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The negative impact of COVID-19 on the real economy remains above the horizon. Unemployment rates are so fast that the US Department of Labor has actually called on states to postpone the release of their numbers to quell negative market sentiment. If someone had presented the current situation to a cryptocurrency enthusiast in December, they would probably have said that they could not have imagined a more favorable scenario for the macro-cryptographic narrative. However, this scenario can not be all the sun and rainbows.
Bitcoin holders were largely caught up in a "safe" cryptocurrency narrative as the S&P 500 fell and panic reigned in the credit markets. However, Bitcoin (BTC) came out just as weak, as assets in almost all markets were sold in unison - the structure of the encrypted market actually breaks on March 12 and 13. Despite this, Bitcoin has climbed back without stimulus injections, recording only a 10% drop in prices for the first quarter of 2020.
The broader context of the use of cryptocurrency payments for redundancies can apply to financial hedging, resistance to censorship and access to liquidity when the banking system is in flux. Currencies like Tether (USDT) may seem, ironically, a better alternative to storing US dollars in a bank account, as Bank of America has recently set withdrawal limits and customers are supposed to be reluctant to enter the lines. their complete credit.
