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October 2, 2022
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Bitcoin

The dollar reprint and Brexit support the BTC rate and the adoption of the cryptocurrency –

Bitcoin fell back into a sideways trend. Although some analysts suggest that this will end with a deep correction, in the sphere of macroeconomics and politics we see many factors that could fuel the boom in the cryptocurrency market as early as 2021.

Reprint a BTC

Bitcoin (BTC) starts another week with just over $ 19,200 on the counter. Seemingly, the market is boring. It’s just not like that. Let’s take a look at what is happening at the political and macroeconomic levels that will quickly make us feel a strong rush of adrenaline.

The US has a presidential election behind it. It is true that Donald Trump presented a theatrical performance in front of his “viewers” in which he fought for re-election despite an obvious defeat, but he finally gives in. The seizure of power in the White House is unlikely to occur without much controversy.

The inauguration of the presidency of Joe Biden is getting closer. The latter has already said that it plans to prepare a USD 7 trillion stimulus package to help America cope with the effects of the coronavirus pandemic. It sounds beautiful and noble, but it represents a huge additional debt for the United States.

Someone may say that it is the USA, so they can afford it. Only that further printing and increasing debt will cause investors to stop believing in the dollar as much as they believed a year ago. The weakening dollar will make those who saved in this currency look for a different kind of safe haven. Gold, silver? Or maybe Bitcoin? The more so because Square, Microstrategy and Wall Street legends are already investing in cryptocurrency, which say in plain text: today BTC is another tool to store value during the crisis.

Experts are already openly talking about the problem and the scale of the debt.

In 2008, we had a terrible time because of too much debt, and since 2008, debt around the world has increased rapidly. We can’t even count how much it has grown Said Jim Rogers, co-founder of Quantum Fund, quoted last week by Reuters.

He added that if “Janet Yellen will be the next secretary of the treasury, [warto dodać, że] she loves to print and spend money “.

Now, US senators have even begun to suggest that a new stimulus package to fight the coronavirus could appear this week. The bill would cost the budget nearly $ 1 trillion and ensure “targeted help “Senator Mark Warner of Virginia told CNN.

I think we already have the most important figures ready. We are currently working on the formula [ustawy]so that we can have a legal act – he said.

What does this mean in practice? And what it is “Targeted assistance”? The new stimulus act does not bring about major changes compared to its previous versions, despite the promises made earlier by Trump’s Treasury Secretary Steven Mnuchin. It is said that only the model of sending stimulus checks in the amount of USD 1,200 for eligible Americans is to be excluded from the “shield”. However, this does not change much …

Great Britain and Brexit

The EU is also finalizing talks with the UK regarding Brexit. After many delays, missed deadlines and recent efforts to resolve any disputes, both sides now agree that time is up and that it is only a matter of days to sign a contract.

The effect of controversy in this area was the decline in the value of the pound. Yes, 2020 is terrible for fiat currencies.

Interestingly, the topic appears even in political debates in the UK Bitcoin. As Cointelegraph reported a few days ago, Nigel Farage, former head of Britain’s Brexit Independence Party, described the cryptocurrency as a tool that could help break any Brexit blockades. However, he added that this is not all and also referred to the severe restriction of personal freedom in London in connection with the coronavirus epidemic.

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