Big Yes, as Coronavirus is affecting each and every market due to no sales, no transactions, no involvement of any kind business which resulting into cryptocurrency crash and we already witness shutdown market, offices, workplaces, restaurants, and many public places, now the following answer considering top coins i.e. Bitcoin is already dropped to below $5k USD and other top cryptocurrencies going to drop below its launching price, as in crypto market going below launching price, so investing into that cryptocurrency will give more than 300% profit from the invested money, so the investor is still waiting for more price drop which may last till the end of April 2020 and after Coronavirus starts disappearing then the market will start going up and along with this investor will start investing which result into Cryptocurrency Bounce Back to normal pricing.
as share market is also started clasped and reaches to lowest of its price, so there are no good news coming from both side, as in china fewer markets will be reopening if and only if there is lower cases of coronavirus, as Trump announces shutdown of many important cities to stay safe and there many banks declare holidays to their employes so mostly online payments are working fine, as countries like Italy, China, United States, India, Iran, France, Spain, Germany already have more than 1000 confirmed cases, so the government taking tough action and also restricted travel.
Will Crypto Go up in 2020?
The 2020 year till February was pretty awesome for cryptocurrency but just a few days turning into one the most disastrous year since 2017, as bitcoin already dropped it’s the previous lowest price of $4400 USD mark and if this daily dropped rate of average 20% continue for few days then something more disaster will happen, as we mentioned above we need to wait for the things to settle down, as it’s very hard to predict when will it start recovering, but in the crypto market, if there is a huge crash in the market then something positive will happen, now investors you need to keep watch on coins who maximum supply is not nearer to calculating supply, because once it settles down a number of each day investment will be rise resulting into a shortage of supply and it may affect future price growth.
On twitter, many top investors and cryptocurrency expert are worried about cryptocurrency market and some of them are predicting that Bitcoin may touch $1000 USD which is lower than June 2017 where most of the people don’t even know about Bitcoin and other cryptocurrencies, but many cryptocurrency owners not ready to accept cryptocurrency crash as they still believe investor is still same and market cap value is still same but a number of new investment are very lower than previous days, so after watching this is not the only thing that affecting market but most of the cryptocurrency is based on product and if there is no sale means there is no fluctuation in market result into price dropped.
Cryptocurrency Crash Report
This is not first-ever cryptocurrency crash as previously back to back banned from one of highest populated countries i.e. China and India all cryptocurrency was almost dropped to half of its price and that time Bitcoin was on the moon by crossing $20k USD mark and many other cryptos already hiked by over 500%, but that crash last for more than 1 year and it started recovering in 2019 and then at beginning of 2020 Bitcoin is already crossed $10k USD mark and other top coins also on the way of rising and then the long-awaited decision on cryptocurrency future in India has been taken by the supreme court in which Indians can trade cryptocurrency and that day market shakeup was seen but still crypto market still not able to stand against coronavirus.
a few days back taking advantage of coronavirus trending news the new cryptocurrency is launched i.e. corona coin in which are also dropping with huge percentage after a few days of good growths in price, as they are claiming our motto is to spread awareness to the public and also stated that the number of affected people increases then price of corona will increase, so newly launched coin also facing this crisis.