Some readers asked, "What about me with this?" Well if you invest in stocks, right now you must be in some kind of psychological distress. For those who bet on cryptocurrencies, it was easy to verify that the turnover left the stock exchange and part came to bitcoin and ethereum.
This move is typical of most investors fleeing the instability of financial markets.
In addition, WHO speaks of a new global wave, which affects the already weakened world production chain.
Overall this pandemic will be remembered for the next century, as the Spanish flu was in the early twentieth century.
With bitcoin and ethereum down but relatively stable since mid-June, cryptocurrencies have become a safer haven.
That's because they don't depend on people, or companies, or even traders, and they don't have the same degree of risk of speculative attacks like stocks or stock funds.
In addition, oil in future barrels starts to fall, in price, with the OPEC agreement, which means that, for profit margin, cryptocurrencies also become a good option.
For small cryptocurrency investors it may be a good time to rebuild the asset portfolio with bitcoin.
It's not possible to know if it goes up or down, but the logic gives a certain probability that it will go up by the law of supply and demand: remembering that bitcoin is scarcer due to the closing of mines in China.
In this way, until there is a reallocation, and until the algorithm - now facilitated - starts to interfere in the distribution, the price remains low.
When distribution stabilizes and demand continues to grow, then there will be a rise.
Read up, slowly, months or year!
It is convenient, despite the fact that many utter aversion to the traditional financial market, always keep watching this market.
The migrations from this market, conveniently, end up stopping ans cryptocurrencies.
Studying the movements of basic commodities, in the pair USD/EUR, and in basic ores such as: gold, silver, silicon, aluminum and copper, in addition to petroleum, it is always a good exercise of prediction.
Also observing the indicators of the main business exchanges in the world - including those for grain and food - is a good source of information: many funds, currently, mainly bank ones, have part of their reserves in cryptocurrencies, namely: bitcoin and ether.
In the end, studying the different financial markets in different countries is also necessary: The European market operates differently, in economic and regulatory aspects, than the US market. The Brazilian stock exchange, in the midst of various political problems, fluctuates in an inconstant manner, however, several small and medium-sized Brazilian investors have cryptocurrencies, also in South Africa and on the Tokyo stock exchange.
All of this, plus covid, alters market moods and cash flow.
Notorio is a slight increase in turnover!
Keep an eye out and study, observe, because the world of cryptocurrencies is not closed in on itself!
I talk about, more, in here: https://www.publish0x.com/rationality-emotionality-and-financial-markets/bitcoin-in-the-year-of-covid-xrnoozj