What will happen to the dollar in this new financial era, will it be replaced by bitcoin? What will happen to the dollar in this new financial era, will it be replaced by bitcoin? 0 Share
The cryptocurrencies and mainly bitcoin have gained strength in the financial sector, many use it as a refuge of value, this has led many specialists to rethink a new economic scenario, increasing the adoption of crypto assets and gradually replacing the traditional financial system.
Crypto report I speak with the Venezuelan José Rafael Vivas, to know his vision about the panorama of bitcoin in the new financial era and the dollar, who is a 4.0 digital architect, investor and fundamental cryptocurrency analyst of the CriptoPolítica channel on YouTube.In your opinion, what would happen to the dollar if bitcoin continues to rise?
When one currency is replaced by another, the replaced one loses value and the adopted one revalues, one of these examples can be found in the same dollar, which weeks after the World Health Organization (WHO) announced the pandemic, the majority of the fiat currencies of the world began to depreciate against this, all this because the societies of the world began to take refuge en masse in the US currency.
Now if we talk about bitcoin, this can be explained in the following way: “the largest incoming capital in this digital currency is in dollars, this means that as the cryptocurrency increases in price it becomes more attractive and large institutions, traders and part of society began an euphoric injection of capital in gringo currency which makes the dollar continue to lose value against bitcoin and bitcoin continue to grow.
BTC grows by injection of capital in other currencies and decreases by extraction of it and as the world aligns itself to cryptocurrencies, more capital will enter this cryptographic asset, making it increasingly stronger against the dollar, the problem with BTC is that it is a victim of supply and demand and obviously it will not fail to present very deep corrections.
2.How far can the price of bitcoin go?
Personally, I believe that this cryptocurrency has the free way to position itself in the world as a tradable currency and a haven of value, powerful financial institutions have predicted surprising values in bitcoin (BTC) by the end of 2021, including $ 240,000 per unit of this active and I could like some other colleagues say that this crypto currency could hit one million five hundred thousand dollars ($ 1,500,000) in the long term.
In my opinion this will be possible only when at least 3% of the world begins to align itself towards investments in this asset, we will see that over time because giving an exact forecast would be speculating, but based on the fundamentals and also on the effects of halving for the reduction of the asset that it generates, that value is possible in the future.
3.Do you think that the latest events in the US with the seizure of the capitol did the New York Stock Exchange affect the price of Bitcoin?
The truth is, I doubt that this event has 100% affected the price of bitcoin, taking it to the maximum values of $ 40,900, although that thesis cannot be ruled out.
In the New York Stock Exchange there is a percentage of investors in bitcoin and other cryptocurrencies and obviously not in the stock market as such but in other places, influencing the growth of the asset in a certain way, since they are people with high purchasing power and influence.
in the world of electronic currencies.
4.How has Covid affected the price of bitcoin?
Regarding the Coronavirus (Covid-19) and bitcoin, I can say that the pandemic has been an extremely important factor which has allowed BTC to double its historical maximum in 2020, obtained in 2017, since we are talking about a virtual currency And that gives it extra points on physical currencies, since being digital it cannot carry bacteria that in turn could transmit Covid.
Let us remember that months after the increase in coronavirus cases in China, the government of that country signed a decree to quarantine its national physical currency the Yuan, considering it a transmission factor.
The quarantine of physical banknotes allowed cryptocurrencies to be seen as another payment option, managing to increase their value in those businesses that were unaware of their existence and the advantages of this digital asset in the Asian country.
5.What do you think of the bitcoin price forecast that the JP Morgan Recently, where he said that bitcoin could replace gold with a price increase of up to $ 146,000 in the long term, after showing his skepticism about this Cryptocurrency years ago?
Here there are many theses that I can mention, the first is that like all of us who work and know the world of cryptocurrencies, JP Morgan could be using its usual propaganda to manipulate the price of bitcoin due to the influence that its ads generate in the community of crypto investors in the world, generating an opinion matrix that allows to increase the euphoria towards this asset and in this way accelerate the growth of its price.
Let us remember that for years, they have been storing the cryptocurrency every time in the past their negative announcements caused large price corrections in the BTC to buy downwards, and now, already converted into a great whale, the strategy is to give oxygen to the asset digital so that your investments generate large capital gains.
Another thesis is that they, like me, have been announcing that cryptocurrencies have started a slow reset of global finances and it is inevitable that the world will cryptocurrency, something that they cannot avoid and therefore the idea is to monopolize the greatest amount of bitcoin to dominate in the future market, because everyone who owns bitcoin will be the one who will write the rules.
