Bitcoin Forum

A 20% de facto devaluation of the dollar has occurred this year:

Almost a fifth of ALL US dollars were created this year. (https://www.cityam.com/almost-a-fifth-of-all-us-dollars-were-created-this-year/)

And what's left to come. The price of bitcoin does not depend only on supply and demand. It also depends on the appreciation or depreciation of the currency with which it is compared. With the current times, much more currency is going to be printed and much more is going to be devalued. Seeing the price in fiat getting higher and higher, demand is going to increase due to FOMO.

See you on the moon.

Too much money is printed while economic activities are stalled by disease and they have to be diverted to reserve channels. Bitcoin, stocks and gold have all risen together this year. I think if Donald Trump continues to be president of the United States, then the value of Bitcoin will be pumped up even more. He will continue to urge the Fed to print more money and release it to the market.

It's basically a supply-demand principle as well. The supply and demand of a particular currency will determine its value. And the supply and demand for Bitcoin will determine its price. Multiple variables are connected if we talk about price; therefore, we need ceteris paribus or only consider one variable at a time. If the supply of USD increases, ceteris paribus, yes, the Bitcoin (USD) price will go up.

Let's say even if there is hyperinflation, my origami won't necessarily become more expensive if no one wants it.

My exact thoughts.
Inflation is not just a decrease in the value of a currency due to supply shock or scarcity of products, but it is equally represented as an increase in the price of goods. So, if the value of Bitcoin goes up when priced against the USD due to inflation, the price of products purchased by the USD would have also increased to counter this change.

Bitcoin can be used as a hedge to escape hyper inflation, but inflation does not directly make Bitcoin more valuable imo. Think of it as a balance scale, with two weights on each side; if one gets lighter, the balance shifts, as the other one pulls the scale towards its arm without any increase in its weight.
Hopefully in the future, Bitcoin would be priced against actual products and work hours, rather than against fiat currencies.

It is possible that what we are seeing right now and the price increase we have seen in bitcoin during this year is linked to that, after all we know governments around the world and not only the US have been printing money in a scale that we have never seen before and they think they can get away with it because that has been the case for decades, so why this time should be different? But I think we are reaching a breaking point, the economy and the people cannot simply take this kind of increase without doing anything about it.

And many people are moving to gold as it has been a safe haven for thousands of years, but now people are also considering bitcoin as a store of value and if enough people do this the price increase we are bound to see during the next decades is going to be spectacular.

Has to go up is a pretty strong statement. When we talk about the limited supply of Bitcoins we do know that sooner or later when the supply will be halted due to Demand and supply we will hit high for sure.
At the same time I do think that the current pandemic situation is really something that has made everyone question the economic stability and people and firms alike have started investing in Bitcoins and other cryptocurrencies.
We don't know what price would it be , but I do think that the applications and the overall usage of Bitcoins will increase as a whole.
It's not just about America .. we have many other countries in a worse situation !!

There are many nations whose GDP is still going down and might get hit by recession soon..

I think Op can be right about the devaluation of dollar having effect on the price of bitcoin. Dollar is a major converting currency for bitcoin and price or strength of dollar has been dropping either because of the fomo in the election, this is affecting the price of bitcoin as it is increasing since the beginning of the election and the direction of the results create more fear.

OH MY GOD
are you serious about the dollar?
if that is the case, the BTC is gonna rise like hell.
however it may crash again.

Soon? Most countries fall into recession at end of Q2 of this year. They had two quarters with negative growth of GDP. That is a technical recession.  There are only few countries doing well right now. China, Vietnam, Bangladesh and maybe few more. The rest are in deep shit and are getting indebted drastically. Spending even 20% more then they produce.

Yeah, and interest rates near zero and a lot of other factors. 

Funny how the US election affected the stock market and bitcoin yesterday (and today somewhat).  I'm not sure exactly why investments are booming even more than they have been, but traders are obviously expecting an economic recovery happening faster than expected.  I do hope that happens, but we'll see. 

And man....go, bitcoin, go!  Nice to see it headed toward its ATH, and I seriously didn't think it would get anywhere close to it this year.  Bitcoin surprises me once again.

