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.
Subscribe to our evening newsletter to stay informed during these challenging times!!
Crypto is nothing but a money laundering scam brought on by a couple of world govts to fleece the people out of their money and to gain more control of individual data.
And YES, I can prove it...
I have 4 accounts with over 900 billion dollars in the. . Yes, I said billion.
I have 1 with 1.65 TRILLION in it.
If I can hack the system this easily, just think of what else is going on out there in the "dark blockchain" that no one talks about.....
How much is it worth if the power goes out?
crypto.....mickey mouse money...... there are now over 5,000 cryptos and the value depends on how dumb someone is willing to pay for it ....... yes you can make some money on it ... but get the hell out before it dives straight down !!!! Shiba is the worst...worth a tiny fraction of a penny and they have a trillion + coins floating ...
just throw a dart and put $50 bucks on each and see what happens !!!