Recently I wrote about the fact that Bitcoin (BTC), the first cryptocurrency, has a chance to break the historical price maximums, i.e. ATH. Today it turns out that it is 100% realistic that they will be broken soon. It seemed that Bitcoin’s rate would have to adjust on its way to the tops. However, this correction has not yet taken place. It is possible that it is related to a long, almost 3-year consolidation of the rate. However, in my opinion, the reasons are slightly different. Currently, an unprecedented in history creation of classic money is taking place all over the world. It results from the willingness to “help” people, economies or companies and public institutions. In practice, it will lead us to tremendous inflation. At this point, it is not that visible yet. It will be visible when people start spending this money, which is at the end of the “coronavirus crisis”. Probably around the middle of next year. Let’s go back to the merits and the current price of Bitcoin and other cryptocurrencies. The graph at this point looks like this.
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