But in exchange of having more printed dollars is the weakening of it, looking at the value of dollar makes me not want it anymore because it continously drops. This is why I am very positive that bitcoin will rise after the dollar's sick, especially now that the election in the US exaggeratedly affects the bitcoin price or should I call it just fine? Other currencies than dollar is getting stronger on the other hand, maybe a year or two I'll start to see people converting their local currencies into Chinese yuan or Japanese yen.  ::)

Everything goes up when the CB's print too much FIAT. Everything. That's not bitcoin's success imo. This is the FED's failure. It is going up way higher than the other assets because it is way smaller than them.

I'd rather would want to see bitcoin going up against the strong&tight dollar. That would mean a lot more.

Lol where you said it doesn't depend on supply and demand afterall ;D what you explained there is still the same supply and demand that is causing the Bitcoin to keep increasing in price.

The price will be momentum for now, and people will have FOMO for sure since the time it took to move into $15,000 from $12000 was a short period unlike before, they are rushing it now, so we are likely to see more of the fast movement up on the chart, especially now that December is coming.

I am not sure about hitting another ATH price, but we are close to a very big thing from here. From all these, we can be sure about 2021 would be another more exciting year for this crypto space, let's wait and wait whet time unfolds on this regard.

I was a bit skeptical about his assumption of demand and supply of Bitcoin. Another ATH is feasible as the price isn't relenting anytime soon, we could see another one definitely

Don't bee too caught up in the whole predictions it's all his imagination. Yea, you can expect a significant rise in price to a level, which is expected but don't expect too much.

I agree. Because it is possibly the reason why large companies and investors are buying Bitcoin to get out of the crisis that is coming. Each of them are maintaining their stores of value in Bitcoin and are adapting their products with crypto as PayPal recently announced. The future is Bitcoin and the digital age.

What he was saying about bitcoin price not only drive-by supply and demand of bitcoin but also the depreciation of the currency, in this case, the US dollar devaluation.
it's a common thing that prices for goods and services to rise due to inflation, so does bitcoin price, just like gold which has relatively stable value over centuries.
Although bitcoin price is more volatile than gold, it still holds the value as an alternative to central bank-controlled fiat money.

Looks like trend will coming to our Cryptocurrencies soon,This is Good news for our community specially our market here as Moon is near to cover us.
Yeah Best example is PayPal and some un named companies that are now investing inside crypto as company asset.
There are couple of threads across forum that talks about this and i'm sure we are now seeing the much awaited another ATH of bitcoin.

If USD really is devalued by 20%, which is a pretty bold claim, than Bitcoin should have gone up by 20%. Instead it increased by more than 50% in the last few weeks. Bitcoin isn't reacting to inflation, it's simply experiencing a bullish cycle, just like it was in 2013 and 2017. Even halvenings are a better explanation, because you can draw a pattern that after each halvening the price tends to go up in a long bull market.

I agree with you that the more people start to realise that FIAT is not the solution we should see a rice in bitcoin prices. More and more people should stat switching to crypto currencies. EUR, USD and GBP are all dropping and bitcoins are rising this year.

Not sure if we meet on the moon, I think the Chinese will be first ;)

It's very dangerous to say Bitcoin has to go up. At the moment that is the most likely path, but there are always developments that can shake the price back down. For instance - a billion dollars worth of bitcoins was moved from one wallet to another wallet yesterday and it was allegedly from the silkroad coin vault. That means either the person who controls the wallet has given it up (unlikely) or somebody, likely to be law enforcement, have likely found a way to crack the wallet and want to move the funds elsewhere. Lots of people were trying to break into that wallet and it is possible that supercomputing power has finally been able to break in. That could be quite a dangerous development for bitcoin if any sort of weakness was found, but it might have just taken a very long time to crack and it would make more sense to the average person to spread such a large amount between many locations for increased security.

