The world is running scared. Very scared. Since the outbreak of coronavirus Bitcoin’s value has dropped quite substantially. However before we get the usual naysayers shouting “death to Bitcoin”, the rest of the world’s markets are also in crisis.
All the markets are crashing
The DOW jones actually stopped trading for 15 minutes because it dropped too much. The whole world’s markets are unstable because of coronavirus because unlike other things that can be measured, the effect on the economy cannot be measured, this creates huge worldwide instability because no one knows really JUST how bad things are going to get.
The UK Government don’t help
When your health minister contracts the virus – it just shows the incompetence of the government in dealing with it. I think a huge fall in sterling is on the cards because the government are not swift or serious enough to make it happen.
Watch this space for more updates as the virus worsens. The medical professionals were talking about a peak of the virus in the UK in the next 2 weeks, this may result in a rally in the markets once the worst of it is over.
Whatever happens, Bitcoin will, like major world currencies recover when the corona virus is stabilised.
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