Only last October, China’s President Xi Jinping made a short-term price increase of 40 percent with his positive comments on Bitcoin. In the past, however, disclosed hacks from crypto exchanges or government bans on digital currencies have caused prices to plummet. Therefore, the assumption that the negative messages about the coronavirus also have an impact on the course would only be logical.
Expert Explains Bitcoin Surge Amid Coronavirus Outbreak
However, neither the official closure of the mining pool BTC.top, nor the cancellation of some crypto conferences, could actually have a negative impact on Bitcoin and most altcoins. With the cancellation of the HongKong Blockchain Week, the Token2049 conference and the niTROn2020, several important events were canceled at very short notice. However, most cyber currencies have skyrocketed since the beginning of the year. Bitcoin, in particular, is returning to values above the $ 10,000 mark after a long losing streak.
It is therefore clear that the effects of the pathogen affect the currencies rather than the people themselves. So far, however, the effects of the disease have not yet been so fatal that the reports could have a serious impact on cryptocurrencies.