Cryptocurrencies Will it be a hedging tool for investors in light of inflation?

In an interview with Al Arabiya, Muhammad Abdul Muttalib, managing partner of X-Pay for the trading of cryptocurrencies, it was expected that the vision of cryptocurrencies would change in the strategic term.

Abdul Muttalib felt that the entry of large financial institutions into the cryptocurrency market was conducive to changing this view, especially after the sharp rise in the last two years for these currencies, for example what happened to the “Bitcoin” currency, which is the most famous and oldest and most target investors for ease of entry and exit.

He said the currency “Ethereum” ranks second in the interest of investors, while the value of cryptocurrencies is riskier than the amount of risk in the “Bitcoin” and “Ethereum” flags.

He pointed out that the Bitcoin cryptocurrency reached its highest level of $ 65,000, then dropped to $ 28,000, and then returned to rise and fall to get closer during the month. in course at the level of 40 thousand dollars, but despite this the fluctuation remains doubled from its value which has settled for a period at 20 thousand dollars.

He said the recent spate of losses is causing Bitcoin to lose 42% from its high reached about 3 months ago.

Ether, the second largest cryptocurrency, also fell amid signs that the Federal Reserve is preparing to fight lingering inflation by withdrawing the stimulus.

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