Re: If inflation is rising, why isn't crypto more valuable now?
The US Dollar's inflation is on the rise as the pandemic coupled with the Russia-Ukraine crisis have damaged the global economy. Any negative effects on the US Dollar will surely affect other countries' economies, since it's the world's reserve currency. Considering that inflation has increased at a fast pace since the start of 2020, scarce assets/commodities like Gold and Bitcoin should've increased tenfold by now. Yet, Bitcoin is struggling to reach a new All-time-high in price while Gold's been unable to get past $1.9k. In the crypto market, Bitcoin is the one cryptocurrency that moves everything with it. So if Bitcoin goes down, so will the rest of the other coins being traded on the market.
My question is why isn't crypto rising in price if inflation on major Fiat currencies have soared like crazy? Am I missing something here? It's a shame since Bitcoin was long hailed to be a safe-haven asset like Gold. Your input will be greatly appreciated. Thank you.
My question is why isn't crypto rising in price if inflation on major Fiat currencies have soared like crazy? Am I missing something here? It's a shame since Bitcoin was long hailed to be a safe-haven asset like Gold. Your input will be greatly appreciated. Thank you.
Why should they be more expensive? Is the crypt somehow connected with the world of real money, economy, trade? Why, for example, does the photo in your phone, or the view outside the window, not rise in price?
The crypt is now still an alternative reality. Therefore, processes in the real world and in the crypto world are weakly connected with each other. Yes, at times when the crypto was expensive and there was a trend for the price to rise, it entered into an alternative "haven" for the transfer of assets, in an unstable financial situation. Now the crisis is global, and the crypt does not have the status of a "money savior", especially after a 2-fold drop in its price, and ambiguous trends