Connect with us

Hi, what are you looking for?

Bitcoin Takeover

Bitcoin

No 2020 Bitcoin All-Time High Until $21.300

I’m sorry to be the party pooper, but we shouldn’t pop the champagne just yet.

After Bitcoin broke the $20.000 mark on December 16th 2020, community exuberance kicked in. Everyone, from exchange owners to self-entitled plebs, started talking about the new all-time high.

However, we shouldn’t celebrate just yet. Uncle Sam has taken care of the almighty USD to such an extent that $21.300 is the new $20.000. Wait, what?

Since Bitcoin’s previous ATH in 2017, the US dollar has had an inflation rate of 6.55%. Which means that anyone who bought at the top three years ago still doesn’t have the same purchasing power. It will take until BTC hits $21.300 until we can actually say that we are seeing profits.

The Federal Reserve’s goal is to have a steady inflation rate of 2%. But in 2020, the money printer has gone BRRR and it’s likely that the Cantillon effect will show its consequences in the coming months and years. So it’s likely that the reported 6.55% inflation rate between 2017 and 2020 is actually greater. Only time will tell.

The bottom line is that we don’t have a real Bitcoin all-time high until the price hits the $21.300 mark. Don’t let yourself get confused by previous market valuation – especially when we’re referring to inflationary fiat.

For more information, check out the inflation tool calculator. And if you’re new to Bitcoin, learn more by reading this FAQ.

Donate to Bitcoin Takeover

Enjoyed this article? Found it helpful? Well, you can definitely support my work with a donation. Here’s how you can do it:

Donate BTC: 36iGomuWKYvKdpUybRD4xtREHgxN3nQCNF 

Donate bits via Lightning: https://tippin.me/@TheVladCostea

Support the channel on Patreon with dirty fiat: https://www.patreon.com/bitcointakeover

Your contributions will get added to the Hall of Patrons (please e-mail me and tell me that I should acknowledge your donation).

Vlad Costea
Written By

I'm here for the freedom, censorship-resistance, and unconfiscatability. What about you?

Click to comment

So, what do you think?

Read the Bitcoin Whitepaper!

Only trade with hard money!

Vaultoro enables traders to get paid negative trading fees. This is one of the best crypto exchanges in 2020, enabling anyone to trade crypto to crypto and crypto to gold and silver bullion. And market makers receive a negative trading fee.

Secure your bitcoins with a Trezor!

Bitcoin Exchange rates

1 BTC = 53113.7200 USD
1 BTC = 53157.3700 USDT
1 BTC = 43753.9200 EUR
1 BTC = 37936.7200 GBP
1 BTC = 67553.4800 AUD
1 BTC = 66338.7900 CAD
1 BTC = 5623508.5600 JPY
1 BTC = 368417.7600 CNY
1 BTC = 225829.2200 RON

Steel plates are better than paper!

Listen to #BitcoinMusic


You May Also Like

Bitcoin

During the past few months, Bitcoin has consistently hit new all-time highs against the US dollar and gold. Reasons include declining trust in politicians...

Bitcoin

Money printer go BRRRRR, Bitcoin number go up!