Bloomberg is really pushing the idea that cryptocurrency is not the new gold (i.e. a safe haven for stock market correction). I totally believe that they are wrong and trying to manipulate the cryptocurrency market to favor the stock market. I know someone that was trying to sell gold and gave up because everyone wants cryptocurrency. I think cryptocurrency is the new gold, but not in the same way we have used gold in the past. The reality is the stock market moves much much slower than cryptocurrency. It would take the stock market forever to recover from a recession, while cryptocurrency will recover in far less time and potentially outperform the stock market many times over. The fact that the cryptocurrency market is down is a bonus. I think investors can make massive profits if they dump stock for cryptocurrency right now. Even if cryptocurrency goes down further, it will still recover in less time. Bitcoin however could be a bad decision. STEEM is the new gold!
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