Bitcoin is scaling unimaginable new heights as the recent market capitalization news indicates that the crypto king will cross the $100 trillion mark based on the background research carried for the US dollar as well as the cryptocurrency.
The Inflating Trend of Dollars
April Fools Day just passed around the corner of the calendar and although it was full of pranks like every year, the one thing that did not seem as a joke was the breakout news that declared that the US dollar’s buying price will carry on with the daily blows and drastic number falls.
From the time the Federal Reserve was instated, the US dollar has incurred 96 percent loss in its price value - The reserve currency in the coming century saw an average inflation rate of only 3.14% annually. The other fiat currencies in the developing countries had it much bad than the reserve currency.
It has been observed that the Algerian Dinar shot down 80% against the US dollar, a horrible feat that was achieved in a period of only 5 years.
Striking a Balance with the US Dollar
The inception of Bitcoin started slow. Cryptocurrency Exchange Platforms were hungry. All that everyone associated with crypto market wanted was Bitcoin to reach $1 as per USD standards.
Post this, all Bitcoin needed was 2 years to reach parity - A time when Bitcoin pizza was more popular than the rest. In 2009, Bitcoin was being traded for almost 30$ each. Everyone cited this as a quick, palpable buck for the most part.
The coming years were luckier than the rest as the prices shot up to almost three to four figures. Everyone rejoiced at this development and soon Bitcoin had become the most popular cryptocurrency on the planet. The next years saw the craze of Bitcoin shoot up to unprecedented heights as every crypto enthusiast became aware that there would only be 21 million BTC.
In spite of such rave reviews and decentralized technology, the Bitcoin price crashed and the bubble around cryptocurrencies dived down the drain.
The world did not understand how to deal with a cryptocurrency as powerful as this and maybe that's why it faced such heavy blows. The 'Money 2.0' is in reality valued at 84,000% against USD all in all in a period of seven years.
Bitcoin is Unfazed
Countries undergoing major money crisis scenes will employ Bitcoin as a last resort but the developed countries will get on the bandwagon and understand that Bitcoin is still very much in the picture.
In spite of taking multiple hits, Bitcoin always comes back stronger than ever. Here's an example:
2012 – $4
2013 – $65
2014 – $200
2015 – $185
2016 – $365
2017 – $780
2018 – $3200
2019 – ?
Bitcoin has time and time again proved its undying mettle and although today interest rates are not all that impressive, you can believe that crypto will bounce back stronger than ever.
Today, there are more banks backing up cryptocurrencies than ever before - The Federal Reserve and a few other central banks are relentless in showing their allegiance with Bitcoin.
The US dollar has already dropped 10% against the value of Bitcoin which goes to show that Bitcoin is here to stay and how.
The $100 trillion market is just a few Cryptocurrency Exchanges away!