bo Bitcoin and the US stock market crashed yesterday, and they are bleeding
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Offline ogboso

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Bitcoin and the US stock market crashed yesterday, and they are bleeding
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Iwuchukwu Chukwudi wrote:


Bitcoin and the US stock market, especially tech stocks like  Facebook, Amazon and Telsa tech stocks crashed yesterday, and they are bleeding as I type this.
 
The reason for the crash is not farfetched.


The most powerful man in global finance, Jerome Powell, Chairman of the Federal Reserve of the United States (the US equivalent of CBN), increased interest rates last week for the first time in 20 years.
 
 
The reason for the increase by Powell is to stop inflation in the US, which is making it harder for people to buy things as inflation has eroded the purchasing power of the average US citizen.
 
The implication of this decision by Powell is that institutional investors known as whales in the investment community are fleeing from risky assets that include crypto currency assets like Bitcon and tech stocks to risk-free assets like Treasury bills, bonds, US dollars, or any debt obligations issued by the U.S. Department of the Treasury because the "full faith and credit" of the U.S. government backs them, again  those whales  want to preserve their capital and make profits.
 
That is the summary of what is happening in the market and the reason for the blood bath.


But the opportunity is a life-changing one as we might not see this opportunity repeat itself again in our life time.
 
Now is the time to enter the bear market and purchase stocks and crypto assets that you were not able to buy  while the market is at an all-time high.
 
What is happening at the moment is like entering the crypto market before COVID came in 2020 or buying Telsa stock in 2019.
 
We all know what happened afterwards and how it ended , as a new class of millionaires and billionaires in dollars were created.
 
The same chance is here again, because this crisis will create new millionaires and billionaires in the next few years.
 
Wealth will be redistributed in a way that we have not seen in the last few decades.
 
That said, good luck to all the retail investors.
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