It has been circulated that China has began a quarantine of its currency used to stop from the spread of corona virus. Concurrently, the crypto community started to take the news that using Bitcoin as a payment method should resolve a problems.
Futher cases have been confirmed for the epidemic outbreak
On February 13, Hubei district, where Wuhan is situated, reported a spectacular growth of number about 15,000 further cases and recently 242 new deaths in 24 hours after regional authorities amendments their procedure for diagnosing case. Dovey Wan, the co-founder of Primitive Crypto, allegedly on twitter earlier today that the government had not reported the actual amounts.
Recent BBC reports have announced 2,009 new cases and 142 more deaths. As provided by official data, the number of infected in the country is over 68,000, and the death toll is 1,665.
Consequences on the crypto market
The Chinese crypto mining facility that is being closed is unlikely to have any impact on the Bitcoin network hash rate. The network looks stronger than ever with hash rates steadily rising.
Mati Greenspan, the founder of Quantum Economics, added:
How it will affect Bitcoin’s price, I really couldn’t tell you. At the moment, I don’t feel like it is.
In the meantime, a spokesman for Bitmain mining hardware manufacturer said they did not see any effect at all.
Origin of Corona Coin
Although the crypto community has been contemplating on twitter that Bitcoin could be the solution to the spread of the virus through notes, the Corona virus-based ERC-20 corona-coin (NCOV) has been released. In addition, the goal is to spread awareness about the outbreak.
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