COVID's impact on Crypto

How will the lose of jobs due to COVID-19 impact crypto?
It will make a greater divide around the world of the Haves & Have-Nots.
How will that impact the purchasing power, mining, and value of crypto?
I think people will buy less, consume less, stash their money and focus on bare essentials.
How will that impact crypto?
What’s the go-to crypto for short and long-term?

Due to loss of jobs (income) people might turn towards crypto for profits. I think crypto is powerful enough to bridge the gap between scarcity and abundance. I think purchasing power is greatly dependent on disposable income. During the 2008 financial crisis some people were spending abundantly due to their disposable income. Scarce assets increase in value over time, so with this logic I think the value of some decentralized (scarce) cryptos will rise. For making profits re-balancing the portfolio from time to time, I think is a great tool to increase profits. Algo traders manage to make 100X returns because they re-balance their portfolios. So the go-to crypto can change from time to time.

Please let me know your thoughts. Have a great day.

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Let’s be honest guys, I don’t think anyone knows what impact COVID19 will have on crypto. Only time will tell…

I think the big moves come from the big dogs. And the big dogs don’t have a job. It may slow the adoption of crypto a little bit??? :woman_shrugging:

I believe COVID19 will definitely impact cryptos for short time. Once, everything is on track, crypto is waiting for its next bull run. Countries like South Korea, India lifted ban on crypto. Major adoption from major players will be coming. Soon, the bull run would be combination of adoption, scarcity and bitcoin halving. Accumulate good coins. Sell shit coins.

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Covid19 impacted almost 200 countries. It means it even impacted crypto, I need to watch the price of bitcoin closely after the Halving.

It was not huge impact but there was impact again it bounced back now. Need to see how it goes

COCID-19 impacted the entire world and I believe that it’s impacted crypto 2020 bull run to happen little later than expected. In essence, it impacted the crypto in short term but not in long run.

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