President Joe Biden’s winning the American major election happened at a very intricate time. The Coronavirus pandemic had hit hard, people had lost their jobs, others were displaced and thousands of lives were lost. Who can forget the ‘Black Lives Matter Movement that was happening around the same time?
Americans had lost all confidence in former president Donald Trump. He seemed to be clasping on straws, unable to provide viable solutions to the people’s problems. Joe Biden, therefore, felt like a Messiah to the people who were desperate for change.
Unexpected turn of events
Months after the election, things seem to be taking an interesting turn against the president’s favor. Biden’s approval ratings have been on a constant downward trend for a while now. Americans seem to be losing confidence in their president for a host of reasons.
Biden is losing ground on the following key issues:
- His ability to handle the Coronavirus pandemic – Even with the vaccines, Americans are witnessing more Corona cases and consequent deaths. Biden’s Coronavirus pandemic approval has been declining at the same rate as his overall approval rating.
- His ability to handle the economy – His average approval rating on the economy is on the downhill as well. This is likely tied to other real-life events. These ratings should be a worry to Biden because the economy is a key performance and competency indicator.
- His hold of the US military – A few months back, Biden declined the withdrawal of American troops from Afghanistan. He stirred up a lot of anger and his overall approval ratings showed a sharp decline. The troops were finally withdrawn and now most Americans wish that wasn’t the case.
Crypto to the rescue
With the U.S stocks sinking, investors are exploring options in other financial areas particularly Cryptocurrency. Even foreign investors will be turning to Crypto and not the U.S markets.
Since the pandemic, Cryptocurrencies are becoming more appealing to investors in times of crisis. Long-term investors can invest in the Cryptocurrency market to hedge the risks during an economic crash.
Both Bitcoin and Ethereum are suitable short-term havens during extreme stock market plunges. For those who cannot handle the extreme price swings, stablecoins might be a safer bet.
Forgetting their extreme volatility for a moment, here are a few reasons why Cryptocurrencies are a safer option.
- Immunity to inflation – could it possibly get better than this?
- Decentralization – Not controlled by banks or the government
- Limitless potential – exponential growth within short periods
- It is better than gold as a haven
- Convenience – everything is done virtually
Article by Dena Falken for The Outlooker.