BTC ATH in local currency | Bitcointalksearch.org

khiholangkang

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Quote from: arufox on May 16, 2024, 10:44:09 AM

Quote from: khiholangkang on March 04, 2024, 12:16:12 AM

Inflation in my country shows a big gap with the dollar, when bitcoin touches the price level of $64k, ATH 2021 has been touched by our country's currency which is IDR 980 million / rounded up 1M, while in 2021 the value of the Dollar equivalent to my country's Rupiah is approximately $69k to get the amount of 980 million / 1M. Here it is clear that for 2-3 years we have experienced much crazier inflation, with a difference of $5k. That's heartbreaking to me, and luckily I kept most of my savings in BTC, and today it's getting a much better price increase, and it's enough for me to spend a year with my family if I sell it.

I would like to ask if in your country BTC has reached the old ATH or even the new ATH at the current price if using your local currency?

It seems you and I are in the same country. I also feel the same way that the inflation rate is very high. However, if you have saved most of your savings in the form of BTC, not with me, I actually feel the current economic difficulties because I never saved a long time ago when I had assets in the form of BTC. But at least this is a valuable lesson for me to learn in the future and want to apply strategies like you.

Good view my friend, we really need to study macro and microeconomics, especially in terms of finance which nowadays we can read openly, and we can get information easily.
My realization also happened because I made a mistake because I learned to save in fiat money when I was a child and I opened it when I left school, and 5 years after I collected the money I realized that the exchange rate was very different, at that time I wanted to buy it against gold but the price was much different when I first saved the money.

We just need to correct mistakes and not repeat them again, and bitcoin is the best alternative for young people to save.

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Quote from: khiholangkang on March 04, 2024, 12:16:12 AM

Inflation in my country shows a big gap with the dollar, when bitcoin touches the price level of $64k, ATH 2021 has been touched by our country's currency which is IDR 980 million / rounded up 1M, while in 2021 the value of the Dollar equivalent to my country's Rupiah is approximately $69k to get the amount of 980 million / 1M. Here it is clear that for 2-3 years we have experienced much crazier inflation, with a difference of $5k. That's heartbreaking to me, and luckily I kept most of my savings in BTC, and today it's getting a much better price increase, and it's enough for me to spend a year with my family if I sell it.

I would like to ask if in your country BTC has reached the old ATH or even the new ATH at the current price if using your local currency?

It seems you and I are in the same country. I also feel the same way that the inflation rate is very high. However, if you have saved most of your savings in the form of BTC, not with me, I actually feel the current economic difficulties because I never saved a long time ago when I had assets in the form of BTC. But at least this is a valuable lesson for me to learn in the future and want to apply strategies like you.

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That's a cool topic, as prices in local currencies can be very different from the USD price, depending on a value, and someone owning 1 BTC can easily be a millionaire in local fiat in some countries. At its current price, Bitcoin is worth 2.6 million in my local fiat. While I always use local fiat for daily expenses or evaluating hypothetical prices of casual things, it's just hard to grasp the meaning of such big numbers like 2 million of something. So, in my country, it's actually common to switch to the USD for reference when it comes to something expensive (like Bitcoin, a flat, a car, etc.).

khiholangkang

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Quote from: Hamza2424 on April 03, 2024, 05:55:25 PM

Quote from: khiholangkang on March 04, 2024, 12:16:12 AM

Inflation in my country shows a big gap with the dollar, when bitcoin touches the price level of $64k, ATH 2021 has been touched by our country's currency which is IDR 980 million / rounded up 1M, while in 2021 the value of the Dollar equivalent to my country's Rupiah is approximately $69k to get the amount of 980 million / 1M. Here it is clear that for 2-3 years we have experienced much crazier inflation, with a difference of $5k. That's heartbreaking to me, and luckily I kept most of my savings in BTC, and today it's getting a much better price increase, and it's enough for me to spend a year with my family if I sell it.

I would like to ask if in your country BTC has reached the old ATH or even the new ATH at the current price if using your local currency?

Hmm, IDR is a very low-value currency I searched it on Google now and I came to know that it is much weaker than my country's currency although my country's currency is also weaker than Doller but IDR is much weaker now I do not know how much you can buy with 100 IDR but in my country, we can buy a burger and one bottle with it. This is apart well if Bitcoin touches an all-new time high again our country's investors will also make a good amount of profit from it as for the current value of 1 USDT our country's currency value is 285 rupee for now.

