Fear, doubt, panic and more feelings are increasing as the corona virus expands and no certain in a definitive vaccine to help combat it efficiently. The crypto market is also feeling that panic and the whole market is turned red as the pandemic disease expands in a global scale and not signs of a cure is imminent and that is bad to the world.
The world economy is in bad shape and recession in some countries most affected by the virus can be a reality very soon, as the fiat currency in those countries are being taken out to prevent more contamination coming from the paper notes and solutions on this time are more the digital payments and here crypto can have a great role.
Despite the crypto market being red I believe that is a matter of time until it goes green again as the the Pandemic disease expands, mostly because the people will be looking to store value and as we know the CBDC's (central bank digital currency), mostly are still in development it's oblivious that the world will look more to the crypto industry. Panic can happen in any field of economy and recent red signals in crypto is not that bad, it's an opportunity to buy and hold more!
The world economy of course will be shaken as the disease continues and the COVID-19 will be influencing the most affected countries in various ways! In fact most of the countries that are affected will be losing some good revenues coming from industry, services, tourism, international relations and many more, as they will be banned in some parts of the world and also their international workers won't be let to flight!
But this is the time to get panic?!
Some countries started to ban and not allow foreign countries to fly to their locations all in name of prevention, and China and Italy the most effected Nations are being restricted to travel to prevent more expansion of the COVID-19 but I believe that the respective countries, each of them must have their own methods and fullfil them in order to combat it, despite the ones given from the World healthy organization, and the fight against the virus can be very efficient! And I believe also that is not time to panic but time to get solutions to end this very soon!
The crypto world and the global economy can be affected on this, but crypto will prevail as the fiat currency will be hugely taken out from circulation to prevent more contamination from it.
That isn't time to panic is time to bag more and wait to see what the world in the coming days will tell us, but be sure, cryptocurrency is here to stay and no disease will kill it!
Take care and take of your loved ones in this time of pandemic world disease!