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Topic: Bitcoin Rise Due to Lower US Dollar? (Read 816 times)

STT
legendary
Activity: 4102
Merit: 1454
October 22, 2020, 01:09:56 AM
#86
Pretty bullish break from negative trend yep, BTC gaining on paypal news also a fair trend.    Dollar index is towards the lower range but not especially different to previous pricing, if anything its tried to rise and resolved towards bottom range recently.

Chart I was looking at that for some difference was YEN vs Dollar which matters in terms of investment sentiment and makes up part of the dollar index.   Japan also holds 1 trillion US treasury debt if they werent already important for trade reasons.

March 9th peak price here and today YEN did rise quite a bit with dollar index is down on that same day, previous high in September they rose together.   The rough take on this chart is a general trend up for YEN but todays high does not exceed September so its still debatable.

https://www.fxstreet.com/news/usd-jpy-yens-slow-grind-stronger-is-set-to-continue-mufg-202010201636
legendary
Activity: 3304
Merit: 1617
#1 VIP Crypto Casino
October 01, 2020, 03:39:51 AM
#85
Price is currently $10,890!
Maybe this is a day we rise above $11,000 again, it’s been a while. Perhaps we see a bullish breakout, I hope so.
full member
Activity: 980
Merit: 114
October 01, 2020, 03:35:53 AM
#84
Bitcoin is not exception in taking advantage of market force. We can see that even gold too is gaining. Usd is a major currency and whenever is down we should expect other coins or money to gain. We are at time were we should be able to really see what bitcoin and cryptocurrencies are developed for and that is as a safe haven.
full member
Activity: 382
Merit: 109
September 28, 2020, 05:51:01 PM
#83
What people have to understand is the fact that dollar will always continue to go down, it is not a currency that gains value over time, something you buy for 10 dollars now will be 20 dollars in a decade, it has always been like that and it will always be like that as well.

This means if you truly believe that bitcoin is something that goes up when dollar loses value, if you buy into bitcoin now, you will be at least double in a decade, what you can buy right now with 1 bitcoin will be the same thing you can buy in a decade as well, it will not lose value. Is this true? I don't know, sometimes it looks like it is true and sometimes it looks like it is wrong but at the same time we can't make you make your decision for you, you have to decide if it is like that or not and invest accordingly.


The price of currency or asset will change based on the market.Dollar is not a exception to that economy factor.Now the world economy was collapsed and no where the huge amount of dollar is needed to do a international trade.It was main cause of this fall.The price of dollar also impact the price of bitcoin and Ethereum.
legendary
Activity: 2338
Merit: 1124
September 28, 2020, 11:34:10 AM
#82
What people have to understand is the fact that dollar will always continue to go down, it is not a currency that gains value over time, something you buy for 10 dollars now will be 20 dollars in a decade, it has always been like that and it will always be like that as well.

This means if you truly believe that bitcoin is something that goes up when dollar loses value, if you buy into bitcoin now, you will be at least double in a decade, what you can buy right now with 1 bitcoin will be the same thing you can buy in a decade as well, it will not lose value. Is this true? I don't know, sometimes it looks like it is true and sometimes it looks like it is wrong but at the same time we can't make you make your decision for you, you have to decide if it is like that or not and invest accordingly.
sr. member
Activity: 1914
Merit: 328
September 27, 2020, 01:02:40 PM
#81
Quote
gold is still preferable to bitcoin if that happens.

I watch gold every day so right now it is suffering, its a long term asset not short term perfect protection and little people on the street will want something a little more liquid.   Its going to take a bit of skill to play gold and the spreads will kill most people jumping in and out of it.   Nothing wrong with mixing the two as they do different things and imo gold appreciates on a decade long stride.

So just observing dollar index today, its a slight fall but only within wednesday pricing which is minor.   I think we're probably more stable till monday even tuesday.
 

Gold is still suffering less than silver. People who bought it could have done worse.

The real winners are always those who sell gold or silver like Peter Schiff and make money on small margins. For this reason buying into gold hype when markets were hit by covid news was a bad idea despite all the schilling Peter did at that time.

I think that the biggest factor is not the price of USD but the S&P500. If stocks go up this year Bitcoin will follow.
Gold is not good because of short or quick profits, it is not actually even for profits, it is there because when one nation loses its fiats value, other nations are still giving around the same value to gold, it is a global thing, so that nation that had devaluation will suddenly have gold so much more high. It is not a worldwide investment to make forever, it is a prevention of losing your wealth.