So obviously we are also going to enjoy a new all-time high which has already happened but the thing is kinda different in this bull season and the new all-time high will the much bigger than the previous one which many say it will be at the end of this year and many says it will be in the middle of 2025 and according to analysis it can be $150k so it is a very huge amount that a digital asset going to achieve and make us money that we can enjoy along our beloved one.

Yes, it is quite concerning that my local currency is far away and inflation is getting higher every year, and I feel very lucky to know bitcoin and also invest in it, it is inconceivable that indeed my country's currency is devalued very high, thanks to bitcoin I can sigh a little and can benefit from the increase in the price of bitcoin so far.

Rupees may be higher in value compared to rupiah but yes that's today, who knows in the future the fate will be the same, just like Turkey, Brazil and worse zimbabwe, from there we can accept the lesson that saving money from work is not recommended to be collected in FIAT currency because its value will decrease, instead if you save in bitcoin justuru the value of our money will increase, except for a few for monthly needs because after all we are still dependent on fiat currency to buy needs. Of course, if bitcoin can reach the price level of $150k I will feel happy and can buy what was difficult for me to buy before, including making my loved ones happy.

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Quote from: khiholangkang on March 04, 2024, 12:16:12 AM

Inflation in my country shows a big gap with the dollar, when bitcoin touches the price level of $64k, ATH 2021 has been touched by our country's currency which is IDR 980 million / rounded up 1M, while in 2021 the value of the Dollar equivalent to my country's Rupiah is approximately $69k to get the amount of 980 million / 1M. Here it is clear that for 2-3 years we have experienced much crazier inflation, with a difference of $5k. That's heartbreaking to me, and luckily I kept most of my savings in BTC, and today it's getting a much better price increase, and it's enough for me to spend a year with my family if I sell it.

I would like to ask if in your country BTC has reached the old ATH or even the new ATH at the current price if using your local currency?

Hmm, IDR is a very low-value currency I searched it on Google now and I came to know that it is much weaker than my country's currency although my country's currency is also weaker than Doller but IDR is much weaker now I do not know how much you can buy with 100 IDR but in my country, we can buy a burger and one bottle with it. This is apart well if Bitcoin touches an all-new time high again our country's investors will also make a good amount of profit from it as for the current value of 1 USDT our country's currency value is 285 rupee for now.

So obviously we are also going to enjoy a new all-time high which has already happened but the thing is kinda different in this bull season and the new all-time high will the much bigger than the previous one which many say it will be at the end of this year and many says it will be in the middle of 2025 and according to analysis it can be $150k so it is a very huge amount that a digital asset going to achieve and make us money that we can enjoy along our beloved one.

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This problem is occurring in most of the developing and underdeveloped countries. The value of the dollar with their local currency does not seem to match. As the value of the dollar increases, the value of their local currency seems to decrease. That is creating inflation. And their living has become very expensive due to inflation. That is, what they could have bought with full 1 dollar, but now they have to spend 3 dollars. So most of the people in these countries are now thinking of investing their currency money in Bitcoin and Dollar. They have realized that there is no point in keeping their money in their local bank.

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The currency value of our country is much lower than the dollar. With the increase in the price of bitcoin the value of the dollar has increased but the local currency of our country has not changed. Inflation is taking over everything with pandemic the economy has fallen so far that it will take a long time to recover. Bitcoin is showing record highs as the dollar rises in other countries.

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Quote from: Mrbluntzy on March 08, 2024, 06:44:42 PM

In my country, during the Bitcoin all time high of 2021, the value of our currency was higher than dollar but the difference was not that much, through out 2023 my local currency fall so badly and not that Bitcoin have reached a new all time high again, the price in my local currency is almost Xs3 of the past all time high.

Lucky you that you still were able to experience having your local currency higher than the dollar Grin

. Our currency has always been lower than the dollar. As someone coming from a third world country, our economy has never really seen better times ever since the pandemic. As far as I know, even before the pandemic the inflation was already relatively high but with the pandemic it just made it worse and now we never recovered.

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Quote from: xusxuquade on March 08, 2024, 06:35:45 PM

Indeed, in Indonesia, the price of Bitcoin has reached its new all-time high. As previously, the Bitcoin price had never touched the 1 billion rupiah per Bitcoin mark. However, currently, the Bitcoin price has surpassed 1 billion. Yes, due to the Indonesian rupiah's weak value against the dollar, the Bitcoin price has outpaced, achieving a new all-time high.

