Online Blockchain CEO Says Invest In Cash Instead Of Crypto
Clem Chambers is the CEO of Online Blockchain. He predicts that Bitcoin will fall in the next months if there are no changes to the Fed’s interest rate hikes. Chambers predicts that there will be a cryptocurrency market. He also suggested that investors keep cash in reserve to protect against the decline of stocks. It seems that the metaverse is also dangerous for him.
He said, “I’d rather have my money in Benjamins that in Facebooks.”
Despite the fact that cryptocurrencies and equities have seen a significant drop in value this year, the CEO stated that it wasn’t over.
“Everyone remembers the 2008 big drop, but 2007 saw a bear market that was an oncoming storm. I believe that the current situation is potentially a coming storm.
This is contrary to popular belief in the cryptocurrency world, where many view Bitcoin as a hedge against inflation. Chambers stated that he plans to save money until the market bottoms before investing in low-cost assets. However, he did urge investors to invest high-risk businesses.
“Snap some money from your pile and put it to one-side and high-risk stuff.”
Inflation reached a record high of 9.1% in June 2022 but dropped to 7.7% by October 2022. The market environment is still very grim, even though the inflation rate is declining. BTC trades at $17,174.BTC daily charts. Source: CoincuDISCLAIMER – The information on this website is intended to provide general market commentary but not as investment advice. We encourage you to do your own research before investing.Join us to keep track of news: https://linktr.ee/coincuWebsite: coincu.comHaroldCoincu NewsTags: #BitcoinClem ChamberscryptoOnline Blockchainstock