Bitcoin is Not a Non-Correlated Asset - Eddie Yoon #5592

Summary: As the stock market has corrected, we’ve found that crypto is not the safe haven that many investors assumed it to be. Here to talk about this is Eddie Yoon, specializing in business growth strategy, and he explains the relationship between cryptocurrency and the rest of the market. While gold and real estate may not move in sync with the stock market, Bitcoin is a different story. Tune in for more insight. Highlights: -Inflation numbers are a little less devastating than they were last month, but they’re still going up while consumer sentiment goes down -Cryptos and Bitcoin are at a high, but overall, the charts look negative -The job market still appears to be holding fast and strong; is the consumer sentiment wrong? Or is there more going on beneath the surface -Eddie says that more than one thing can be true at the same time -Things like travel have helped keep the economy going 
-Inflation should be coming down towards the end of the year -A lot of this is the Fed over-responding (i.e. temporary supply chain shocks) -The consumer has figured out that trusting large institutions is a risk -We’re going to see a dramatic shift away from classical employment -With cryptocurrency, the major consideration is whether you want to put your trust in the US government or not -The native digital lifestyle has become extremely prevalent, and we’re likely to trends that reflect in where people choose to live -People have recently discovered that cryptocurrencies aren’t necessarily a non-correlated asset -When the stock market goes down, things like gold or real estate might not go down with it -As the stock market has corrected, crypto has as well. It is not the safe haven that people thought it was -Those who had invested in crypto from a diversification theory had a rude awakening -Cryptocurrency has not proved to be functionally useful yet because of its volatility, but we’re still in early innings Useful Links: Financial Survival Network Eddie Would Grow