Ever since COVID-19 reached a point where the world had to undergo a forced hiatus, health and safety rose in priority. In such times it’s important to maintain extra caution with everything including cannabis. Most of the cannabis consumers have different medical reasons for consumption. And these same medical reasons make them more vulnerable to getting sick with COVID-19. So safety with cannabis is very crucial. But how do you ensure that?
Start from the most basic necessity- medical card. Prefer online clinics to get a medical cannabis card in NY. From the evaluation process to receiving a recommendation, everything is sorted online. This way you avoid any possibility of exposure to the virus. When the time comes to buy, handle and use cannabis, follow these tips to be safe.
Turn to smokeless options
Since the beginning of the pandemic, smoking is considered a risky way of consuming cannabis. In present times, our body needs to be in the best shape possible. And smoking or vaping contributes in the opposite way. These methods put the respiratory system under stress which renders it weak against COVID-19. The result?
According to the data collected through the 7 months of the pandemic, smoke causes the individual to develop complications of COVID-19 like pneumonia. In the worst cases, ventilators may also be needed for survival.
A word to the wise, move to smokeless options. Consider using cannabis edibles like chocolates, gummies, beverages etc. Or move to sublingual methods like tinctures and sublingual strips. Cannabis has dozens of smokeless options that do not hamper the health of the respiratory system.
Be selfish with cannabis
Until the COVID-19 pandemic has a solution, get selfish with cannabis for good.
I understand the need for socializing with cannabis. Joints are passed through the group with every puff and a stash of buds and edibles are also shared within the social circle. It’s an etiquette that’s followed without being reiterated. But considering the fact that COVID-19 is an infectious disease with a long incubation period and asymptomatic hosts, sharing of anything poses the risk of getting sick.
A joint that has been doing rounds can be a possible carrier of the virus and so can be the stash of buds and edibles. The worst part is that if one gets it, it’s highly likely that everyone else who shared the joint and stash gets it too. That’s the infamous chain of infection.
So stay safe by getting your own stock and saying no to any shared cannabis product.
Opt for deliveries
Coming back to the point of exposure, the idea of social isolation and physical distancing is to reduce exposure. If you do not go out or interact with anyone, the risk of getting sick is automatically low. But what about when you have to get a restock of cannabis? You will have to visit the dispensary then, right? Wrong.
The cannabis industry has been especially particular about following all the safety protocols with utter diligence. Keeping up with the idea of social isolation and distancing, most dispensaries across the US have started home deliveries. Their catalog is available online so that you can make an online order and get it delivered to your doorstep. If the dispensary near you does not offer this facility, try the online stores and see if they deliver to your area.
This is the best way to make sure that minimal contact is maintained.
Only buy quality cannabis products
I cannot emphasize enough the importance of good health during the pandemic. Any sort of weakness or sickness puts you in a vulnerable position.
Holding on to the importance of health, make sure that your cannabis products are of good quality. Only a licensed store can give assurance of high quality and safety. Cannabis products from illegal sources run the risk of contamination and molds that can harm your body if consumed.
So look for proper labels, lab tests and licensed sources only to ensure that your cannabis products are safe.
Disinfect your cannabis packages properly
As COVID-19 developed into a global pandemic, several facts about this new virus came to the fore. One of them was its survival period on surfaces. According to the New England Journal of Medicine, SARS-CoV-2 can live on surfaces like cardboard, plastic and aluminum anywhere from a few hours to 3 days. This makes cannabis packaging a potential carrier of the virus.
Whether you buy cannabis from the store or get it delivered to your home, it’s crucial that you take time to disinfect the packaging. The United States Environmental Protection Agency (EPA) maintains an extensive list of cleaning agents that can be used for disinfecting purposes. You can also use bleach or isopropyl alcohol to clean the packaging. However, steer clear from home remedies like vinegar as they do not protect against the virus.
Consider growing your own cannabis
In the time of COVID-19, people decided to become self-sufficient and pass their extra hours by growing their own cannabis. This trend is still growing and is also a great idea in terms of safety.
When you start having your own cannabis harvest, you wouldn’t have to leave the safety of your home. No more trips to the dispensaries, no more extra expenses and no more worry of restocks. All you have to do is take a walk to your backyard.
It is not a difficult job to have your own cannabis plant. All you need is to maintain the proper growing conditions and keep a regular check on the plant’s growth. As long as you maintain it, you’ll have a long time supply of cannabis at home.
Before getting started, just remember to acquaint yourself with the cannabis laws of your state to avoid any legal issues.
In present times when a medical emergency can happen any time, it’s best that you are always in your senses. Avoid staying stoned throughout the day. Consume cannabis according to your dose so that you receive the effects without feeling too high or getting a hangover the next day.
Overindulgence also puts your safety as well as that of others around you at risk. Your mind isn’t in the right place to follow every precaution correctly which only raises the risk of exposure. So stick to a proper dose for some time and keep your sense intact for the sake of safety.
