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Financial Experts Claim Cryptocurrency Could Replace The Dollar In Five Years

Unlike the old days when crypto adoption was still in its very early stages and was considered nothing more than a speculation, it is now a firm truth and not something that is still in its rolling stages; it is happening as we speak. Recently a calculated survey has been conducted by Deloitte, and it was found that crypto can replace the dollar in the upcoming years but not without the dollar putting up a fight with crypto. 

Many professionals from different financial backgrounds were selected for this survey; some of them shared a background in crypto and blockchain technology as well. The finding revealed at the end of the survey was most of the professionals pitched in for crypto and blockchain adoption rather than joining in with the dollar tribe. 

Recently, the crypto market has sustained itself to a better position after the recent mid-May crash, which was nothing but brutal, and it suddenly made the future for crypto to look dark and gloomy. Now that the crypto and blockchain technology has rallied a great response from investors and traders all around the globe, it is only about time when more and more of them join in and help in making crypto go mainstream.

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Gold Also Plays An Important Role

The solemn relation between the price of the dollar and cryptocurrency is that both are interdependent on each other to drive value, but the primary element that drives both is gold here. Now there is some contradiction among professionals regarding Bitcoin and gold; some say that Bitcoin is digital gold which is understandable, but gold is a primary asset, still holds a precise value of its own, and continue to influence the price of the dollar over Bitcoin.  So the involvement of gold can’t be fully plucked away from this equation until there can be a way to make fiat and crypto independent of each other. Is crypto going to completely overtake the dollar and other forms of fiat currency in the future? It seems highly unlikely, but most of the world will be jolted to adopt the crypto space to be able to function and tackle competition from others in the crypto space.

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Hassan Mehmood (Saudi Arabia)

Hassan is currently working as a news reporter for Tokenhell. He is a professional content writer with 2 years of experience. He has a degree in journalism.

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