Corona virus is catching new countries, in such a situation everyone has facing lock-down condition. The problem due to lock-down is that people cannot go out in connection with their work business and it has started to have a very bad effect on the economy. The crisis of global recession was already present on this world, but Corona has done the work of putting petrol in the fire. Due to this virus already more than 15 countries around the world have been damaged by billion rupees. And China the born-place of corona is suffering the most damage here. if i am talking about india then 348 million dollars loss could be impacted. because this is just a beginning of this virus spread in india. along with these many small Asian countries and other countries surviving against this virus.
Because of this virus the sectors that will most affected are machinery, automotive & communications equipment. And according to sources, economies in the world that have been the most affected are the following :
- European Union ($ 15.6 billion)
- United States America ($ 5.8 billion)
- Japan ($ 5.2 billion)
- South Korea ($ 3.8 billion)
- China's Taiwan Province (2.6 billion Dollars)
- Vietnam ($ 2.3 billion)
With this, there is a lot of country whose data has not been released yet and the crisis of Corona has just started in most countries. So the figures coming forward will give you even more surprise. And you all know that all our countries are dependent on import-export and due to this virus, it will also have a bad effect on import-export duty, the price of important things can also rise to sky because We have to import the things which is not available in our country.
The biggest risk of lossing jobs in these sectors
in Unorganized sector, aviation sector, retail sector, driving, temporary employees, tourism and hotel industry and infra and real estate are in danger situation. so if you are depended on job then this is very bad news for you. here we need to follow the main slogan If you have life, you have the world. so first you need to do care for your life. because if you get the life then you will get a job again in future. but if i am talk about this crisis then government can use emergency fund in this situation for your salary Enough of the need. Because here you have no chance to go out and work. you can try work from home in this situation.
Can it have an impact on cryptocurrency?
Before i say anything i want to tell you that this is not financial advice but this is just my own opinion from my research. This is he most important question that now every crypto mind is thinking. So we can't say clearly about it. But this time "cash is king" everyone will want cash this time. so one of the most important thing don't do panic and don't sell your whole crypto fund. Just Collect as much cash as you need for recommended life things. And you can keep the rest of your money in crypto.
So do not sell all your crypto and not convert into cash. and also not keep your whole fund in crypto you need to diversify your funds at this time. keep enough cash in your hand to drive your family cycle. We don't know future may be this time crypto coins will pump. so in short, diversify your fund.
What can you do to protect yourself?
You need to follow the health team direction to protect your self and along with this as i said above keep enough cash in your hand for important things of life. Don't sell all your crypto in panic and also don't keep your whole fund in crypto. because already world suffering from crisis and now this new calamity has come. There are many bank closures in India. for example yes bank and pmc bank.
Here you can see the video of Venezuela and see what is the situation. there are no value of this money. At one time this money used to be very valuable. So that's why i said divide your funds. many people this time can buy crypto so that's why it can be reason of price pump. Don't go one side.
This type of crisis are responsible of born of bitcoin . it is decentralized currency so it has no end. It is called Digital gold. our hive is also decentralized and i am proud of it and we can make it more better decentralized by contribution. decentralizion is very important thing for the freedom of people. Satoshi nakamoto identified it and created a bitcoin currency. so your money safe in bitcoin. Bitcoin is safe but exchanges or private wallets are risky so i advice you to keep ledger wallet and keep your keys safe and in that wallet you can save your bitcoin.
So for today it is enough. I hope you will agree the all my points that i have discussed here. It is very important post for everyone so Please share this post and don't forget to follow me on hive and other social media. Have a great day.
