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Author Topic: Excessive stimulus and devaluation of dollar gave bitcoin and gold their appeal  (Read 195 times)
yhiaali3
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June 30, 2021, 06:20:23 AM
Merited by CryptopreneurBrainboss (1)
 #21

I have a comment on his saying:“The printing of money by the government, excessive stimulus, and the depreciation of the US dollar gave bitcoin and gold their attraction.”
These things exposed the flaws of the old financial system and at the same time showed the advantages of bitcoin and gold, but they are not the reason for giving bitcoin and gold their attraction, because gold It has been around since ancient times and has a very strong attraction as a currency of value and a store of value and in the modern era Bitcoin has emerged as the digital gold.
The main reason for the attractiveness of gold and bitcoin are the great advantages that they have in both: high value, limited quantity and a store of value where they can be stored for long periods while preserving their value and protecting your financial assets.

Bitcoin mining is now a specialized and very risky industry, just like gold mining. Amateur miners are unlikely to make much money, and may even lose money. Bitcoin is much more than just mining, though!
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June 30, 2021, 03:34:59 PM
 #22

I think I also follow this view because of the halving that is going to come around 2024 and more institutional investors plus countries that are beginning to consider the adoption of bitcoin.
Yeah, but we are not done with 2021 yet hence planning for 2024 (halving) and 2025 bull run are too far for me to think about as of now. I mean like many people do speculate here, I am also confident about seeing another new ATH in 2021 which may be higher than 200k levels as well. So, buying more at current dips must be a best thing a bitcoiner may do right away.

US dollar is continuously getting devalued for whatever reasons and stimulus packages are not exceptions hence bitcoin and all other alternatives might find their boom respectively and among them bitcoin might remain as an exceptional performer due to its known definite supply.

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