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What's your crypto plan in the event of a recession?

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by COINS NEWS 202 Views

Many people including myself are loading up on Crypto whilst its on sale, hoping to make a chunk of change as it climbs back up to its ATHs.

I think many people are assuming 'crypto goes down, crypto goes up' as the Ukraine invasion slowly drags out and comes to some sort of conclusion. Let's be honest, it's equally possible 'crypto go down, crypto goes down again' because its happened a million times before.

I'm by no means an expert in anything but there are two big red flags. The first was the inversion of the bond yield curves. Add to that the ongoing inflation and cost of living crisis. Here in the UK, consumer confidence is lower than during the 2008 crisis. The US and elsewhere don't seem much different so people are spending less, with economies slowing.

Stranger things have happened and we might avoid a recession, but I think its likely that we hit one. So my question is, knowing that there is a strong chance of a recession, what is your plan?

My plan is to drop reduce the crypto spend 50% - 75%, increase the cash reserves and get ready for a Black Friday size sale later this year.

Anyone taking a different approach?

submitted by /u/Iron_Defender
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