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.

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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.

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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.

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

~snip~
Another great thing here is that the fees haven't surged to crazy levels like last year and are in a reasonable range currently. Hyped!

Fees are not at crazy levels because the "ordinal spammers" have calmed down a bit, but still for some it is still a lot to pay between $3-$5 right now, especially if it is about microtransactions. However, considering the fees we had not so long ago, this does not look so bad today considering how the price of BTC is growing. The number of transactions in mempool ranges between 140 000 and 150 000, which is not a lot considering the situation.

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Quote from: Casdinyard on March 04, 2024, 11:57:11 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?

If I'm not mistaken bitcoin's already went past the All Time High from 2021 by a couple thousand pesos give and take, and while that is a great thing for the average joe I don't really take it as something that I should be proud of cause that just means my country's fiat's gone to the shitbox once again, this time in a deeper level than it was back then.

Although I don't think we should really concern ourselves about bitcoin's price in local currency, the current global standard is the US Dollar and it's worked well so far in providing us with a pretty comprehensive insight as to how much bitcoin's gone up in the past. I think that's all the comparison we're going to need lol.

Yeah I think it did get past the last ATH though, but me, I really don't care how bitcoin was priced with our local currency, because just like you said, the country's fiat is one of the worst in the world.
The people I know around here usually doesn't prefer to view bitcoin priced at our local currency, including me. We get used to look at bitcoin at the global standard in USD form and yeah it does give us a better insight when comparing bitcoin data currently against the past.

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Quote from: Captain Corporate on March 04, 2024, 01:13:06 PM

Honestly, at this point we are very very near at ATH for dollar as well, doubt there will be any currency left that won't be ATH very soon. Its awesome to see it breaking over ATH again, its been so long since we were her last time, I think it was October 2021 last time we were there, considering we are at march of 2024 right now that would mean 28 or so months since the last time we were at these prices. Waiting for it to bounce back, see the bottom, all the crashes, all the bad news and we are finally here, we are finally getting rid of everything like that. Its really a great situation to see the price reaching these highs because we really missed it and after waiting for this long, we really deserve it too.

Bitcoin price hits $68685 in Binance Bitcoin didn't hit ATH by just a few dollars but I can now say that all local currencies in the world have now crossed Bitcoin's previous ATH. Bitcoin's every 4-year sarcoid worked again. Now this circle can be fully trusted. It's really nice to see Bitcoin at a new price. All potential coins in the market are now increasing in price, including Bitcoin. The crypto market is booming again

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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.

This has been the case for a really long time, probably since WW2 when the US became the dominant world economy. And it will still be the case for a long time because the US economy is both the biggest and quite resilient and quite open and no other economy is doing all of that at once.

Bitcoin can't realistically replace US dollar because its volatility means it's actually a bad store of value and it's rather an investment. A good store of value is never losing its value and Bitcoin always has ups and downs.

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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.

Although I have never personally experienced the experience of Bitcoin reaching its last ATH which occurred several years ago, I noticed that Bitcoin is very different when used as a store of value asset.
My observation is that savings made in the form of Bitcoin will be very good even though the price fluctuates.

When it was at $64k, at the current exchange rate with our local currency, then we had already reached the previous ATH, let alone the price of $67k that Bitcoin reached today. Really Bitcoin investors are already celebrating.
However, I don't want to overdo it in comparing the value of the local currency between our country and other countries because the actual situation must be acknowledged.

I want to say that someone's savings situation is different. I don't have much savings because I still live alone. From this experience a conclusion can be drawn that saving savings in the form of fiat money is not a good action.

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That's the beauty of BTC, it is a hedge against inflation, if you have saved your funds in US or local form, the inflation would have eroded your fund's value but due to the nature of BTC, you did not even save yourself from loss but made enough profit that you can live for whole 1 year considering no medical or emergency situation faced. I am happy for your profits and hope you earn more.

And talking about local level comparison with BTC price I would say my local currency is converted into USDT or any pegged currency and then is converted to BTC. So, it means, due to inflation and devaluation of our local currency we are making a profit from two assets, one is USDT and the second is BTC. In my local currency, BTC has made its ATH and I believe if it is making ATH in the local currency of US country then it is making ATH in most of the countries that have US dollars in reserves.

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Honestly, at this point we are very very near at ATH for dollar as well, doubt there will be any currency left that won't be ATH very soon. Its awesome to see it breaking over ATH again, its been so long since we were her last time, I think it was October 2021 last time we were there, considering we are at march of 2024 right now that would mean 28 or so months since the last time we were at these prices. Waiting for it to bounce back, see the bottom, all the crashes, all the bad news and we are finally here, we are finally getting rid of everything like that. Its really a great situation to see the price reaching these highs because we really missed it and after waiting for this long, we really deserve it too.

