In an interview with Riccardo spaghetti Tech Central, Monero’s core developer, he talked about the recovery and volatility of Bitcoin’s bear market. He also explained the use of bitcoin.
Riccardo spaghetti: “the trend in Bitcoin is changing.”
Riccardo says that the crypto currency market shows signs of recovery, taking into account that the area is much more compressed compared to the recovery time of Nasdaq. According to Riccardo, Bitcoin decided to return to $ 1,200 in December 2013, which lasted three and a half years. Riccardo spaghetti says::
It was a very good time and the previous movements were much faster. You know, some of them are two months. I mean, you know, it was like the longest bear market we’ve ever had in three and a half years, and I think these times are what the movement is changing, and that’s why it’s going to take longer.
However, every four years, the developer says, the reduction of BTC’s block award by half is a factor that is not available in the stock market. He adds that the change in bitcoin’s supply is “really interesting”, because even if demand is reduced, the decline in supply will have an impact.
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Monero developer: “the general market will be printing up.”
Riccardo spaghetti says::
You have caught this decline in supply and you know it even if it remains static, even if it makes people go away. I won’t sell my money. I’il look at them because of the HODL mentality. And if Krypto holds their money and they don’t sell it, then basically it only reduces the active supply further.
Accordingly, he notes that there is a continuous “hammer” on new supply and existing supply and that there will be steady movement and upward pressure on the general market, regardless of whether the demand remains stable or increases.
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“Bitcoin price does not have wild fluctuations.”
He followed the speech about Riccardo’s adoption of Bitcoin as a trading tool. As traders begin to close the gap through arbitrage trade, the market will see “some stability” and this may take place between 5 and 15 years. Riccardo adds::
I think we’re going through something like five to 15 years. The relatively stable price of bitcoin does not have these wild fluctuations as the anger of a young man.
The price of bitcoin could not determine its direction.
“Bitcoin will be much stronger than he is now.”
Riccardo adds that Bitcoin will be a real alternative to fiat currency when buying a cup of coffee over the next 10-15 years. Riccardo says on the subject::
But as a solution option, I think it’s very different. So you know I can buy and import stocks from abroad, and I have to pay suppliers. My suppliers don’t care much about volatility because volatility tends to happen on you, because you know a few days. So, if I paid them and returned from Bitcoin to the local fiat currency immediately, these differences would cause Bitcoin to be a carrier for this deal.
He continues to say that after bitcoin has been used to pay salaries, rent and taxes, there will be a much stronger amount of money than it is now. According to Riccardo, this can help find the price of the currency.