What do these all have in common?
These seemingly disparate events all have one thing in common: They’ve had undoubtedly large impacts on markets, both traditional and alternative (like the Bitcoin market).
The seemingly impossible question to ask is “how much impact did each event have?“
Some causal chains are pretty obvious. The spread of the coronavirus means that fewer people are travelling, which is the main reason airline stocks are tanking.
Others, not so much.
Is Bitcoin crashing because it’s not the safe-haven we thought it was, and investors are just as afraid in the crypto market as traditional markets? Is it because people are freaking out over PlusToken? Is it none of the above?
If you’re expecting a simple answer like “Coronavirus is 60% of the cause, US-Iran is 5%, PlusToken is 20%, and Oil is 15%,” then I’m sorry to dissapoint you, because those numbers are completely made up, regardless of who makes a go at it.
Instead, I’ll propose this:
Focus on blockchain innovation, not on price movements.
By its very nature, price is an infinite, undying source for the news. When there’s nothing better to report on, there’s always the option to make headlines that read “Bitcoin Up/Down X%.”
We can do better. Fortunately, there are many better things to report on.
In spite of all the doom-and-gloom, real-world solutions are making their way into the markets, and it’s just up for them to be widely adopted.
We’re in the midst of some of humanity’s greater challenges, so let’s shine a light on potential solutions, not the price of Bitcoin.