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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?

In the Philippines, you could buy a house and lot FULLY PAID with 65k and possibly still have some change left. And that is because we're living in a third-world country where prices are generally still lower when compared against same products from other countries. Of course, this also means that our money's got shit purchasing power against other countries' but in the preface of spending less money everywhere else, I think this works a lot well. Going back to your question, and don't quote me on this, If I'm not mistaken bitcoin's already went past the All Time High from 2021 by a couple thousand pesos give and take, and while that is a great thing for the average joe I don't really take it as something that I should be proud of cause that just means my country's fiat's gone to the shitbox once again, this time in a deeper level than it was back then.

Although I don't think we should really concern ourselves about bitcoin's price in local currency, the current global standard is the US Dollar and it's worked well so far in providing us with a pretty comprehensive insight as to how much bitcoin's gone up in the past. I think that's all the comparison we're going to need lol.

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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.

Another great thing here is that the fees haven't surged to crazy levels like last year and are in a reasonable range currently. Hyped!

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I know that the current Bitcoin ATH stands at slightly over $69k and until it crosses that I will continue to maintain it hasn't formed a new ATH. Those who are judging it based on fiat equivalent of their local currencies and espousing that it has done a new ATH got me confused initially until I checked coin site to find out Bitcoin hadn't got to its ATH yet. Expectedly, price will get there before next week.

We're all excited, and understandably so. We stayed in the trenches for this a long time and some of us became laughing stocks to our peers and relatives who would jeer at us and make remarks whenever price dipped. Now, some of them are coming back and asking for help on how to invest in it. I've seen this scenario play out in previous circles and I know for certain it will reoccur in this circle too. These people buying on FOMO will definitely be trapped because they're going to buy the top.

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In Brazil we have very high inflation, but our currency gain a lot of value in recent years.

USDBRL in 2021 used to be 5.80, and now it is 4.95. So, our last BTCBRL ATH was about 380,000 BRL, and now we are in range of 325,000 BRL (still a bit far from ATH).

I would say that inflation is not the main factor that will drive the ATH price in local currency, the actually the local currency against USD price. Which can vary a lot!

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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?

I look at the price of the current BTC ATH in my local currency and shake my head, it runs into millions of Naira. Inflation has been one major issue affecting our local currency, however the price of the dollar and our local currency has been on serious loggerhead as the price of the dollar keeps going high against the local currency, and our local currency keeps doing the catch up game. Just as you've said OP, the only way out is to save in BTC, because the rate at which our local fiat is losing it grip its so alarming.

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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

GreenStox

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Well, I saw the news on several social media, they said Bitcoin's ath against local currency had been passed from the last year in 2021.
it indicates weakness of fiat against the usd currency, and against bitcoin.
Currently even though Bitcoin hasn't reached 69k$ but everyone is very happy, yes that's because the exchange rate against their currency is rising, even though in reality it's bad news because their currency is dropping very drastically.

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In my country, BTC has already reached the new ATH at the current price, and it can be said that it has far exceeded it due to the great inflation that occurred in my country during the last period, and the national currency has almost lost its value.

I also kept my savings in Bitcoin and was impatiently waiting for this moment, but unfortunately I had no luck and lost my savings and lost a great opportunity to live this joy that I was waiting for.

Anyway, I am not sad and I believe that I will get a better opportunity in the near future.

Kelward

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This will be my first halving and ATH experience in Bitcoin investment, and without making comparison with the last ATH, I'll say that so far leading to this bull season and eventually ATH, it has been a very big eye opener for me. My country's currency is devaluing everyday, and people that are keeping their money in banks are running at great lose, because the value is decreasing everyday, but it's the opposite for a person like me that's hodling Bitcoin, I'm not affected by the devaluation of naira, as Bitcoin is pumping, it's value in naira is also increasing. By the time we reach Bitcoin ATH, it won't matter whether our local fiat keeps devaluing or hopefully it starts to appreciate, it won't affect my personal finance, because the value of my money will greatly increase.

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I compared the value of our local currency to USD during the last ATH of Bitcoin, and the equivalent in USD to our local currency increased by 11.98%. So, in my country, the situation is somewhat similar. The local currency has experienced inflation, and when Bitcoin reached its ATH in USD, it also led to a substantial increase in our currency. The comparison over the years shows a significant gap, highlighting the challenges of inflation. I'm glad that I wisely chose to keep most of my savings in BTC. This serves as evidence of the potential benefits of decentralized and borderless assets like Bitcoin in preserving wealth amid economic uncertainties.

