Bitcoin Under $5000 Again? How Low Will We Go?
Resisting FUD in a Pandemic
On this episode of....
[CVOC (JACKSONVILLE, FL) Original Posted 03/15/2020; Last Updated 03/17/2020]
Story by W. Paul Alexander
COVID-19 UPDATE THREAD
Since the WHO's announcement designating "COVID-19" a global pandemic, there has been no shortage of supply of the characteristic Fear, Uncertainty, and Doubt (of course, FUD).
Bitcoin initially dropped under 8K, and then the massive drop to under $5000 happened for the first time. Then, crypto markets rallied for a day or two, seeing the value go back over $5500 for awhile, until further Pandemic Restrictions were placed on restaurants, bars, gatherings, etc., at which panic in the market caused a massive sell off to take BTC back to under $5,000 BTC/USD, resulting in further panic.
This type of knee-jerk reaction in financial markets almost always spells doom. We need to make sure the we do not lose all market capitalization and fade from memory as "an ambitious project the world just wasn't ready for." Like the Apple Newton MessagePad.
Don't let Bitcoin be the MessagePad of the 2020's. Shore support and confidence back up so that Bitcoin can become the safe haven it has purported to be.
This bizarre story describing BUSINESSES SELLING HOMEMADE HAND-SANITIZER AND POLICE RAIDS SEIZING IT, in which the culprits were discovered after neighborhood children reportedly were the victims of chemical burns, is just one characteristic example.
Fake Hand Sanitizer that will Net Its Burned Victims Huge Lawsuits Against 7-Eleven!
A quick look around any news site will give you a list of precautions you should be taking, a list of the latest disruptions in American life, and many other alarming headlines that seem like they have been ripped from the story-line of 28 Days Later.
None of this has been more prevalent and markedly visible than in our very own cryptocurrency communities, where built-in volatility that is characteristic of any new asset category has widened to levels that have had many investors fearing a massive sell off of BTC.
In another article, I posted pictures of the empty Wal-mart aisles that we have all heard about.
You can find that article here: I WENT TO WALMART DURING CORONAVIRUS PANDEMIC. THIS IS WHAT I ENCOUNTERED.
However, if you do not have time, here are a couple of eerie pics from the Walmart trip that put the new normal of American life into a daunting perspective
The shelf-stable snack foods and breads aisle
Canned Foods Aisle
Pain Relievers and Fever Reducers Almost Empty
Don't Even Attempt to Look for Hand Sanitizer
Use rubbing alcohol instead. Isopropyl 70% will do.
No More Breakfast Cereals
The Scariest Site of All
This Used to be the Toilet Paper/Paper Towel Aisle
Taken only 3 Days After Pandemic Declaration
Crypto-focused news outlets have already published stories analyzing the recent drop in BTC/USD value that occurred so drastically after the number one cryptocurrency initially seemed impervious to traditional stock market collapses that occurred in the wake of the pandemic declaration. However, with President Trump's announcement that these "restrictions" will increase in scope and severity and will last through the summer, at least, with August being the month thrown out in which life will go back to normal.
No matter what happens, everyday life is now forever changed, and will remain forever changed even after the virus is controlled.
Resist The FUD!!!
Prepare. Don't Panic.
Readers, allow me to speak directly to you for a moment. I know these are scary times. I know there are a thousand horror movies that start with the headline "WHO DECLARES PANDEMIC," and I know that many of us are seeing these headlines, the 6-figure infection numbers with the thousands dead, and the restrictions in daily life and start thinking that it may be a good time to panic.
Please resist this urge.
I always advise anyone who will listen to me to prepare for the worst case scenario in any way you can, because even the slightest bit of preparation puts you in a better position than those that did not prepare at all. In my house, I have been stocking antibiotics, antivirals, and other medications for quite some time; as well as stocking up on normal maintenance medications that I take every day.
Furthermore, there is nothing like a public health emergency to light a fire under our asses. It is the perfect time to make certain that your important documents are current and up-to-date. If you do not have a will, now is the perfect time to create one. The same goes for DNR election forms, end-of-life preferences, medical proxy designations, powers of attorney, as well as other documentation that will make it easier on your loved ones if you happen to be a victim of COVID-19.
As a freelance paralegal, I have teamed up with a notary who can witness signatures remotely (over a webcam session), and we will be waiving our normal fee for after hours services.
If you would like to have a consultation to determine if you need to update your documents, or if you simply need notary services for a different reason, you can schedule an appointment with my notary
While things are still normal, I suggest that everyone within my sphere of influence take steps to increase your medication, food, and supply stock so that you can hunker down for awhile with as little contact with other as possible.
As far as the cryptomarkets go, at BTC drops to under $5,000; I personally think that there is not a better time to get started in crypto than when markets are low. This has historically been the case with gold, silver, other precious metals; and with bitcoin. Those who buy it low and have the patience to "HODL" will always reap the highest rewards.
So, in the meantime, just be smart, everyone!. Keep arm's length from everyone outside of your household. Wear a mask if you are feeling sick and be responsible enough to at least keep yourself self-isolated if you are sick from anything. Getting tested for coronavirus means you will be quarantined if you are found to be positive, so be prepared for that if you report for testing.
But above all...
Stay positive. This thing is not going to turn is into The Walking Dead, so let's try to keep the FUD to a minimum while taking proactive and practical steps to prevent the spread of this crazy coronavirus.
RESIST THE FUD!!!!
-W. Paul Alexander
for
NOTICE
TO MAKE SURE ALL OF YOUR IMPORTANT DOCUMENTS ARE VALID AND CURRENT, SCHEDULE A REMOTE APPOINTMENT FOR NOTARIZATION WITH US TODAY!
CLICK HERE: LAUREN ROSE, FLORIDA NOTARY PUBLIC (MOBILE, IN-PERSON, AND REMOTE)
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