- Cameron Winklevoss has been using Twitter to spread the knowledge of Bitcoin to the critics who have been commenting on Bitcoin’s future bull run.
- Winklevoss has tried to clarify all the misconceptions of the Bitcoin opposers.
- He said that if people do not understand the investment dynamics of Bitcoin, then they too do not understand what is happening to the US dollar.
Cameron Winklevoss has been using Twitter to spread the knowledge of Bitcoin to the critics who have been commenting on Bitcoin’s future bull run. In his recent tweet, Winklevoss has tried to clarify all the misconceptions of the Bitcoin opposers.
If you don't understand Bitcoin as an investment, what you are really demonstrating is that you don't understand what's happening to the U.S. dollar.
— Cameron Winklevoss (@winklevoss) June 29, 2020
Winklevoss’ Approach towards Bitcoin Critics
In his tweet, he has said that if people do not understand the investment dynamics of Bitcoin, then whatever they are trying to portray is an implication that they, too, do not understand what is happening to the US fiat currency. Cameron Winklevoss and Tyler Winklevoss are Bitcoin pioneers and are the founders of the Gemini exchange. In short, this was Winklevoss’s way of denying that the current deterioration in Bitcoin’s price could help it get ready for another bull run.
US Dollar Index sets off with a bad start in the week
This week hasn’t been great for the US Dollar Index (DXY) because it fell by more than 0.40 percent to record the day’s lowest of 97.11. The US Dollar Index (DXY) is a comparative reference of the US Dollar concerning certain currencies. When the DXY increases, this simply means that the US Dollar is becoming strong as compared to the other currencies. And similarly, if the DXY is going down, it means that the US dollar is going weak against other currencies.
Dan Tapiero, the co-founder Gold Bullion International has suggested there could potentially be a massive drop in US Dollar against the Euro. According to Tapiero, there could be a bullish market ahead for both Bitcoin and Gold. With a decrease in Dollar’s value, the value of the assets mentioned above often increases. However, Tapiero’s views are just predictions.
Inflation Vs. Deflation: Deflation more likely
The technical analyst of the Julius Baer Group, Mensur Pocinci, believes that US fiat may be gearing up for another cycle after five years of persistent flat performance. The US Dollar has been flat since the first quarter of 2015. Despite making efforts to give rise to a new trend in which it eventually failed. However, there’s a possibility that it might be ready for a new trend after five years of flat performance.