Economy and Crypto During COVID-19 – Spotlight

BlockDown 2020 is bringing the best brains of the blockchain to the mainstage in a virtual 2-day conference. As BlockDown 2020 media partners, we will bring you a rundown of exciting stories from talks, fireside chats, panel discussions as we cover blockchain technology during and beyond COVID-19, news from the DeFi world and more. Stay tuned!

Day 1 of BlockDown 2020 on April 16 saw many stalwarts shape their talks keeping in mind the chaotic impact of the pandemic crisis. Two such sessions featured Mati Greenspan, founder & CEO of Quantum Economics, and Nicholas Merten, host & founder of DataDash, one of the largest cryptocurrency YouTube channel. In their contrasting styles, both Greenspan and Mertens spoke of economy and crypto during these trying times.

The Mati Greenspan talk

A macroeconomic specialist and former eToro analyst, Greenspan’s session was styled “COVID-19 Impact on the Markets and a Few Trading Ideas”. He spoke of the screeching halt of the global economy in the last month of Q1 had an overall negative impact. However, the internet and telecommunications have strengthened as they cater to everyone forced to stay home during the unprecedented lockdown.

According to Greenspan, trading was going great guns even as we saw great market volatility. With companies and banks not faring well, trading still continues. Greenspan attributed this to the people having opinions about stocks, crude oil, and Bitcoin. Online trading applications accessible from home have also facilitated this greatly.

Greenspan did single out the soaring rate of job losses, particularly in the US as one of the major direct impacts of the pandemic. As recent reports suggest, more than 5 million Americans have filed for unemployment benefits since the lockdown started.

What the charts had to say

So, what people are generally looking for is liquidity, a foremost asset being the US dollar. Usually, the market economy expands over time. As the ongoing crisis compels it to shrink,…

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