Cryptocurrency markets have endured numerous challenges in recent years, including wars, oversupply, and financial crises. However, a global pandemic was the one issue that hadn’t resurfaced since the Covid-19 era.
Monkeypox Global Emergency
The World Health Organization has declared a global emergency due to the spread of monkeypox in Africa. This marks the second emergency declaration in three years, with the previous one occurring in July 2022 when the virus was primarily affecting homosexuals in 116 countries. At that time, 100,000 individuals were infected, leading to around 200 fatalities.
What Are the New Risks?
Since early 2024, the Democratic Republic of Congo has reported over 14,000 cases of mpox and 524 deaths. According to WHO Director-General Tedros, the rapid spread of a new mpox variant in Eastern Congo and its detection in neighboring countries is alarming. This mutated virus, identified in September, now spreads more easily and not solely through sexual contact.
The 2022 emergency was lifted in May 2023, but understanding the current situation’s severity remains premature. The potential for a new global lockdown looms, which could severely impact cryptocurrencies.
Key Takeaways for Investors
- Investors should brace for potential market volatility due to the ongoing health crisis.
- Monitoring WHO announcements and local health advisories will be crucial.
- Diversification of assets might mitigate risks associated with pandemic-related market disruptions.
The global health landscape continues to evolve rapidly, and its impacts on various sectors, including cryptocurrencies, could be profound. Vigilance and adaptability are key for navigating these uncertain times.