If you have all your investments in gold, your nation can suddenly become like Venezuela but since you have gold, you can go to USA or wherever and sell all your gold and still would be rich, nobody can stop you from doing that. This is why people call bitcoin digital gold as well, your nation can be good or bad but bitcoin is global so your nations movements wouldn't affect it.
Gold is a bit better not because price movements but because of volatility, gold may have some volatile days but mostly it is a dormant investment, and it is historically tied to value of fiat which means if the stock market goes down or fiat devalues gold prices will skyrocket. Look at bitcoin during the same time, it did moved WITH and not against them so it is not really that good of an investment.

Gold is great for bad days, if you think bad days are waiting for us ahead you should have gold, but bitcoin is good for good days, if you think future is brighter you should get bitcoin because it moves up faster than anything else. So, they are both the same but also very different, you should make that decision depending on what you believe will happen in the future.
full member
Activity: 1093
Merit: 103
September 27, 2020, 03:24:31 AM
#80
Dollar will always lose value, that is what fiat currencies do, that is why we have bitcoin. To start off with dollar has always lost value in the most important regular stuff, your gallon of milk may not lost too much and it could be worth just a bit more than what it was 10 years ago, but check how much Harvard takes for studying there 10 years ago, 20 years ago and 30 years ago and you will see the difference, take a look at TV's and you will not see huge difference, even though technology is mind bogglingly better it is maybe x2 than what it was 10 years ago, or computers, yet check healthcare and you will see how it went up x10 just in the past 10 years, a cancer treatment could take up as much as half a million dollars.

So long story short, people increase your salary based on computer and milk and so forth and they ignore the college fee and health, they cherry pick.

There's no comparison of bitcoin with US dollars.
Bitcoin has their function and rules it won't deal with any other currency especially with US dollars.
It depends on the supply and demand, whenever people sell their coins in a panic the price of bitcoin falls.
I suppose that this is a different matter, because in reality Bitcoin is different from the dollar and does not need to be compared. But the fact is that the dollar is depreciating, because the American government prints a large amount of paper money and therefore the best asset for investment, as well as for the future storage of their savings, people will and are already buying Bitcoin. Of course, today the dollar exchange rate has stabilized and even showed small growth rates, but nevertheless, since the dollar is an international currency, according to statistics, paper dollar funds are not enough to provide the special countries of Asia and Africa, and we have to turn on the printing presses again. In addition, the pandemic forces to minimize losses in economic terms by increasing the money supply and another indicator that the dollar has already lost its unreliability.
sr. member
Activity: 1820
Merit: 418
Telegram: @worldofcoinss
September 26, 2020, 10:28:41 PM
#79
Dollar will always lose value, that is what fiat currencies do, that is why we have bitcoin. To start off with dollar has always lost value in the most important regular stuff, your gallon of milk may not lost too much and it could be worth just a bit more than what it was 10 years ago, but check how much Harvard takes for studying there 10 years ago, 20 years ago and 30 years ago and you will see the difference, take a look at TV's and you will not see huge difference, even though technology is mind bogglingly better it is maybe x2 than what it was 10 years ago, or computers, yet check healthcare and you will see how it went up x10 just in the past 10 years, a cancer treatment could take up as much as half a million dollars.

So long story short, people increase your salary based on computer and milk and so forth and they ignore the college fee and health, they cherry pick.

There's no comparison of bitcoin with US dollars.
Bitcoin has their function and rules it won't deal with any other currency especially with US dollars.
It depends on the supply and demand, whenever people sell their coins in a panic the price of bitcoin falls.
legendary
Activity: 2464
Merit: 1102
September 26, 2020, 10:47:43 AM
#78
Quote
gold is still preferable to bitcoin if that happens.

I watch gold every day so right now it is suffering, its a long term asset not short term perfect protection and little people on the street will want something a little more liquid.   Its going to take a bit of skill to play gold and the spreads will kill most people jumping in and out of it.   Nothing wrong with mixing the two as they do different things and imo gold appreciates on a decade long stride.

So just observing dollar index today, its a slight fall but only within wednesday pricing which is minor.   I think we're probably more stable till monday even tuesday.
 

Gold is still suffering less than silver. People who bought it could have done worse.

The real winners are always those who sell gold or silver like Peter Schiff and make money on small margins. For this reason buying into gold hype when markets were hit by covid news was a bad idea despite all the schilling Peter did at that time.

