Since the coronavirus outburst in the world, a crisis to humanity has been started. Every day since January 2020, we wake up to the news of rising casualties due to coronavirus around the world.
The impact of coronavirus is severe:
- Coronavirus has affected around 84 countries in the world, and almost every country is under total lockdown.
- Coronavirus has impacted the people psychologically as they fear that their livelihoods are in danger.
- People are hearing the news of increasing cases that have also caused them to live in a state of fear and panic.
Coronavirus has impacted the markets and survival severely
Coronavirus has increased the rate of unemployment and has also caused the market to run in losses. Coronavirus has also affected stock marketing and dealing in cryptocurrency.
The various markets that have been affected are as follows:
- Stock trading
- Cryptocurrency trading
Unemployed Youth fearing coronavirus
There have been many schemes that were started by the government to support the unemployed youth. One such scheme was Yuvanestham, started by the government of Telangana. Yuvanestham scheme supported the unemployed youth by giving them a monthly payment of Rs. 1000.
Some schemes have been discontinued by the government even before coronavirus started. The government also discontinued Yuvanestham. This reason has made the unemployed more anxious.
A Relief to the poor
The unemployed youth should not panic as the government has announced that they will start new schemes that can support the poor during the time of crisis.
Startups have been affected due to coronavirus.
You would have heard of various startup stories and how there is a rise of startup culture in India. There have been many successful startup stories, and every story had one common thing in them.
Every successful startup stories worked hard every day so that they can compete with already established companies.
The factors that have caused these successful startup stories to suffer amid coronavirus are as follows.
- Due to lockdown, they have to send the employees to their homes and announced work from home.
- Most startups do not have resources for work from home that has increased their cost.
Crypto panic is rising
There is a feeling of cryptopanic around the world. The cryptocurrency market has seen periods of severe fluctuations since the start of the coronavirus crisis due to which crypto panic has been increased in the world.
Bitcoin has seen fluctuations with the value of Bitcoin reaching its lowest since the crash in 2017. This has caused a severe crypto panic, and we can hope that this coronavirus outbreak could get controlled quickly.