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Cryptocurrency Is Getting Stronger... The USD Not So Much
While The US $Dollar Is Getting Weaker Cryptocurrency Is Becoming Stronger
It’s been a while, hasn’t it? Yeah, it’s been weeks since I last posted and I’m feeling slightly guilty for it. Don’t misunderstand though. I didn’t quit Read.Cash. No, that wouldn’t happen.
The reason I wasn’t able to post anything for two weeks was that I have been very busy with schooling and real life. I won’t go into details because I wanted to keep my private life… well, private.
Anyways, I got a question for you. Do you think that the US Dollar is getting weaker while cryptocurrency is getting stronger?
I think that the US Dollar has been weakening for some time now. If you’re up to date with the latest news you’ll know what I mean.
For example, Americans losing fate in the US government; oil prices are through the roof, empty supermarket shelves, and the latest – the US government printing $1 trillion platinum coins that had sent a lot of people panicking. All of these, in my opinion, were just some of the reasons why the US Dollar is depreciating.
Cryptocurrency on the other hand is the complete opposite. Instead of weakening, the cryptocurrency market seemed to be entering another bull cycle.
Yes, I’m aware that this is a common thing during this time of the year. At the start of October, one could expect to see the market recovering from bear cycle or a market crash. But the thing is the recovery level of the cryptocurrency market is just unbelievable.
Bitcoin for example recovered from a terrible crash which almost half its value several months ago. But now Bitcoin seemed to be gearing for another all-time high (ATH). If we’re lucky, we might see Bitcoin at $70,000 or higher before the end of the year.
The same thing could be said for Bitcoin Cash. After dropping to $400 several months ago, it now climbed to $600. It’s not as impressive as Bitcoin but it’s not bad.
How did the US Dollar fare compare to Bitcoin and other cryptocurrencies? Good, bad, or terrible?
In my opinion, in comparison to cryptocurrency; the US Dollar seemed to have fared rather badly.
For example, instead of becoming more stable; the US Dollar seemed to have become more unstable. And this is not good for the US economy and the economies of many countries since the US Dollar is the reserve currency of the world. So if the value of the US Dollar plummets; the dollars being held by other countries would also be affected which would in turn negatively impact their currencies and economies
And yeah, seeing what’s happening in the US right now it’s not looking good for the US Dollar especially if one considers the number of dollars that the US government had printed in 2020 and 2021 just so they could fund their spending.
That being said it’s not like the US Dollar would suddenly lose its value overnight. No that won’t happen very soon so don’t panic. What I’m trying to say was that cryptocurrency is a lot stronger than the US Dollar at the moment so we should try to take advantage of it. As for how you should take advantage of the bull market, that’ll be left to your discretion.
And trust me when I say that there are plenty of options that one could explore if one decides to invest in the cryptocurrency industry beyond buying and selling cryptocurrencies.
For example; there were cryptocurrency mining, staking, Blockchain-based cryptocurrency gaming (Axie Infinity, Splinterlands, Rising Star Game, etc.), and NFT just to name a few.
Speaking of which, Blockchain-based gaming or should I say NFT gaming is becoming more and more popular and profitable these days. It’s so popular that NFT-based games are sprouting like weeds. Okay, that’s a bit of exaggeration but it’s also true that many NFT games are have been developed, and/or are being developed right now. It’s just insane. Just do a quick Google search if you don’t believe me.
The most popular ones are the likes of Axie Infinity and Splinterlands. These two games currently have the most players and are probably the most profitable. That being said if you want to play the aforementioned games, you need to fork out money. The more money you put in the game the better the profit. Of course, I’m not telling you to invest and play these games. It’s up to you what to do with your money.
Moreover, different people have different likes and dislike so if you don’t like gaming then NFT games might not be for you. Just a friendly reminder though. If ever you decided to invest in any crypto-based projects, always make sure to give your due diligence and do your research.