![]() ![]() ![]() While Roach agrees that the US president has sometimes preferred a weaker dollar that carries the advantage of an increase in exports, the longer-term picture doesn’t look appealing for the overall economy. The Chinese Yuan has been gaining against the USD, thereby attracting more investors to its side as the Asian country embarks on an aggressive economic reform more focused on service delivery as opposed to manufacturing. Photo : Dan Kitwood/Getty Images Several analysts say this 2021 was the year of cryptocurrencies. One of them even argued that Bitcoin price could go as low as 10,000. The Rise Of ChinaĬhina is thriving, and with it comes a serious contender against the US on the global stage. Bitcoin Price Prediction 2022: Finance Expert Warns Potential Bitcoin Crash to 10,000 Despite the recent crypto success, experts believe that a price crash is inevitable in 2022. Bitcoin has been tightly correlated with the stock market since the start of 2020. The fact that the economy of the world’s envied superpower is now in jeopardy has weakened the previously popular notion of “American exceptionalism.” This has put even more pressure on the dollar. BITCOIN’s price dipped below 6,500 yesterday as it fell below a key price point, which could be a sign of an imminent slide in its value, a crypto expert has predicted. With Bitcoin’s increasing popularity and acceptance as a credible and safe means of payment and store of value, the fall of the dollar could prove bullish for the top crypto. Another factor to affect the USD is the increasing disaffection towards it by the country’s trading partners, and this has put the dollar’s position as a global reserve currency in question.įurther, Roach notes that the US economy is already stressed due to the recession that followed the pandemic in February, and this has further been escalated by the trillions being spent to combat the pandemic. Just last year, Chinese investors looked to Bitcoin to safeguard the value of their wealth as the country’s currency took a hit downwards. He attributes this to the rising federal debt and decreasing savings. A veteran of the exchange-traded fund market and an indexing expert, Nadig told CNBC’s Bob Pisani that a bitcoin ETF was not imminent but remained a strong possibility for 2019. In his view, Roach sees the dollar weakening and posting a 35% decline against other currencies in the near future. A bitcoin ETF does not wait on the immediate horizon, according to the managing director of ETF.com, Dave Nadig. Stephen Roach, a senior fellow of the Yale University and former chairman of Morgan Stanley Asia, had a few points to explain his opinion. One renowned economist has spoken out to warn of the ultimate decline of the US Dollar. ![]()
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