Hi all,
Today I would like to talk about fiat, yeah specially those that I mostly care which are the $CRC (Costa Rican colon), $USD (United States Dollar) and $EUR (Euro). The reason why I need to mention this and go a bit deep in my analysis is because it is currently in the same price range that it was back in 2017.
So the price has been in free fall affecting tourism and also the workers whose salary is paid in USD. On the other hand it is very positive for those with loans in USD which earn the salary in CRC. Similar to that analogy it is BTC is trading at the December 2020 candle which means it could also recover or put it in my words I can buy BTC like 2 years (and a couple months) ago. So it is a big opportunity to buy BTC like it was 2 years ago with my local currency like it was 6 years ago.
Now $EUR isn't much difference. I recently had the chance to visit a friend in The Netherlands and that drop came pretty close to when I was buying euros to have some cash. I bought it right before it hit its low of near 0.95 Euro per dollar so imagine it cost me at least 25-30 % cheaper than it usually trades for. On the big scale I feel it is a great opportunity to save and stash USD, Euros and BTC for the long run specially since it is very likely that my country currency will correct to the normal price which I assume should be near 700 ish colones per USD.
Are you facing a similar situation in your country currency? Do you feel a big opportunity is ahead? Maybe you are seated in the opposite situation like sending money to your country and getting less local currency than you use to get? Is this something that had happened to you? How would you face it? The best answer and comment will get a nice reward.
Thank you very much!
