Bitcoin is more stable than many Fiat currencies
Despite the strong correction in the history of bitcoin looks more promising currency, than some Fiat counterparts. This was announced by Charlie Bilello, Director of the research Department of the company Pension Partners, managing mutual funds. In the presented Charlie the diagram shows a comparison between the Fiat of the assets and certain cryptocurrencies for the last nine months.
So looking at the diagram, it is seen that the hardest dipped Fiat currency for countries under sanctions. For example, the Turkish Lira shows a 44 percent drop against the U.S. dollar. The depreciation of the Turkish Fiat due to the tightening of sanctions imposed by the us government against Turkey.
Argentine peso (-50%) and the Venezuelan Bolivar (-99%) greatly falling on the background of hyperinflation. In Venezuela the value of the Bolivar also reduced due to government cryptogramma. We will remind that the President of the country Nicolas Maduro released a national cryptocurrency Petro, Venezuelans don’t want to, preferring the cue and dash.
According to the chart, the strongest players cryptosphere is EOS (-15%), VeChain (-27%) and Bitcoin (-46%). What does that mean? Analysts are talking about bubbles in the market of digital assets, although among Fiat currencies, as it turns out, bubbles no less. And if, according to the forecasts of other analysts, the stock market is on the threshold of a new big rally, the Russian ruble and the Sudanese pound is not what to expect. Well, really, what to say, even if the Swedish Krona sank by 10%?
Bitcoin looks stable despite the decline in value. CEO of eToro Yoni, Assia said that from the beginning of 2018, the demand for the cue ball is not greatly decreased. “In our view, the current correction looks positive from the point of view of long-term prospects, he says. — Cryptocurrency market is still developing market, and the shares of the companies associated with new technologies has always shown volatility. The recent market correction has helped to stabilize prices and make the industry more reliable. Despite this correction, we saw a significant drop in the demand for digital assets.”