Please Follow us on Gab, Minds, Telegram, Rumble, Gab TV, GETTR

Warnings from high-profile investors caused a flash crash in cryptocurrency, mirroring other risk assets as comments from Chairman Jerome Powell of the Federal Reserve suggest the Fed may have to act quicker to stem a coming inflationary spiral.

"We have inflation showing up, you know, in pretty bad ways in the U.S.," Novogratz, the chief executive of bitcoin and crypto-focused financial services company Galaxy Digital, told CNBC, asking: "Is the Fed going to have to move a little faster" to curb higher prices, reported Forbes.

"That would slow all assets down. It would slow the Nasdaq NDAQ -0.6% down. It would slow crypto down, if we have to start raising rates much faster than we thought."

We think these comments miss the mark for the long-term prognosis for cryptocurrencies such as Bitcoin. Privacy and scarcity, and freedom from central bank interference is the crypto story, not traditional risk metrics.

In other words, Bitcoin is going to thrive over time due to its ability to provide a currency that is not being debased by Marxist politicians.

There may be a short term pullback due to fear as the Fed starts to reduce bond purchases and raise interest rates, but in time this will only add to crypto's value as investors look for a store of value away from the U.S. dollar, euro, etc.

So, another buying opportunity is here.

This is not to be considered investment advice - consult your financial advisor before making changes to your portfolio.

CDMedia is being targeted and obviously too effective! We need your support to put more reporters in the field! Help us here!       

• Weird Economic Data Underpins Fragile Economy
• Back To The Constitution