Cryptos and Markets Plunge, Is It Time to Buy Bitcoin?
Tough day in the markets… all the exchanges are down about 3% across the board.
Cryptos aren’t faring much better with BTC down over 6% and ETH down 9%.
So what’s going on?
It’s not necessarily a crypto thing, that’s for sure.
First, we got the yield curve inverting.
What does that mean? Basically, you earn better interest on a 2-year bond now than a 10-year bond. Doesn’t make any sense as you should get paid more for the time.
Then there’s the Hong Kong anti-extradition bill protests.
The Chinese Army is amassing troops at the border.
This could literally end in blood.
And there’s still fears of a global recession.
Add it all up and people are selling now and asking questions later.
As for BTC, it’s uncorrelated to any other asset. And it’s better than gold. So…
Buy BTC !!!
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