Too much falls in the dollar, can Bitcoin replace it? Bitcoin price today

 In the European market on Tuesday (12th), most of the cryptocurrency prices fell, of which Bitcoin fell below the $20,000 mark again. However, Rockefeller International CEO Ruchir Sharma said that as confidence in the U.S. dollar wanes, Bitcoin will become one of the alternatives to the U.S. dolla.In an interview with Coindesk, Ruchir Sharma called Bitcoin like the Amazon of the dot-com bubble, when Amazon fell by 90%, but rose more than 300 times in the following 20 years.

However, for the short-term trend, he pointed out that Bitcoin may continue to be volatile in the coming months. "Bitcoin and cryptocurrencies cannot yet be considered to have bottomed," he said. "The bear market environment in the U.S. is dragging down risk appetite around the world..." However, Ruchir Sharma believes that while the U.S. dollar remains the most powerful reserve currency in the world, confidence in the U.S. dollar is fading significantly due to massive money printing, and Bitcoin could become an attractive alternative to the U.S. dollar. He said, “You can’t continue to rely on the dollar. You need another currency with a certain transaction demand and a more stable value. Hopefully in three to five years, Bitcoin will be a more stable asset.” However, he also pointed out that there are too many speculative components in Bitcoin at present, and this part of the bubble needs to be cleared before Bitcoin can become a stable asset.

 cryptocurrency index shows that as of 17:08 Beijing time (05:08 a.m. ET), the price of bitcoin fell 3.62% to $19,788.5 within 24 hours.

Meanwhile, Ripple fell 3.63% to $0.31327; Ethereum fell 6.54% to $1,067.86; Dogecoin fell 5.55% to $0.061456. Binance Coin was down 3.04% at $223.50.