Will the Retrieval of American Troops from Afghanistan Impact the Crypto Market?
Late last month, the United States concluded its Afghanistan operations consequently bringing America’s longest war to an end. This closes a chapter of the American military history that is typically characterized by colossal failures and lots of unfulfilled promises. Not to forget the frantic final exit that cost the lives of 13 U.S service members and 180 Afghans; some barely older than the war.
The withdrawal seemed from the outside to be a series of chaotic airlifts that evacuated thousands of civilians. Sadly, hundreds of them were still left stranded.
Biden delivers on a campaign promise
President Joe Biden’s winning the American major election last year came as a relief for most for different reasons. The Coronavirus pandemic had hit hard, hundreds had lost their lives, thousands had lost their jobs and a countless number of people were displaced and homeless.
How can we ever forget the ‘Black Lives Matter Movement that had caused an uproar in the whole world?
Most Americans had lost confidence in former president Donald Trump. He seemed unable to provide viable solutions to the people’s problems. Don’t even get me started on his profanity and vulgarity which not only made people cringe but were also deeply embarrassing for Americans.
Biden, therefore, felt like a safer bet for most people who were desperate for change. Biden’s reign has not been without its ups and downs.
This final withdrawal of American troops from Afghanistan means that the president has delivered on his campaign promise to end America’s longest war. This feat was one that seemingly eluded his two predecessors. However, it came at the cost of considerable bloodshed and complete capitulation of the Taliban.
Are American’s still confident in Biden?
The U.S stocks have been plummeting hence fading Americans confidence in their current president. Although the people had pushed for the withdrawal of the troops, most are now conflicted. It is disheartening to see the Taliban back in full control of Afghanistan. People are worried about the safety of the world.
It is interesting to note that Biden’s approval ratings have been on a downward spiral for a while now. The citizens seem to be losing confidence in him on his ability to handle key issues.
Here are the three major issues Americans seem to think Biden is mishandling.
- The Coronavirus pandemic – Biden’s Coronavirus pandemic approval has been on a decline. This might be because more cases and deaths keep being reported despite the vaccines.
- The US military – a few months back there was an uproar when Biden declined to withdraw the U.S troops from Afghanistan. Now that he has, people seem to be rethinking their previous stand. Americans are beginning to question his handling of the military.
- The economy – Biden’s average approval rating on the economy is on a decline; it is probably tied to the pandemic and other real-life events.
Biden should be concerned by these ratings because they are all key performance/competency indicators.
Crypto to the rescue
Cryptocurrency. Crypto continues to establish itself as a viable alternative to traditional investors for the following reasons.
- It is highly convenient due to its virtual nature
- It is immune to inflation
- It cannot be controlled by the government
- It holds limitless potential
With the current political atmosphere, people are afraid of an economic crash. It is therefore likely that more Americans are going to turn to Crypto as a haven for their wealth.
Note: this is an opinion piece by one of our guest writers, due to it’s political nature, views expressed herein are not necessarily the views of Yantum or Certurium.