But the price could move again to increase higher or vice versa. It will only end here. Everything is determined after the halving period which will occur this month.
Everyone hopes that yesterday's ATH will not be the last ATH, but that there will be a renewable ATH which is still predicted to occur in 2025.
Indeed, weakening local money also contributes to an increase in the price of Bitcoin when it is appreciated, everything is clearly connected to each other.

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In my country, during the Bitcoin all time high of 2021, the value of our currency was higher than dollar but the difference was not that much, through out 2023 my local currency fall so badly and not that Bitcoin have reached a new all time high again, the price in my local currency is almost Xs3 of the past all time high.

xusxuquade

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Indeed, in Indonesia, the price of Bitcoin has reached its new all-time high. As previously, the Bitcoin price had never touched the 1 billion rupiah per Bitcoin mark. However, currently, the Bitcoin price has surpassed 1 billion. Yes, due to the Indonesian rupiah's weak value against the dollar, the Bitcoin price has outpaced, achieving a new all-time high.

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Im not surprised but its not spoken about enough that the majority of the world is living with this high level of depreciation in their currency value. Those close to Dollar or large trading partners may suffer less inflationary effects depending on their government and its ability to manage their country's trade balance and debt.

Its a large point I make regularly how round numbers in Dollar value traded BTC are not the significance that it appears. Even now this ATH price that exists and BTC price action is orbiting around, the years have passed and 2021 dollar is now eclipsed by 2024 dollar and the same number is a different value. The basic point stands we dont adjust for inflation on a standard graph and so the price points naturally change over time, hence moving averages can be more accurate to measure change over time and general momentum in adjustment to these inflationary pressures globally.

Meanwhile don't forget Dollar itself has inflation losses, when we say Euro is strong or whichever currency is discussed then we only mean in a relative way. We're all standing on the same sinking ship in terms of earning an honest living vs costs every year.

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Quote from: red4slash on March 08, 2024, 03:24:31 PM

Quote from: khiholangkang on March 06, 2024, 10:56:34 AM

@ndutndut @ red4slash etc.
I'm glad you guys realize it too and we are one of the people who take the right steps to save our money in Bitcoin, thus the value of the money we have does not decrease and on the contrary, the value we have increases. We will get ATH bitcoin before the halving, the halving calculation is still quite long in the next month or so, it might be enough for us to feel better in terms of finance for not keeping our money entirely in FIAT, be a smart store of value because bitcoin has a cycle or moments.

ATH has passed now and brought up a new ATH where bitcoin has broken the previous $70k price and of course this will make us more confident in what we are doing because after all we have done a very good thing by being in bitcoin and IMHO this is just the first step when we pass the previous ATH because no matter what with the current conditions and soon we will feel the Halving then I think the new ATH at $70k is just a start because eventually the increase will continue to occur and not the Halving.

ATH before because no matter what with the current conditions and soon we will feel the halving then I think the new ATH at $70k is just a start because in the end the increase will continue to occur and it is not impossible with the $100k price that has always been discussed in the previous few years we will definitely feel.

Although nothing is certain in this regard but I am pretty sure that sooner or later something like that will definitely happen.

Of course we are still quite far from the bitcoin Halving, and bitcoin has already run and touched $70k today, it is very extraordinary, and yes it is a new ATH, we are here looking forward to that it is nothing Halving is something that is very much awaited by BTC holders to see how much increase is appropriate for the Halving moment this time, $100k is a figure that is quite logical to be pursued by bitcoin for ATH halving this time, but we need a lot of fresh money to enter the market to boost the bitcoin price to touch that amount, not an easy matter and of course there needs to be a lot of popularity to make bitcoin even more dazzling as a promising asset in the future.

many expect Rp1.5 billion in our country during this halving.

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Quote from: khiholangkang on March 06, 2024, 10:56:34 AM

@ndutndut @ red4slash etc.
I'm glad you guys realize it too and we are one of the people who take the right steps to save our money in Bitcoin, thus the value of the money we have does not decrease and on the contrary, the value we have increases. We will get ATH bitcoin before the halving, the halving calculation is still quite long in the next month or so, it might be enough for us to feel better in terms of finance for not keeping our money entirely in FIAT, be a smart store of value because bitcoin has a cycle or moments.

