Post
Topic
Board Speculation
Re: What do you think the effects of soaring prices and fiat depreciation is on BTC?
by
pooya87
on 13/03/2022, 07:05:42 UTC
This is your problem, always your hate for the western world pushes to analyze situations in a way to arrive at the conclusion you want not at the obvious one.
Where did you get that from?!
I don't even see the world as East/West even though I use those terms because that's the language people understand.

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The Arab nations tried to play this game and force the US in a corner, ended up with the US becoming the biggest oil producer,
The "Arab nations" are, as US officials put it, milking cows that have always done what they were ordered by US. In fact some people refer to them as US 51st states since they are already colonized.

Any way back to topic...

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You could look at the price chart and then look the rush of investors selling bread and MRE for BTC.
I have no idea why you think inflation (something we have had ever since modern society was created and paper money was created) means going hungry or having to choose between bread and investment Cheesy

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Again, analysing facts in such a way to arrive to your already established conclusion is NOT analysing, is wishful thinking!
That may be but you haven't given me any reason to believe otherwise!

For me short-term - mid-term, I am expecting a crypto market winter where the price of Bitcoin or other altcoins will be in sideways, I am not expecting again a huge dump just like what happened for the past few years. With all events like this, especially the inflation, Bitcoin is the key for it, and most people for sure starting to seek some solution for what we are experiencing now and they will start to look at Bitcoin and they start to learn why Bitcoin is one of the solutions of fiat depreciation.
In a way this is also my conclusion. By all logic and history I expected bigger rises or at least the beginning of them in March but when I look at the market sentiment, the manipulation and the ups and downs of past 4 months I can only expect more sideways while market participants remain undecided.
What I'm intently watching is the events I mentioned in OP and their effects on bitcoin price.

To be honest, currently investors are still hedging to safer investment assets such as Gold and Silver because of the Russia-Ukraine conflict and that has also made world oil prices rise drastically.
There is no denying that, my point is that investors have a "basket" that contains multiple assets. In the past years bitcoin has been part of that basket, specially since bitcoin market has never followed any other markets.