Crypto Crash Today: Should I Buy Cryptocurrency Now?

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Crypto Crash Today: Should I Buy Cryptocurrency Now? What happened after the previous crashes?

Crypto Crash Today: The Crash of 2017-18

In September 2017, the Federal Reserve announced that it would begin reducing the size of its balance sheet, a process that continued through early 2019.

During this period, Bitcoin went from $3,000 to $18,000 in 3 months and then collapsed to $3,000 over the following 13 months. It was then multiplied by 3 during the following 12 months and multiplied by 3 during the following 18 months.

The crypto market was much smaller then, around 5-10% of its current size, around $100 billion, Bitcoin alone was at $65 billion. The wealth of American households was then about 92 trillion. In the second quarter of 2019, US household wealth rose to $114 trillion.

So what we do know from 2017 to 2019 is that Bitcoin prices had doubled as US household wealth grew by nearly 24%.

American household wealth is about $150 trillion now. Not to mention that cryptocurrency is traded all over the world. Global wealth that was around $280 trillion in 2017 is now over $400 trillion.

The cryptocurrency market is worth around 2 trillion now. In the context of national and global wealth, its share is less than 1%.

Here is a summary

Last time the Fed shrunk the size of its balance sheet, prices doubled in 18 months While the pace of global wealth growth is likely to slow, cryptocurrency’s share is less than 1% of global wealth. So there is substantial room for expansion. Cryptocurrency continues to make its way into the wallets of wealthy and middle-class households around the world. There are many published surveys on this. Crypto Crash Today: So Should I Buy Cryptocurrency Now?

Now, will history repeat itself? Time will tell us. But what we know should give us confidence in what can happen next. That said, the usual discussions around the usefulness of cryptocurrencies will continue to affect prices and valuations, so it can’t be ignored too.

The trade is yours now to make. Buy or sell?

Sub-hash

Publisher Crowdwisdom360, a global crowd-based prediction publishing company

Note: Crowdwisdom360 gathers forecasts and data from all over the net and does not have an internal view of likely stock or coin trends. Please consult a registered investment advisor to guide you in your financial decisions.

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