Categories: Cryptocurrency News

Crypto & Coronavirus – The affected industries & The importance of crypto, Part I

The latest pandemic needed one month to change the world as we know it. Every stock is down, hundred of thousands of people got without jobs and more than 80% of the industry was affected. Nobody was prepared and industries were hit hard.

The most affected industries

Travel – The travel industry is sitting on the verge. One step closer, and there would be a total collapse of the market. The travel market is dead for 2020, probably no one will proceed with their bookings. Not because they would be afraid, but because it would be impossible to travel with the plane in this situation. The travel industry is responsible for more than 300 million jobs. Of course, a large amount of these people lost their jobs. Others are still hired, but the end is near. The travel industry will decline massively until Corona is wiped out, which may take a few more months or probably the whole 2020.

Hotels & Airlines – With no travelers, of course hotels and airlines are not in a good position. Hawai already closed most of their hotels and they’re not the only country to do so. This industry will suffer a lot from this epidemic, as probably most of the bookings were canceled and no one is booking hotels for the future period. Same with airlines – there will be closed to 0 customers for the future months and some of the airlines will go bankrupt or will need to increase their prices after the epidemic to get back on track.

Stock market – The stock market was hit hard. Dow Jones lost over 31.1% in less than a month, Nikkei lost 28.7% while FTSE 100 lost 34.1% as of March 19th 13:00 GMT. And probably the prices will drop a bit more, as more and more people need their extra cash to survive these times.

Restaurants – A lot of restaurants closed during this period or took precautions and limited the number of spots. The number of restaurant bookings dropped by 94% in Canada, 90% in Germany, 86% in Ireland, 84% in US and 82% in UK compared with the same day one year ago, according to BBC. And of course, they will stay closed for a bigger period.

Unaffected industries

There were also a lot of businesses which were pretty much unaffected by this virus. But why? These types of businesses usually have their people working remotely, they are providing a SaaS or their product was just hot in this period. Lets see a few examples:

Gambling – The local casinos might have closed, but the online one are probably seeing more people than ever before. More and more people started searching for sportsbook taruhan bola online as well as other keywords related to gambling. The gambling industry is probably gaining a lot of new customers in this period.

Delivery – Amazon, food delivery companies, DHL and many other companies probably saw a surge in orders as people stopped going to their local store and started buying online. It’s a way better, effective way to protect yourself while also getting the things you need. And also, they’re helping people stay at home and not going out to get some groceries or a brand new computer. The only issue here is the fact that there might be some companies that wouldn’t consider the safety options and send their delivery agents out without proper equipment.

Streaming Services and gaming companies – What can you do at home for a long time? Read a book, exercise and then watch a movie or play a game. A lot of companies saw an increased number of customers in this period. Some people might finally have the time to play that game that they always wanted – and now it’s the time. Some will watch that series from Netflix that they haven’t watched since 2017. The Netflix stock saw a decrease to $298.84 on 16th of march and it’s now sitting at $359.50.

In the next part, we’ll dive in a bit to learn more about crypto.

Zerocrypted

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