Post
Topic
Board Bitcoin Discussion
Re: Bitcoin's Image Is Getting Stronger by the Minute
by
kryptqnick
on 30/08/2020, 10:15:04 UTC
If dollar goes down, most things are likely to follow. And I am very unsure that Bitcoin would go up because people mainly think of Bitcoin in terms of its fiat price. As for being a store of value, I think the majority would still give preference to gold due to its long history of playing this part. Bitcoin might win over in the long run, but I don't think it's likely to win in 2020-2021.
Being the world’s reserve currency, however, the dollar is expected to maintain its strength and recover from the downturn as soon as things get back to normal.
who expects this?
i'm no expert but i've been reading a lot of experts talking about how there is going to be a crash soon thanks to the extreme amount of dollars that Fed has printed over the past decade specially the gigantic jump in printing dollar over the past couple of months.
I think the logic behind this is that the US is still world's greatest economy, and so every other country wants dollars and relies on dollars. Thus, this strong demand will push dollar up, helping it to maintain position. From what I've read, however, the current situation is too novel to make reasonable predictions on whether dollar will be okay or not.