In this report we look at a recent study by the University of Minnesota that monitors pandemics since 1700 to analyse which scenarios are more likely for the evolution of COVID-19 in Spain and how the current situation differs from similar past ones. A second wave, like the one that occurred during the Spanish Flu pandemic, would have dire medical and economic consequences. Determining whether this may be the case is one of the goals of our report. Moreover, in order to make plans for recovery, it is critical to understand how the pandemic may evolve in the future, since the medical and economic spheres will go hand in hand in the coming months.