Having gone through the many tips of staying safe with cannabis, it’s time that you employ them in your routine and follow them as diligently as possible to stay safe during the pandemic.
Bitcoin is Sucking Liquidity Out of Every Major Market, Charts Show
On Wednesday, Bitcoin evangelist and Wall Street investor Raoul Pal published a series of charts that pitted the cryptocurrency against major financial markets.
Every graph appeared identical to one another, for they showed how the mainstream assets/indexes were trending lower against Bitcoin, to a point where they all tested a medium-term support trendline. They included gold, the Nasdaq Composite, and its sub-indexes/stocks, which include KBW Bank Index, Treasury Bond ETF Fund, silver, Amazon stock, and others.
Mr. Pal noted that every index/asset was looking to break bearish on the support trendline. The prediction pointed towards more strength for Bitcoin as it compared the crypto with a “supermassive black hole that is sucking in everything around it and destroying it.”
“You see, gold is breaking down versus bitcoin,” Mr. Pal added. “And gold investors will flip to BTC. The Nasdaq is next. Retail specs are going to flip to bitcoin as it eats techs lunch.”
Some of the Nasdaq’s sub-indexes already broke below the Ascending Trendline support. The KBW Bank Index (NASDAQ: BKX), a benchmark stock index of the banking sector, fell to its lowest levels against Bitcoin as worries over an increase in loan defaults stressed the financial corporations.
Read Further: 3 Biggest Bitcoin Takeaways from JPMorgan’s Q3 Earnings
Furthermore, the iShares 20+ Year Treasury Bond (NASDAQ: TLT) depreciated against the rising Bitcoin prices, adding to the speculation that the US economy is heading for a prolonged period of lower interest rates. The Federal Reserve has already committed to keeping them near-zero up until 2023.
The analogy was the same for the G4 Central Bank Balance sheet, the Refinitiv/CoreCommodity CRB Index, and Apple. Everything fell against Bitcoin.
“The macro, flows, technology, demography and societal strains have all converged to this moment in time and the definite answer from markets is Bitcoin,” wrote Mr. Pal. “I get this sounds a little evangelical but I’m struggling to see it any other way right now.”
Bitcoin to $20,000
As money keeps flowing into the Bitcoin market, Mr. Pal also indicated that the cryptocurrency could soon swell back to its previous record high of $20,000.
As per Mr. Pal, there is not any historically concrete resistance level above $14,000.
Earlier in 2017, it took BTC/USD only a week to pump from lower $13,000s to as high as $19,891 on Coinbase exchange. While the rally mostly took its cues from the infamous ICO boom, it left little hints for technical chartists to pick their ideal long targets on the next breakout above $14,000.
“I fully expect new all-time highs by early next year at the latest,” Mr. Pal predicted, nevertheless.
5 Reasons For Bitcoin’s Price Surge To New 15-Month High
At the beginning of October, Bitcoin’s price was particularly indecisive and trading slightly above $10,000, causing many to believe that the unfilled CME gap down at $9,600 would soon be closed.
Fast forward to the current date, October 27th, BTC is trading at $13,400, having just marked a fresh high for 2020. The cryptocurrency added around $3,000 to its value, representing an increase of around 30%.
With this said, this month was also quite eventful. Many things happened, and, as such, let’s have a look at five possible reasons that could have led to this substantial price increase.
PayPal Announcing Support for Bitcoin, Bitcoin Cash, Litecoin, and Ethereum
Undoubtedly, the most important piece of news that came out this month was PayPal announcing support for cryptocurrencies.
Now, PayPal is the world’s largest online payment processor. Data from Statista shows that for the second quarter of 2020, the company has processed over $221 billion. Moreover, the company has a network of over 26 million vendors, and it plans to enable users to spend their BTC at all of them, starting in early 2021.
Additionally, it’s worth noting that PayPal is a widely-accepted payment method, and most of the banks allow transfers from and to the platform. On the contrary, not a lot of banks support Bitcoin transactions, meaning that they would either have to reconsider their policy, or they would have to drop PayPal as a client altogether.
At this point, it’s unclear how this will be resolved, but it’s exciting to see how the situation develops. If one thing is certain, though, it would put Bitcoin and other cryptos at the forefront of an important discussion.
Major Banks Starting to Change Their Attitude Toward Bitcoin
There’s no clearer example here than JP Morgan – one of the world’s largest multinational investment banks.
The relationship between the bank’s CEO, Jamie Dimon, and Bitcoin is one worth following. In 2017, the high-ranked executive said that BTC is afraid and that if he saw any of his traders dealing with it, he would “fire them in a second.”
Well, fast forward a few years, and now the bank is posting bullish predictions on that very same cryptocurrency that Dimon labeled a fraud.
Just a few days ago, JP Morgan said that even a modest switch in capital from gold to Bitcoin could see its price triple.
Number of Publicly-Listed Companies Which Buy Bitcoin Increases
Perhaps as a direct consequence of the above, we can already see an increased involvement from publicly-listed companies.
