President Nixon in 1971 ended the practice of allowing foreign governments to exchange US dollars for US gold.(End of Gold Standard)
So far, US Dollar tries to survive, but it fails anytime because we are in Bearish grand super cycle, after gold standard ended.
As a little example, we see how gold compensate in the opposite direction of DXY!
But the real deal is that all the fiat currencies and precious metals are losing the ground to Bitcoin. The main reason for that is not the intrinsic value of Bitcoin, but is that Bitcoin offers cheaper transactions..! Which is the main purpose of inventing currencies in the first place!
Moshkelgosha
So far, US Dollar tries to survive, but it fails anytime because we are in Bearish grand super cycle, after gold standard ended.
As a little example, we see how gold compensate in the opposite direction of DXY!
But the real deal is that all the fiat currencies and precious metals are losing the ground to Bitcoin. The main reason for that is not the intrinsic value of Bitcoin, but is that Bitcoin offers cheaper transactions..! Which is the main purpose of inventing currencies in the first place!
Moshkelgosha
