Story by: Panos Mourdoukoutas
The rally in Bitcoin and other major cryptocurrencies is for real this time around.
That’s according to Alex Karasulu, Founder / CEO of OptDyn Inc., who sees Bitcoin and other major cryptocurrencies as alternatives to the US dollar global ecosystem. “The cryptocurrency ecosystem is the primary alternative to the existing fiat currency system with Bitcoin analogous to the US dollar and other altcoins indexed to its value,” says Karasulu.
The reason? The US global ecosystem has become unstable. “The recent bullish uptick was primarily due to the destabilization of the entire sovereign ecosystem whose fiat currencies are all indexed to the US dollar,” adds Karasulu.“The constant news of doom and gloom, of kinetic wars being averted just in the nick of time, more tariffs, and more sanctions threats being levied has markets spooked with many in search of independent alternatives.”
This view is certainly consistent with the price gyrations of major cryptocurrencies in response to trade war news. When the trade war turned worse in early June, for instance, cryptocurrency prices rallied. But they pulled back at the end of June, as the trade war eased.
Original story: https://tinyurl.com/y3y9hy4mby