This year printing a huge amount of money by countries especially US make USD to kneel before bitcoin. Because the inflection rate is increasing, also people are looking for profitable asset to invest on it, like bitcoin and gold. That's why the bitcoin price is increasing this year. However, since we are talking about bitcoin using words like "has to"/"should" is not cleaver. Also don't forget even during the covid-19 Bitcoin market is acting just like safe hedge against inflection that's the reason why people are demanding bitcoin and demanding bitcoin will increase the price.

bitcoin at this time the price will continue to rise if everyone needs and invest in bitcoin I see the potential for this year bitcoin has always been an attractive investment and until whenever it will be a future investment that will be an option for trading and profit will be the right investment for everyone around the world.

I agree with the US dollar devaluation that made the price of bitcoin go up, but besides that there have been many positive effects by whales in America as well.
Michael Saylor (Founder of MicroStrategy), a big fan of Bitcoin recently, has talked a lot about Bitcoin's bright future in the coming years.
Even large investment funds like Square have spent more than $ 50m long-term investments in Bitcoin. in the future we will see more large hedge funds entering the crypto market after this Halving event.
So, congratulations Bitcoin's loyal fans for being right in the long-term hold ;)

In a few years, there are a lot of people who consider that dollar is a safe heaven for fiat currency, especially some traders out there. But, it can't be happening in a long time since we know there will be many factors who will make the dollar price down a lot especially at this moment when pandemic came and destroyed the economic sector the government should make a solution to print a lot of money to recover the situation and surely the dollar price will decrease. As an investor or some people out there need a good place to store their money to still make a profit. And yeah, I just hope they choose bitcoin as the solution. This situation has happened a few months ago, the first stimulus from US government has given a good thing for bitcoin price movement.

Bitcoin has to save us from the shit of fiat currency and as expected to the government, they will continue to print more money that will result to a much devalued money in the future, that's why cryptocurrency is a big thing and the government wants to stop this one. Inflation is increasing, and it always goes up every time calamity happens, while Bitcoin remains volatile just like a normal market. Everyone must start adopting Bitcoin now, this will be the future of currency, the government can't stop this.

Bitcoin has a lot of surprises on it's value which we can't pin point when it comes or what affects it. Maybe there is a point that the devaluation of dollar makes bitcoins value increase which is really good for the side of bitcoiners. If that will be the factor affecting the current value of bitcoin , I think there is a possibility that the value of dollar will increase more while bitcoin surge high once again. Then as the value of bitcoin keep on increasing ,for sure it will also attract more demands and investors.

It still doesn't have to go up just because failure is occurring elsewhere you cannot assume BTC is somehow able to cope with and gain from that failure.   Sometimes a negative will drag everything down, ultimately dollar is becoming inefficient and unreliable and so many other methods of trading value are promoted as replacement in theory.   However it makes more sense for countries to trade directly and in commodities often without any currency used at all or you may see the dollar fall and another FIAT rise.     There is already a replacement for Dollar ready to take over but it not held or distributed to people just yet but it could be tomorrow if need be because we have digital currency thats possible.  Crypto is something else, something new and could easily find great opposition from every competing standard despite dollar decline.

News broke in the media that the US Department of Justice had confiscated more than a billion dollars worth of cryptocurrencies, in particular bitcoin, that belonged to the founder of Silk Road, Ross Ulbricht, who is serving a life sentence. And again, a large volume of Bitcoin falls into the hands of the US government and their further fate can greatly affect the rates of the cryptocurrency market. I would really not like the government to put up 69,370 BTC for sale in one fell swoop, which could collapse the market. Such government actions are perfectly acceptable, especially given the economic crisis.

Bitcoin started the year at 7 thousand dollars, it has peaked over 2x profits right now, and we are also at a level where we haven't seen since the ATH times, which shows you that what USA did and why dollar is a lot more worthless to many people's eyes (even if not in economical sense) while bitcoin is still quite valuable. This is the exact same reason why I keep saying that people should focus on having as much crypto as possible instead of focusing on how much their crypto worths.

I do not care how much 1 bitcoin worths, I want to have 1 bitcoin and that is the end of the story for me, I want to have 32 ETH so I can stake it, I would be happier if I can have even more, these are the numbers I care about because even when crypto prices increases, I know that it increases due to fiat becoming worthless and that is a sad thing.

