COVID-19 has become a defining moment in the course of our society, it's impact can be seen through its effects on the economy and society in general. From the perspective of a Bitcoin investor, there are many things to consider, especially now as Europe head towards a new forced lockdown.
During the 1st wave, coronavirus emergent patterns determined how the infection spreads and sets the society on a particular course. The impact on consumer society has been tremendous. The effect has mostly been seen as the closure of workplaces, resulting in people either working from home, getting laid off or in some cases, being furloughed.
The unemployment rates have set records in western countries. The road to economic recovery is still unknown. The current situation seems to indicate that businesses need new types of fundraising in order to fully recover or to restructure.
Age & Assets
The lag between infection cases and deaths is around two to three weeks: This means that whenever the epidemic resurfaces, according to data obtained from the first wave, this happens predictably, in risk groups and regionally.
This is significant because the statistics indicate that the majority of victims of the coronavirus are unlikely to hold significant wealth in either traditional or blockchain-based assets.
Therefore, the impact of the coronavirus on cryptocurrency and blockchain-based asset markets may be quite negligible, while in traditional markets, the outbreak is likely to unlock assets typically held by the victims. Among elderly members of the working class, the majority of wealth is held in residential real estate and pension funds. Tradicional markets are expected to suffer again, although, not in the same magnitude of the first wave. However, crypto assets, due to demographic factors, may not be as impactated.