Interesting Investing Moves in Crypto this Week!
Some interesting news on cryptocurrency. Investors are starting to stock up on Bitcoin After announcements from the federal reserve on inflation control, many investors are bearing down on Bitcoin.
Due to the entire pandemic, many new investors have been buying into cryptocurrency. There is also news of investors investing in other assets like gold and even whiskey!
Some interesting moves. I personally think that this COVID induced panic will lead to a decrease in value of most traditional assets, but decentralized currencies will still hold their value. I would stick to the more well-established currencies like Bitcoin (BTC) and Ethereum (ETH) as a means of decreasing risk. I think COVID is increasing the public’s opinions on the benefits of cryptocurrencies as a more secure investment due to their decentralized nature. I also think that stay at home laws have increase the number of people who are investing in the stock market and cryptocurrency. Think this large influx will likely drive the demand for cryptocurrency higher over time.
Overall, I think these are smart moves from these investors, who are looking for a more surefire investment despite the uncertainty of our current economy. As for whiskey and gold as investment alternatives, definitely not something I know much about, but it has piqued my interest and I want to know more!
Relevant Links: https://www.bloomberg.com/news/articles/2020-08-26/fearing-inflation-investors-hedge-with-gold-bitcoin-and-whisky?utm_campaign=likeshopme&utm_medium=instagram&utm_source=dash%20hudson&utm_content=www.instagram.com/p/CEf_QDLHm8q/