In my opinion, it is a pure demand-supply principle. It explains why the price of bitcoin goes up recently and even in the past. If no one likes bitcoin and no one cares about it, how can it have such a high price at the moment? There are many reasons why bitcoin increases and increases, but all of them related to the demand-supply principle.

Because of the inflation of our monetary system, people have shifted their belief from paper money to cryptocurrencies. Even though there still numerous things need to be done in order to spread the impact of bitcoin, it is now acceptable for people like us and whoever wants a safe haven to avoid being affected by the traditional economy

Yes of course, there are other factors that have influenced.

I opened the post because I discovered that 20% of the total money printed by the FED has been printed this year. That's an outrage. It has been printed this year as it took many years to print in the past.

Actually, with the printing of money, not only will the bitcoin go up, because the money printed usually goes to the financial assets, but I understand that especially to the bitcoin because it is especially good for protecting against inflation.

Many people think they really understand bitcoin,when and where it will rise in the market. If bitcoin can go up after pandemic show that bitcoin can still up than this in this season which remain 1 month and few weeks for us to enter 2021.
Many countries printed more money to boost up their economy that will also make the citizens not to experience any hardship in the country. More dollars has been distributed by the government to different state in US to boost up their economy that covid-19 has collapsed. Many citizens of US are still praying, that God should give them some one that will lead the country well not to fall. US election result are still counting which someone most surely image as a winner.
Since the election was free and fair in the country show that someone must win.
I think once the winner of US election is announce definitely bitcoin will change it position positively.

Apart from this there is one more potential factor that can affect the crypto badly and that's politics. I do not want to give another wing to this discussion but I believe that with Mr. Biden getting hold of the country, US dollar will be up real soon.  We know very well how things were not good enough in the kingdom of Mr. trump. The whole thing is connected with king itself, how they manage the country, their businesses and more! They cut off the many imports and exports thus ultimately affecting value of the US dollar in the market.

The over-printing of dollar was not helping and will never help anyway. This devaluation will be for dollar only and other dependent pair currencies. However, there is poor chance that it will affect BTC or crypto.

See yah! But I don't believe that the demand is increasing due to FOMO. The big players have learned in the past that they can't measure the potential of bitcoin and while it's not yet reaching the peak, if there's any, they are buying it. There's a saying that "sky's the limit" and these big enterprises and companies are doing their best to accumulate as much as they can. They got a hint from Grayscale and probably other low-key companies are doing it silently. The demand that we see can be said as a natural demand bitcoin has. Every year, the demand of bitcoin is growing but this year there's more from the institutional investors and IIRC there were speculations about it last year.

The demand and supply are the great factors that affect the price. Even we look at it in economics, prices are moving because of the demand and supply. The positive correlation of demand to the price makes bitcoin more aggressive. However, there is also a factor that affect the price in market, that is also the news. If there is a news that make bitcoin down or up, trend will follows.

Well, there are other reasons for the increasing price of bitcoin right now, Paypal that just accepted bitcoin and then there's MicroStrategy that is said to invest in bitcoin, $425 worth of bitcoins. This might continue for some time so, I guess what we are waiting now is for bitcoin to actually break another ATH which we might see again this year.

Just like the news coming from PayPal, I believe there are noncrypto users that suddenly got their interest in crypto especially those PayPal users. As they have millions of users onboard, some of them will be converted into crypto users at some point. So yeah, aside from the supply and demand, developmental news has also impact in the crypto market. Think also those big institutional investors that are openly claiming to accumulate bitcoin. This will also increase the confidence to some users that bitcoin has good future ahead.

Federal reserve are printing more money to spark stimulus in the economy, other thoughts US traders also the beneficiary of their currency being devaluated,
coz their products will be cheap (exports) while the import products will have a price increase. The result more companies will set up factories in the US.
And the rest will create job, more taxes, GDP growth, etc.

And with regards to bitcoin getting push up, its inevitable regardless of the circumstances imo.

I agree with the government's steps to save the economy by printing money. But the effect can make the devaluation of fiat currencies,
and make Bitcoin even more aggressive, then demand for Bitcoin also increases. Of course the effect is that the price of Bitcoin continues
to rise, and there is a possibility that Bitcoin could reach a new all time high next year. Plus investors trust has increased since Paypal
decided to accept cryptocurrency, the effect given by Paypal can actually be this big.

