Correlation Between USD & BTC

in LeoFinance3 months ago (edited)

As the 2020 Presidential Election approaches here in the USA, speculations on the dollar have begun to emerge. Whether it's due to the COVID-19 crisis or not, U.S. dollars are approaching a two year low despite any efforts of salvation and government intervention. Experts suggest that as an uncertainty grows for the economy, the valuation and trust of bitcoin will also grow. Based on the number of large, well-known institutions who are investing financial surplus's into bitcoin rather than stocks, it is only a matter of time before traditional assets are no longer desired.

Despite any efforts of downplaying cryptocurrencies, it is impossible to hide the prevalent data that backs blockchain technology. For example, based on a recent market analysis, the number of bitcoin addresses containing over $11 million has hit an all time high. This essentially means that the number of "whales" is continually rising and in the grand scheme of things, will push bitcoin to astronomical heights.

I hope that my unbreakable faith in bitcoin has not become repetitive as I have posted about it several times. In my defense, it is simply the fact that we are in a revolutionized "gold" rush, and by gold I mean bitcoin!

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