All time high in Crypto….Inflation ahead?
Starting off this week with GREEN GREEN Crypto port! ETH just hit its all time high and many experts say it is still going up strong! Not only ETH but almost ALL cryptocurrency is going so green these past few days. Inflation fears are driving the cryptocurrencies market and boost up the demand and take the money away from physical wallet into digital wallet.
In the past decades, people would normally escape from inflation to the “safe haven” which is internationally recognized and accepted….GOLD. Today, right now, things change dramatically! Gold has some competitors and seems like a lot of demand is moving towards digital currencies. There are many alternative investments and people are starting to trust more in code and trust more in the transparency of blockchain technology. Not only that, Bitcoin and all the famous currencies are doing pretty well with gaining trust from big corporations and even gaining trust from some government.
According to CNBC, “Bitcoin has outpaced gold substantially year to date, with the digital coin up nearly 133% and the yellow metal down about 4%” interestingly this is more convincing for those investors or buyers who are willing to accept the risk. At the end of the day it is “high risk, high return” and many young people are buying that because they are willing to take more risk. The price of gold is something that is influenced and protected by bigger players like national banks. Gold prices need to be controlled and maintained because it would be a huge problem if the price of gold is versatile like the price of cryptocurrencies.
Inflation is real and it is happening due to the amount of “money” that we created. Inflation is something that is very difficult to seal. It is reflected in the price of everything, starting off with the price of energy in the past months that have reached its peak after the world pandemic. Right now, it is affecting the price of goods and soon will be affecting many local businesses.
This is something that needs to rethink, relearn and react accordingly. Inflation could damage life and the economy. It is important to be aware and to be awake in order to handle the situation. What would you do if the price of the goods went up to 20% ?
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