Recently, Coronavirus (COVID -19) is hitting to terrific numbers and spreading around not only in China, but all across Europe and Americas. Latest predictions say that Coronavirus will continue to evolve till the weather reaches to 27 degrees in Celsius (80 F).
Apparently, Coronavirus has nothing to do with the current price of Bitcoin at all.
As what rumors say, Jamie Dimon (CEO of JPMorgan Chase) was supposedly wishing the attendees of the World Economic Forum to get infected with Coronavirus. According to CNN news he even was sarcastic saying “The only good news from that is that it might have just killed the elite”. As a matter of fact, he proves to be one of the main “anti-cryptocurrency” activists and a well-known bitcoin skeptic.
On the other hand, Max Keiser totally contradicts to Jamie claiming Bitcoin will hit $100,000. Jamie will start begging the Federal Reserve for money to buy some Bitcoin.
“He’s confusing the coronavirus with the Bitcoin virus; the same thing with Peter Schiff,. Their minds are being hacked by the Bitcoin virus. Soon Jamie will be a blathering idiot on the ground begging the Fed for money to buy Bitcoin. He’s going to turn into a kind of street urchin.”
Overall, coronavirus at the moment might affect in the volume of daily transactions drugging it down. Which basically means people will start buying long term food instead of buying cryptos.
However, this will not last longer, since several vaccine producing firms are coming to the market because of coronavirus outbreak.
According to AB Bernstein, the vaccine industry has consolidated to four big players that account for about 85% of the market these days. These firms have jumped into the race to combat the deadly coronavirus, working hard on inventing vaccine or drug programs.
Yet, any commercial treatment for the coronavirus could be years away.
In the podcast below provided by CoinDesk you will learn how Coronavirus Impacts on Bitcoin.
In parallel the podcast covers the following topics:
- Ongoing slowing rate of hash-rate increases in the 2020 halving and the bitcoin mining industry
- Uncorrelated and risk asset narratives as the price of bitcoin (BTC) bounces defies expectations
- How society thinks about money (cryptocurrency vs fiat) in the wake of a highly transmissible global disease
- Plus a brief primer on virus families.