I write this post as the number of Covid19 virus (Coronavirus) cases around the world is increasing at a fairly rapid rate. I hope for the best in terms of the overall health impact on everyone and think the cautious approach most governments are taking seems to be sensible. I’m not in a position to speak to any medical advice or insights here, so will stay in my lane. There doesn’t seem to be anything this pandemic isn’t having an impact on and the Crypto currencies behind the MCP game are no exception.
Unsurprisingly, the virus has impacted the global stock markets in a major way but perhaps surprisingly it has also hit most Crypto currency values. The chart below shows that, as of March 16th 2020, the price of Ethereum is at $111.40 which is less than 50% of it’s value just 1 month ago. I don’t see any major reason why the Crypto markets are being hit this hard but markets don’t have to be rational.
It raises a few questions, concerns and possibly some opportunities related to the MegaCryptoPolis game.
Concerns: The main concern for me is probably just the simple fact that Crypto currencies are again shown to be highly volatile. The MCP 3d game could turn out to be fantastic, with some players making hundreds of ETH but if those Ethereum turn out to be worth little or nothing, then that doesn’t really help. I think the majority of Crypto investors are well aware of the investment risks but this is something to be aware of.
I’m very confident in the Blockchain technology that is behind Crypto currencies and projects but that doesn’t mean that all Crypto currencies will survive or be worth anything meaningful. Ethereum does seem like one of the more widely used and exciting Cryptos but again there are no guarantees.
Opportunities: I invest in various markets from time to time and during any major downturns you also have to consider whether there are any buying opportunities. Sometimes a major downturn in a stock or asset price could just be a failing company or assets, however markets tend to come back from major swings one way or the other. With the MegaCryptoPolis game, the assets are valued in Ethereum so in terms of the dollar amount needed to buy any assets in the game things, we’re effectively getting a 50% discount to the prices from one month ago. If you were thinking of dipping your toe in the water and buying a few things, now might not be a bad time to give it ago.
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