Resisting FUD in a Pandemic
On this episode of....
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 today a massive sell off to under $5,000 BTC/USD was the result of even more panic.
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.
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.
Just Resist The FUD
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.
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.
-W. Paul Alexander
for