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Yes bitcoin has reached its ATH in my country. The Naira is a weak and failing currency. As you may have heard my country's president held some binance executive hostage because they claim binance and bitcoin are the cause of the weak currency. Irrespective of this we the citizens have move mostly of our wealth to bitcoin to save it from dwindling.

See a comparison between bitcoin price one year ago and today.

Source: https://www.coinbase.com/converter/btc/ngn

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

~snip~
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?

Honestly, I don't worry too much about it, because the last ATH was around $69 000 and when the price of 1 BTC is above that, I will consider that we have reached a new ATH. What I know is that compared to, say, 2019, I can buy much less for the same amount of money today - so even though various "experts & statisticians" talk about the fact that inflation was actually between 10% and 20% in the eurozone and that the inflation rate is actually falling, most the prices of products that I regularly buy have increased by 30% and even more than 100%.

Fortunately, we who believe in Bitcoin can consider ourselves lucky because we not only preserved the value of our money, but also created additional value that exceeds inflation. When I look at these geniuses who invest hundreds of millions of euros in government bonds and treasury bills (a financial discovery in my country Roll Eyes

) and they are happy because of the interest, which is between 3-4% per year - I wonder what would happen if they earned 100% in 1 year?

BD Technical

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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 is not unusual in your country Bitcoin currency currency is legal in your country so it has difference or price rise and fall with your country currency but in our country or in Bangladesh there are many countries like Bangladesh which a little currency is not legal. If all those countries are like your country, the H currency will not be like that, because if Bangladesh is legal like this, there will be more moral oppression and oppression in our country. Moreover, the rate at which the price of Bitcoin is currently increasing is good for the currency or the global market. Scarcity will spread because the price of Bits is increasing day by day at the rate I saw today, it is natural that you can see your dollar or your country's currency increase in value. But with Bitcoin, the value of our dollar in Bangladesh is increasing day by day, our value is going to the world today.

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Quote from: HeRetiK on March 04, 2024, 03:57:07 AM

About that... Cheesy

It's weird to see Bitcoin still quite a step from the USD ATH while just having broken the previous EUR ATH. I remember a similar situation back during the last bullrun. Kinda nice to be able to celebrate a local ATH slightly sooner, kinda sobering to see how our local currency lost value compared to the USD (even though the EUR is a relatively stable one).

Timing, th euro was 1.13 in 2019 1.19 in 2021, 1.10 in 2022, although for 5 years the difference is 4% it has fluctuated enough during those to acocutn for a 10-15% gap.

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.

Do that in bags of rice, not usd not inr, then you're going to see the actual value! Wink

But nothing compares to this anyhow:

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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?

Nice question op. Science price has not crossed the previous ATH till now but it will do so soon but already it has crossed the previous ATH as the local currency of various countries.
https://www.imf.org/external/datamapper/PCPIPCH@WEO/WEOWORLD/VEN
From here the information is found that in almost most countries of the world the inflection happened in 2023 very high quality. So in that case I think almost every country has Bitcoin price past the previous ATH in local currency. Except for countries where USD /EUR is used as local currency.

0t3p0t

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Quote from: bangjoe on March 04, 2024, 03:31:51 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?

Thank you for revealing it, I didn't realize that indeed bitcoin had passed ATH with our country's currency, it turns out that if we take into account we have worse inflation than the dollar against bitcoin, which means maybe our country has more money in circulation so that inflation occurs, or whatever it is I don't really understand, but certainly the difference in the price of the dollar in 2021 and today as measured by bitcoin's ATH has a considerable difference.

Thus why FIAT is very dangerous to store wealth, they are wolves in sheep's clothing that eat the fruits of our hard work every year.

My local fiat currency is currently losing it's value so it's not safe and not worth the "save" thing but if I hodl USDT it is better but with Bitcoin holdings I think it is the best way to store my investment so inflation can be prevented and this is what I am doing just a few months ago. I have learned the lessons from the past and I don't want to be one of the victim of inflation once again.

But with OP's question if BTC reaches ATH in my local currency yes it does and the price difference is $1,250. This is based on 2021 ATH and todays price of Bitcoin although we still don't pass the Bitcoin's ATH in dollars but yeah inflation at it's finest.

AirtelBuzz

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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?

