A crypto divide – Is the US dollar in trouble amid the BRICS rise – Cryptopolitan

The world is moving towards a new word order, which will undoubtedly affect the crypto industry. Many in the global economy deride it as “The Fall of the United States of America”. Since the onset of COVID-19, the US economy has taken a tough stance. As a result of these events, investors turned to DeFi for financial relief and survival.

Get this – there is a new economic power at play – the BRICS. With it comes a new direction for digital assets. The so-called BRICS nations (Brazil, Russia, India, China and South Africa) have made strides in crypto and international economics, raising questions about the dollar’s role in the global economy.

Is this the new world order?

In recent years, the BRICS nations have experienced rapid economic and political power growth, which has significantly affected the global economy, particularly the US dollar. These nations have completely abandoned the use of the USD for trade in favor of the Chinese Yuan or their own currency.

The BRICS nations have also worked to increase their trade and economic cooperation, which has helped increase their collective economic power. The shift away from the dollar as the world’s reserve currency is a key factor driving the latest conversation. The BRICS countries’ efforts to reduce their dependence on the dollar have resulted in a drop in demand for the currency.

Also, the BRICS nations have made significant strides in the crypto industry. In detail, China launched its digital yuan in 2020, which is currently being tested in several cities across the country.

Additionally, India has been exploring the possibility of launching its CBDC while having some of the strictest crypto tax regimes globally. As for Russia, the ongoing war with Ukraine has shown a crypto hand not experienced before. Brazil and South Africa have also been active in crypto, with both countries experiencing significant adoption growth.

The BRICS breakout could have significant consequences for the United States. The US dollar’s status as the world’s reserve currency has enabled the country to finance its huge trade deficits and government debt at low interest rates. If the demand for US dollars were to decrease, it could lead to higher interest rates and inflation, which could have a negative impact on the US economy.

Several trades started in the best part of the last week of March. With today’s speed and global development, only time and patience can truly tell in which direction the new world order will unfold. How will crypto thrive in the new marketplace?

Crypto under the New World Order

The current trade situation with the US dollar and the rise of the BRICS nations could play out in several ways. Nevertheless, it is obvious that decentralized finance, which is outside the control of government, will be a very welcome savior. One concern stands out: how will US crypto investors survive the increased government attack on cryptocurrencies?

Crypto elites, such as Brian Armstrong, have quickly jumped on the trend, and their observation is shared by many. Many investors in the United States are furious about the loss of their savings and investments due to the recent bank failures. The subsequent increases in bank interest rates have driven the common enemy to desperation.

Furthermore, there has been a double standard in how the US has dealt with cryptocriminals like SBF, who financed political campaigns during the Biden administration, which is not good.

If you have been in the financial industry since the Great Depression of 2007-2008, then you know that what is happening is nothing new. The world has witnessed major downturns in the past two years, but Bitcoin has defied all obstacles thrown its way. Probably crypto is the way out. Or maybe it’s the whole new world order. Every man for himself and God for us all.

It’s never too late to jump on the crypto bandwagon – this is not investment advice. However, BTC will soon rise above $30,000. According to CoinMarketCap, Bitcoin stands at $27,921. The Ethereum price is at $1,788 at the time of writing.