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In this episode we discuss the events of the infamous black swan day back in March 2020 and what actions we took. We also answer questions from our Twitter followers related to cryptocurrency issues.
“...the only way you can prepare for certain, you know, possibilities like this, is to have some cash spare”
“In my opinion. You have to be patient and if you're confident with your coin, and you know you're going to have good fundamentals”
Prologue
The world went into a global lockdown just over a year ago. Not many of us, if anyone, ever anticipated a pandemic on this scale. Isolation, social distancing, the wearing of masks, curfews, not being able to meet our friends and family, and even changing the way we study. Today are we coming to terms with a new normal?
Yet just before the world went into a global lockdown, and at the very beginning of the pandemic. There was a day no one in the crypto community will ever forget.
The date was 12th March 2020. Bitcoin fell 50% in a single day. It was the biggest single-day crash since 2013.
A day earlier the WHO described COVID19 for the first time as a Pandemic. Trump announced a 30-day travel ban and Italy went into a lockdown.
The world and our lives were so different. Yet, it wasn’t too long ago.
On our Podcast today we will discuss our personal experiences on Black Swan Day. Where we were, our reactions, and what we did.
Despair or Opportunity
That day sparked an opportunity to buy assets as the price went down significantly, other people chose to buy assets instead of paying their rent to seize the opportunity that showed up. These types of events are almost unpredictable we didn't really who thought COVID was going to spread across the world like this, none of us really knew our lives were going to change. The smart way to go on this is to have some cash spare if you keep 10% cash that all times or 15% cash and the rest invested in assets, then at least you have some kind of preparation for these kinds of events.
Hype and Mania Phase
During this phase, the coins will multiply quickly that people won’t realize the change that is happening.
Best way to Acquire Gems
"You can use it on the by Binance Smart Chain which is very minimal but you won't get the everything the theory and that's the issue because most gems are based on Ethereum ERC-20, you would have to actually acquire them on decentralized exchanges like Uniswap"
Social Media
Twitter:
Doc - @DrCrypto47
Oz - @AskCryptoWealth
Crypto Unplugged - @crypto_unplugd
For crypto and Bitcoin articles on technical and fundamental analysis, project reviews on altcoins, and more visit the Crypto Unplugged Website:
https://cryptounplugged.co.uk
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