On June 18, 2022, Bitcoin’s price dropped under $20,000 for the first time since December 2020. Bitcoin showed a remarkable growth during the COVID-19 pandemic, especially during the lockdown era, with the price of the digital currency surging by 300%. However, as the famous saying goes, “The higher they rise, the harder they fall,” which is what Bitcoin is experiencing.

Over the past couple of weeks, investor confidence has been dropping in both the crypto and stock markets. Moreover, with the current economic climate, many investors have begun offloading most of their investments as there are rising concerns about a potential recession, leading to a crypto bear market.

Currently, due to various domestic and international events going on right now, the United States (U.S.) economy is performing poorly. From high gas prices to even higher inflation rates, some people are speculating the worst.

Since the COVID-19 pandemic, the housing market has continued to rise in value, although the economy has been in a recession. With the fear and uncertainty of the pandemic, many began purchasing homes, ultimately raising the average house price.

The ongoing COVID-19 pandemic halted and slowed down international travel demand. Now that many travel restrictions have been removed or loosened, leisure travel has increased.

Inflation has increased significantly since May 2021, due largely to supply chain disruptions from COVID19 and Russia’s invasion in Ukraine. The investments that perform well under inflation and retain all or most of their value can bring in more cash

Due to COVID-19, everyday items have begun rising in price. For example, according to a report released by the Bureau of Labor Statistics, certified pre-owned cars have raised in price by 41.2%.

The rise in the number of jobs available caused the unemployment rate to drop to 3.8 percent, down from 6.2 percent in February 2021. As the unemployment rate continues to decline and more people can find jobs.

The Bureau of Labor Statistics recently reported that the inflation rate for the past year had surpassed six percent. Protect yourself from inflation by investing your money through these methods.

Good financial habits are key to bettering your personal finance. Controlling your money takes discipline and implementing effective practices. Not everyone will have control of their money, but steps can be taken to get there.