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Three measures that savers should consider in times of low interest rates
The persistently low interest rates are forcing savers and investors to rethink. Three measures can effectively help you to achieve your goals despite low interest rates.
The days when savers and investors received adequate interest credit on their savings account at the end of each year are long gone due to the monetary policy of the European Central Bank.
In parting from Draghi, not only was the deposit rate lowered by 10 basis points to minus 0.5 percent, the controversial bond purchase program was also reactivated. Since November, the ECB, together with the national central banks, has again bought bonds from governments and companies with a monthly volume of EUR 20 billion, initially without any time limit.
And even after Mario Draghi moved to Christine Lagarde as President of the European Central Bank (ECB), higher interest rates are not in sight for the foreseeable future.
While savers suffer from the low interest rates, those who need to take out a loan to buy a property, for example, can look forward to it. Due to the ongoing low interest rate policy, you will continue to receive loans on extremely favorable terms. However, no noteworthy returns will be achievable in the savings book or call money account. Nevertheless, many Germans still stick to savings accounts, call money and checking accounts when investing. You save – as it seems – true to the senseless motto "hoarding without interest rather than investing sensibly".
A long-term wealth accumulation is not possible with this “savings stock mentality”. The bottom line – after deducting inflation – savers even make a minus business.
A rethink is therefore necessary – in a timely manner. With the right investment strategy, this is also possible. Laureus AG Privat Finanz has defined three measures for a practical step-by-step approach that takes into account each investor individually.
The first measure consists of drawing up a personal "liquidity-on-time balance sheet". Investors should ask and answer three questions themselves.
- Which reserve do I want to be able to access at any time without risk?
- What proportion of liquidity do I expect to need in the next two to five years?
- What proportion of liquidity do I probably not need for more than five years?
The second measure is about the feeling of the system. In order to make a decision and put it into practice, one should not only be able to represent it rationally, but also agree emotionally with it. Only when a strategy is accompanied by a good feeling does it usually lead to success. Therefore, the saver should be clear about what actually prevents him from investing his interest-free overnight money better.
It is also helpful to ask what he sees as the greatest investment risk and what he thinks about exchange rate fluctuations and inflation. Investors should also consider whether the decision to invest in liquidity would be easier if they were certain that the decision could be adjusted or if they knew that the money would be invested sustainably and / or ethically. And the very crucial question has emerged: If I invest now – what can happen to the sum at worst?
The third and final measure is purely practical. There are various solutions that investors can use to keep an eye on the decision to invest, such as slowly investing with a flexible development plan.
You should start with a sum that you feel comfortable with. A flexible construction plan can be increased, decreased and also stopped at any time.
Clever wealth management also allows the 10 percent strategy. You start with a tenth of the available liquidity and divide this amount into six equal amounts, for example, which are then saved monthly in one solution. After the six months have passed, the amount of liquidity is checked again and the amount of the savings plan is adjusted if necessary.
Savers can turn it around as they like. If you are not already in the process of investing new ways, it is no longer possible to successfully build up your assets due to the ongoing low interest rate policy.
Even worse: those who keep loyalty to savings accounts or call money often even make a minus trade, so they have to accept a loss of purchasing power after deducting inflation.
So it is time to take advantage of the opportunities on the capital market. However, this does not mean investing all of your assets in securities from now on. Often, investors are particularly successful when individual needs are taken into account, investment decisions are accompanied by a good feeling, and a flexible and understandable strategy is chosen.
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TOP 3 Bitcoin and Crypto News for Today: 27 April
Bitcoin (BTC), Ethereum (ETH), and XRP price predictions, Bitfinex launches social trading platform, and Binance says a man was hired to kill their reputation.
Today seemed to be a positive day for the three major indexes as they all closed in the green. The Dow Jones Industrial Average (DJIA) went up 358.51 points (+1.51%) to close at 24,133.78. The NASDAQ Composite went up 95.64 points (+1.11%) to close at 8,730.16, and the S&P 500 went up 41.74 points (+1.47%) to close at 2,878.48. All these upswings were based on excitement by investors cheering at the possibility of reopening the economy after the coronavirus pandemic.
As for the news within the crypto world, some of U.Today’s major headlines include price predictions for Bitcoin (BTC), Ethereum (ETH), and XRP, Bitfinex launching a social trading platform, and CZ Binance says that a man was hired to kill their reputation.
Buyers were able to gain some positions, and for the moment, continued growth will continue between the$7,969-$8,200 levels. One event that may affect further growth of BTC is the upcoming halving as more and more people are searching for information on the Internet.
U.Today’s previous price prediction Ethereum (ETH) came true as the altcoin reached the $200 mark on some crypto exchanges. However, a correction phase has already begun as ETH lost 0.72% of its price in the last 24 hours.
ETH has formed a ‘wedge’ pattern, which confirms the end of the short-term rise. Furthermore, there is almost no liquidity at the current levels for buyers to push ETH’s rate higher. The most likely scenario is a drop to its $180 support level, followed by a drop to $160 and possibly below this price.
XRP is falling at a slower rate as compared to Ethereum. The rate for the third largest cryptocurrency has dropped 0.17% since yesterday. With a similar trading pattern to ETH, this confirms a price drop for XRP. There is also a bearish divergence pattern on the Relative Strength Index (RSI). In short, one might expect a decline towards $0.19 soon.
Today, Bitfinex announced that it was rolling you a native social trading platform called Pulse. This new platform will give traders the opportunity to interact on Bitfinex, and will even be allowed to created profiles, visualize their trading history, publish blog posts, and publish and discuss trading ideas with other individuals.
One more interesting feature about Pulse will be its leaderboard, which will show the results of Bitfinex’s top traders, who are ranked by their realized/unrealized profits or trading volume. This leaderboard also supports integration with Twitter accounts.
Bitfinex’s CTO Paolo Ardoino goes on to say that Pulse will also act as a content distribution platform, in which media outlets and data traders will be able to provide real-time information to the Bitfinex community.
Changpeng Zhao, Founder and CEO of Binance, recently tweeted about meeting an individual that said it was his job to intentionally damage his reputation as a Bitcoin (BTC) bull. However, this individual, who worked at a Chinese crypto exchange, quit one day into the job. Zhao goes on to say that a whole team was hired to spread messages on social media.
Just interviewed someone who joined a Chinese exchange that views Binance as a competitor. He was put in a team whose only job is to spread the message “when CZ is bullish, bitcoin will drop”. 😂 He quit after a day.
Earlier, Zhao addressed his BTC price predictions that failed to come true. He also mentioned that some called his prediction as ‘counter signals’. However, Zhao has insisted that he will never be bearish on Bitcoin, and that his predictions have so far been accurate and inaccurate.
Geoffrey Schwartz is an Editor, English Copy Editor and Proofreader currently working for U.Today. He also works as a consultant and with SuissePic, a social project that unites more than 50 professionals in digital marketing, tourism, and based on a common love for Switzerland.
Author: Tue, 04/28/2020 – 02:07