I want to slow down for a minute and address the market pullback that is taking place. Many are concerned about their crypto holdings, and people are using various means to try to reassure themselves, such as: technical analysis, looking toward crypto experts, analyzing past cycles, and more.
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Inflation’s Impact On Fiat Currency
But let’s take it back to the basics! Let’s talk about inflation. And this article will NOT be the same old song and dance you’ve already heard about inflation. Let me explain.
See, fiat currencies were originally invented to make life better for people. And, in many ways, they’ve done just that. Prior to fiat, barter was a very inefficient form of trade. It worked, but there was room for improvement.
But if we look throughout history, there’s not a single nation that succeeded in holding their currency’s value over the long term. I’m not here to complain or talk about bad intentions, even the best leaders and governments can’t help but eventually succumb to inflation. In fact, top economists even TEACH that inflation is a “good” thing, so long as it doesn’t get too extreme.
Because Bitcoin is traded all around the world, and not in just one country, it can protect people from “fiat risk” in their own individual country. You can think of it as the “great equalizer,” balancing out disparities between nations.
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Bitcoin Is The Future
So, I can’t tell you what will happen in this current market cycle. Will Bitcoin peak early and fall back down in 2024, or will this be a “normal” cycle where Bitcoin peaks later in 2025? No one knows. But, what I do know, is that Bitcoin can help us in the long run to live better lives, provide for our families, and take control of our circumstances. My investment horizon is not this weekend or next month, maybe not even next year, but rather, sometime down the road as fiat currencies continue to do what they do best: inflate.
I’m continually impressed with how vibrant, robust, energized, and friendly the crypto community is. I continue to be surprised at how deep my connections are with fellow crypto enthusiasts. Even my wife notices this, and she’s not really in crypto.
But the more I think about it, the easier it is to see why this is the case. Crypto – and Bitcoin – allows humans to return to their natural state, where they are taking responsibility and building something valuable, together. At its core, especially as we include the miners in the discussion, Bitcoin really is a community-driven effort. It is literally for the people, by the people and of the people.
And that is something we can all be excited about.
*Any tips, predictions, or strategies published are entirely the opinion of the author, and are not guaranteed to be correct or result in financial gain. The Author is not an employee of Bovada.
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