Ideas Advise

Ideas Advise

Bitcoin / U.S. dollar BITSTAMP:BTCUSD


Glad i kept TA aside ,Good points and let’s dig a little deep into that! El salvador still accepts USD along with BTC! The GDP of most countries which could potentially follow suit are less than 50B$s and some are in the millions. For instance El Salvador GDP is ~27B$s which won’t even put a dent to USD. Moreover all of this would even matter only if countries start using BTC as a reserve currency! Currency used for daily transactions wouldn’t do much to the value of that currency. Everyone knows this especially the FED’s hence they allowed crypto payments in the mainland too. The top ten countries holding USD as the reserve currency would never switch to BTC and the number one holder is China and we all know by now they definitely won’t ,Also worth noting every country recongnizes holding just USD as a reserve currency won’t be safe against hyperinflation and the likes so they hold gold and other assets as well and shouldn’t be a surprise to see US is the biggest holder of gold reserves.So yep I don’t really think BTC would or even could replace USD or any other currency in any meaningful way but BTC could go places as the new asset class,Also worth noting BTC is probably the only crypto that can be called a commodity in the US with utmost certainty and less purview from the SEC and the likes! I’m not a pro trader but I was lucky enough to make 25BTC since late last year following the instructions and signals from Analysts Regiane on tele gram . She runs a program for investors / newbies who lack understanding on how trading Bitcoin works,to help them use the volatility of the crypto market and also stack up more bitcoin . You can easily get to Mrs Regiane on Tele gram @ R e g i a n e i d e a s ,for Crypto related issues. Think what would happen to BTC price if SEC aka Gensler decides to open Ripple like cases against other cryptocurrencies deeming it as a security? He already said almost that in the latest hearing. BTC dominance is currently at ~42% a couple of Ripple like cases on couple of other major crypto tokens would easily double it and that would put BTC at 100k 😉 BTC at 100k is inevitable and unstoppable one way or another imho! The companies holding BTC in their balance sheet know this hence they remain BTC maximalist.

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