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Bitcoin And Orange Prices Have Increased About Equally Since 2020

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Bitcoin And Orange Prices Have Increased About Equally Since 2020

(CTN News) – Don’t pay attention to the correlation between bitcoins and stocks on a weekly basis. A strong correlation exists between the price of oranges and the price of bitcoins every year.

There is no doubt that bitcoin’s master thesis is one of the most appealing aspects of the cryptocurrency.

Since 2020, the price of oranges has been on the rise, and this August, the commodities futures markets are expecting a surge in the price.

In the meantime, orange juice futures are hitting record highs at the same time:

A three-year analysis of orange prices and bitcoin prices

There is no clear answer for the market as to whether price will surge in August. It is important to note that data from the IMF, derived from the Fed, shows orange prices have spiraled out of control since January 2020, similar to the Bitcoin USD price.

In theory, the correlation between the BTCUSD price and orange prices, and the orange juice futures, is what bitcoin’s supporters hoped for if their cryptocurrency project succeeded. They have now been able to empirically validate their theory.

The orange comparison seems so legally accurate after the SEC vs. Ripple battle that one could imagine Satoshi Nakamoto (who designed the bitcoin logo) had read up on U.S. securities law before launching the bitcoin project in the first place.

It is yet another testament to the consummate professionalism of the entire BTC project from beginning to end, that’s for sure.

Aren’t you glad that there is an inflation shelter?

It is estimated that global orange prices have increased by over 180% since January 2020. Aside from that, BTC has gone on a major climb of about 230% since January 2020, when it was trading at $9,000 levels.

It is because the dollar’s inflation is also BTC’s price rally, which is a consequence of what is happening to the price of consumer goods.

Whenever the Fed drops its interest rate, dollars become less valuable, whereas becomes more valuable.

Compared to January 2020, a dollar earned now will be able to buy half the number of oranges it used to. It is true that bitcoins have kept up with inflation quite well, but one saved on the blockchain has grown even faster.

When it was earned, it could buy fewer oranges than it could buy today when it was earned. Bitcoin’s die-hard supporters say it is an inflation-shield for your earnings, which is why it is referred to as a digital currency.

SEE ALSO:

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