the Chinese governments numbers or what is broadcast on US TV news though. I think this might be the globalists testing a virus for their plans to depopulate the world as Wuhan is the location of a chemical weapons lab.
Very likely it was genetically engineered and leaked from Wuhan biolab. But its not a fully fledged bio-weapon - that would be much worse.
When the facts point to either conspiracy or incompetence, always chose the later, it is far more common.
Yea I agree with comment above here, the virus is as contagious as the flu or cold yet far more deadly. That is the issue...
This pump and dump phenom occurs often in the crypto space.
True, but I don't think the current environment would classify as a pump and dump.
Exchanges and real us will be more of a help than conferences where nerds preaching to the choir.
Did you know that in Croatia you can exchange crypto for their local currency on 55 post offices all over the country?
....a meeting of crypto nerds? -It's probably the safest social event going, while corona virus is around.
It's not likely that they came into contact with any other people, for at least a few weeks before they set off to attend a conference, now is it?
LOL!
Nerds and meetings don't even belong to same sentence... Nerds are usually socially awkward and avoid meeting other people face-to-face... Anyone who pretends to be a nerd and willing to meet other nerds most likely is not a nerd at all...
You're right, but to get to the conference could be risky, hehe.
Ha, very true. Quasi-nerds...
I did not know that. Do many people go to the Post Office to exchange their currency?
It's a tourist country and most tourists exchange their currencies at the post offices.
Very interesting, thanks for the info!
I think it will help the adoption more than hinder it... especially as they close banks and place quarantines on visiting banks or ATMs.
We will find out. If the global economy comes to a standstill, it will be interesting to see what happens.
good info, man!
Thanks!
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