Yes I get your point OP that whenever new dollars currency created the value of the money will be depreciated but it also depend on the economy OP. If the economy of the US has grow too then there is no need for other that could be exchange to US dollars will do good. Remeber that Fiat and bitcoin are completely different beside it ia not only dollars that could be use to exchange bitcoin but also to other fiat currency. Bitcoin is not officially peg to US dollars so nothing to make any adjustments with bitcoin around.

All this money printing will bring much more people in our industry. The more dollars printed the less dollars value

Most of the countries are making dollar as the basis of their currency, so it is much clearer that bitcoin can possibly have changes in its value.

As inflation are increasing and getting worsen by this pandemic, bitcoin has a lot of potential to increase its price higher than today.

Bitcoin holders are rooting for this to happen, to have a positive movement in the price of bitcoin. Dollar is going down which is a turning point for bitcoin investors.

The high inflation on USA dollars does not necessarily push people to look into only bitcoin investments as they are having lots of other investment opportunities as well to get into. I can sort of agree with the you because the current bull rally of bitcoin is not triggered by just one or two factors but obviously it requires multiple catalyst hence one of them could be what you have mentioned.

Here are possible factors which might have triggered the current bull rally of bitcoins:
1. The 3rd halving of bitcoin network which happened few months back.
2. Paypal's crypto adoption.
3. On going pandemic and slow economics in almost all the countries.
4. USA presidential election.
5. Assumed 4 year long cycle of bitcoin markets.

bitcoin has go going to up is true that Bitcoin does not just trending on demand the dollar depreciates a devaluation will occur, which will bring down the printing press. bitcoin has going to up will have an impact on Bitcoin if the U.S. industry is disrupted and the dollar depreciates. the reason for the rise in Bitcoin is that with the increase in demand the demand has doubled due to the adoption of PayPal Crypto. Although not possible to transact bitcoin in many countries bitcoin is possible to transact easily through PayPal.

It is good that bitcoin is going up but I don't think it "HAS" to go up.

There is a difference there and the latter seems something that is manipulated or planned and not just something that is an effect of some companies or platforms being accepted. In my opinion, I guess it is not Bitcoin has to go up but Bitcoin will go up.

20 years ago you could actually make money holding your fiat on a savings account. Now you're losing money. Yes, losing, because even if they give you 1% a year, the inflation in most countries is higher than 2%, often above 5%. At the same time, if you held Bitcoin you were able to make 100% profit if you bought at 7-8k.
Have you noticed how the value of real estate, cars, human labor is holding or increasing? It's caused not by the scarcity of these things or higher demand but by inflation.

That could be the reason why there's more wealthy people before than on today because it was easier to grow a profit back on time and saving on banks were still Verry profitable but people now realised the difference and this can also be the reason why majority of them are now migrating into decentralized banks and currencies . 

investing on local banks do also have annual fees and that 1 percent that your going to earn are going to be lesser because of this  .

Yeah, yeah, yeah, more printing of the dollar is causing the Bitcoin to appreciate while the dollar is losing value against it. Although it can still go both ways with the supply and demand, the market can still turn tomorrow, and Bitcoin will start facing the same that the dollar is seeing now. That’s what with the supply and demand thing.

Anyway, it’s good now that it is happening and Bitcoin is increasing, now is a good time to be planning yourself and what to do as the price climbs and wait for the next line of action to take. It’s always good if you have been holding for long, you can sell when the price is up and wait for another better time to buy in.

When you are trying to revive a nations whole economy sometimes you have to take things into your hands and print money, just because governments printed money doesn't mean that they have done something wrong, it also doesn't mean that they did something right, it just means that they did something they had to do and that's it, that was the whole reason why did it because they had to and had no other choice.

I understand that bitcoin is much better compared to fiat currency but even in a world where everyone moves to bitcoin and crypto, if there is a big crash and everyone gets poor and they need money just like this pandemic period, if we couldn't print bitcoin (which we can't) that would mean a lot of people would be out of money and poor, what would have been the solution for that in a fully crypto world?

