What just happened? Most of the world is on lockdown and unemployment went through the roof. Several governments will be handing out money, not by the millions, but by the billions/trillions to make sure we stay away from each other. It is amazing how things can change in a month.
Cryptocurrencies are well suited for this as most dev teams have been social distancing from the beginning. Many devs do not even want to even be known except by their pseudonym in Discord or Telegram. Cash has become dirty (potential virus carrier) needing to be sanitized by a disinfectant wipe, where your crypto just needs a QR code to transact. The more cash that gets printed, the less it is worth. You get the idea. Fiat cash seems to have tested positive for COVID-19, now we wait to see how sick it will actually become. Or will it weather the storm and gain immunity. Since death rates are low, the chance of fiat passing away is still unlikely.
All markets took a massive nosedive, as did BTC. So where will Bitcoin go from here? Who really knows. The things we should be watching out for are: the release of a Fed digital dollar (what will that mean for cryptocurrencies), BTC dominance (will it rise from the current 60% to 90%), and the Bitcoin stock to flow ratio (will it hold within the current patterns).
Since everyone is giving away fiat money, we figured that we should join the party. Starting today MADX will be doing an airdrop for the next week. If you are new and wish to get some tokens (between 100 to 300 MADX) all you need is an email and a MADX token address, go to https://madcapx.com/airdrop/.
Stay safe everyone,
Madbyte team
