The price of Bitcoin and other cryptocurrencies will robustly rebound after a sudden drop on Wednesday, after minutes from the Federal Reserve’s latest meeting were unveiled.

In a matter of hours, the price of Bitcoin dropped $3,000, from over $47,000 to just under $44,000.

The Fed minutes heightened predictions that the U.S. central bank will now act faster to hike interest rates to combat surging inflation. As such, there was a knee jerk sell-off on Wall Street and the crypto market, as some traders believe this move risks the liquidity that has benefitted many asset classes, including Bitcoin.

Yet I’m confident the world’s largest cryptocurrency will make a strong rebound once the dust has settled, which will then boost others within the crypto market.

The reason for this is because Bitcoin and other cryptocurrencies are widely viewed as a shield against inflation, predominantly due to the limited supply, which is not influenced by its price.

Bitcoin has outperformed gold during this latest inflationary period, which, until now, has been universally recognised as the ultimate inflation hedge.

Within this climate, amid the peaks and troughs, and as markets never move in a straight line, we will likely see Bitcoin and other digital currencies get back on an upward trajectory.

When Bitcoin fell from its record high of $70,000 in November, I said last month that I am fully embracing this short-term volatility for longer-term gains, as are many serious crypto investors, and I’m using the lower prices to top-up my portfolio.

It just makes sense in our increasingly globalised world to hold digital, borderless, decentralised currencies. As such, I’m confident that digital currencies are the inevitable future of money.

Consequently, for those serious about building long-term wealth, this short-term volatility will be seen in the same way as the majority of other bouts of market turbulence – a buying opportunity.

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