Now with respect to their forecast of a price of $ 146,000 it is obviously possible, this could be achieved as the boom in BTC increases and they in alliance with the big media, companies and other entities such as Citibank go boosting its price through its influential advertisements that impact the international community.
On the other hand, bitcoin as a currency of high volatility and dependent on supply and demand, could reach that level or exceed it, it could also plummet to 50%, nobody knows exactly.
With regard to bitcoin being able to replace gold, I think it is easier for bitcoin to fully replace the dollar than gold, since gold has lasted for thousands of years without being replaced by any other asset as a refuge of value , Gold is only formed when there are explosions of stars making it into finer money that exists in the universe, it is something only created by the nature of the universe against something only developed with the power of Blockchain technology.
As I mentioned a moment ago, hundreds of fiat currencies have disappeared, but gold could be whole and prevail with cryptocurrencies forever even further, surpassing it in ounce value obviously if possible because we are seeing it, but not making it obsolete as if it could happen with the dollar and all the paper currencies.
6.What is the rise in the price of bitcoin in recent days due to?
This is very difficult to explain and give an accurate forecast, so with this type of scenario I prefer to work with hypotheses.
In the world of bitcoin there are what are known as whales, these are entities and companies that move thousands of units of this asset, among them JP Morgan and obviously their announcements have had an impact, but if I am not mistaken before that, some famous people from the American artistic media had released very positive opinions about bitcoin to their communities of millions of followers, which may have started an avalanche of new investors, I remember very well the media announcements on this topic, but not the names of these celebrities.
Already after these announcements, bitcoin surprisingly began to show green numbers and then large banks like the aforementioned launch their announcements and complement all this news impact.
Bitcoin started a growth going from 10,800 dollars to 16,000 and this obviously activated the community of crypto investors, traders, influencers of the crypto world and new entities and institutions, accelerating even more the growth of the price of the cryptocurrency, remember that it moves by effect attractive, the higher the value, the more euphoria it generates and more investors enter to the point of stabilizing or correcting this, adding some possible New York stockholders.
7.
Do you think the dollar will collapse in the next few years?
As I have always said, “nothing lasts forever”, in the history of the world there have been more than 600 fiat currencies and they have all collapsed, each and every one, and there is no doubt that the dollar will too, everything has evolved , money has evolved dozens of times and now it is the turn of the physical ticket.
This will be in the long term, because if we talk about the substitution of the dollar for the bitcoin, it is necessary to implement the full use of this type of digital asset and for this it is necessary that the entire world population have access to tools that allow the transfers of electronic currency, and high-speed internet.
Although they already exist satellite nodes that facilitate bitcoin transfers without the need for the internet, but it would take a long time to reach the world.
On the other hand, I think that the dollar as such will not disappear in its entirety for a long time, but it will lose its hegemony as the dominant currency against cryptocurrencies like the SWIFT system .
But one would have to wonder how the US government is preparing for this? The answer would be by debating in congress the development of a US national cryptocurrency backed with dollars, in order to give a little oxygen to the greenback, and thus compete with China’s digital yuan or national cryptocurrency, which already exist and is being tested in ATMs for use and circulation.
Let’s remember that China is not the first nation to develop something like this, the world’s first national cryptocurrency was developed in Venezuela called petro.
8.Do you consider that we are at the beginning of a new financial era, why?
I am completely convinced that the era of Blockchain and cryptocurrencies has started from 2021 and everyone, both the population, as banks, companies and governments will have to align themselves with what comes from the future, the economic world and finance as we know them will leave If there is, all this that we are seeing since the discovery of the blockchain and cryptocurrencies creates a new horizon, where more and more surprising discoveries start an era more advanced than the previous one.
A simple example of this that I can give, is that the blockchain and cryptocurrencies will do with banks what the internet did with WhatsApp and Telegram in terms of telephone text messages, and the nation that has control of this new technology will have the supremacy.
Therefore, as a Venezuelan I have focused on a level of obsession, and with it, try to raise my people in favor of blockchain technology and decentralized cryptocurrencies to forge a “Crypto-Financial” nation only built by society, merchants, entrepreneurs, producers and youth in general.
Since Venezuela influences the bitcoin market worldwide, because it has the largest community of crypto investors and miners in the continent and with this the conditions are in place to start our uprising.
For more information on this exciting topic, you can follow José Rafael on his networks on Instagram / @criptopolitica_oficial, YouTube / CriptoPolítica and Telegram @criptopolitica_oficial..
