One can observe which of these scenarios the world is moving toward by keeping track of two prices: the exchange rate of Bitcoin against the dollar (pictured above), and the dollar inflation rate, which measures the exchange rate of the dollar against a basket of goods and services. If Bitcoin’s price plunges and approaches zero, it’s a clear sign the third scenario is underway. If the dollar crashes against both Bitcoin and real goods and services — that is, if Bitcoin and inflation both go to the moon — it indicates that Bitcoin Triumph is happening. And if Bitcoin rises against the dollar but inflation stays low, it means the middle scenario, Bitcoin as Gold, is in effect.
Long-Dormant Bitcoin Whales Resuming Activity Could Rock Price Action, Analysts Say
The number of active Bitcoin wallets, many of which have long been dormant, has seen an uptick that could herald some major market movements, analysts claim.
Expert predicts cryptocurrency boom 'within a year' as Bitcoin marks its 10th anniversary
Investors are remaining positive about Bitcoin as it marks its 10-year anniversary, despite a worrying drop in value in recent months. The cryptocurrency has come a long way since the bitcoin blockchain was created on January 3, 2009. At one point, it was considered so worthless that, in May 2010, Florida-based programmer Laszlo Hanyecz bought two pizzas for 10,000 Bitcoin, valued at the time at $30.
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