Bruno Michieli Explores the Impact and Implications of Global Pandemic for

Bruno Michieli, a prominent business executive active in the technology and private equity industries, comments, “The uncertainty and panic created by the pandemic have had a huge impact on all trading activities, resulting in record drops for some of the world’s major indices, including the Dow Jones Industrial Average. On March 12, 2020, Bitcoin registered its steepest price drop in seven years, reflecting the broader plunge in the stock market, which experienced one of the worst sell-offs in its history. While the massive stimulus packages announced by governments around the world have had a calming effect, there is a general sense that an economic recovery will be slow in coming. Against this background of uncertainty and unprecedented state intervention, attitudes to cryptocurrency appear to be changing, with some seeing the pandemic as a turning point in the history of digital coins.”” data-reactid=”12″SINGAPORE / ACCESSWIRE / June 12, 2020 / Despite its ups and downs, the crypto market endures and continues to attract investors, even in the current environment. Bruno Michieli, a prominent business executive active in the technology and private equity industries, comments, “The uncertainty and panic created by the pandemic have had a huge impact on all trading activities, resulting in record drops for some of the world’s major indices, including the Dow Jones Industrial Average. On March 12, 2020, Bitcoin registered its steepest price drop in seven years, reflecting the broader plunge in the stock market, which experienced one of the worst sell-offs in its history. While the massive stimulus packages announced by governments around the world have had a calming effect, there is a general sense that an economic recovery will be slow in coming. Against this background of uncertainty and unprecedented state intervention, attitudes to cryptocurrency appear to be changing, with some seeing the pandemic as a turning point in the history of digital coins.”

Bruno Michieli

. A prime example is the United States, where the Federal Reserve promised in March yet unseen levels of money printing as well as “quantitative easing to infinity” via an unlimited bond purchase program, all of this on top of a record $2 trillion emergency relief package. While these moves have helped markets recoup some losses, a Cointelegraph article refers to them as “an interventionist monetary policy reminiscent of the 2008 environment that led to the release of the Bitcoin whitepaper by its anonymous founder.” The pandemic is “an opportune moment” for the cryptocurrency industry, which has come a long way since the launch of Bitcoin over a decade ago, the author says, adding that “We may be witnessing a fundamental shift in legacy market sentiment – specifically, the cozy relationship between the government and…