Whether or not Bitcoin and other cryptocurrencies are long-term inflation hedges and a store of value or simply a “risk-on” speculative assets preferred in times when bond yields are unattractive is yet to be perfectly understood.
Veteran futures forex trader Peter Brandt, who correctly predicted bitcoin’s steep price correction in 2018, discusses his optimistic take on the latest crypto market crash. “So what that we have a 50% correction? … Greed puts in tops, fear puts in bottom,” Brandt said. “This decline in bitcoin is really nothing to panic about.”