Let them starve? Give them free money from treasury? We needed this printing even if we didn't like it.

Money have play an important role on the economy and perform several function due to these government regulates and control the money supply that are circulating on such country. Government will not print money unless its really are needed but as of the current situations of most countries due to pandemic  fiat money have been decreased its demand and this is a problem for the government. In order for the an economy to progress even on these situation the government will open a path on digital currencies and soon crypto currencies.

Bitcoin is a decentralized currency, it can increase at anytime and also decrease anytime without the help of the government. With my observation, I always notice,anytime supply is reducing in the market many people will be busy to release their coins to market.
I think bitcoin go up when the demand is much than supply in the market.

Well, Fiat currencies in their digital form are already quite developed in the world's leading economic powers. As for printing money, I would like to say that the representatives of the state will name thousands of reasons why such a large amount of money was printed, despite the deplorable consequences that came from this ;) Although of course, because of the pandemic, States print more money than in normal times.

I do not considered as the main driver why the price goes up. For me what happen is hype and market sentiment, the chart of the bitcoin in the past weeks are becoming good then a certain company announce that they will accept bitcoin and it was paypal. It was the main catalyst why the price goes up and reaching $15,000 +. That news is only proving that the USD is weakening, the government keeps printing so much money and the supply is keep getting up that can cause inflation.

Many people and big companies consider that the acceptance of bitcoin in Paypal's network is positive that makes them make big purchases and pumps bitcoin's market; that is why we are currently experiencing a bull run, and bitcoin is staying in a $15,000+ price. The government is printing so much money to provide for their citizen's needs in the middle of the pandemic; that is why we are experiencing a significant inflation rate in the market.

It is only a short term FOMO. Real investors and bitcoin enthusiasts understand that the acceptance of Bitcoin in the PayPal network does not mean anything. They hold our bitcoin and do not let us send or receive any bitcoin that are outside of the network. Soon, there will be a correction in the price of bitcoin

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Right now, when I observe the charts, there is a big resistance above $15600 point which denies bitcoin to go higher. But from my perspective, numerous bitcoin is being held in private or third-party wallets, which means that there are a lot of people anticipate that bitcoin will go higher in the near future. We are surely in a bull run, but do not let those FOMOs mislead our perspective. Understanding people behavior is the main element that makes us win in investing any kind of asset

The fact that big players are coming to this market tells me not only that they think bitcoin is finally ready for them to take a position here which means the volume has grown significantly during the last years, it also show that those institutional investors are willing to be in this market for the long term and that is very telling.

If we heard of a few sporadic cases then we may think they are just trying to increase their profits, but it seems this is a diversification strategy and also a strategy to use bitcoin as a store of value if things go horribly wrong, which it seems to legitimize our claims over the years that bitcoin is a store of value.

Looks like this production of currency in 2020 was ordered in 2019 and is actually a reduction of the pace of currency creation by the US. These articles are damning in headline, but when you consider the full spectrum of context they are certainly less alarming. And frankly, the production of bills needs to be associated with how many bills were intentionally removed from circulation.

https://www.coinnews.net/2019/09/27/federal-reserve-orders-5-2-billion-banknotes-for-2020/ (https://www.coinnews.net/2019/09/27/federal-reserve-orders-5-2-billion-banknotes-for-2020/)

Okay then let’s be looking forward to the price of bitcoin topping up this year and see where we will be landing by the end of this year 2020. Although I wasn’t looking at all these things to decide for myself that there will be a huge growth, before now I already knew it’s going to be this year or next, and here we are, this year is getting better for BTC.

Well, maybe that is part of what has led to the price going up, but don’t make it seem like it’s the only thing that has led to where we are today, because the price has been growing well before PayPal said anything about accepting Bitcoin , Litecoin, and the rest of them. Which I know that if there wasn’t such announcement, the price will still be kicking by now.

