Bitcoin as far as it will go today I touch the $ 11,000 USD

Discussion in 'Bitcoin Discussion' started by CarlosR, Dec 7, 2017.

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  1. CarlosR

    CarlosR New Member

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    At the end of 2008, the Fed announced they had opted for a “printing press” cure to the crisis as the first round of the regulator’s asset-purchasing program got underway. No one knows the current value of the M3 money supply in the US. Some members of Congress are long-time critics of the Fed and blame the regulator for turning the dollar into a bubble with no real backing.

    I agree with this assessment. If you look at the Federal Reserve’s economic projections over the last 5- 6 years, you’ll find that they almost always miss the mark. It’s important to understand that the Fed’s main role is to regulate money supply (by forming monetary policy) to support economic growth (low unemployment and 2% annual inflation). The question is how can the money supply be efficiently controlled when the Fed itself doesn’t know how much money is in circulation (as I’ve stated above, this relates to the M3 money supply)? This is exactly why the Fed’s economic forecasts have been off for the last 10 years as well as why they’ve been unable to adequately conduct monetary policy. In other words, the Fed has become less efficient at its job and the supply of dollars has slipped form their control.

    Crypto-analysts claim that during the next US crisis, not only will global investors shift towards cryptocurrencies (i.e. the dollar will lose its status as a safe haven and become a high-risk, unreliable asset), but American citizens will also look to exchange their dollars for crypto, bringing about a total collapse of the US dollar.

    Crypto-analysts claim that with the collapse of the dollar, bitcoin will cost somewhere between 1 and 5 million USD. At the time of writing this review, bitcoin is trading at $15,000 USD with a market cap of 182.22bn USD.
     
  2. JulioMedina

    JulioMedina ADMINISTRATOR

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    Blew right past that 11k mark! What a time to be alive!
     
  3. CarlosR

    CarlosR New Member

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    Bitcoin prices are suffering this morning, following a record spike to over $17,000 overnight. Actually in currency exchange today the Bitcoin is a roller coaster that goes up and down very abruptly.
     
    Last edited: Dec 9, 2017
  4. paricpo

    paricpo Member

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    Thanks for your information and thanks to you very much. :)
     

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