As the world is preparing for a second wave of Covid19 panic and mayhem, how will our investments fair?
Stocks are taking a nosedive today with bluechips like the FTSE, DAX and Wall Street bombing between 3% to 4% each. Take a look at my daily trades and charts below:
Same thing happened the first time around, but what will happen to our beloved crypto holdings?
Well, we saw most coins and tokens depreciate in the same manner as regular stocks and shares, but not quite so heavily. Many top 20 coins weathered the storm remarkably well.
But a bonus to, for and from the world of Crypto, which is arguably more important than profits, has come to the fore as across the world, more than 9 million people have contracted the COVID-19 virus, with about 485,000 deaths so far. Many governments are struggling to cope causing economic activities worldwide to grind to a halt. With the coronavirus pandemic causing disruptions in every walk of life, crypto donations appear to be increasing.
Crypto and blockchain firms are rallying to aid adversely affected communities. The border-less nature of cryptocurrencies is once again showing its potential, allowing individuals and businesses to send funds to organizations coordinating relief efforts across the globe. It's an excellent example of how effective a decentralized economic system can be
What an incredible opportunity for blockchain, particularly DeFi to shine and prove to the masses how beneficial it can be to the world as a whole!
DeFi networks will allow anyone to access finance tools irrespective of their citizenship, location, wealth and status. It will promote financial inclusion and will allow people without access to traditional banking to get access to services like loans, without the regulations imposed by banks or governments. Or crippling interest rates! And with near instantaneous transaction speeds, the help and funds are there when they need it, with the user of DeFi remaining in control over their new financial assets instead of a centralized institution like banks.
The future is bright, beyond the fog of the current world crisis, and it's there for everyone!
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This is true could all asset be on a bear movement