The Coronvirus fear is real.
Bitcoin is not the real safe haven anymore!
Put everything in cash or go to bunker since Coronavirus will kill you and your family members. Such is the crowd hysteria about COV19.
Total death in USA is 50 after three months of spread. Virus spread has not peaked in US or most parts of the world.
What will happen in future we have to see at China, Italy, South Korea and Iran, at some extent to India.
In China CV19 cases has almost slowed down. They had only 11 cases for a population of 1.41 billion. And, now-a-days, most cases are imported from abroad in China.
On the other hand, Spain, France, Switzerland and USA at the beginning of epidemic. Country like US, Japan, France, UK or Spain will have 20-100K cases. If a country really surpasses cases in China, it would be a shame for a country or even liberal democracy!
It may not spread epidemically in countries with huge population such as India, Indonesia, Pakistan, Nigeria or Bangladesh due to their hot and humid climate, low international connection.
It was worse for countries such as western Europe and USA due to colder weather and flu season, better connectivity and economic activities.
Now imagine a scenario, the worst case scenario for US death count could be 1000 to 5000. It will be shame for US which has population of less than one-fourth of China and better medical facilities. China's severe authoritarian actions to slow the spread of COV19 (e.g. 3200 deaths from 80K cases) will put questions about the limitation of free world or liberal democracy.
On the other hand, on average 90 people die each day in US by car accidents. In total, it would be 33000 people per year. People are not panicked to drive cars for short or long distance. People are not aware that driving with less sleep is similar to driving under drinking.
People don't have hysteria about car accidents. Governments are not bothered at all. Does stock market or cryptomarket correct 30% in fear of car accidents. On the other hand, it should be biggest concern for all the Governments in the world since young people die disproportionately in car accidents.
The main fact about COV19 is that it is threat to the vulnerable population such as old, immune compromised and people with preconditions. The young and healthy people have the responsibility not to spread the virus to the vulnerable by social distancing or other precautions. There is nothing to be panicked but educated. The goal is to save the vulnerable population and slow down the spread so that proper treatment and vaccines can be discovered as soon as possible.
The good news is that it has open a golden opportunity to buy crypto cheap again. BTC halving is just two months away and Steem is finding to the news. If other major countries pass the peak of contagion and slow the spread significantly, both crypto and stocks will rebound swiftly. It is the "blood in the street" for the unprecedented event like Global pandemic. Though it is not severe as any big natural disaster or war, but fear and confusion is severe. Therefore, it gives us an unique buying opportunity too.
Disclaimer: This opinion is not a financial advice, it my personal perspective and opinion. Please seek professionals for financial decisions. This opinion is only for educational purpose.
Image sources: Most images are open sourced (e.g. Pixabay, Wikimedia etc.) with Creative common license. Some images are used with due courtesy to respected owners.
Thanks for reading.
Cryptominer , occasional trader and tech blogger since 2013
Posted via Steemleo