If you hold any crypto currency, you have probably noticed that they have dropped. They could drop further, however, this is a great buying opportunity.
With hyperinflation obvious even to the masses, at this point, there is no way crypto currencies will stay down forever. They make take time to rebound yet use this time to grab some if you feel you “missed the boat.”
Bitcoin is down 40% from its April high as all crypto currencies undergo one on of the biggest selloffs since March of 2020 when the government announced lockdowns due to the covid pandemic. This slump comes after a threat from The People’s Bank of China to stop using digital coins as a form of payment.
Pullbacks are normal. Big pullbacks present opportunities to get in. There is no need to panic unless you still want to put trust in the United States dollar. It is losing value rapidly and the new digital currency will be introduced at “the right time.” When the central banks decide they want everything tracked and traced, they will introduce us to their dollar alternative, which I maintain is not an option any of us should accept.
This eventuality makes any crypto currency the obvious choice.
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Personally, I have drifted toward more privacy coins lately, choosing Monero over Bitcoin for it’s fungibility, but none seem to be “bad” right now. Just remember to do your own research and get what is right for you or avoid cryptocurrencies altogether. If you dislike crypto or feel like you do not want any, please do not get any.
Trust your gut instinct but take the time during this pullback to at least look into ways to protect yourself if this economy does completely crash and burn.
Obviously continue to keep your gold and silver stash stocked. Those will be powerful bartering tools if you need them to be.
Now is the time to make big moves instead of submitting to fear or panicking about the prices. Get in now if you want. Or make other preparedness choices, such as storing up some extra food and water just in case you make some decisions the bankers do not like.
Remain vigilant when it comes to your decisions about finances and currency in the coming months. We could experience some big changes and only you will be able to determine the right course of action for yourself.
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