Bitcoin will move to the upside when it's matured and ready to move to the other side irrespective of any internal or external force. If the demand exceed supply, price will go up and that's what has been happening recently with Bitcoin and some altcoins.
There is huge demand that many are selling altcoins out and flowing into bitcoin, ( huge demand ) that's why majority of altcoins has not been making good moves.
The spotlight is Bitcoin for now and it will continue to do so until it looses strength before market cycle will complete.

Hey mate, the price of any crypto totally depends on demand and supply, if they are less sellers in the market the price of any crypto will go up, and if they less buyers in the market the price will definitely go down, that's how demand and supply works.
They just keep printing more papers and devaluing their own currency :D, this will definitely cause fomo, the  price of btc at $15000+ looks so strong, people just keep buying more, and nobody is dumping, who knows it might just hit the ATH before the end of the year.
They just keep printing more money like its  a normal year when nothing as bad as this happens, this will definitely devalue their currency, too bad trump was beaten by Biden, but who knows Biden might just continue from where trump stopped  :D.

Fiat are just not deflationary currerencies, they are the opposite. Over a long time, the price of fiat do depreciate, and beyond normal in underdeveloped and developing countries. African countries can be used as examples where fiat do over-depreciate. But, bitcoin is definitely not the same, it is truly deflationary in nature over long term period. Bitcoin can have price fluctuations which many people do use to think bitcoin is risky, although, it is risky but over a long time period,the price of bitcoin will only definitely have a net gain.

countries very where in the world are just printing their money not just for purpose of providing stimulus package to  run the economy. they are also just printing to lessen their debts and the more they  devalue their money the lesser their debts are going to be.  to prevent this from happening  the other countries will do the same.

the ground where they can't devalue any currency is BTC, they might as well just buy BTC and treat BTC as reserve instead.

History is littered with people looking at a complex situation in only two dimensions and thinking they cracked the code and identified a “sure bet.” It doesn’t always blow up in their face, but it sure is satisfying when it does. 

I haven't realised that so much dollars have been printed this year. 20% of the amount in circulation is insanely high.

Anyway even with a big inflation Bitcoin is still marching a lot of yards. It is obvious that institutions and companies now look at Bitcoin as at an 2-in-1 asset. It does not only act as a hedge against the inflation, but also appreciates in value due to its scarcity and early stage in adoption.

We have seen bitcoin outbreak and trading a new all time, yet we keep tarnishing traditional assets because of their underlying failure and incompetent with the economical situations that's coupled with inflation, this has driven some set of people to create something valuable as digital instruments or digital assets as some people may have called it but have we ask the question about crypto volatility, will majority of investors stay glue to Bitcoin if it's having a yearly return of %10?
Most of not all in bitcoin don't really care about adoption we have today but their money and how it's can be double, triple within short period of time and cash out to fiat to continue enjoy their life in the outside world.  :'( :'(

The funny thing is that the outside world is quite successfully embedding bitcoin in its structure and bitcoin is gradually becoming one of these traditional assets, losing its revolutionary essence as a counterweight to traditional Fiat monetary relations and becoming one of the hedging tools for risks in the global economy like gold ;) I think that in the next few years, the annual yield of 10 percent of bitcoin is not threatened, so to talk about such topics is unpromising due to the unrealistic nature of this scenario.

The economy is said to be really complex but it is not, it is in fact simple, if the money supply increases then sooner or later the costs of products and services will go up as well in the same proportion and in some cases in an even larger proportion than inflation, not only the price of bitcoin is going up everything is going up in price as well as governments keep printing money, what happens is that governments can manipulate the markets thanks to their money printing tactics and they can somewhat disguise this effect but it was clear as day that the price of bitcoin will go up as governments kept printing money.

Trump is really a good President for US when you only aim about the progress of cryptocurrency in your country.

He is really a good leader when it comes to pushing the economy to rise and recover again.

Printing money is really his one of the ways on how he will sustain and overcome economic crisis in the market. Cryptocurrency is one of his priority compared to Biden that he don't really care about bitcoin.

On contrary to what you've stated, I think one of the reasons why bitcoin's price increases is because of its supply and demand. The limited supply for bitcoin will keep its value going up as many investors are now eyeing on it. Once the supply runs out, given that there are just limited number of bitcoins existing, the value of bitcoin will surely increase. Investors are putting their money on cryptocurrencies which are promising particularly bitcoin during this pandemic since the Federal Reserve placed the interest rates near zero and is expected to keep it that way few more years which results to weakening the fiat currency - dollar.

