As the Federal Reserve continues to hike interest rates, investors should expect markets to “break,” said Clem Chambers, CEO of Online Blockchain.
“Everyone remembers the big drop in 2008, but there was a bear market in 2007, which was an oncoming storm,” he said. “I think what we’re in now is potentially an oncoming storm.”Some analysts have suggested that stocks and crypto are experiencing a bear market. Chambers claimed that, as a hedge, he had taken a heavy position in cash, despite his assets being “eaten away by the moths of inflation.
“Rather than try to surf this downhill slope, just let it base,” he said. “Save cash, let it base, and then pile in at the bottom.”
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