Taka is the local currency of the country where I live. Earlier in 2021, the highest price of bitcoin was 69 thousand dollars then the price of dollar in our country's local currency was like 85 taka but now it has increased to 127 Taka. As a result the price of Bitcoin in our country's local currency has increased significantly, despite the fact that the price of Bitcoin was lower than its previous ATH.

Currently, the value of 1BTC in our country's money is 7,160,973.23 ৳ (Local Bangladeshi Currency)

Bitcoin hit a new all-time high in 14 of the G20 nations.

Twitter (X)

BABY SHOES

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Current Bitcoin price =

Local Indonesian currency.

This is due to the influence of high fiat inflation so in USDT it has not touched ATH while in some countries it has touched it for bitcoin but I am happy with this news because we are a little comparing how inflation continues to increase.

At least never put all your money in fiat because in a few years it will definitely decrease in value, bitcoin as the longest asset and the possibility continues to rise.
Don't ever forget about bitcoin.

Jawhead999

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Good for you, this is why we need to hold Bitcoin.

There are only four good investments to hedge against inflation e.g. Bitcoin, real estate, precious metals and stocks in strong economy countries. If you didn't have one of them, you're in loss.

Quote from: bangjoe on March 04, 2024, 03:31:51 AM

Thus why FIAT is very dangerous to store wealth, they are wolves in sheep's clothing that eat the fruits of our hard work every year.

Probably not very dangerous, the most dangerous is still shitcoins.

At least they're not surprised if their money's value went lose 10-30% after few years, while shitcoins you could lose 100% of the money you invested for short time.

HeRetiK

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Quote from: Porfirii on March 04, 2024, 01:14:26 AM

Not in my country. EUR is a strong currency (it would've been different if we kept the ancient, non-compatitive "peseta" in Spain). But I'm glad to see that BTC, despite the volatility, is a real alternative to keep purchase power in countries where the national currency is losing value. I knew about cases in Latam but I'm happy to see that it is helping in Indonesia too.

About that... Cheesy

It's weird to see Bitcoin still quite a step from the USD ATH while just having broken the previous EUR ATH. I remember a similar situation back during the last bullrun. Kinda nice to be able to celebrate a local ATH slightly sooner, kinda sobering to see how our local currency lost value compared to the USD (even though the EUR is a relatively stable one).

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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?

Thank you for revealing it, I didn't realize that indeed bitcoin had passed ATH with our country's currency, it turns out that if we take into account we have worse inflation than the dollar against bitcoin, which means maybe our country has more money in circulation so that inflation occurs, or whatever it is I don't really understand, but certainly the difference in the price of the dollar in 2021 and today as measured by bitcoin's ATH has a considerable difference.

Thus why FIAT is very dangerous to store wealth, they are wolves in sheep's clothing that eat the fruits of our hard work every year.

Z_MBFM

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Quote from: leonair on March 04, 2024, 01:23:46 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?

Against the dollar, Bitcoin price is almost on the way to surpass the previous ATH and there is only a gap of 4-5 thousand dollars. On the other hand there has been a huge inflection of FIAT money in most of the countries so I think Bitcoin's ATH has been crossed in most of the countries as per the current Bitcoin price. If I want to talk about my country here also BTC crossed the previous ATH in terms of FIAT money

I am a citizen of Bangladesh, the inflation of my country's money has been very high. During the last ATH, the price of 1 dollar was 80-82 Bangladeshi Taka. And at present it has become 125-127 taka. Which is about 57-58% inflation. Bitcoin price today is $63k and it went up to 64k which is about $100k in my country according to inflexon. So in my country's currency Bitcoin hit the pre-ATH venge at $100k. Haha it's really sad to see these that if I had held onto the bitcoins since then I would have got HUGE returns. and the longer you hold Bitcoin, the higher the return will be. this is a huge advantage of Bitcoin holding

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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?

Against the dollar, Bitcoin price is almost on the way to surpass the previous ATH and there is only a gap of 4-5 thousand dollars. On the other hand there has been a huge inflection of FIAT money in most of the countries so I think Bitcoin's ATH has been crossed in most of the countries as per the current Bitcoin price. If I want to talk about my country here also BTC crossed the previous ATH in terms of FIAT money

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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.

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Not in my country. EUR is a strong currency (it would've been different if we kept the ancient, non-compatitive "peseta" in Spain). But I'm glad to see that BTC, despite the volatility, is a real alternative to keep purchase power in countries where the national currency is losing value. I knew about cases in Latam but I'm happy to see that it is helping in Indonesia too.

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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?

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