{"id":428237,"date":"2020-06-23T18:00:16","date_gmt":"2020-06-23T18:00:16","guid":{"rendered":"https:\/\/wncen.com\/?p=428237"},"modified":"2024-06-11T14:04:18","modified_gmt":"2024-06-11T14:04:18","slug":"economist-dollar-decline-bitcoin","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/economist-dollar-decline-bitcoin\/","title":{"rendered":"Economist Warns of Warp Speed Dollar Decline, How Will Bitcoin Respond?"},"content":{"rendered":"

The United States is in turmoil, and the dollar is weakening slowly, but steadily. But an economist is warning that the decline may soon kick into warp speed. If it does, what might that mean for Bitcoin<\/a>?<\/p>\n

Warp Speed Dollar Decline Could Lead Bitcoin To Take The Throne<\/h2>\n

The United States has long enjoyed its role as an economic superpower. Its been almost 100 years since the dollar became the global reserve currency, fueling financial dominance in the country.<\/p>\n

For the first time in its history, the dollar is showing signs of serious weakness and doubt.<\/p>\n

As the black swan pandemic first began to impact the economy, investors flocked to safe-haven assets like gold, yen, franc, and the dollar.<\/p>\n

Related Reading | Peaceful Protestor Recommends Buying Bitcoin On Live TV To Opt Out Of Failed Monetary System<\/a><\/strong><\/em><\/p>\n

These assets, including the dollar, traded at a premium, while other assets like stocks and cryptocurrencies like Bitcoin tanked.<\/p>\n

But how the United States has handled the hit to the economy the pandemic caused, has put the dollar in a vulnerable position.<\/p>\n

Former Morgan Stanley Asia chairman Stephen Roach believes that things are about to get much worse for the dollar, however. And fast. It also may be a favorable environment for Bitcoin.<\/p>\n

Economist Examines Perfect Storm For Unprecedented USD Deterioration<\/h2>\n

According to the American economist, the dollar could soon decline at “warp speed.” And it could leave the asset vulnerable to Bitcoin<\/a>.<\/p>\n

\u201cIn a COVID era everything unfolds at warp speed,\u201d Roach told MarketWatch<\/a>.<\/p><\/blockquote>\n

Roach sees the deterioration of the dollar happening “sooner rather than later,” and it could end the dollar’s domination as a global reserve.<\/p>\n

The economist cites the combination of record unemployment rates, a rapidly growing Fed balance sheet, and a shrinking GDP as reasons for the sharp decline.<\/p>\n

Roach’s comments have been met with strong criticism, which he blames on especially sensitive timing in the United States.<\/p>\n

The recent, controversial political cycle may be coming to an end, and the nation is currently in turmoil. Public unrest over police brutality, wage inequality, and racism, has led to widespread protests and riots.<\/p>\n

The country’s plan to reopen the economy has come under scrutiny<\/a> as being “poor.”<\/p>\n

Adding insult to injury, new cases of the virus that caused the disruption in the first place is once again starting to climb.<\/p>\n

Related Reading | Bitcoin Is The Answer: Survey Results Reveal Growing Millennial Distrust in Big Banks<\/a><\/strong><\/em><\/p>\n

If another wave of the pandemic hits the United States full force, with so much else going on, it could destroy the dollar.<\/p>\n

During this, Bitcoin is further emerging as an ideal replacement for the dollar. Contactless payments are becoming preferred, and a non-physical store of value is becoming more necessary.<\/p>\n

The US continues to fail to release a digital dollar of its own, and could soon be preempted by rival China.<\/p>\n

Bitcoin<\/a> is non-sovereign, acts as a hedge against inflation, and found itself suddenly a topic at recent protests. Protesters were championing Bitcoin as a way to opt-out of the government’s control and poor management of monetary policy.<\/p>\n

Monetary policy that’s been so grossly mismanaged, it could lead to the warp speed decline of the dollar as Roach says.<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

