Great news USD Crypto Investors!
Thanks to the Trump administration, the USD is hitting a 3-year low. Sure, the world hates the United States. Sure, all of our USD financial assets are worth less relative to foreign financial assets, and imports are more expensive. Sure, we might be on a brink of a nuclear war. But one thing is for certain: Trump is making Bitcoin great again.
Over the long term, distrust in the government and its monetary system can only increase the value of cryptocurrencies. But we USD Bitcoin investors are already basking in the orange glow.
Fact: Because the USD is getting destroyed, your crypto bros in China, Japan, Korea, and Europe actually lost more than you did on Bitcoins.
Appreciation vs. USD from 12/16/2017 through 1/25/2018 (Since Bitcoin hits all-time-high):
- BTC: -41.9%
- EUR: +6.3%
- CNY: +4.3%
- YEN: +3.6%
- KRW: +2.9%
BTC pull-back 12/16/2017 through 1/25/2018 in various currencies (using USD Bitcon prices, translated to FX exchange rates at the time):
- USD: -41.9%
- KRW: -42.6%
- CNY: +44.3%
- EUR: -45.3%