What did you do when the market went south?
This will be the first dPoll for me on Hive. I haven't used this for a while, but it's time for fun again.
It has been a tumultuous Q1 for 2020. I bet most of us wish it was a joke when we woke up this morning. Aside from the health risks and loss of lives, there is the economic implications. Unfortunately for everyone, even when the pandemic passes, the aftermaths will be brutal.
I haven't even looked at my 401K since the whole thing went down. I did switch my portfolio to more conservative back in Q4 of 2019. So, most of it should be in treasury bonds now, losing a bit less money.
People are panicking, and many escaped into USD liquidity. What to do with that liquidity is another story. Despite the recent rallies, different indices still show bears roaming on the markets.
Some hopeful thought this pandemic will be the catalyst that pushes crypto forward. It could, but the time is not yet. As you can see, there are enough scared hands that sold Bitcoin into a low level a month prior.
It's bounced back a bit since, but we shall see where current events take us. As long as society does not collapse, there is hope down the road. However, this is not financial advice.
Some people might considered going into precious metal. Well, if you haven't been a regular in the scene, it's a bit difficult to get in. For the most part, dealers are out of stock. Go check out venues such as APMEX. They are out of stock for the most part. The items in stock only contain a few items.
As of now, getting in on pre-sales is your best bet in getting some precious metals. Oh, there is also a $300 minimum for each purchase. So, if you want to spend, you better spend big.
Now, here comes the question: what did you do about your finances during this crisis?
There are no right or wrong answers. But, it is something to think about should the situation become worse in the upcoming weeks.
Stay safe out there.
- Exited into cash
- Moved more into crypto
- Moved more into precious metal
- Moved a little bit into different assets
- Other (please specify)
Answer the question at dpoll.xyz.