Are
we hitting the recession again?
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The answer is yes, and we are
getting there. Recessions are a fact of life. Recessions
are evolutionary bottlenecks in the world of modern economics—where weak
projects expire, strong projects prevail, and industries become more resilient
as a result. Things have changed
since the arrival of COVID 19 and it has put all the nations in
the world at a back leash. Whether the recession
is fast-approaching or still a way off, it’s wise to be prepared for its
eventuality. Lockdown has affected adversely almost all sectors and
industries and a lot of people have already lost their jobs. While government
measures for handle COVID including lockdown and stay at home orders,
labor-oriented jobs, and other jobs that require human intervention has gone
down drastically. Companies, Factory/store owners, small businesses have laid
off many of their employees and are surviving with minimum labor and operations
for now. The situation is going to get worse and the world economy is going to
observe some of the worst times. Although all the nations are putting their
best efforts to get their economy on track. But before recession strikes, it's best to focus on the long-term investment and
manage your expenses, minimizing the risk in your portfolio and setting aside
yourself from its deep-down effects.
As the current circumstances demand minimum human contact, it has
also given rise to the question of using digital currency or online payments over
using traditional payment methods. People worldwide have accepted this trend
and have been following it as well. It gives a clear indication of everyone
open to adopting a new way of life. It is quick, safe, and convenient. Along
with the increasing dependability on digital banking, there is a good scope of cryptocurrency
market as well.
The
question of investing for the next recession still looms large in the minds of
those who are simply not sure how to protect their investments and do what they
can to be prepared for the coming financial meltdown. For some, that is as easy
as keeping a basic savings account balance in a personal checking account, but
others are still searching for strategies to keep them from being caught in a
downward spiral of depression and anger when the economy collapses. But here
the Crypto industry differentiates from the
fiat currency as it is not bound by any government authorities and regulatory
whereas traditional assets are directly inclined to
be affected by the inflation and deflation by the world trade.
One
can start to invest in crypto with small investment at
the initial stages and then learn and grow with time, sooner the better it is. Bitcoin was the first cryptocurrency launched by Satoshi
Nakamoto in the year 2009. It has seen its good days and bad days but it has
gone stronger than before and expected to hit more than 10k again by 2020 end.
Similarly, there is another cryptocurrency in the market that has
been doing good even after these economic slowdowns.
According to financial market analysts, cryptocurrencies will be
widely accepted as a form of investment in the coming future and it may result in the other
traditional currencies losing their core usage and dependability.
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