March Was The Best Of Times For Some And Worst Of Times For Others – The Tale Of Two Markets
It is tough financial times for many businesses and individuals due to the current crisis we are all living through.
In Australia alone, we are expecting that the current lockdowns, which are putting immense pressure on the economy will last for at least the next 6 months.
Here at NGS Crypto, we are one of the lucky ones to still be functioning as usual, with our NGS members still receiving their daily payouts into their mining accounts.
We are very fortunate to be able to contribute financially to our members offering them the financial support, received through their mining packages, during this time, which will ease the financial stress many are facing.
NGS Monthly Returns
At the close of business on March 31st, NGS members finished the month making their minimum monthly returns.
As of next month (April 2020), NGS members will see their returns generated through their mining account back to a more consistent rate in regards to daily payouts.
How We Got Here
In the month of March 2020, we saw the stock markets along with the price of Bitcoin (BTC) crash at the same time due to high selling pressure.
On March 9th, most global markets reported sever reductions, which became known as Black Monday 1, which was the worst drop of the stock market since the GFC in 2008.
Following on from that, only a few days later stocks across Europe and America fell more than 9%, with Wall Street experiencing its largest single day drop since 1987.
Governments have reported that during March 2020, global stocks have seen a drop of at least 25%, and up to a 30% drop in most G20 nations.
Australian Prime Minister, Scott Morrison, stated that the current economic crisis is
“Akin to the Great Depression.”
People who have invested into the stock and share market have drastically suffered and are now under great financial stress and pressure due to the extreme downturn of the stock market.
However, those who are invested in Bitcoin mining have been more fortunate, even though the price of Bitcoin too took a hit.
The Safety Is In The Blockchain
All of our NGS Members are in a very safe investment position, with all members closing off the month of March making more than their guaranteed monthly returns.
This is due to the fall in hash rate. Many mining companies around the world have had to turn their machines off, which as a result increases the probability of solving the algorithm required to mine successfully.
NGS Crypto Members are reaping the benefits of this, and we are pleased that our members are in a safer financial position, with a financial safety net.