The current crisis surrounding the corona virus shows how quickly our current financial and monetary system comes under pressure. The full extent of the consequences cannot yet be assessed. But it is already clear that we have to be prepared for sustainable changes: many people will lose their jobs, production and supply chains will be rearranged and the money supply will increase immeasurably. Can cryptocurrencies be part of the solution?
Long-term impact bullish for cryptocurrencies
Of course, you can’t play this game forever. And that’s exactly why we can be bullish against cryptocurrencies in the long run. Because the house of cards, which is kept alive by the permanent printing of money and state bailouts, will slowly but surely collapse.
“With cryptocurrencies, this game looks different. There is no bank bailout. There is also no increase in the money supply if someone shouts for it. And this is exactly what breaks with the current cycle.” Says Changpeng Zhao.
Now there are of course some people who are already aware of this fact. However, we currently don’t see a Bitcoin rate of $ 100,000 or more. Obviously, the majority of people assess the current situation differently or are not aware of its extent. However, we should remain relaxed and give the market the necessary time.