Wall Street investors are preparing themselves for the worst year in the US stock market since 2008. There are several events contributing to this downfall, including the vague policies outlined by the Federal Reserve. Furthermore, the devaluation of the Chinese Yuan, combined with a crash in oil prices and slower earnings growth, are not helping matters either. More Wall Street investors are flocking towards Bitcoin and blockchain technology firms, and that trend is likely to continue for quite some time.
Also read: Reinventing Money: Bitcoin and Fiat Unlikely Allies?
Traditional Wall Street Investing Taking a Major Hit
It is no secret that the traditional stock market is slowly falling apart, as the