The impact of coronavírus in cryptocurrency.

The impact of coronavírus in cryptocurrency.


The world is experiencing a period of global crisis with the new coronavírus, born in Wuhan, China, highly contagious and deadly and it's expansion globally is also being noticed and commented in the last week's in various forums.

This new virus, that attack the respiratory system, has  taken down large numbers of people (estimated that 11 Millions are in quarantine), and the world was caught by fear and desperation.

Concerning  the Market, rumours have been noticed linking the actual prices of Bitcoin to the development of the virus, for now just acting more as a speculation!

The Impact of the coronavírus is going deeper further than a price speculation of BTC.

**I will be covering some of the topics, that I consider causing more impact in the crypto world.

1.Cryptocurrency Mining.

As the vírus is ongoing, and with the approach of the Bitcoin halving, the demand is huge with the mining equipment, the Mining companies are facing problems caused with the quarantine, and deliveries to the hardware machines are facing delays, and  companies such as MicroBT, BitMain and Innosilicon already came public to assume those "inconvenience".

The measures are being taken seriously to avoid new infection in China, as the Authorities go further in the Field, we can see the case of BTC.TOP Mining farm that was closed recently in that order of prevention!

Jiang Zhouer the CEO of Mining pool BTC.TOP published a video on his account, on the Chinese Social Media, Weibo, mentioning the incident.

He didn't mention where his farm location but, people who comment on his post argue that based on the images it must be in Wuhan, the epicenter of the pandemic virus.

For Zhouer, the authorities took an extreme measure closing the farm, as he noted that no one came in besides the workers and among them none has been infected, and was normal to leave it open and running, as closing it, will cause other problem to the workers leave them in a precarious situation and more poverty!


2.Stock Market.

The coronavírus affected direct the financial market, having a contrast between the astonishing bull run registered by the Bitcoin (BTC), with the fear, tension and desperation, the stock market is falling down!

This contrast can be also a hidden situation registering on the Cryptocurrency market but the imminent global Financial crisis is very possible, as China is the second most powerful economy in the world!

The coronavírus is a pandemic disease and the main problem is to prevent it to expand to more parts of China and the world!

Donations come to rescue the affected: Binance and Tron Foundation left their support!

The firm commanded by CZ, in their humanitarian work donated a huge sum to allocate it from purchases to medical supplies including masks, gloves, protective suits, disinfecting water, testing kits, etc.

The crypto Exchange company disposed 178k of those supplies that will be distributed to Wuhan and near cities, also the TRON founder, Justin Sun, asked the Tron community to support, to help the affected in more supplies such as medical gloves, glasses, water, food and more stuff that could help in the emergency situation.

Conclusion:

The situation is critical and the coronavírus isn't showing signals of retreat until now, Registered more than 560 deaths and more than 20,000 infected cases in China. 

This isn't a crisis affecting only the China territory and can be easily transferred to other nations, so the "word" of appeal is to stay alert and also support our Chinese Brothers with any kind of help they need!

Take care!

Republished Article Original found at Uptrennd Platform From My Authorship Here.

**Image from pixabay.com

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alberdioni8406
alberdioni8406

"...just me carrying the world" _Bitcoin Cash enthusiast _Crypto content creator Always @alberdioni8406 find me online...


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