Being long on the bitcoin price is a sounder strategy today than being long on the British Pound as the currency touches historic lows against the US dollar.
Unfortunately for Brits, this is not a trading decision because if you get paid in GBP you are long sterling.
Should Brits get paid in BTC? Bitcoin price outlook looks better than GBP
Foreigners are fleeing from British assets. Investors are demanding a high price to fund the gigantic and growing current account deficit of 8% – about a year ago it was 2%.
If you are resident in the UK, there's not much you can do dodge the bullet, apart from asking your employers to pay you in the mighty dollar, which keeps getting stronger, or in bitcoin. Bitcoin? Really! Bear with me.
Crypto schadenfreude is sweet
Crypto prices are being pressured lower but that feels like a sideshow when all asset classes are falling in value.
At the centre of the current turmoil is the UK economy and the British Pound.
Indeed, at times like this, holders of...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...