Ron Paul Warns of Potential Stock Market Corrections that Could Impact Cryptocurrency
U.S. Representative Ron Paul has recently made a press statement that suggests the correction of the stock market by up to 50%. Consumers that are involved in the crypto-trading world may want to take this statement as a warning to secure their investments while they can, looking at the changes in the market. In fact, some investors tend to gravitate towards low-risk investments, rather than maintaining their high-risk assets.
Most people see Ron Paul as the man that does not shy away from the grim financial reality that the United States lives in. His statement in regard to the correcting of the stock market takes note of the spenders in Washington, who seem to be unaffected by any kind of deficit. With the wealthy maintaining their riches, the rest of the economy is “destined to go down,” which is largely due to the overprinting of currency. He further notes that the downfall of the stock market will likely go lower than the rest of the population expects, which “always” happens.
If the major corrections occur, it only makes sense that the cryptocurrency world would go down, as less funds can contribute, and more investors hold their assets tightly. Representative Paul almost seems to make like of these concerns for the economy, stating,
“I personally would be better off if I did buy a little bit more gold.”
However, the representative has also said before that he believes that bitcoin could easily “destroy the dollar.”