How The N95 Facemask Market Helps Us Understand Crypto
Despite the fact that the crazy world of cryptocurrency has been masked with scams, promotion and value gaming, those tags have found their place in another industry — the N95 face mask market
“Scrutiny surrounding these deals is high because of ongoing scams and claims of price-gouging, both of which are triggering emotionally charged reactions and fear of making deals,” said, Forbes contributor David DiSalvo in regards to the COVID-19 pandemic-induced N95 face mask craze.
In a broad sense, DiSalvo’s words help shed light on the current crypto market space.
DiSalvogave an account of a day that he helped a companion secure arrangements for face masks for U.S.- based emergency clinics. State governments and emergency clinics sat on the buying side, while masks specialists hoped to broker a good deal on the selling side.
“The high price point per mask, driven by extreme demand, has contributed to an overwhelmed reaction among potential buyers, especially in the U.S.,” DiSalvo said.
After different long periods of shenanigans, all the masks available left the country, purchased up by global buyers rather than the intrigued U.S.- based buyers.
DiSalvo described a mass, single-day exodus of masks. “By the end of the day, roughly 280 million masks from warehouses around the U.S. had been purchased by foreign buyers and were earmarked to leave the country,” DiSalvo said. “This is the craziest market I’ve ever seen,” Schmidt told DiSalvo. “If you are working with a seller who has masks, but you can’t quickly show proof of funds, someone else is going to buy them,” he said.
Crypto Markets Can Relate
Often compared to the craziest, the crypto space often exudes many of these conditions at varying points.
Crypto is a borderless market, attracting attention from all over the continent. Masks have similarly become a global concern.
As crypto, and now the N95 mask market has shown — growth, and demand all hold the possibility to definitely changing markets. In the past two years, a significant number of those abundant ICOs have fallen radically in value, demonstrating minimal current interest in the midst of different claims.