In the midst of the Bitcoin crash, Venezuela is affected because the currency has become both a means of payment and a reserve item of value. So many people preferred to allocate part of their salary in an economy without so many variations.
Aaron Olmoseconomist and cryptocurrency specialist, explained to Radio Union that situations such as the war between Russia and Ukraine, and what happened in the ports of Shanghai, affect these markets due to instability. What causes them to withdraw their money and direct them to other investment and refuge mechanisms such as gold.
“You have to remember that all this happens in the midst of international events such as global inflation in the United States. Which is 8.3% annualized and represents a very high value based on the last 40 years. This is a product of the monetary policies applied by the Federal Reserve in response to the three trillion dollars that circulate. A consequence of the vision of delivering money oriented towards stimulus packages by the Monetary Fund in response to the pandemic”, Olmos pointed out.
However, he urged to remain calm, as he assures that this is not the first time that this type of situation has been recorded. “It’s not the first time it’s happened. The important thing is to remember that in the 13-year history of Bitcoin and crypto assets that represent value and that have solved problems, they tend to recover their price in the long term, “he assured.
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