Weakening of dollar is one of another reason why bitcoin has been booming up. Bitcoin has been usually compared to dollar currency, and depreciation of the latter results to bitcoin hitting a high record value since the last time its price soared high. It won't change ths fact that bitcoin is volatile, therefore risky if you invest on it without proper knowlegde. It's price may pump for now, but it doesn't guarantee that it won't crash soon enough.

Yes, those that are setting the price of Bitcoin have to rely on some factors to determine what’s the right price for the asset. Since it’s being compared to the US dollar, it’s definitely going to be one of the things that goes into consideration when they are about determining the price, and just as you have said, as one depreciates, the other will appreciate.

Then another thing they will consider is the supply and demand, before now we have been expecting that the supply will be reduced because of the Halving, and that halving has taken place and the rate of supply has been shortened. And we have also seen more interest in Bitcoin coming from big investors, the demand have increased due to more interest, while the supply has gone down. So for sure it’s definitely going up.

I fully agree with you. On my opinion the biggest drivers of the bitcoin price is supply and demand. We a know that supply for bitcoins is fixed. There is a hard cap in place and we only mine fixed number of coins ok the future. Also due halving the long term price is upwards because the mining costs are more or less fixed due to electricity prices. It won't really get cheaper on the future. On the other side demand is expected to rise.

Are you also saying the more usdt printed, the more lower of coins we will likely see in the future. Usdt is minting thousands and millions without been by back by anything, fail audition and none has be done again for transparency. The day regulations body will want to to do something about this movement, the market wouldn't be funny including stable coin.

You are right, the dollar hit the lowest level since 2018 to a basket of other fiats and I guess the down rally will continue with the new 2trn bill signed a couple of days ago.

Printing machines are working on 1000% and the dollar will lose even more value in the next couple of months or more.

Also, increased price of bitcoin has attracted more customer base which means it will automatically receive more money flow inwards. This over the time gonna make bitcoin look like giant àsset which would be non-compete kind. What I mean is, there won't be any asset like gold, diamonds, or even old antic art which is priceless. Bitcoin itself will have so much power to attract more and more pips each year that it will cost more and more day by day. That's what we want anyways. :-)

Bitcoin has to go up for many other reasons too like, its the need of new era where we want an asset which can hold huge value in its "bits" unit and be able to transact swiftly.  :D

The interesting part about all of this, USA says there is not a big inflation right now in the nation. You look at the costs of things and prices of regular foods for example, it doesn't look like there is much inflation, maybe it will take into affect later on?

Well my idea is that, if you print countless amount of money, and give that to companies who will just show profits bigger and bigger which means shareholders will use their own money (not government given) to buy more of it to increase the price, there isn't really anything that should increase the store good prices there is it? I mean you can tie it together somehow, but money wasn't given to regular people, and the amount of money given to citizens were funny small, so it wasn't really that much change on inflation, all because it was given to corporations. That is at least my guess.

The only bad thing about that is that as we know those people are only going to come to this market in order to obtain profits and while there is nothing wrong with that as soon as the price of bitcoin shows any weakness they are going to get out of the market as fast as they came which means the price could go down even faster than it has gone up, and unfortunately the bigger the price the bigger the drop and the longer it will take bitcoin to recover the trust of people once again.

All state currencies have some annual inflation and it is included in their budgets every year. That is, the common currency of states is systematically and inevitably depreciating. This is used by governments to manipulate all kinds of social benefits so that the numbers remain the same or even increase, but in fact their volume has decreased. Therefore, not only bitcoin, but all promising decentralized cryptocurrencies should rise in value due to this process. This should come up strongly during the global economic crisis.

We don't know that. It is true that the price rose to another ATH this year but we can't just identify the whole year's movement with what we are seeing right now. A year is a long time for Bitcoin as we all know it for its volatility, it can dump and pump for a short period of time. I am not against bitcoin, it is just that we never know what will happen.