Friday Market Musings | 20 | 2023
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Technically it's number 19 of the Market Musings today, but we're in week 20, so to keep it easy and clear for myself we just have Market Musings 20! Why make it difficult when it can be easy?
Going easy also means that I have to put my thoughts in order. Last week I told you that I sometimes had my doubts whether cryptocurrency was still worth my time and effort. What better way to do than to zoom out for once instead of staying in the moment. So I took a look at, for example, Hive since January 1, 2023. And then when I look at the past 20 weeks, it looks like this:
This is something we tend to forget so easily. We have certainly seen higher values in the last 20 weeks. But, despite the latest dip, Hive is still a good 12 cents higher than it was on January 1, 2023. If I didn't have any doubts then, why should I have them now?
It probably has something to do with the fact that I didn't have so many setbacks in life back then. I mean, the car didn't need to be replaced yet, the washing machine just worked and the prices in the supermarket also seemed a bit more affordable than now.
The car has now been replaced, we had to buy a new washing machine and prices in the supermarket seem to have gone up every week. But there is nothing cryptocurrency can do about that. So is it worth my time? Surely the answer to this is obvious, YES...it's worth my time.
And of course, cryptocurrency won't be smooth sailing either, and there could certainly be more portfolio pain ahead. You don't need to have studied higher mathematics to come up with that. You just have to listen to the news. And that doesn't sound so positive when you hear that the US Treasury is about to go bankrupt.
Yes you heard it right. It may sound unbelievable, but if you've followed a bit of news in recent weeks, this won't be a secret anymore. It's really coming. Unless Joe Biden gets his way and the debt ceiling can be raised. However, the Republicans don't seem to be able to agree with that yet. And if that doesn't happen, the US is about to hit the debt ceiling in June. Which means the US will be officially bankrupt. In fact, this had already happened in January, although a trick could then be played that suddenly left a sloppy $ 800 billion leeway.
What will happen if the US government goes bankrupt? is explained in this article described by someone who is already not very happy with the US Government. Only is this real? What will really happen if the US Government goes bankrupt? How will the crypto markets react? We are entering a very exciting time, because in fact, these kinds of scenarios are exactly what Bitcoin was once invented for. We're probably going to see, experience and I'm afraid ... especially feel in our portfolios very soon.
In the meantime, exciting developments are underway via Propchain in which real estate and crypto come together. As everyone knows, there have been significant changes in the way we invest in recent years. The blockchain has brought about permanent change, and this has not gone unnoticed. Many people and sectors have dived into this, but the real estate sector has lagged behind.
Although real estate is a known, trusted and stable asset class, it still remains out of reach for a large part of the population. And that is what Propchain wants to change. They just want a fair chance for EVERYONE to build wealth by investing in real estate!
Through their PROPC token, it is possible for users to take advantage of the benefits of blockchain and fractional ownership. Propchain strives for a future where real estate investment is accessible to all, encouraging financial independence and wealth creation for individuals. If you want to know exactly how, I recommend you to read this Medium article read once. Who knows, it might be something for you!
As every week, there's a lot happening in this never sleeping world of cryptocurrencies. Wishing you all an awesome Friday!