I was pretty confindent that the worst part of the Coronavirus pandemic was gone after this Spring, and that this winter would have been less critic than believed. I was wrong! I live in Italy, the first country entering a full lockdown after China, so since March I usually have a look at Covid-19 data almost every day, on a really good site, wordlometer. ( for once, this is not a referral link ahahah )
Here is the data about yesterday, 4 November 2020:
Now... those numbers are rising really quickly, actually faster than expected. They really look worse than those during the first pandemic wave ( before the various lockdown), and at that time, stock market had a sudden crash, namely the 12 March; Bitcoin followed the move, and I remind you this chart:
I don't think we need an expert to analyse this chart, so that we can say with ease that "Coronavirus: 1 - Bitcoin: 0" . Of course then Bitcoin recovered, but I'm just naturally afraid about a second huge crash like this one ( Bitcoin plummed from around 10k to around 4k$ in few hours). I don't want to be the one making you paranoid, I do believe that this bull run is just beginning and I think we will see higher tops than just 15k$, but I'm wondering if really Bitcoin will be able to go over the Covid-19 fear, at least till a vaccine is ready.
I'm a strong believer of crypto strenght, but we also have to be pragmatic and conclude that since who own Bitcoin has just a virtual number in a virtual wallet, a massive sell off can still occur in a moment of fear.
Let's see what will happen! Thank you for reading and enjoy a great day!
Ps: just discovered this funny fact, that FTX exchange CEO Sam Bankman-Fried made the second biggest donation to Joe Biden for the election campaing ( around 5 millions $ ) . I've already wrote an article about this exchange, because there you can save transaction fees ( they pay them for you). This exchange is really one of my favorite, and now I like it even more ;-) They are also offering 0 maker fees till end of 2020. The link is a referral one.
