Long-term investment in Bitcoin remains promising despite market volatility, says Kumar Gaurav of Cashaa

economictimes.indiatimes.com:

In a recent interview with ETMarkets, Kumar Gaurav, Founder and CEO of Cashaa, shared his insights on the current challenges and opportunities within the cryptocurrency market. Gaurav discussed how events such as escalating crude oil prices and potential interest rate cuts/hikes by the Federal Reserve could impact Bitcoin and other speculative assets. He emphasized the potential of Bitcoin as a long-term investment and highlighted Cashaa's growth trajectory and future plans, including expanding its services to new regions. Edited excerpts:

How do you perceive the current challenges and opportunities within the cryptocurrency market, particularly in light of factors like escalating crude oil prices and potential interest rate cuts/hikes by the Federal Reserve?
Kumar Gaurav: Events like escalating crude oil prices and rate hikes by the Fed typically can have a dampening effect on Bitcoin as well as stock prices, basically the prices of all speculative assets, as the rise in costs due to increasing costs of fuel and servicing household loans decreases the dispensable or investable income in the hands of the retail consumers.

However, over a longer period of time, this could decrease the confidence of people in the economy, making Bitcoin and crypto more attractive as an alternative investment to save the real value of their wealth. While myriad other factors and correlations must be considered, this could potentially be seen as a good time to invest in crypto and hold over a medium to long-term horizon.

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