Bitcoin and dollar - page 2. | Bitcointalksearch.org

Sayeds56

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Quote from: Edcrypto91 on April 10, 2023, 04:33:00 PM

Most crypto currencies are valued using dollar including Bitcoin .Does this mean that fluctuations in the price of dollar will affect the price of Bitcoin directly or indirectly.since most other currencies(not crypto) still are priced using dollar expecially during exchange.
Or does the pricing of dollar value have no effect on Bitcoin

Yes! It often does affect, in particular dollar & stock market index S&P500 can have significant influence on Bitcoin price.. However, I am pretty sure once Bitcoin is adopted world-wide as method of payment, then hopefully it will move on its own strength.

There are other factors those can also have significant impact on Bitcoin price including rate of inflation, hash and difficulty rate of Bitcoin mining.

Darker45

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Yes, I think the fluctuations in the value of dollar will affect the price of Bitcoin in one way or another. If the dollar weakens, it means a certain amount of dollars couldn't anymore buy the same amount of Bitcoin that it used to when it was still stronger. Bitcoin could be considered as a commodity. So just like eggs, vegetables, cereals, bread, and other commodities, the price of Satoshis also rise whenever the value of dollar falls. But of course Bitcoin has also its supply and demand side.

death69

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You've hit the nail on the head with that dozy of a question! In a nutshell, yup, the greenback's roller-coaster ride can totally shake things up for our dear ol' Bitcoin. As a trading hotshot, I can vouch for the fact that Bitcoin's often paired with the buckaroo, which means Uncle Sam currency can sway Bitcoin's price in more ways than one.

Now, let me slip into my goofball cap and imagine a world where the dollar goes belly up—BAM! We'd be shelling out Bitcoin for our java and munchies. But let's get real: the dollar-Bitcoin tango is a tad more intricate than that. Bitcoin value is ruled by market supply and demand, not to mention a smorgasbord of other variables like regulatory shifts, investor vibes, and tech breakthroughs.

So, to wrap it up, while the dollar's ups and downs can definitely jostle Bitcoin's price, it's just one piece of the crypto trading puzzle. Keep your peepers peeled for news updates, stay in the know, and don't forget to let your hair down along the journey!

un_rank

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Quote from: Edcrypto91 on April 10, 2023, 04:33:00 PM

Most crypto currencies are valued using dollar including Bitcoin .

Go to any website that tracks the value of cryptocurrencies, hover at the top options, you should see an option to change the pairing fiat currency to any suggested option like EUR, GBP, CNY, etc. Dollar is the default, but the price of bitcoin is not paired to it.

Quote from: Edcrypto91 on April 10, 2023, 04:33:00 PM

Or does the pricing of dollar value have no effect on Bitcoin

If the dollar devalues, the amount of Bitcoin you can buy with $1 reduces, this does not affect the number of bitcoins you can buy with £1 or ₤1. A devaluation in bitcoin could have a sentimental effect making people lose more faith in fiat and look for alternatives like bitcoin.

- Jay -

Mttewndew

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Hmm, interesting question. Let me put it this way. Bitcoin is like that cool rebel kid in school who doesn't really care what the teacher or the principal (read: dollar) thinks. It marches to the beat of its own drum, so to speak. So, yeah, the value of the dollar might have some effect, but Bitcoin will always do what it wants to do.

Despairo

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Since USD is a global reserve currency and most people use it to compare each currency or commodities with USD, do you think if USD collapse, all currency and commodities in this world e.g. Yuan, Yen, Euro, Bitcoin, Gold, Real Estate, Stock will become worthless too?

Bitcoin is a currency, same like USD. The difference is USD is already used globally and almost everywhere while Bitcoin isn't. If Bitcoin is already accepted in most of countries, you will see the price of goods is using Bitcoin equivalent in the future.

Don Pedro Dinero

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Quote from: Edcrypto91 on April 10, 2023, 04:33:00 PM

Most crypto currencies are valued using dollar including Bitcoin .Does this mean that fluctuations in the price of dollar will affect the price of Bitcoin directly or indirectly.since most other currencies(not crypto) still are priced using dollar expecially during exchange.

When we talk about bitcoin and measure it in dollars, just as when we talk about any other pair, such as the euro-dollar, either side of the equation affects the final outcome. Whether bitcoin appreciates or the dollar depreciates, the result will be that you will see an increase in the valuation of bitcoin in dollar terms, and vice versa: you will see less bitcoin for the same amount of dollars.

Quote from: _act_ on April 10, 2023, 04:46:55 PM

Pairs have effect on each other.

This.

BlackBoss_

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Quote from: Edcrypto91 on April 10, 2023, 04:33:00 PM

Most crypto currencies are valued using dollar including Bitcoin

Because the US. dollar is a biggest and most common fiat currencies so many trades globally are valued in the US. dollar.

Quote

Does this mean that fluctuations in the price of dollar will affect the price of Bitcoin directly or indirectly.since most other currencies(not crypto) still are priced using dollar expecially during exchange.

When people recognize risk of devalue of fiat currencies by their inflation, they will choose other things that can not be created from the air like gold, silver and of course Bitcoin is one of their most favorite choices.

