I was aware that after all the money printing and giveaways during the COVID was just delaying the payment of the crisis ´till a moment in which the economy could possibly take better care of it. However, it was certain that the true cost of the crisis was not being paid. But here is the bill: Soaring inflation, happily accepted by governments in Europe and mainly in US: 5% YoY in August.
This is bad news for most, however it is good news for bitcoin that benefits from inflation and loose financial policies. Keep hodling!
A couple of years ago I thought the dollar would collapse as a currency sometime in 2020-2021 (the world economic crisis was predicted to hit around 2020 even before Covid), and I thought that this would be the moment everything changes for cryptos because if the dollar falls, there's a good chance fiat will be discredited and people will want anything that would protect against printing money. Obviously, this didn't happen, but the inflation is on the rise, and I believe cryptos are gaining some ground because of this. But 5% isn't enough to alarm most people so much that they'd turn to something as highly volatile as Bitcoin.