[JustinPooDoughParticipant]

Something I’ve been wondering:

Right now, obviously there are larger macro-economic and socio-political factors at play that are suppressing BTC’s market value. However:

* BTC is a deflationary asset
* USD – and other national currencies – are inflationary assets

If you are to value BTC against the American dollar with these two factors in mind, would it not be reasonable to expect the market value of BTC – relative to USD – to increase based on both of these factors? As in, BTC’s value increases over time due to its decreasing *new* supply (mining rewards halving), but also simultaneously gains relative strength over the USD simply due to inflationary pressure on the USD?

If this is the case, I think this relative gain in strength simply due to lack of inflationary effects (which all other currencies are exposed to) could be one of the largest driving factors in BTC gaining value relative to national currencies – especially given the current situation with high inflation.

Once these broader market factors pass, one would expect that BTC would reflect this in its USD market rate – would it not?

[SmoothGoing]

Obviously… suppressing. Riiight.

Obviously… price was PUMPED by thin air tokens and extreme leverage. See? I also can make biased statements.

[uncontrollableop]

prices aren’t objectively determined. nobody knows. it’s a chaotic system. market trends are as complex and unpredictable as trends in more general human behaviors.

bitcoin is better. buy it, or hold it, for that reason. the financial attacks on all markets (and especially those markets which intend to compete with dominant regimes) will continue forever to greater or lesser effect.

[Leading_Zeros]

Hard money has out-competed easy money every time in history for this reason. The flip comes a lot sooner than expected though due to market participants engaging in a speculative attack on the weaker currency.

[https://nakamotoinstitute.org/mempool/speculative-attack/](https://nakamotoinstitute.org/mempool/speculative-attack/)

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