ATH has passed now and brought up a new ATH where bitcoin has broken the previous $70k price and of course this will make us more confident in what we are doing because after all we have done a very good thing by being in bitcoin and IMHO this is just the first step when we pass the previous ATH because no matter what with the current conditions and soon we will feel the Halving then I think the new ATH at $70k is just a start because eventually the increase will continue to occur and not the Halving.

ATH before because no matter what with the current conditions and soon we will feel the halving then I think the new ATH at $70k is just a start because in the end the increase will continue to occur and it is not impossible with the $100k price that has always been discussed in the previous few years we will definitely feel.

Although nothing is certain in this regard but I am pretty sure that sooner or later something like that will definitely happen.

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Quote from: Fivestar4everMVP on March 05, 2024, 06:14:14 AM

Quote from: khiholangkang on March 04, 2024, 12:16:12 AM

I would like to ask if in your country BTC has reached the old ATH or even the new ATH at the current price if using your local currency?

Yes, here in Nigeria and using our local currency which is the naira, bitcoin has far gone above the previous all time high of 2021, and this also means that, we now have a new all time high of bitcoin in our local currency.

During the 2021 bull run when bitcoin made the all time high of $69,000, naira to a dollar was around #350 to #400, and back them bitcoin at $69,000 was around 20 million naira to 30 million naira, but today and right now as I type this comment, bitcoin is $66,700 and the worth in our local currency (naira) right now is 105 million naira, and this is because currently, naira to a dollar is currently around #1600 , this is x4 to x6 increase from the 2021 value of between #300 and #400 naira per dollar, this is to say that, in a space of 2 to 3 years, our local currency have lost x4 to x6 of its value against the US dollar and other fiat currencies like the British pounds and euro.

This is very disappointing and heart breaking to say the least, there is a lot of hunger and hardship in Nigeria this day, everything have more than tripled their prices from 2021 till today, this has indeed proven that saving money in fiat is one of the worst decisions anybody can make, most especially for those of us living in countries like Nigeria.

With how high the price of bitcoin is right now, a lot of the world has that right now, from Russia to China to India, which would be like half of the world right there anyway, or close to it. So Nigeria having it is not a news, because it is like that for many nations, soon enough I am sure it will be like that for every single nation. I think the trick here is that what have we gained from it? Because, if the purchasing power is the same then it doesn't mean you made a profit.

If you had 100 amount in your fiat that can buy X and now you have 150 which can still buy X, that means you didn't get any richer. So, the question here should be have you gotten any richer? If you have, then that's good, if you haven't then it doesn't mean anything.

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Quote from: tyz on March 05, 2024, 03:23:40 PM

Quote from: Haunebu on March 04, 2024, 11:53:11 AM

Forget about local currencies. BTC is about to reach a new ATH in USD since it's already closing in on 67 grand at the moment and is showing no signs of slowing down anytime soon.

In absolute terms, the dollar also reached a new ATH. However, if you look at the inflation of the USD since the last ATH, the actual ATH is still around 20-23% away, as the USD of three years ago was worth more than the USD today. Of course, I understand why so many people are celebrating this for symbolic reasons, but from a rational point of view it is not a new best mark if you consider the actual value.

yes if we look at the value side of course it has a difference but a more general benchmark is the same amount, that can be read in general and easily.

@ndutndut @ red4slash etc.
I'm glad you guys realize it too and we are one of the people who take the right steps to save our money in Bitcoin, thus the value of the money we have does not decrease and on the contrary, the value we have increases. We will get ATH bitcoin before the halving, the halving calculation is still quite long in the next month or so, it might be enough for us to feel better in terms of finance for not keeping our money entirely in FIAT, be a smart store of value because bitcoin has a cycle or moments.

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Quote from: khiholangkang on March 04, 2024, 12:16:12 AM

Inflation in my country shows a big gap with the dollar, when bitcoin touches the price level of $64k, ATH 2021 has been touched by our country's currency which is IDR 980 million / rounded up 1M, while in 2021 the value of the Dollar equivalent to my country's Rupiah is approximately $69k to get the amount of 980 million / 1M. Here it is clear that for 2-3 years we have experienced much crazier inflation, with a difference of $5k. That's heartbreaking to me, and luckily I kept most of my savings in BTC, and today it's getting a much better price increase, and it's enough for me to spend a year with my family if I sell it.

