The price has had a rough few months. With no end in sight, it is still stuck between $19,000 and $24,000. Bear markets will put your faith to the test. People new to it may believe that the economic pain is too great and wish to withdraw to minimize their losses. Others will look at the price of bitcoin and decide not to buy.

The skilled HODLer will see this as a fantastic chance to purchase as much bitcoin as possible because they comprehend that it is vastly undervalued.

In the short term, exchanging your bitcoin for dollars may appear to be a good idea, as the Federal Reserve continues to increase interest rates to fight inflation.

Which option appears to be a better value for you and your family? Is it better to own an asset that will multiply 100 times in the next few decades or one that will lose close to 100% of its worth by design?

How Long Will It Take For The Dollar To Collapse?

Nobody knows how long the United States dollar will be the world's reserve currency, but one thing is certain: the dollar's days are numbered. Politicians on both sides of the aisle took advantage of the United States' unique role in the global economic system to print the money that every country used for trade. 

Rather than being good fiscal stewards, politicians were using the dollar's status as the world reserve currency to incur unsustainably high debts that would never be repaid. Entitlements like Social Security and Medicare are major contributors to our ballooning national debt, which will only worsen as the baby boomers age. These programs exist solely because the US dollar is the world's reserve currency.

The US has a staggering debt-to-GDP ratio of 127%. This level of debt cannot be sustained indefinitely. When you factor in higher rates of interest on short-term loans that the government will have to roll over, you can see how dire our situation is.

The government's only alternative is to re-kick the can down the road and turn on the printing press once more. What happens when the money printer fires up with inflation at a 40-year high? Inflationary pressures are rising.

The United States is in the early stages of a debt spiral that will eventually render the dollar as worthless as other fiat currencies have been in the past. It may take five, ten, or fifteen years for people to lose faith in the dollar, but it is happening and will reach a tipping point during our lifetime.

Because they are afraid of being voted out of office, the Democratic and Republican parties are unwilling to unwind entitlement programs driving the debt before destroying the government's balance sheet.

Save Yourself While You Still Have The Chance

This bear market could be the last opportunity to accumulate a significant amount of bitcoin before the masses notice something is wrong and rush for the lifeboat. If you have spare cash, investing some of it in bitcoin will ensure that your wealth is safe when the shit hits the fan. The most important thing for anyone new to Bitcoin is to learn about its core value proposition.

Bitcoin brings order to a chaotic world and will empower people to make positive changes for humanity. So, before exchanging your bitcoin for dollars, consider what you're giving up in exchange. 

What could happen if you sell your bitcoin at the wrong time? Let us know your thoughts by sharing this article online.

Nov 1, 2022
Digital Lifestyle

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