FOMO is running high, and I don't think this FOMO is fluff that's going to get swept away by the tides of fate.
The use cases for the LEO token is expanding as fast as the FOMO. This is why the token appreciation is not just fluff. There is a solid foundation backing it.
There's going to be a ton of financial and economic displacement ravaging the world in the not-so distant future.
This will be very interesting to watch. As the economic situation, globally, take another leg down, how does crypto, Bitcoin in particular, react? We are going to see a contraction of not only the economy, but also markets. It is not far-fetched to believe that the stock market is nearing its top. Real estate will also see a push down.
We are closing in on 9 months since the economic chaos due to COVID started. Historically, it takes 9-12 months after a market crash for the economy to truly feel it. This is where we are now. Perhaps some of the antics they pulled, mortgage and rent forbearance, delayed things, but for how long? The problem with QE is that it adheres to the law of diminishing returns. With each new action, it has less impact.
In March, everything went south. Will we see if the same thing occurs the next time. Does Bitcoin and other crypto take off in such a massive deflationary environment.
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Why is it guaranteed that we take another leg down? I would take the opposite side of that and say things have likely bottomed and are going to continue climbing higher. The stock market in particular is 3 months forward looking. Do you know why it is at all time highs right now while the pandemic numbers continue to surge? The market isn't dumb or wrong, it's because it's not looking at what is happening right now, it's looking at what will be happening 3 months from now, and 3 months from now we will likely have multiple vaccines being rolled out globally, more stimulus programs launched here and abroad, better treatments etc, and very possibly the green shoots of an economic recovery. So, yes the economy can look bad right now and in the very near term, but that doesn't mean another leg down in financial markets is a certainty.
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