In the middle of a global pandemic, crypto markets are at a critical turning point. While it can be difficult to think of opportunities during such a challenging time, admittedly, this may be crypto’s time to shine. While the markets rise and fall, cryptocurrency is a smart part of anyone’s portfolio rebalancing plan right now.
The scarcity theory of cryptocurrency was proven correct this year as central banks sought to shore up the various plunging equity markets. In particular, Bitcoin is anticipated to retain more of its value than beaten-down equities and gold has also been a bright spot – both gold and Bitcoin stand to benefit from global monetary stimulus efforts designed to bolster economies in the wake of the coronavirus.
According to Raoul Pal, a former Goldman Sachs fund manager who now runs Global Macro Investor, “First comes the panic, which is the liquidity phase. Then the hope, which is the correction phase. And finally, the insolvency, the brutal phase that changes everything.”
In “Crypto at Critical Turning Point as Global Economy Founders Under Lockdown,” an op-ed published in “Finance Magnates,” I take a look at the state of the crypto market and current growth opportunities for the current “hope” phase. Read more here.