Forex-News has been the world leading economy news website since 2005. It has been a joyful path full of changing variables in this changing world. During the last three years we have also covered some of the most important news regarding Bitcoin and other cryptocurrencies. Wherever the news are, we are there.
Ethereum Classic

CEO Ripple Forecasts Further Dollar Fall


Businesses have had to test the waters of global markets and finance. This with more care than in the past because of the pandemic. And in the case of the United States, its economy has clearly been hit by COVID-19. Therefore, the CEO of Ripple predicts a further fall of the dollar and a future profit for cryptocurrencies.

Well, because of the pandemic and the global crisis, companies have already lost too much capital and must ask themselves how to proceed correctly, said Ripple Labs CEO Brad Garlinghouse.

In this way, fears about the future of the American currency have increased. Well, everyone agrees that this negative performance could be the true future of the dollar.

Ripple CEO has no doubts about the negative future of the dollar

Thus he asserted in a tweet August 28. Since for the CEO of Ripple Labs, the actions and decisions to be taken by the Federal Reserve of the United States are a more than clear signal to support this forecast.

“The pandemic is throwing so many playbooks out the window”, he postulated in a tweet on August 28. “Yesterday’s action goes against decades of precedent”he said, after Federal Reserve Director Jerome Powell explained that the US central bank will seek to keep inflation at 2%, on average.

The dollar index fell for the last time 0.7% to 92,287, also due to the statements of the Federal Reserve. In addition, their prices were negative against a basket of currencies. This behavior is the basis for the forecast of a further decline in the dollar.

“Signs point to further dollar degradation in the short term (which will lead to further diversification of assets which will certainly be good for cryptocurrencies)”Garlinghouse added in his forecast of a further decline in the dollar.

, CEO Ripple Forecasts Further Dollar Fall, Forex-News, Forex-News
Garlinghouse, CEO of Ripple predicts a further fall of the dollar, a situation that could be positive for cryptocurrencies, and especially for Bitcoin. Source: Investing

Bitcoin is the future of the world economy

In turn, Garlinghouse assured that this negative performance of the dollar and its future devaluation is positive for cryptocurrencies, and more specifically, for Bitcoin.

Even this behavior is already beginning to be seen in the cryptocurrency market. Since, since the pandemic began, the increase in crypto users has had an exponential growth.

For this reason, Garlinghouse includes in his forecast a greater adoption of Bitcoin by users and investors, as a viable hedge, pointed out by several participants in the crypto industry.

It is worth mentioning that relevant analysts have made comparisons between Bitcoin and gold as reserve assets of hedge values, the co-founder of the Gemini crypto exchange Tyler Winklevoss mentioned a possible scenario where Bitcoin reaches $ 500,000.

Could Bitcoin take the place of the dollar in the future of global finance?

Get real time updates directly on you device, subscribe now.

Leave A Reply

Your email address will not be published.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More