Amazing what a constant measuring stick can highlight!
BTC still well off it's AUD$ ATH of $174k yet other markets like Turkey and America are each banging new fiat "highs"
The disparity really highlights how fast the USD is debasing, and how important a constant measure like Bitcoin is for measuring the relative debasement that occurs globally
So true. It's like a barometer on every fiat currency. Plus also shows the supply/demand for specific currencies in any one day. FX is a huge huge market that ebbs and flows on a multitude of factors, not just the money printing
I wouldn’t exactly say bitcoin is wat off its aud high. It’s like 4-5%, not 30%
Yeah, I was posting the same, in Switzerland it's still almost 15% off ATH from 6 months ago, people celebrate the fall of their fiat, now it's just a matter of who fall faster.
Isn’t this just caused by a weaker / changing AUDUSD exchange rate? Agree USD is debasing but not sure that’s the whole story.
The "why's" of the strength of the AUD against the USD, or the weakening of the USD against the AUD (and most others) is (imo) a pointless discussion as neither of those two are fixed units .. they're both currently debasing so there's no way to comparatively measure one to the other over time.
With bitcoin however, same set of units, transparent, visible and verifiable
