Cryptocurrencies

A brief overview and options

Cryptocurrencies are going through a rather volatile period at present, but it's no surprise really given that the Stock Markets seem to have a mind of their own right now,  Rising inflation has been on the cards for a while as countries have sought to fix their financial woes of lockdowns, furlough and the pause in working that the Plandemic has brought.  Printing more currency is called Quantitative Easing (QE) if you're the Bank of England or the Federal Reserve in the USA, but if you or I tried to help them out they'd arrest us for counterfeiting money!!

Inflation

Inflation is what happens when the money in your pocket is worth progressively less and less in terms of buying power - you need to spend more to buy the same goods you previously could.  The Head of the Federal Reserve in the US initially dismissed fears about inflation, but that was before Sleepy Joe announced huge spending that will require considerably more counterfeiting. Before, when many other countries had been printing money too, the relative change on the Currency markets didn't alter as much as you might originally have expected as all currencies were sliding down in value together in parallel. With the planned spending in the US running into the $trillions, US inflation is inevitable and the stock markets are getting jittery with falls and recoveries hitting the Dow Jones and Nasdaq every few days.  Stocks that have intrinsic worth and a very promising future such as Tech and BioTech seem artificially low for no reason. Other companies such as airlines had recovered on the promise of future flights rather than what is ongoing at present, and thus seemed rather artificially high.  The USD very much determines what goes on in the World economies and inflation there will have inevitable knock-on effects.  The threat of various wars - China/Taiwan, Russia/Ukraine and the ongoing fighting between Israel and Palestine do nothing to stabilise matters either.

Record Highs

Cryptocurrencies such as the established Bitcoin (BTC) and Ethereum (ETH) have recently hit record highs, although there has been a bit of a crash in recent days and as I write, with BTC falling significantly more than ETH.  Other altcoins have hit the dizzy heights too such as Cardano (ADA) and Dodgecoin, which was originally founded as a joke, but got pumped up by Elon Musk. He is partly responsible for today's crash too as he withdrew the offer to accept BTC for his Tesla cars, rather ironically on the basis that BTC mining uses lots of electricity, ... as if his cars don't!!

The probable truth is that he's no doubt worked out that his Tweets etc can manipulate the markets and the cynic in me wonders how many $m worth of BTC did he sell out before his announcement, knowing it would crash the price so he can buy back in at the bottom, and boost the market (and his profits) by "changing his mind"?!!!  Cryptocurrency markets are not the only markets that are manipulated by those with the most money either. It happens in all the Stock markets and commodities too.

The Governor of the Bank of England announced last week that cryptocurrency has no intrinsic value in an attempt to undermine and discourage investors from uying BTC, ETH and/or any of the other altcoins and token available on the different exchanges. Maybe someone should remind him that the £ is no longer backed by gold and banks are only obliged to hold 1/9 of their lendings in assets. How many of these are book valuations rather than tangible assets too?  Either way, his opinion made little to no difference in the cryptocurrency arena! I suspect most investors in cryptocurrencies realise that the established banks want their own centralised cryptocurrency so that control is kept within the elite few and it paves the way for more totalitarian control by Governments too. They are deliberately trying to undermine the idea of decentralised currencies that prevent such manipulation and control.

Nowhere is a 100% safe haven for your money

It is for this reason that I encourage people to consider investment in cryptocurrencies such as BTC and ETH and some of the other more established altcoins. Spread your investments into different areas.  As with any investment don't risk more than you can afford to lose. There are many highly speculative altcoins that are probably the equivalent of penny shares.  Many will come to nothing, but if you get on the right one early it could take you to the moon!! Having said that, many will lose their shirt on the way as they gamble on the wrong one and fall foul of the cryptocurrency sharks.  Fiat currency is no safer really, and just as liable to have another collapse as it did in 2008/9. Indeed, it has been suggested that part of the reason for the COVID fearmongering was to distract people while another financial reset happens. There is definitely an agenda towards centralised digital currencies that facilitate totalitarian control of people via their money that we should resist, or else we're in danger of ending up like China with Social Scoring.

CryptoPlanet provides a wide variety of  news stories from the worlds of Business, Tech and Cryptocurrencies with advertised learning courses available too., and other services Knowledge is power so it pays to start to understand what Cryptocurrencies are about.  There are opportunities to invest in BTC mining, trading robots, trade, lend and other aspects of cryptocurrency too! It really depends how much you want to get involved, but it's an opportunity that's there, and I don't see it being taken away. Too many big companies etc are already involved and even some of the big banks are dipping their financial toes such as JP Morgan, CitiBank and others.

Trading bots and mining

For those who like the idea of investing in cryptocurrency but don't have the time to continuously monitor the markets, there are other ways of  making money. Trading robots use algorithms  that decide when to buy and sell based on the market movement.  CCG Mining give you the ability to buy hashrate that is usesd for mining BTC.

I've recently started experimenting with Trading Robots too, but I have much to learn to get to the point where I'd be setting the trading parameters and triggers etc myself. However, if you don't start you'll never learn!  There are Cryptocurrency robots companies online where you can hire a bot and even buy other traders algorithms who have been successful.  As with life, I'm happier getting involved and moving forwards myself, than just watching!  It's about keeping your nerve too when it looks like it's all going wrong.  Know that recovery will happen and eventually the figures will turn from red to green!

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