Hello Publish0xers,
My BTCs are not growing. They actually lost a bit from last time I checked. How is it possible ?
From the big deep in April, BTC has grown a lot returning above 100K and stabilizing around 105K $ since May.
BUT
If we have the same graphic in Euros, the situation is a bit different. Instead of a stable line since May, we are declining a bit.
WHY
The Euro is so damn strong, it reminds me of Mike Beasley vs. Lance Stephenson!
My BTCs - or better my thousands of Sats - lost a bit because I spent euros in Italy and not dollars. Of course there are ways to spend dollars in Italy but that's a workaround I haven't explored -, remember I'm not poor but at least 70% of Italians are wealthier than me. Meh!
Other side of the coin: we could wait for the EUR and USD to return to around 1:1 and maybe earn a bit when we convert USD to EUR. I don’t think it’ll happen soon, but in the long run, it’s a possibility. And we’re all staking our BTC anyway, hoping to 2x at least — right?!
Probably in the mid term, the EUR will get even stronger. Wars are ongoing, and the Fed will soon promote some quantitative easing. Inflation will make dollars less valuable. Vice versa, in the crypto market — being a risk-on environment — a bigger money supply should bring growth, hopefully enough to beat even a stronger EUR.
To conclude:
-Images courtesy of Google Finance
-This is not financial advice — just predictions from a bad gambler
-Go Dollars ! Beat those Euros !
Best regards,
ilpegg
