 | A devaluation of the US Dollar would not directly boost the value of Bitcoin when other fiat currencies (or even CBDCs..) are staying strong. For some people the value of Bitcoin would remain the same, though, it's dollar valuation could change. There is a big and important difference there. --- Most exchanges measure the value of Bitcoin in US dollars. Many in this sub therefore believe that the value of Bitcoin is $ XX. It's definitely an easy and reliable way to get an indication of value, however, valuation should be established with care. Let's have a look at the charts below. It's clear to see that "the Bitcoin value" is subjective and highly dependent on the country you are from and/or the currency you are trading against. For example, as shown above, Bitcoin holds a lot of value in Turkey right now. The above are extreme cases, of course. Though, it does show us something important: The value of Bitcoin is not directly impacted if hyperinflation of the US dollar ever occurs. Yes, the BTC/USD pair will change, but others may stay the same. Especially with a weaker dollar and with stronger upcoming fiat currencies. In any case, holding Bitcoin over the long term seems to be the best play for now. And with the next halving coming up I'm not betting against that. 1 Bitcoin = 1 Bitcoin seems to hold quite some truth afterall. --- And yes, USD hyperinflation will cause much more havoc in the markets that should not be ignored. However, that's beyond the scope of this post. To those who took the time to read this post; I hope I was able to show you a different perspective on the value of Bitcoin. Cheers! [link] [comments] |
You can get bonuses upto $100 FREE BONUS when you:
💰 Install these recommended apps:
💲 SocialGood - 100% Crypto Back on Everyday Shopping
💲 xPortal - The DeFi For The Next Billion
💲 CryptoTab Browser - Lightweight, fast, and ready to mine!
💰 Register on these recommended exchanges:
🟡 Binance🟡 Bitfinex🟡 Bitmart🟡 Bittrex🟡 Bitget
🟡 CoinEx🟡 Crypto.com🟡 Gate.io🟡 Huobi🟡 Kucoin.
Comments