The biggest buyer who put Bitcoin on its balance sheet became MicroStrategy, with its massive $425 million investment. Its CEO, Micael Saylor, has been particularly vocal about BTC’s merits.
Jack Dorsey’s Square also jumped on the bandwagon, purchasing $50 million worth of Bitcoin earlier this month.
Below is a list of all the publicly-listed companies and their holdings in BTC.
Publicly-listed companies putting BTC on their balance sheet is a huge deal for the nascent cryptocurrency, and industry experts have it that this effect will only snowball.
Singapore’s Biggest Bank Reportedly Launches a Bitcoin Exchange
As CryptoPotato reported just today, DBS Bank, a Singaporean multinational banking and financial services corporation and the city-state’s largest bank, has reportedly launched an exchange that offers fiat-to-cryptocurrency trading pairs.
Purportedly, the new exchange would support the “top digital currencies in circulation,” namely Bitcoin, Bitcoin Cash, Ethereum, and Ripple’s XRP. Traders would be able to exchange them against SGD, HKD, JPY, and USD.
More interestingly, the exchange would supposedly only accept financial institutions and professional market makers, as its users. The venue would be regulated by the Monetary Authority of Singapore, which is also its de-facto central bank.
Needless to say, a central bank-backed and regulated exchange aimed at institutional investors should, in theory, facilitate the involvement of larger players in the field.
Uncertainty Around the Upcoming 2020 US Presidential Elections
Undoubtedly one of the most important moments for the global macroeconomic outlook is the upcoming US Presidential Elections, set to take place on November 3rd.
CryptoPotato did a survey, and it turned out that the elections are the biggest concern for Bitcoin investors in 2020.
It is, perhaps, no surprise that billionaire Paul Tudor Jones III came up with a statement, saying that he likes “Bitcoin even more now than then [when he bought BTC in May].” He also said that it’s going to be the best inflation trade.
Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).
Miners begin offloading Ethereum holdings as it continues underperforming BTC
Ethereum has been severely underperforming Bitcoin throughout the past few days and weeks, with the second-largest cryptocurrency by market capitalization currently trading far below its yearly highs.
Meanwhile, Bitcoin’s price is currently trading at the highest price seen in well over a year, with bulls vying to break the $13,800 level and bring the crypto to fresh post-2017 highs.
Its current strength has only created a slight tailwind for ETH and other major altcoins, with investors currently shifting all of their focus onto the benchmark cryptocurrency.
Many analysts have speculated that there will, at some point, be a rotation of capital away from BTC and into altcoins like Ethereum, but it remains unclear how high it may climb before this takes place.
One reason why Ethereum could be underperforming its larger counterpart at the moment is due to a single on-chain trend.
An analytics platform noted in a recent tweet that Ethereum miners have been selling their ETH holdings rapidly, which could be why it has been severely lagging behind Bitcoin.
Ethereum struggles to match Bitcoin’s momentum
Ethereum has been hovering within the lower-$400 region for the past few days as Bitcoin slowly continues to push higher.
Yesterday, a sharp selloff seen by BTC sent Ethereum plunging to lows of $380, but the buying pressure seen at this region allowed bulls to quickly revert its downtrend and send it rocketing back up past $400.
Ethereum still needs to climb roughly 20 percent before reaching its 2020 highs of $490 that were set at the peak of the DeFi hype cycle.
Unless Phase 0 of ETH 2.0 is released shortly, it remains unclear what could catalyze any shift in its waning momentum.
ETH miners begin offloading holdings as technical strength degrades
One reason why Ethereum has been underperforming Bitcoin is due to miners offloading their holdings over the past few days.
“The Ethereum miners have been dumping, and it appears that last week’s increased on-chain activity and trader FOMO has slowed.”
Until miners stop offloading their balances, Ethereum may continue lagging behind the benchmark cryptocurrency.
This could have far-reaching implications for the aggregated market, as most major altcoins have been taking Ethereum’s lead as of late. Until ETH can gain some momentum, other altcoins will likely stagnate.
Like what you see? Subscribe for daily updates.
Blockchain1 month ago
Bitcoin price volatility expected as 47% of BTC options expire next Friday
Blockchain2 months ago
Market Wrap: Bitcoin’s Powell-Induced Price Swing; Ethereum Still High on Gas
Blockchain1 month ago
Bitcoin Bouncing From Bull Market Support Points To 2021 As The Year Of Crypto
Blockchain2 months ago
Blockchain Bites: Is DeFi an Inside Deal?
Blockchain1 month ago
Ethereum: Is the HODLing in yet?
Blockchain1 month ago
Hackers Have Been Trying To Crack Bitcoin Wallet Worth $750 Million But Here’s The Catch
Blockchain1 month ago
YFI Founder Puts Himself Forward for Uniswap (UNI) Delegation Duties
Blockchain3 months ago
Wealthfront Lures Millenials With Crypto Memes and Tactics