Record depreciation of the euro, the pound to the U.S. dollar sparked new interest in bitcoin

With the collapse of gold, stocks, bonds and currencies in the EU and the U.S., investors are looking for investment options.
The world economy is entering a recession whose signs are becoming clearer. The collapse of the euro and the pound to the U.S. dollar, and before that the yen to the U.S. currency, has left investors with the fact that the key reserve currencies are depreciating at a record pace. Considering that the global currency architecture is based not only on the U.S. dollar, but also on these currencies, the situation looks complicated.
Plus, the price of gold has fallen by 8.9% since the beginning of the year, meaning this precious metal is cheapening in U.S. dollars while inflation for the U.S. currency was 10.1% in annual terms.
The bond market in the U.S. and the EU is showing the worst dynamics in its history, losing about 16% since the beginning of the year. Equities are also losing value: the S&P 500 has fallen 23.6% YTD, and the DAX, the stock indicator of Europe’s largest economy by GDP – Germany – has plummeted 24.6%.
In this regard, a number of publications including The New York Times, Fortune, Proactive and others have posted articles in the past seven days discussing potential bitcoin, which has managed to rise 1.8% in the past week amid declines in all key Wall Street indices, Europe, gold markets, reserve currencies and bonds.
Analysts point out that the British pound has renewed its historic low against the U.S. dollar, while bitcoin has not. The fact is that from the 1970s to the current moment, the average pound issue rate is 11.2% annually. At the same time, bitcoin supply is only growing by 1.7% annually. This leads to the conclusion that bitcoin has a strong potential to strengthen against the U.S. dollar.
Once again, entrepreneur Robert Kiyosaki made his assessment of the current situation. He sees as one of the scenarios that the U.S. dollar will also weaken, like the pound, but this time this weakening will be reflected in the growth of bitcoin prices. He makes the bold prediction that global confidence in the U.S. dollar will fall on hard times early next year.

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