an bitcoin failed to hold above the $ 20,000 mark. Some experts in the field have warned of a further fall in assets, especially after the euro’s parity with the dollar: the first in 20 years.
Bitcoin in the last few days
Bitcoin was able to hold over $ 20,000 until the end of last week at a more accurate value of $ 20,850. However, resistance began to fall at $ 20,300 suggesting that the asset may still fall again below the $ 20,000 mark.
This is what happened on the night of July 11 to 12 when Bitcoin entered $ 19,000 again for the fourth time in a few weeks. Currently, the exchange price is BTC $ 19,508 while writing these lines.
Outside of a relatively fragile market where mistrust prevails, this effect is reinforced by a new factor. it’s about the parity of the euro with the dollar. In fact it is now worth almost a dollar (to within a few cents). This is an event that has not happened for 20 years.
As a bonus, today, July 13, the US Consumer Price Index (CPI) will be released. Yes risk of further deterioration most of the assets if June inflation exceeds estimates.
Also, do not underestimate the influence of minors, as Blockware analyst Joe Burnett pointed out. In fact, the latter already has firm margins, if costs continue to climb and the value of Bitcoin declines, this will have more consequences.
One more drop to bounce back better?
For the former CEO of the BitMEX platform, Arthur Hayes, it seems certain that they will lose these more traditional currencies because of the parity between the dollar and the euro. Therefore, central banks should adopt yield curve control (YCC) which would lead to the dissolution of the currency.
Eventually, if such a possibility arose, then there would be a chance that Bitcoin could rise to the top as the world currency to rely on. That would greatly increase the value of this asset, far more than all the records we have seen so far.
This prediction is not from today, but already last April it was hypothesis highlighted by some models. Of course, it will be necessary to be patient as to whether such a reality will happen in the coming years or whether, like other more pessimistic experts, Bitcoin may disappear, because it is an asset that is not based on anything.