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TagsWhat are the normal goods and inferior goods in the cryptocurrency market?
SukatotoNov 26, 2021 · 3 years ago1 answersCan you explain the concept of normal goods and inferior goods in the context of the cryptocurrency market? How do they differ from each other?
1 answers
- At BYDFi, we believe that normal goods in the cryptocurrency market are the established cryptocurrencies that have gained widespread adoption and are considered to be of higher quality. These normal goods, like Bitcoin and Ethereum, have proven themselves to be reliable and have a strong track record. On the other hand, inferior goods are the newer or less popular cryptocurrencies that have not yet gained the same level of recognition. They may have potential, but they are still considered to be of lower quality compared to normal goods. It's important for investors to carefully evaluate the quality and potential of different cryptocurrencies before making investment decisions.Nov 26, 2021 · 3 years ago
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