Cryptocurrency Surges During Government Shutdown

Cryptocurrency Surges During Government Shutdown

When traditional stores of wealth become unstable and uncertainty arises, investors typically flock to safer investments. Holding that notion true, it makes sense that the recent U.S. government shutdown has resulted in a shift in the cryptocurrency market.

According to investors, the shutdown has caused the prices of Bitcoin, Ethereum, and Ripple to soar.

The government shutdown started on October 1 when Congress failed to reach a funding agreement. So far, the shutdown has already lasted 14 days. In the end, a government shutdown can lead to job loss, a lack of federal funding, and other consequences. It’s already led to a lack of pay for military members, forced military leave, slowed air travel, and an estimated $400 million a day in losses each day the shutdown continues.

This uncertainty and atmosphere of fear have contributed to investors looking for safer alternatives to the US dollar.

So, what does all this mean for you? If you were already holding onto cryptocurrency before the government shutdown, then you could be in for a happy surprise! Your cryptocurrency may have become more valuable in the past few weeks, so it’s worth checking out how much you have and what it’s worth.

Have You Lost Access to Your Cryptocurrency or Digital Wallet?

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As cryptocurrencies like Bitcoin and Ethereum continue to increase in value, it’s becoming even more important for investors to access previously purchased coins. Often, these coins can get forgotten or lost because the original value was minimal, but those small coins could be worth significantly more today.

For instance, Bitcoin hit an all-time record high of $125,835.92 during the shutdown. One singular Bitcoin you purchased years ago could all a sudden be worth tens of thousands of dollars!

If you’re interested in regaining control over your lost cryptocurrency, then let our team help you! We’ve successfully recovered over 2,000 Bitcoin for hundreds of customers and resolved at least 30 very complex cases.

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