I would like to ask if in your country BTC has reached the old ATH or even the new ATH at the current price if using your local currency?

Well, it's very noticeable because we have seen in just a few years the difference in terms of the currency depreciation that has occurred to date which has made the situation of inflation clearly stronger.

For the problem of other countries maybe in this case we can take 2 benchmarks here because when looking at the current situation even though inflation is felt by almost all countries but in the end when the impact is felt and the differences that occur are likely to be felt only by countries that are developing and underdeveloped.

Indeed for currencies such as Yuan, Dollar or even Euro it is possible for them to feel that the difference is not too big and they do not think too much about the impact because they are aware that if they panic it becomes a bad gap because after all such weaknesses should not be shown so even if the impact of inflation is very pronounced they will definitely try to cover this up but for currencies whose countries are developing and even underdeveloped the inflation gap in recent years will definitely be felt and there could be countries whose gap is greater than Indonesia.

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Quote from: khiholangkang on March 04, 2024, 12:16:12 AM

Inflation in my country shows a big gap with the dollar, when bitcoin touches the price level of $64k, ATH 2021 has been touched by our country's currency which is IDR 980 million / rounded up 1M, while in 2021 the value of the Dollar equivalent to my country's Rupiah is approximately $69k to get the amount of 980 million / 1M. Here it is clear that for 2-3 years we have experienced much crazier inflation, with a difference of $5k. That's heartbreaking to me, and luckily I kept most of my savings in BTC, and today it's getting a much better price increase, and it's enough for me to spend a year with my family if I sell it.

I would like to ask if in your country BTC has reached the old ATH or even the new ATH at the current price if using your local currency?

Coincidentally, I also come from the same country as you. I didn't expect bitcoin to have created a new ATH in local money, but after reading your thread I realized that inflation is indeed very high in our country. From this thread I can draw the conclusion that saving money in bitcoin is much better than fiat. The loss of fiat value due to inflation is very noticeable.

by the way. Btc seems to be delaying to reach a new ATH in terms of dollars, today the highest price of bitcoin is $69000 even though there is only a little left to reach a new ATH but it seems not yet time. Now the price of bitcoin has experienced a correction of -6% so that the price of bitcoin has returned to $62k. But I'm sure in the next few weeks we will see a new ATH not in local money. Trust me Wink

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Quote from: Haunebu on March 04, 2024, 11:53:11 AM

Forget about local currencies. BTC is about to reach a new ATH in USD since it's already closing in on 67 grand at the moment and is showing no signs of slowing down anytime soon.

In absolute terms, the dollar also reached a new ATH. However, if you look at the inflation of the USD since the last ATH, the actual ATH is still around 20-23% away, as the USD of three years ago was worth more than the USD today. Of course, I understand why so many people are celebrating this for symbolic reasons, but from a rational point of view it is not a new best mark if you consider the actual value.

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Quote from: Natsuu on March 04, 2024, 08:04:06 AM

Quote from: letteredhub on March 04, 2024, 01:16:50 AM

As crazy as the difference in amount between these local currencies of some countries and the dollar it is becoming an increasingly necessary evil for citizens of these countries to whom their currency is repleting in value by the hit of inflation to find a hedge to keep value on with their money by either holding it in dollar or investing in bitcoin which in the long run create extra value for them.
And I think the falling value of the currencies of these countries has also become one of the propeller drive among youths of these countries particularly of the African continent to increasingly adopt bitcoin because of the profit it profers to it long term holders.

People in countries dealing with crazy inflation are kinda forced to play a money-saving game. They stash their cash in dollars or even better Bitcoin. It's like a survival tactic to keep their money from losing value. It's not just about making money because it's a rebellion against traditional currencies going down the drain. Bitcoin is like their superhero, promising better days for those who HODL. It's a wild ride and everyone's trying to secure their bag in the crypto world

The repercussion about this stashing of money in foreign currency is that it's all fall back to the local currency losing more value in the pegging against the other foreign currency like the euro or dollar thereby leading to consistent increase in the price of goods and services in that country , worse is when such a country is of a consumption economic then a producing one. In all don't blame the citizens as it's expedient they have to find a way out for themselves under such situation.

Topic: BTC ATH in local currency (Read 553 times)