According to Vero Data founder Will Clemente, Bitcoin will remain a successful asset for the long-term, as the U.S. struggles with dollar debasement and inflation.
The king coin’s data suggested that it was on a healthy long-term growth trajectory.performance and that of the crypto market at large is correlated with the S&P500. As such, rising economic concerns have had a negative impact on BTC’s performance.Based on the above, many people feel that Bitcoin might be losing its plot for which it was created. A hedge against inflation.
However, Vero Data founder Will Clemente still believes that Bitcoin could still emerge as one of the best assets to hold long-term, especially as the U.S. economy looks to be diving deeper into debt. Clemente noted in a recent statement that the only way for the U.S. to avoid a financial crisis is to have higher economic growth than debt. However, debt creation in the U.S. has been growing at a faster rate than economic growth. According to the analysis, debt and debasement might be the reason it makes sense to hold Bitcoin.
Despite being down nearly 70% from its 2021 highs, there is still a high likelihood that Bitcoin succeeds. With the market going sideways, Bitcoin volatility near all time lows, and me losing my mind, decided to compile a few thoughts on why:
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Stablecoins sag in the dog days of summerBitcoin isn’t the only asset experiencing a slump
Read more »
1,000-Year-Old Alien Fossils Found To Have “No Relation To Human Beings”, According To ExpertsAccording to Dr. Zalce Benitez, the pair of extraterrestrial-like bodies displayed at the Mexican Congress had no relation to human beings. Mexican scientists were quick to agree.
Read more »
Exclusive-Coal from Russian-annexed Ukraine sold in NATO member TurkeyAt least $14.3 million worth of coal produced in areas of Ukraine annexed by Russia has been exported to NATO member Turkey this year, according to Russian customs data reviewed by Reuters. Between February and July 2023, about 160,400 tonnes of coal from the annexed eastern Ukrainian regions of Donetsk and Luhansk arrived in Turkey, the data showed. Three producers listed in the customs data confirmed to Reuters they had shipped coal from the two regions to Turkey during that period.
Read more »
The Best Hands-Free Sex Toys According To Reviewers Who Have Tried ThemExplore the world of wearable, thrusting, and grind-ready gadgets that will have you saying 'look ma, no hands!'
Read more »
These are the foods costing you more, or less, according Canada's latest inflation updateThe Consumer Price Index report from Statistics Canada shows a number of food items decreasing in price from July to August 2023, but year-over-year inflation rates remain high. Here's what's costing you more.
Read more »
Illegal tobacco growth costing three provinces $2.47 billion in taxes, according to retail reportThe Convenience Industry Council of Canada estimates illegal cigarette sales could comprise up to 67 per cent of Ontario’s total tobacco market, 45 per cent in B.C. and 44 per cent in Newfoundland
Read more »