ROI charts for Bitcoin, Gold, S&P500, Long US bonds.
https://casebitcoin.com/charts#roi_chart

soap94

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Quote from: GreatArkansas on April 10, 2023, 08:04:13 PM

It will always depends on the market, I believe. Depends on the buyers and sellers.
On the other side, let's say some people want to invest in other things because the value of the US Dollar is going down, which may increase demand and raise the price of Bitcoin.
There are always some connections between fiat current and Bitcoin.

This! These are two separate markets which will impact each other. Anyway, it's better to invest in all possible assets to diversify the portfolio you hold using special prop firms

By having fiat and crypto as 2 separate investments you can be safer during financial crisis and instabilities. I would recommend to do so!

GreatArkansas

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It will always depends on the market, I believe. Depends on the buyers and sellers.
On the other side, let's say some people want to invest in other things because the value of the US Dollar is going down, which may increase demand and raise the price of Bitcoin.
There are always some connections between fiat current and Bitcoin.

SamReomo

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The US dollar is the most widely accepted currency in the world. It is an international currency that's why it's accepted worldwide. All cryptos and their prices are determined with US dollar, Bitcoin is also included in that list.

Fluctuations in the price of Dollar will not impact the price of Bitcoin as long as people are not buying or selling it in bulk. Even if Dollar devalues the Bitcoin will maintain its price and that devaluation will not have any impact on it.

From recent reports it has been shown that people will invest their Dollars in Bitcoin, and if that report is true and the predictions are right then definitely the price of Bitcoin will increase.

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Quote from: Edcrypto91 on April 10, 2023, 04:33:00 PM

Most crypto currencies are valued using dollar including Bitcoin .Does this mean that fluctuations in the price of dollar will affect the price of Bitcoin directly or indirectly.since most other currencies(not crypto) still are priced using dollar expecially during exchange.
Or does the pricing of dollar value have no effect on Bitcoin

Obviously, the fluctuation of the value of the dollar will affect the fiat valuation of Bitcoin. In a market pair, any changes on the valuation of one of the pairings will affect the value of conversion of the other one. Let us say Bitcoin's current price value is $29k dollar, then the dollar value crashes, it is obvious that the purchasing power of the dollar will be lessened thus making the conversion of Bitcoin to the dollar more expensive.

hatshepsut93

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When USD changes its value by 0.1% in short time, we can't measure this effect on Bitcoin, because Bitcoin changes its value by a much higher percentage due to its constant volatility. Same thing is happening over larger timeframes. If US dollar loses single- or double- digit percentages over years, Bitcoin changes its value - up or down or both, by a much higher percentage. Bitcoin market is so chaotic that you can't strongly correlate it with anything.

But I believe this will change as we are getting closer to the supply limit, so halvenings will stop causing these huge bull and bear markets.

Zaguru12

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Quote from: Edcrypto91 on April 10, 2023, 04:33:00 PM

Most crypto currencies are valued using dollar including Bitcoin .Does this mean that fluctuations in the price of dollar will affect the price of Bitcoin directly or indirectly.since most other currencies(not crypto) still are priced using dollar expecially during exchange.
Or does the pricing of dollar value have no effect on Bitcoin

It is just because dollar is the reserve currency and nothing more. Cryptocurrency are valued or priced in each fiat you want it but the general currency is dollar because it is the international currency. So should the dollar devalues it doesn’t affects the value of bitcoin towards other currency rather the dollar will only increases in value against the bitcoin. For example if 1btc=$10k and then the dollar devalues it will become something like 1btc=$11k depending on it depreciates.

Quote from: Nwada001 on April 10, 2023, 04:49:42 PM

1 dollar will always be equal to 1 dollar; the dollar only depreciates in value and not in price.
If a currency is being devalued, that means its purchasing power will decrease. To make a successful economy, the price of goods must increase in order to equal the value of the currency.

The devaluation power has actually made it not to be equal to 1$ because it actually loses against other currencies or store of values. Due to inflation rates only store of values like bitcoin or sometimes bar of gold are actually worth the same as times goes on.

Nwada001

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1 dollar will always be equal to 1 dollar; the dollar only depreciates in value and not in price.
If a currency is being devalued, that means its purchasing power will decrease. To make a successful economy, the price of goods must increase in order to equal the value of the currency.

_act_

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If fiat are rising or valuing in price, it may not be noticed. If bitcoin is paired with United States dollars, if USD fall in price, it will result to increase in the price of bitcoin.

If bitcoin increase and USD increases, but bitcoin increases more, the price of bitcoin will increase but not up to the value it would have increased up to if USD decreases or remain constant and did not increase at all.

If bitcoin decrease and dollar increase, but bitcoin decreased more, bitcoin will decrease more than the price it supposed to decrease to.

Pairs have effect on each other.

Edcrypto91

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Most crypto currencies are valued using dollar including Bitcoin .Does this mean that fluctuations in the price of dollar will affect the price of Bitcoin directly or indirectly.since most other currencies(not crypto) still are priced using dollar expecially during exchange.
Or does the pricing of dollar value have no effect on Bitcoin

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