Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency Trading => Cryptocurrency Price Speculations => Topic started by: pawel7777 on March 01, 2024, 10:23:29 AM
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Yup, it's true.
While everyone is focussing on the USD price, it almost went unnoticed that Bitcoin broke ATH in many other currencies, in fact, in the majority of the world (population-wise)
https://www.coindesk.com/markets/2024/02/29/bitcoin-is-hitting-all-time-highs-around-the-world/
Original tweet cited by Coindesk:
https://twitter.com/balajis/status/1762802897518215405
The list of countries in which the previous ATH has been passed, together with their population and GDP:
Source: https://twitter.com/balajis/status/1762804914378654078
(https://i.ibb.co/C1MKq6F/Capture.png)
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While everyone is focussing on the USD price,
Because it's the $ that matters, as much as everyone hates it again it's proof why it's always good to have a bunch of good old greens no matter where you are, the desert, north pole of jungles of south asia, everyone knows what a $ is worth.
As for some of currencies, apart for some that have either been devalued intentionally or have been caught at the wrong moment at the last ATH even the people of those same countries have abandoned them
(https://www.talkimg.com/images/2024/03/01/fx1Kw.png)
That 1000x return in 5 years looks tempting but... ::)
Funny how you can barely see the previous ATH on that graph.
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Yeap, it did it here as well. We should be glad that it is peaked at where I live, but it is of course a bit more monumental situation to break it at Dollar value because we always talk about it that way. We do not talk about individual fiat currencies when we are discussing, dollar is the de facto most talked about fiat currency in the crypto currency and that is why we do celebrate it and calculate it based on that one. I do believe that it will be quite good, we are going to have something to be happy about. If not, worst case we could at least be happy for our own fiat, and then dollar together, two reasons to be happy about.
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If not, worst case we could at least be happy for our own fiat, and then dollar together, two reasons to be happy about.
But before that one should check if that ATH is indeed an ATH when counting purchasing power.
Let's take the easiest approach, so 2l of cola (or other juice)
https://fred.stlouisfed.org/series/APU0000FN1101
Let's take the ATH at $69,045.00 (max on any exchange) and that means 40,377 bottles.
Nowadays the price per bottle is 2.21 so if you wnat to buy the same with one BTC you would need the price to be 89,233 not 69k.
So even if your currencye depceciated agaisnt the dolalr, hitting the ATH is dollars might still not be enough!