This is it guys. We are officially in a recession. And this time it’s going to be much worse than 2008.
The great depression of 2020
Everything is down. The world is in panic, financial markets in free fall. When you see investors selling their Gold and Silver for cash they can use to hoard groceries, that’s when you know it will be a fucking massacre.
In just a few days Gold lost almost -9%, BTC a whopping -55% and ETH -47%. Stocks are down so much that NYSE halted trading for the first time since 2008.
And it’s only going to get worse because what we see now is the reaction to what is currently happening in Europe, namely Italy, France, Germany, etc. If you look at the live map you’ll see the numbers are only now starting to increase in the USA and Canada. When cities in the states start to go on lockdown that’s when the real panic will kick in.
Those who knew exited the markets early
I got out relatively late in the game as all of my acquaintances were slowly pulling out late January and early February. Of course I thought they needed tinfoil hats, but oh my god how wrong I was.
At this point I am just looking for a little pullback to exit almost completely in the coming days since the next stop in the longer time frames for Bitcoin will be 3128. Yeah, it really is that bad.
Halving in May
The obvious question on everyone’s minds is: how will the upcoming block halving affect Bitcoin?
Well, by the looks of it Bitcoin will be completely annihilated by that time. Which means a lot of miners will close shop and go bankrupt. Which would theoretically mean that the hashrate will drop massively allowing small time miners back in the game. Whether that will actually happen or not remains to be seen. I sure hope Bitcoin will recover from this, but things are looking rather bleak as of today.
The opportunity of a lifetime
Now is definitely a good time to start accumulating those good old EUROS. Spend as little as you can on food, but make sure to have at least a few month’s worth of rations at hand. Not to mention gas, etc. The shops are all going to be “looted” by the crazies soon.
Play it right, and you might end up sitting on a fortune by 2022. As all the markets and crypto is burning down, there will be a ton of insanely profitable opportunities in the coming months. Best thing to do right now if you haven’t exited already is to wait it out and accumulate cash to invest once this blows over. Which could start happening around May through September when we see positive results from the first vaccine trials scheduled in April.
Stay home, stop the spread. Chill out.
Thing is it’s not even the virus itself that’s causing so much damage. It’s our reaction towards it. Sure, it spreads insanely fast and is unlike anything we’ve seen before. But it’s not that deadly. It can mutate and become worse than it is now though, that’s a real possibility.
But for the time being it would seem that the world will collapse due to sheer panic and misinformation campaigns. And people acting like baboons. Which could have been the play all along, who knows.
Let’s just hope we can kill it before it destroys us completely. Stay home, stay safe and do everything in your power to not allow it to spread. If you’re sick, don’t go outside.
This post was written by ynef