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Disclaimer: The blog posts and comments on this blog and posts on social networks are not investment recommendation, are provided solely for informational purposes, and do not constitute an offer or solicitation to buy or sell any securities. The opinions expressed on the blog are Petar Posledovich's. Petar Posledovich does not guarantee the accuracy of the information presented on this blog and social networks. The information presented is "as is". The blog is stocks analysis and valuation, Bitcoin, Cryptocurrencies, Artificial Intelligence, AI, deep-learning focused. Independent, unbiased AI insights. Petar Vladimirov Posledovich is not liable for any investment losses incurred by reading and interpreting blog posts on this blog and posts on social networks. Conflicts of interest: I may possess some of the securities, currencies or their derivatives mentioned in the blog post and posts on social networks! The blog is property of Wolfteam Ltd. www.wolfteamedge.com Respectfully yours, Petar Posledovich

Saturday, February 25, 2023

Bitcoin Price Relationship With the USD


 

Bitcoin is sometimes described as USD 2.0

A global reserve currency.

Bitcoin is still far away from global reserve currency status.

That said, however, the inherent freedom and distributed 'command' and 'control' centres of Bitcoin, much like the internet itself are slowly paving the way for a progressively larger role of Bitcoin in global finance.



For now the EUR/USD exchange rate is usually inversely related to Bitcoin price. In the last 1-2 years and since the beginning of 2023 especially, this inverse relationship broke down and Bitcoin's price has risen while the USD has appreciated towards the EUR since the beginning of 2023.

It will be interesting to watch, whether the current tumultuous times speed up Bitcoin's adoption.

Globally.




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