As the leading cryptocurrency struggles to close above $60,000, altcoins find new opportunities. The excitement of the November 2024 elections has driven Bitcoin‘s rise after narrowly missing Trump. For now, maintaining $60,200 could open doors for new attempts in the coming hours.
Deflation and Bitcoin
The Fed‘s monetary policy since early 2022 has caused various investor concerns. Major institutions, predicting a recession, reduced their workforce and later feared deflation. Jeff Booth, author of “The Price of Tomorrow,” believes Bitcoin (BTC) is the only force following the natural state of the free market.
In his interview with Natalie Brunell, he discussed how technology should lower the prices of goods and services, leading to a deflationary world. According to him, Bitcoin is the only asset that can create a system based on abundance, changing the rules of the game.
“I see Bitcoin very differently from most people… The natural state of the free market is deflation, and technology will make this deflation happen much faster – at an exponential rate – and this deflation should not be feared because what flows to us as efficiency is living in abundance and being able to do whatever we want…
Anything stopping this is not the economic system, not the political system, but a control system that derives its power from stealing from you… Once you understand this is true, everything else in the current system is stealing from you as a derivative.”
Constant Decline Against BTC
In other words, Booth envisions a world where Bitcoin (BTC) continuously rises, eliminating inflation across all pairs.
“So Bitcoin stands as the only thing I’ve found that can protect you from this. It is not a coin. It is a protocol limited by energy. It is an open, decentralized, and secure protocol limited by energy. It doesn’t care if you want to price it through currency or manipulated pieces of paper. It doesn’t care, it just keeps moving forward.
Therefore, according to Bitcoin, all prices are falling and will continue to fall forever because it is the only free market force, and everything else tied to the other system is not. It is a control system.”
