Moreover, a potential uptick in inflation rates over the next few months or years as a result of this money-printing frenzy is also setting the stage for a jump in cryptocurrencies – as investors believe these digital assets will protect their money from losing its purchasing power. That said, a retail trading boom seen during lockdowns has helped in lifting the price of the crypto asset, as traders have found in cryptocurrencies a potential alternative to fiat currencies amid massive liquidity injections from central banks around the world that could result in the debasement of longstanding safe havens such as the US dollar or the Swiss franc. We are merely sharing our opinions with no guarantee of gains or losses on any type of investment.The value of Litecoin has struggled to recover since the February-March sell-off, which dragged essentially all financial assets to their lowest levels in years as investors hoarded cash amid the uncertainty related to the virus situation.Ĭryptocurrencies were not exempt from this risk-off move – despite the repeated discourse about how these assets should behave independently from traditional classes such as stocks and bonds – and Litecoin was among those that took a heavy blow, losing roughly 75 per cent of its value in a matter of weeks.
It is imperative that you conduct your own research. While it is possible to minimize risk, your investments are solely your responsibility. These videos are for educational purposes only. Tip us with crypto & leave me a note:Ġx1367b01bCeeb883bC15C726107fcA0D01c8772C1ĭISCLAIMER: We are not financial advisers. Get Started (Tax Free Crypto Gains) and get $100 IN FREE BITCOIN with iTrustCapital Today:
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