Bitcoin and foreign exchange | Bitcointalksearch.org

Mpamaegbu

legendary

Activity: 2716

Merit: 1225

Once a man, twice a child!

Quote from: harbs23 on April 03, 2018, 01:26:09 AM

Hi Guys im just wondering.
Is there a connection? with the rise and decrease of bitcoin in our foreign exchange?

Of course, there is a correlation between them, OP. The price and value of Bitcoin is first measured against the dollars and later against the hodler's own fiat (in conversion). So, I think that majorly the strength or weakness of the dollar determines the increase or decrease of bitcoin in quantity one can get at purchase. It's the same thing that happens at every exchange, whether foreign or local.

darkangel11

legendary

Activity: 2296

Merit: 1335

Don't let others control your BTC -> self custody

Quote from: ?? on ??

The Foreign Exchange market (Forex) is the world’s center for exchanging currencies.

That is if by "foreign exchange" OP means forex and not some crypto exchange registered in a foreign country.

Of course, these markets are connected, just like crypto exchanges and stock exchanges. If the value of a foreign currency goes down and that currency can be exchanged for BTC, one can buy less of that given fiat for the same amount of BTC. At some point if the difference in value is greatly in favour of BTC people may take it as an opportunity and start buying cheaper fiat.

harbs23

newbie

Activity: 81

Merit: 0

Hi Guys im just wondering.
Is there a connection? with the rise and decrease of bitcoin in our foreign exchange?

Topic: Bitcoin and foreign exchange (Read 122 times)