2020 has announced itself with lots of perspectives, financial opportunities, a glimpse of certainty that I was dying out of thirst for, and fireworks of good vibes, but till date all I got was the fireworks, and I might not be the only one living under uncertain skies. I guess Italians would envy my spot considering that they're a bit isolated from the rest of the world these days.
Voices regarding a potential global recession have been around for a while, but not too many were paying attention, and honestly, although I've heard about it, I had no clue how such an assumption would become true, and honestly didn't had a plan for it either. I guess all they needed was a virus and the media to create the pandemic situation that will trigger a new bull run...
Bull run? I was actually going to say global recession because that's where we left from. I was highly convinced about a month ago that we were actually already in the bull market that many of us have been waiting for years, but then the COVID-19 came and fucked everything up. Yeah, I don't have nicer words to express myself in regard of the situation.
Markets all around the world panic sold, and I assume they will keep on doing that for at least a few months, depending on how much the virus will affect economies, industry and human psychology, and all of that money out of oil, gold, and other shaky assets got into Bitcoin. The Gold 2.0. Well, actually that didn't happened and BTC proved itself to not be a hedge during financial crisis, at least not yet, thus disappointing true believers and investors, myself included.
Lately it shows more and more rebellious attitude against its fans. I don't own Bitcoin actually, but the cryptos that I own behave in tone with BTC. The only one that seems to be against the trend is STEEM, but we all know why that happens, what we don't know is how long will it last.
From all this man made created pandemic and crisis seems like cash is going closer and closer to extinction. Last week Bloomberg announced that USA is quarantining the dollars they got from China, and now my mom tells me that they can't cash out from their cards in Austria. Two whole lot of different countries, same situation... What's the catch?
Simple. The plan on making a cashless society a dream come true, is just about to...become true. Under the threat of the Corona virus over banknotes, that are transmissible from one person to another, banks have decided to silently forbid their customers from cashing out. For how long will that happen, I have no clue, but I assume this situation might be the catalyst for killing cash once and for all.
Not a fan I will have do admit because I don't like at all when banks and governments know exactly what I have in my pocket, where that comes from, how much do I spend and on what, and where have I made my last purchase. Too much big brothering for me, I have to say. I'm not a drug dealer or a pimp, but I still love my cash, because it's mine and nobody should have any control over it, besides me.
Having all of your money in the bank, and relying only on the bank for all of your spending is a risky situation, for us individuals, if you ask me. One day the bank might give you a 404 error and you're left pants down in downtown. Don't tell that this is where Bitcoin comes in help because I don't buy that. Whether we will get to a cashless society or not in the near future, I doubt Bitcoin will play any part. Bankers won't put weapons down that easily and will slice their own money...
Lets move away from cash and look into some businesses, and industry along with tourism seem to be already affected by this crisis. The first that comes to my mind is Apple which seems to be delaying the launch of its next flagship model due to Corona. They manufacture the iShit in China and China is now busy manufacturing COVID-19 so they will have to delay any launch they had in plan, and iPhone is just one name of big business affected already by the virus pandemic.
Tourism and transportation is, and will be affected as well, because crowded places is where the virus spreads the most. Rome for example has become a quiet European city again, after centuries, because Italy is in quarantine and tourism as well over there. Hope Romanian tourism won't suffer because I am still willing to collaborate with my friend this year in his boat cruises business. There is tax free money to be made and I love that.
If we're getting into quarantine as well, then only crypto can save my ass this summer, but my hopes are almost dying in this regard. I know halving is just two months away and usually after it the boom starts, but if there will be too much blood on the streets I doubt BTC will appreciate as it should. STEEM is under Chinese control as well, as you might know already, hence the sky doesn't seem clear at all.
As I said in the introduction, 2020 started very promising and on fireworks, but it's been quite fast tamed and quarantined. Hope my predictions will fail and the opposite will become true so we can all be happy.
Thanks for attention,