Thu. Apr 2nd, 2020

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Safe Haven Narrative Will Boost Bitcoin Buying But Job Losses Desists

2 min read

Bitcoin is set to come out of the current financial crisis as the safe-haven asset to protect investors from inflation. Investors will look to buy up Bitcoin in the next few weeks with Bitcoin continuing to climb in prices. While this is a great time for any investor who has to spend money, a lot of other common folks will be shut out.

Across the globe, many are going into quarantine, having to leave their work or business. However, this means they will have to dig into their savings or await government handouts. In the U.S, it is reported that the ongoing COVID-19 pandemic could see over 2 million people lose their jobs.


https://twitter.com/ImmoralButLegal/status/1241703024847990786

Many retail investors will be shut out of buying Bitcoin because of this. Their spending will focus on shelter, food and possibly medicine. While many might want to invest in Bitcoin and ensure they are protected from inflation, they will simply have no money to do so.

Cheaper Crypto To Hedge Inflation

Fortunately, it is the entire crypto market that is a hedge to inflation. While Bitcoin is the best asset for this, other top cryptocurrencies offer the same.

Bitcoin is currently exchanging for over $6K, buying a considerable amount is expensive. Some investors, who want to hold bigger amounts can buy other cryptos with a lower value.

Some, in fact, is currently undervalued and trading more than 80% below all-time highs. One coin of interest is Ethereum. At $140, the largest altcoin is trading more than 85% below all-time high and is 50% below year high. At $140, the coin is price poised for most to buy and buy in plenty to ensure maximum profits.

Additionally, Ethereum has thus far in the year been outperforming Bitcoin which means it could even go on to add more value than Bitcoin.

Crypto is continuing to decouple from traditional assets and proving to be the best investment with the ongoing financial crisis. Analysts continue to state that no matter how small, crypto is a safe haven. It is the future that many believe in.

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2 thoughts on “Safe Haven Narrative Will Boost Bitcoin Buying But Job Losses Desists

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Cryptomute | 2020