The United States is in turmoil, and the dollar is weakening slowly, but steadily. But an economist is warning that the decline may soon kick into warp speed. If it does, what might that mean for Bitcoin? Warp Speed Dollar Decline Could Lead Bitcoin To Take The Throne The United States has long enjoyed its role as an economic superpower. Its been almost 100 years since the dollar became the global reserve currency, fueling financial dominance in the country. For the first time in its history, the dollar is showing signs of serious weakness and doubt. As the black swan pandemic first began to impact the economy, investors flocked to safe-haven assets like gold, yen, franc, and the dollar. Related Reading | Peaceful Protestor Recommends Buying Bitcoin On Live TV To Opt Out Of Failed Monetary System These assets, including the dollar, traded at a premium, while other assets like stocks and cryptocurrencies like Bitcoin tanked. But how the United States has handled the hit to the economy the pandemic caused, has put the dollar in a vulnerable position. Former Morgan Stanley Asia chairman Stephen Roach believes that things are about to get much worse for the dollar, however. And fast. It also may be a favorable environment for Bitcoin. Economist Examines Perfect Storm For Unprecedented USD Deterioration According to the American economist, the dollar could soon decline at “warp speed.” And it could leave the asset vulnerable to Bitcoin. \u201cIn a COVID era everything unfolds at warp speed,\u201d Roach told MarketWatch. Roach sees the deterioration of the dollar happening “sooner rather than later,” and it could end the dollar’s domination as a global reserve. The economist cites the combination of record unemployment rates, a rapidly growing Fed balance sheet, and a shrinking GDP as reasons for the sharp decline. Roach’s comments have been met with strong criticism, which he blames on especially sensitive timing in the United States. The recent, controversial political cycle may be coming to an end, and the nation is currently in turmoil. Public unrest over police brutality, wage inequality, and racism, has led to widespread protests and riots. The country’s plan to reopen the economy has come under scrutiny as being “poor.” Adding insult to injury, new cases of the virus that caused the disruption in the first place is once again starting to climb. Related Reading | Bitcoin Is The Answer: Survey Results Reveal Growing Millennial Distrust in Big Banks If another wave of the pandemic hits the United States full force, with so much else going on, it could destroy the dollar. During this, Bitcoin is further emerging as an ideal replacement for the dollar. Contactless payments are becoming preferred, and a non-physical store of value is becoming more necessary. The US continues to fail to release a digital dollar of its own, and could soon be preempted by rival China. Bitcoin is non-sovereign, acts as a hedge against inflation, and found itself suddenly a topic at recent protests. Protesters were championing Bitcoin as a way to opt-out of the government’s control and poor management of monetary policy. Monetary policy that’s been so grossly mismanaged, it could lead to the warp speed decline of the dollar as Roach says.  <\/p>\n","protected":false},"author":517,"featured_media":428241,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,1119,1144,78790,6664,1817,4324,4524,76835],"class_list":["post-428237","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btc","tag-btcusd","tag-btcusdt","tag-crypto","tag-dollar","tag-usd","tag-xbt","tag-xbtusd"],"acf":[],"yoast_head":"\nEconomist Warns of Warp Speed Dollar Decline, How Will Bitcoin Respond?<\/title>\n<meta name=\"description\" content=\"The United States is in turmoil, and the dollar is weakening slowly, but steadily. 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As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market. A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony\u2019s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements. Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions. In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony\u2019s expertise to guide their trading strategies. Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies. Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders. His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics. Tony\u2019s nickname, \"The Bull,\" aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice. In summary, Tony \"The Bull\" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.","sameAs":["https:\/\/coinchartist.io\/","https:\/\/www.instagram.com\/coinchartist_io\/","https:\/\/x.com\/https:\/\/twitter.com\/tonythebullBTC","https:\/\/www.youtube.com\/@coinchartist_io"],"url":"https:\/\/wncen.com\/author\/tonymspilotro\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Economist Warns of Warp Speed Dollar Decline, How Will Bitcoin Respond?","url":"http:\/\/wncen.com\/news\/economist-dollar-decline-bitcoin\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/economist-dollar-decline-bitcoin\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/dollar-decline-bitcoin-shutterstock_675652909-scaled.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/dollar-decline-bitcoin-shutterstock_675652909-scaled.jpg?fit=2560%2C1544"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Tony \"El Toro\" Severino"}],"creator":["Tony \"El Toro\" Severino"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","btc","btcusd","btcusdt","crypto","dollar","usd","xbt","xbtusd"],"dateCreated":"2020-06-23T18:00:16Z","datePublished":"2020-06-23T18:00:16Z","dateModified":"2024-06-11T14:04:18Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Economist Warns of Warp Speed Dollar Decline, How Will Bitcoin Respond?\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/economist-dollar-decline-bitcoin\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/economist-dollar-decline-bitcoin\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/dollar-decline-bitcoin-shutterstock_675652909-scaled.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/dollar-decline-bitcoin-shutterstock_675652909-scaled.jpg?fit=2560%2C1544\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Tony \\\"El Toro\\\" Severino\"}],\"creator\":[\"Tony \\\"El Toro\\\" Severino\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"btc\",\"btcusd\",\"btcusdt\",\"crypto\",\"dollar\",\"usd\",\"xbt\",\"xbtusd\"],\"dateCreated\":\"2020-06-23T18:00:16Z\",\"datePublished\":\"2020-06-23T18:00:16Z\",\"dateModified\":\"2024-06-11T14:04:18Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/dollar-decline-bitcoin-shutterstock_675652909-scaled.jpg?fit=2560%2C1544","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/428237"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/517"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=428237"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/428237\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/428241"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=428237"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=428237"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=428237"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}