Market analysts have been ripping on Bitcoin, stating that its volatility prevents it from becoming stable enough to become a viable currency, assuming that “volatility” is a reliable criterion for making such a distinction, utterly failing to consider the “substance” backing their non-evidence.
So, if they can’t present a simple comparative analysis, let’s do it ourselves.
Not volatile enough?
What happens if we look at other currencies against the dollar?
Aside from the Euro, what appears to be the exception among the pack, doesn’t it sort of look like the rest of the world’s major currencies are soaring against the dollar?
That USD/JPY freefall deserves a double-take…
Japan’s Abe and our own President Trump seem to have given the dollar a nice boost…for Trump, the boost appears to have lasted…a month…month and a half?
But gold spiked to $1,350…
And what about that so-called “fake” currency; you know…that volatile one; the crypto whose trajectorial velocity is too “unstable” to be considered reliable?
So where is the substance behind the argument that real currencies shouldn’t be volatile?
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