Free Gift Card0%
Crypto & NFTs / What is going on with cryptos in this market?
Jan 11, 2022
What is going on with cryptos in this market?
For all the talk about crypto being an inflation hedge, it's strange to see it acting more like a tech stock when the Feds made their announcement last week. It's been a bear of a market. What is driving prices down? What do you guys think is going on? Is this just business as usual volatility for cryptos? Trying to understand the dynamics and relationships.
Replies (6)
Jan 11, 2022
@Joanne637, cryptocurrencies are risky trades. Risky assets are being shunned right now as you would expect.
Jan 12, 2022
@Joanne637, I think it's just the nature of cryptocurrencies. It's a new asset class and our nature is to classify it so it makes more sense. Is it an inflation hedge like gold or is it a risky high growth tech stock? It's all of the above and with it will come continued and high vol.
Jan 13, 2022
@Andy497, right...!
Jan 13, 2022
@Joanne637, Cryptos treat it as your pleasure indulgences. That means risk is much more as there is no asset backed. Value is determined by market sentiment.
Jan 13, 2022
@Curiousmind, right, that's a good point!
Jan 15, 2022
its a treat to watch this kind of issue and it will be useful