Last month the world was a captive audience as they watched teams from across the globe compete against each other in the World Cup. In Brazil, where people live and breathe football, we know this far too well.
The sensations of heart palpitations, eyes glued to the screen … cries of joy when we score a goal, screams of agony when we miss a penalty shot.
Our daily conversations evolve from weekend plans and weather to statistics about players, and betting on the games; the probability that one team will make it to the quarter finals, semi finals, and the finals themselves.
And yet, as this highly anticipated event kicked off in June, there were reports that overall interest was lagging. According to recent data from Nielsen, viewership in the first round of games was down 44% from the 2014 games. A precipitous drop, indeed.
Yet, one week later, things had changed.
As this Yahoo Finance described, “Total viewership on June 27, which was Day 14 of this year’s World Cup, was up 34% over Day 14 of the 2014 World Cup, and up 22% from Day 14 in 2010. The bump was driven by big games between Mexico and Sweden, and South Korea and Germany. It was the most-watched Day 14 of a World Cup since 2006. Telemundo also saw a reversal in trend, as it reported an average 1.4 million viewers on June 25, a new record for Monday daytime viewership.
That’s quite the turnaround.
Interestingly enough, many parallels can be drawn between these dramatic swings and another issue we are intimately familiar with at Atlas Quantum: cryptocurrency market fluctuations.
All year long, we’ve been watching crypto prices rise and fall, then rise again.
Take finance headlines during the World Cup, for example:
- Bitcoin Price Drops to Within $100 of 2018 Low (June 22)
- Bitcoin Price Risks Further Drop After Close Below $6K (June 29)
- Cryptocurrency Market Continues Higher as Bitcoin Price Clears $6,600(July 3)
- Crypto Market Jumps $40 Billion in 2 Days as Bitcoin, Ether and XRP Record Major Gains (July 3)
As our CEO and Founder, Rodrigo Marques recently told MarketWatch in May, he “expects bitcoin to reach $20,000 in six months, recapturing levels it hasn’t approached since December 2017.”
It’s clear that just like the broader financial market, rapid shifts in cryptocurrency pricing not only can occur at a moment’s notice, but are expected. That’s enough to make any sane person just a bit crazy. Should you buy more? Sell it all? Sit back and enjoy the ride?
We have a suggestion.
The world of sports, like crypto, allows us to be a part of something bigger than ourselves. These two communities can do things like help us forge friendships, or allow us to achieve financial independence.
And as it does in life, there will always be ebbs and flows. Sometimes our teams will suffer heartbreaking losses, or the markets will dip. We’ll lose money…we’ll lose faith.
And other times, our teams will win, we’ll recruit the next Neymar, and our bitcoin wallets will double in profit. We’ll celebrate and remember when.
But, should any of these setbacks stop us from supporting the teams that we love, or investing in the products and currencies that we believe in?
The short answer is no.
So, we encourage you to hang on for the ride. Believe in these communities, and they will treat you well in the long-run.
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