Topic: Increased demand for the bitcoin in developing countries (Read 197 times)
Well Venezuela is a great example with a significantly big sample size and we've all seen how crypto is doing there.
Pretty sure that there is real demand for a truly international currency that anyone with an internet connection can access.
That part I wholeheartedly agree with, otherwise I wouldn't be here.
Whenever there is large-scale economic distress or uncertainty, the price of bitcoin has the tendency to rally.
That assumption is still largely unproven. For the most part we've been in a bull market since Bitcoin's inception, we have yet to see how crypto will fare in a time of economic crisis.
I would take claims of people in rattled local economies flocking to Bitcoin with an enormous grain of salt. Even if we could reliably say that there's an actual rush to Bitcoin as a store of value in developing countries, it would still be wild speculation to extrapolate its effect on the global economy from there.
Whenever there is large-scale economic distress or uncertainty, the price of bitcoin has the tendency to rally. Pretty sure that there is real demand for a truly international currency that anyone with an internet connection can access. And not only in developing countries... Do you agree?
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