A Short History of Major Fiat Currency Collapses and What Triggered Them

Earlier this year we witnessed a mini flash crash that hit the fiat currency markets. It took approximately seven minutes for the Australian dollar to plummet against the Japanese yen, which surged to levels that it had last held almost a decade ago. Like a number of fiat currencies, bitcoin is going through its own boom and bust cycle which is something it has experienced before. Historically, several global currencies have suffered far worse volatility, with hyperinflation often the outcome.

Also Read: Back to Basics: What Is Money?

Original source

Add comment

Please Sign in to be able to leave comments.