“Buy and hold on for dear life” has officially taken on a whole new meaning. Rather than holding on for dear life, cryptocurrency investors will be closely guarding their Bitcoin to milk the coins for all they are worth.
Yesterday, Bitcoin managed to beat its previous all-time high in January 2018 by breaking through the $15,000 level. It went as high as $15,233, representing a 9% gain in just a single day.
Other cryptocurrencies also managed to make some very impressive gains, with Ethereum over $8,200 and Litecoin breaking the $8,800 level.
After hundreds of articles from pundits and journalists forecasting the death of Bitcoin, the COVID-19 pandemic seems to have injected new life into the controversial investment vehicle.
Even JPMorgan has entered the cryptocurrency market this year… which is funny when you consider that in 2017 they referred to Bitcoin as fraudulent. CEO Jamie Dimon even threatened to fire any employee who was caught trading it!
So what factors are responsible for Bitcoin’s meteoric rise? A couple of things, actually..
- Fintech giants like PayPal and Square allowing their customers to trade Bitcoin (buying, selling, and holding)
- Artificial injections of money into the economy from big banks and governments, which has led to more investors buying Bitcoin as a hedge against the financial markets
- Uncertainty about the 2020 Presidential Election leads to the question of when the next stimulus package will arrive, increasing the value of Bitcoin
So long as the COVID-19 pandemic continues to rage on, Bitcoin will become far more attractive than ever before.
The question that remains isn’t whether Bitcoin will go up higher, but HOW much higher it will go up.
Could it go as high as $20,000 per coin and beat the 2017 highs? I don’t know for sure, and neither does anybody else.
What do YOU think will happen to Bitcoin for the remainder of 2020? Will it go up any higher, and if so, by how much? Reply to this newsletter and share your predictions with us!
A 64% Jump in COVID-19 Infections Among TSA Officers Within 30 Days
The airline industry continues to feel the brutal impact of the COVID-19 pandemic. The issue of passengers getting infected is already enough of a hot-topic, but now we also have to worry about the workers who are responsible for operating airports 24/7.
Officers from the Transportation Security Administration (TSA) have experienced a 64% jump in COVID-19 infections over the past 30 days. This means that 391 officers are currently infected with the virus.
(For context, compare that to the total number of infections and deaths among TSA officers since the start of March: 2,425 infections and 8 deaths.)
This is very bad news, especially since the majority of these infections came from officers interacting with passengers. And to add further fuel to the fire, these infections are happening in America’s busiest airports.
Unless we find a way to make EVERYBODY coronavirus-free, travel demand will continue to remain depressed well into 2021…
Looks Like COVID-19 Testing Will Replace Mandatory Quarantines…
Let’s face the facts: In order for airline travel to return to pre-pandemic levels, we are going to have to make some compromises. There is no other remaining option for us besides picking the lesser of all the existing evils.
The World Health Organization has acknowledged that traveling right now is relatively safe and possesses a low risk of getting infected with COVID-19. However, it is clear that enforcing mandatory quarantines will not help resurrect travel demand.
So what they’re suggesting countries do instead is to do away with the quarantines and double down on mandatory COVID-19 testing. From Emergency Committee chairman Didier Houssin:
“…clearly the use of the tests is certainly now supposed to have a much larger place compared to quarantine, for example, which would certainly facilitate things considering all the efforts which have been made by airlines and by airports.”
It’s no wonder why several US-based airlines are focusing on the creation of new programs for COVID-19 testing.
How Much Are Americans Paying for Rent Nowadays?
People all across the nation are relocating to take full advantage of their remote working privileges. But they need to find a place where a good chunk of their income isn’t completely burned up by rental payments, especially since 20% of all Americans renters allocate over 30% of their income on rent and utility payments.
Hire a Helper recently conducted a study to see which cities involve the greatest percentage of one’s income going towards rent. Here are the results for the small cities that have it really bad:
- Miami, Florida: 51.7%
- Bridgeport, Connecticut: 49.4%
- New Haven, Connecticut: 45.3%
For the LOWEST share of income going towards rent in small cities, cities in Texas such as League City, Allen, and the Woodlands came in at 20-23%.
The same percentages can be seen in mid-sized cities such as Springfield, Escondido, and Hialeah (47-50%), while places such as Irving, Cary, and Overland Park are much cheaper at the 22-25% range.
The large-sized cities gave the most surprising results: While San Francisco came in at 22%, the median rent-to-income ratio was highest for places like New Orleans.
I’m curious to know: What places in America do YOU recommend where the lowest amount of your income will go towards rent? Reply to this newsletter and share your secret spots with us!
Louis Vuitton’s Prestigious City Guides Are Coming to Apple Maps
Even if you don’t buy or wear anything from Louis Vuitton, their City Guides are indispensable reading material for any dedicated traveler.
Breaking away from the most common tourist recommendations, they find the undiscovered treasures lying dormant within each of the world’s most famous international destinations. Criminally underrated restaurants, tourist attractions, hotels, and shops are just some of what you’ll discover.
And thanks to a brand new update from Apple, you’ll be able to access LV’s best picks from City Guides for FREE on Apple Maps. All you have to do use the new Guides feature and you’ll have access to all the hotspots.
On top of this, the City Guides are going to be translated into several languages such as French and Chinese. And many more features are expected to be launched, such as an interactive tour that takes you around some of the featured cities.
Now we just have to wait for the COVID-19 pandemic to end before we can start tapping into the full potential of the City Guides…
A New Countrywide COVID-19 Curfew for Italy
Italy just can’t seem to get a grasp on the coronavirus, following nearly 760,000 COVID-19 cases and just over 39,000 deaths.
So as a result, Prime Minister Giuseppe Conte has imposed a lockdown on the entire country. Here’s what you need to know:
- A nationwide curfew from 10pm until 5am
- All shopping centers must shut down during the weekends
- All museums and galleries must remain closed during the lockdown
- Public transportation can only operate at 50% capacity (down from 80%)
- Schools will now transition to online learning on a full-time basis
- The fine for not wearing a mask outdoors is €1,000
- Bars and restaurants must close by 6pm
There is no hard timeframe for this lockdown, so we have no idea when it ends. But Conte intends to separate the country into separate zones on the basis of how bad infection rates are (with a “red, orange, yellow” color ranking system).
Considering that curfews were already imposed in other cities such as Rome, Campania, and Lombardy, this move was sadly inevitable. And it reflects on the dismal state of the COVID-19 pandemic across the rest of Europe…