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WHO’s Scary Warning May Set Back Bitcoin’s Bull Run, Here’s Why

The World Health Organization has issued a terrifying warning that the “worst” of the pandemic “has yet to come.” The first wave brought record devastation to Bitcoin and the stock market, and investors now fear another crash.

If the worst has yet to come for the outbreak itself, could the market experience an even steeper selloff alongside the resurgence of cases globally?

World Health Organization Warns of Pandemic Spreading, Worst Is Yet To Come

Six months have passed since the pandemic first emerged, and life is still not back to normal. Nor have markets fully recovered from the selloff called Black Thursday in hindsight.

As the world learned of the coming quarantine and health care scare, panic spread across markets and caused a collapse.

The stock market went from setting an all-time high the month prior to the worst quarterly close on record. Bitcoin and other cryptocurrencies fell by 50% or more in 48 hours.

Chaos was everywhere, and it was just the start.

READ: Winklevoss: ‘You Can Bet’ Bitcoin Price Will Hit $15k After $10k

Over time, stimulus money offered by the Federal Reserve and other global governments helped save economies from disaster. However, these efforts may not be enough to combat another wave of the virus.

The pandemic isn’t going away. And even six months in, the World Health Organization chief isn’t optimistic things will improve before they worsen.

“Although many countries have made some progress globally, the pandemic is speeding up,” WHO head Tedros Adhanom Ghebreyesus said at a briefing in Geneva, Switzerland.

“The worst is yet to come. I’m sorry to say that,” Tedros added.

His comments come as the pandemic reaches over 10 million confirmed infections and over 500,000 deaths. How could it possibly get worse?

Bitcoin Bull Run To See Further Delay If Another Wave Of Selling Hits The Stock Market

Cases spiraling out of control again in some parts of the United States during the initial stages of reopening isn’t promising. A return to even stricter lockdown conditions could be demoralizing for the public that has already gone through so much.

Another wave of panic could be devastating for markets as well. The stock market’s V-shaped recovery could be in jeopardy. Another crash could make the structure form a W rather than a V-shape.

In Bitcoin, the bull run everyone is waiting for could be delayed further.

According to a new tool developed by an industry expert, Bitcoin was prepped and ready for a new bull run in early 2020. But the Black Thursday crash caused by the initial reaction to the outbreak and quarantine stopped it in its tracks.

It could take another month or more for the asset to be ready again. During that time, the broader financial market could collapse under the weight of more fear and uncertainty.

If stocks fall due to another wave of pandemic panic, Bitcoin’s bull run will have to wait a while longer as well.

Featured image from Shutterstock.

WHO’s Scary Warning May Set Back Bitcoin’s Bull Run, Here’s Why

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cryptohero8
I am a believer of the HODL philosophy because we are still in the nascent stage of blockchain technology. Although we are in a bear market now, my outlook on the adoption and growth of blockchain solutions remains unchanged. Blockchain transactions has been growing exponentially and demand for cryptocurrency like Bitcoin [BTC], Ethereum [ETH], Ripple [XRP], Litecoin [LTC] and other Altcoins will only continue to grow exponentially in the next five to ten years.

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