We know the US dollar is the world-accepted banknote and can be used as a medium of trade. In the crypto world, Bitcoin is the most popular and the highest-received currency with incredible value. Different nations have authorized bitcoin for transactions and multiple of them are sentiments. Its approval is slowly expanding day by day. Do you think bitcoin will be the commander of the worlds currency market like the US dollar in destiny?
While many people see Bitcoin as the lead, in actual fact it seems to be the follower to what is happening in the main economies of the world. You could see this for yourself if you were paying attention to the interest rates, it was no coincidence that when cheap borrowing started to get more expensive, that the most risky assets were the first ones to drop. All that cheap money was creating a bubble of speculation which drove Bitcoin up to the high price it hit. Even before the latest disasters like the Russian invasion of Ukraine, you could tell that companies were starting to wobble with profits and consumers were starting to rein in their spending as the years of excess give way to the years of bust. Bitcoin rid the wave, some people made lots and others got burned.