Bitcoin (BTC) despite all the lashes is gaining reputation as a financial defence mechanism. It is well known that when there is no stock market recovery, it is all going to be inflation. It is also seen that major asset prices are trending in a narrow range when compared to their pre-COVID averages except for Gold and a few other assets. Looks like great depression 2.0 is on the dice.
Chris Rossini, Co-Host (on Friday) of The @RonPaul Liberty Report stated, “Economics is about social cooperation, when economics falls to politics, peace and prosperity falls to poverty and violence.”
So, when the reliability of fiat seems unpromising, people are set to think about the fate of their value. Where to store value? Gold used to be a traditional answer and those who do not understand alternatives continue to stock to it.
When the people who keep the game going keep messing up, things are not really promising. The Fed seems to be trying to recuperate the dead. Agreed, that governments will go to the dead end extent to keep their age old system alive. However, it is high time we look for something better and settle for it. Those things that seemed ridiculous before are going to become the reality. This is true about cryptocurrency.
Matt Odell tweeted: “Individuals will naturally seek out defensive technology when they realize the need to defend themselves. This has been true for encryption. This will be true for bitcoin.”
Sydney Ifergan, the crypto expert tweeted: “Governments are here to stay for as long as people approve of it. When the Financial machinery is not working, people find ways like Bitcoin (BTC), Altcoins, ODLs and stuff for financial self-defense.!”
Bitcoin Price is trending at a range that does not touch the top hips and worse lows. Now that people have discovered it, the Giant template for cryptocurrencies is not going to go to zero.
Bitcoin is a new found treasure and people are yet to learn new ways to make use of it. They will learn their ways around it. They will come up with new strategies if the current mechanism does not work good.
Bitcoin might struggle like children learning to walk before they run. However, think of times when there was nowhere to go to if one should store value? They need to simply stay with the Fiat. Times are changing. And the Alternative technology is out.
The hype and FUD will rest and BTC will make to good use. Good times coming with BTC.
Steven is an explorer by heart – both in the physical and the digital realm. A traveler, Steven continues to visit new places throughout the year in the physical world, while in the digital realm has been instrumental in a number of Kickstarter projects. Technology attracts Steven and through his business acumen has gained financial profits as well as fame in his business niche. Send a tip to: 0x200294f120Cd883DE8f565a5D0C9a1EE4FB1b4E9
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