The persistent fears triggered by the world prices of American president Donald Trump have increasingly convinced analysts that Bitcoin is now more likely to challenge the US dollar in the coming years.
“The higher bitcoin survives above the dollar in our lives after today,” said Bitwise Invest’s Alpha Strategies, Jeff Parks in a post of April 9.
Investors will not remain any other option than Bitcoin, says Crypto Exec
“The first time, thought struck me and I did not feel like a theory but a real truth with which grappas,” added Parks.
Bitwise Hunter Horsley CEO shared a similar point of view, noting that with confidence in the US dollar and other foreign currencies considered “even lower”, investors are found with less choice.
It argued that gold, generally considered as a safety port in the middle of uncertainty, also has drawbacks around shipping and storage and implied that Bitcoin can be the only option on the left. “You end up buying Bitcoin,” said out of leley.
Source: Michael Saylor
The US dollar index – which follows its strength compared to a basket of large currencies – is negotiated at 102.193, down 5.84% since January 1, according to TradingView. However, Wall Street analysts were mistaken in thinking that prices would strengthen the US dollar, according to a recent report from the Wall Street Journal.
On April 2, Trump signed an executive decree establishing a reference rate of 10% on all imports from all countries, which entered into force on April 5. Reciprocal reciprocal prices on the business partners with which the United States had the largest trade deficits then launched on April 9.
The uncertainty about the rates and fears of a broader recession has been major catalysts for a large traditional and cryptographic decline.
Bitcoin (BTC) is traded at $ 76,301, down 18.37% since January 1, according to CoinmarketCap data.
The author of Bitcoin, Saifdean Ammous, said in an article of April 8 that the problem of America is not with the deficit of a specific country, but with aggregated deficits in the world due to the “printer of fiduciary money”.
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“An ever increasing number of Americans can live from the monetary printer as long as the rest of the world uses the dollar,” said Ammous.
He argued that the real solution is to stop printing the “false silver” and moving to a value store, to name bitcoin or gold as examples.
“Another way to solve this problem would be that the world goes to a standard of hard money and stop using America’s shit, and to give Trump the business surpluses he thinks of wanting.”
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This article does not contain investment advice or recommendations. Each investment and negotiation movement involves risks and readers should conduct their own research when they make a decision.
