I think what is happening right now is a crisis with many faces or aspects. The most obvious is the health aspect, of course, as this crisis is mainly due to the spread of COVID-19 but the next obvious aspect of this crisis is the economic aspect. Right now, COVID-19 is affecting the health as much as the economy of the world. Even at the earliest days when the presence of the virus is mainly focused in its epicenter in Wuhan, China, the global economy is already significantly affected. For me, it is not one crisis following another. It is vividly clear right now that economic and health crises are happening at the same time. You cannot contain and fight this virus without hurting or sacrificing the economy.
You can, if you take The Netherland's path. However, I don't think that'll last very long until they'll need to sacrifice theirs.. but each country has their own interest and now we have two choices: sacrifice the economy and save lives or save the economy and sacrifice lives. Simple as that.Very tough times are coming. What we've seen is just a little spark of what's to come.
I had read time and again people saying Bitcoin is made for this. If I honestly say..then, I believe in it. I believed in the Bitcoin market being independent from the fiat market and the rest of the traditional markets. And then the virus quickly grew from a domestic outbreak into an epidemic and eventually into a pandemic.Now, it has stirred the world's norms and subsequently created a new normal. It has created a crisis, not just a health crisis but also an economic crisis, social crisis, even religious crisis. And then the graphs are showing that Bitcoin is not really something totally independent from global events and crises. This crisis and destruction right now is a test for Bitcoin and somehow it has shown the fragility of Bitcoin; that Bitcoin, although said to be a currency that counters the tendencies of the old fiat currency in the face of an economic crisis, is itself moving with the mainstream flow.....
Nothing is independent from the global markets in our case. If global panic starts, it starts in all the markets too.. be it the most precious materials, Bitcoin or stocks. Bitcoin is moving approximately the same path gold and silver are too if you pay close attention to the charts. As I said days ago, this is the time for Bitcoin to decide which path to take: safe haven or no?Things will get volatile as fuck. Get used to it. It's the new normality.
