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 <p>For much of the last year, the United States has struggled economically. Along with the globe, the country has fought off inflation and sought to ease the fragility of its financial state. However, that may become even harder as <a rel="noopener noreferrer nofollow" title="BRICS" href="https://thebittimes.com/tag/brics.html">BRICS</a>, <a rel="noopener noreferrer nofollow" title="GOLD" href="https://thebittimes.com/tag/gold.html">GOLD</a>, and Bitcoin could be set to wreak havoc on the US dollar in the upcoming year.</p>
 <p>All three present cases on why they could be a massive deterrent to any growth the greenback sees next year. Moreover, they all foreshadow the confirmation that the dollar could be in store for a stark decline. So, let’s explore those three factors, and just what they could mean to the currency as it enters the new year.</p>
 <h2 class="wp-block-heading" id="h-brics-and-de-dollarization">BRICS and De-Dollarization</h2>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="576" src="https://cdn.thebittimes.com/images/2023/12/04/ac014d4b947fe9d4b434f412933fdd2f.webp" alt="putin xi modi russia india china brics" class="wp-image-119970" srcset="https://cdn.thebittimes.com/images/2023/12/04/ac014d4b947fe9d4b434f412933fdd2f.webp 1024w, https://cdn.thebittimes.com/images/2023/12/04/ac014d4b947fe9d4b434f412933fdd2f.webp 300w, https://cdn.thebittimes.com/images/2023/12/04/ac014d4b947fe9d4b434f412933fdd2f.webp 768w, https://cdn.thebittimes.com/images/2023/12/04/ac014d4b947fe9d4b434f412933fdd2f.webp 380w, https://cdn.thebittimes.com/images/2023/12/04/ac014d4b947fe9d4b434f412933fdd2f.webp 550w, https://cdn.thebittimes.com/images/2023/12/04/ac014d4b947fe9d4b434f412933fdd2f.webp 800w, https://cdn.thebittimes.com/images/2023/12/04/ac014d4b947fe9d4b434f412933fdd2f.webp 1160w, https://cdn.thebittimes.com/images/2023/12/04/ac014d4b947fe9d4b434f412933fdd2f.webp 1200w" sizes="(max-width: 1024px) 100vw, 1024px">
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 <p><strong>Also Read: BRICS: UAE Ditches U.S. Dollar for Oil Trade</strong></p>
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 <p>ING was among the lost list of economists to predict a downturn for the US dollar in 2024. Specifically, they noted that the decline was to be expected, “barring huge unexpected risk premia emerging in the currency space,” throughout the year. However, a massive part of that decline is due to the BRICS economic alliance.</p>
 <p>The BRICS bloc has not been shy about its approach to the US dollar. Specifically, they have called for international reliance on the greenback to greatly decrease. More than that, they have implemented their ways to decrease such reliance, through their multi-lateral trade activities.</p>
 <p>These kinds of implemented plans will have effects that begin to show their face in the coming year. Especially as a whole plethora of countries have already agreed to enact these de-dollarization efforts for 2024. Subsequently, <a rel="noopener noreferrer nofollow" title="BRICS" href="https://thebittimes.com/tag/brics.html">BRICS</a> is a key part of the decline but is set to work with <a rel="noopener noreferrer nofollow" title="GOLD" href="https://thebittimes.com/tag/gold.html">GOLD</a> and Bitcoin to create a porous year for the US dollar.</p>
 <h2 class="wp-block-heading" id="h-the-extended-gold-rush">The Extended Gold Rush</h2>
 <figure class="wp-block-image size-full"><img decoding="async" width="733" height="419" src="https://cdn.thebittimes.com/images/2023/12/04/733da86f83340fff59218fb41954da93.webp" alt class="wp-image-119807" srcset="https://cdn.thebittimes.com/images/2023/12/04/733da86f83340fff59218fb41954da93.webp 733w, https://cdn.thebittimes.com/images/2023/12/04/733da86f83340fff59218fb41954da93.webp 300w, https://cdn.thebittimes.com/images/2023/12/04/733da86f83340fff59218fb41954da93.webp 380w, https://cdn.thebittimes.com/images/2023/12/04/733da86f83340fff59218fb41954da93.webp 550w" sizes="(max-width: 733px) 100vw, 733px">
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 <p><strong>Also Read: Gold Price Set to Reach New All-Time High</strong></p>
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 <p>Another facet of modern economic reality that should diminish the US dollar is the growing prevalence of <a rel="noopener noreferrer nofollow" title="GOLD" href="https://thebittimes.com/tag/gold.html">GOLD</a>. The promotion of the precious metal means a few different things for the greenback. Firstly, it provides a key investment opportunity for countries as the dollar’s poor performance continues.</p>
 <p>Secondly, its popularity is strongly connected to expectations from investors on the performance of the United States economy. Indeed, the asset is typically viewed as a defense against inflation, and its growth could affect the</p>
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 <p>Many predictions had expected gold to surpass its 2020 all-time high of $2081 at some point in 2024. However, the asset is already well on its way to approaching that figure now. Subsequently, its popularity has seemingly skyrocketed, with bulls gaining the high ground to this point. If that continues, the US dollar could have yet another opposite throughout next year.</p>
 <h2 class="wp-block-heading" id="h-bitcoin-and-the-digital-asset-revolution">Bitcoin and the Digital Asset Revolution</h2>
 <figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="733" height="419" src="https://cdn.thebittimes.com/images/2023/12/04/ae38c208d75fd27405d6e7e0b1bf43ec.webp" alt class="wp-image-118912" srcset="https://cdn.thebittimes.com/images/2023/12/04/ae38c208d75fd27405d6e7e0b1bf43ec.webp 733w, https://cdn.thebittimes.com/images/2023/12/04/ae38c208d75fd27405d6e7e0b1bf43ec.webp 300w, https://cdn.thebittimes.com/images/2023/12/04/ae38c208d75fd27405d6e7e0b1bf43ec.webp 380w, https://cdn.thebittimes.com/images/2023/12/04/ae38c208d75fd27405d6e7e0b1bf43ec.webp 550w" sizes="(max-width: 733px) 100vw, 733px">
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 <p><strong>Also Read: Bitcoin: Standard Chartered Says ETF to Bring 165% Gain in 2024</strong></p>
 <p>Finally, yet another asset set to get in the way of the US Dollar is Bitcoin. Specifically, the dollar is set to continue competing with the greater digital asset revolution going on globally. Moreover, as that revolution is in full swing, the United States has been clear about its stance against such developments.</p>
 <p>Bitcoin has been predicted by Standard Chartered to reach prices of $100,000 after next year. That kind of investment would be a cosmic shift in the financial reality of the world. Additionally, it does not factor in the growing international shift toward digital assets as a currency.</p>
 <p>China has had massive success with its digital yuan. Countries across the globe have followed their lead and worked to develop their digital currency. The more prominent those become, the more that these nations seek to move away from the US dollar. 2024 should have plenty of opportunities for that to take place.</p>
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<div class="cs-entry__tags">
 <ul>
  <li>bitcoin</li>
  <li>BRICS</li>
  <li>GOLD</li>
  <li>US DOLLAR</li>
 </ul>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/brics-gold-and-bitcoin-why-2024-is-trouble-for-the-us-dollar-tbt72455.html">https://thebittimes.com/brics-gold-and-bitcoin-why-2024-is-trouble-for-the-us-dollar-tbt72455.html</a></p>

BRICS, Gold, and Bitcoin: Why 2024 is Trouble for the US Dollar

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