Bitcoin and USD Collapse: What Happens If the Leading Fiat Currency Falls?
After a recent loss, it looks like the cryptocurrency industry is back to earning profit again as prices raise higher and higher. Bitcoin and other tokens are working to find a good place to settle in with their prices but are also expanding for use in other markets as well. Back in 2017, Bitcoin was just a high-risk asset, but its value has managed to reach heights of over $20,000 during the last two years.
Both the stock market and cryptocurrency experienced a sharp correction when the year started, but the US dollar seems to be pushing ahead right now. The correlation between Bitcoin and the Dollar seems to be almost like an exchange in itself – one rises, and the other falls. However, the momentum is matched each time. It seems that the public just follows the trends, putting the most faith in whichever of these assets seems to be dominant at the time.
The question remains – if the Dollar can’t keep up with this financial tango, will Bitcoin rise to meet the new demands of the industry? The only way to find out is to wait and see.