I think that the biggest factor is not the price of USD but the S&P500. If stocks go up this year Bitcoin will follow.
Gold is not good because of short or quick profits, it is not actually even for profits, it is there because when one nation loses its fiats value, other nations are still giving around the same value to gold, it is a global thing, so that nation that had devaluation will suddenly have gold so much more high. It is not a worldwide investment to make forever, it is a prevention of losing your wealth.

If you have all your investments in gold, your nation can suddenly become like Venezuela but since you have gold, you can go to USA or wherever and sell all your gold and still would be rich, nobody can stop you from doing that. This is why people call bitcoin digital gold as well, your nation can be good or bad but bitcoin is global so your nations movements wouldn't affect it.
hero member
Activity: 2184
Merit: 531
September 25, 2020, 04:08:33 PM
#77
Quote
gold is still preferable to bitcoin if that happens.

I watch gold every day so right now it is suffering, its a long term asset not short term perfect protection and little people on the street will want something a little more liquid.   Its going to take a bit of skill to play gold and the spreads will kill most people jumping in and out of it.   Nothing wrong with mixing the two as they do different things and imo gold appreciates on a decade long stride.

So just observing dollar index today, its a slight fall but only within wednesday pricing which is minor.   I think we're probably more stable till monday even tuesday.
 

Gold is still suffering less than silver. People who bought it could have done worse.

The real winners are always those who sell gold or silver like Peter Schiff and make money on small margins. For this reason buying into gold hype when markets were hit by covid news was a bad idea despite all the schilling Peter did at that time.

I think that the biggest factor is not the price of USD but the S&P500. If stocks go up this year Bitcoin will follow.
full member
Activity: 1470
Merit: 148
September 25, 2020, 03:45:41 PM
#76
Whale manipulation will not be lost every time there is a surge of price in bitcoin based on the frequency and the consistency of spoof orders. We can't say that it was due to lower US dollar because the demand ans users of bitcoin comes from the whole world.
On the side of Bitcoin manipulation the market has been with it and will  continue with it. Basically the lower in the price if dollars the high the price of Bitcoin, though this has to be base on news. Basically OP analysis doesn't add up as he refused to compared both but in my opinion, Bitcoin rise is always tagged with news that are available at a particular time. Also, the purpose of Bitcoin existence was to Carter for inflation which the fiats has caused over the years.
sr. member
Activity: 1190
Merit: 267
Undeads.com - P2E Runner Game
September 25, 2020, 02:19:11 PM
#75
Quote
gold is still preferable to bitcoin if that happens.

I watch gold every day so right now it is suffering, its a long term asset not short term perfect protection and little people on the street will want something a little more liquid.   Its going to take a bit of skill to play gold and the spreads will kill most people jumping in and out of it.   Nothing wrong with mixing the two as they do different things and imo gold appreciates on a decade long stride.

So just observing dollar index today, its a slight fall but only within wednesday pricing which is minor.   I think we're probably more stable till monday even tuesday.
 


Maybe you are right because it takes a lot longer to generate than bitcoin, I'm also sure some young people want things fast and don't like to wait too long.
so both have their own advantages and disadvantages.
I really like bitcoin even though in fact gold is superior.
STT
legendary
Activity: 4102
Merit: 1454
September 24, 2020, 03:37:46 PM
#74
Quote
gold is still preferable to bitcoin if that happens.

I watch gold every day so right now it is suffering, its a long term asset not short term perfect protection and little people on the street will want something a little more liquid.   Its going to take a bit of skill to play gold and the spreads will kill most people jumping in and out of it.   Nothing wrong with mixing the two as they do different things and imo gold appreciates on a decade long stride.

So just observing dollar index today, its a slight fall but only within wednesday pricing which is minor.   I think we're probably more stable till monday even tuesday.
 
sr. member
Activity: 1190
Merit: 267
Undeads.com - P2E Runner Game
September 24, 2020, 02:01:36 PM
#73
I think it is still too far to choose bitcoin as the main investment, gold is still preferable to bitcoin if that happens.
although bitcoin can avoid inflation and generate profits but its price is very volatile makes people still doubt it,gold still leads.
Have you see the gold price movement? Yeah you must see it before you make the opinion.

Based on daily time frame the gold chart has passed the 23% fibbonaci retracement after its price slumped down.

At this situation, there is no good for gold or bitcoin because both of them have the same price movement.

Also, the DXY chart pattern seem like will form the head and shoulder pattern maybe there is an affect for bitcoin will decrease again.


most people will choose what i say apart from higher liquidity, gold is more secure than bitcoin because bitcoin is still very volatile.
so if these two assets decline people will still side with gold.
i also love bitcoin but that can't deny the fact that gold is still more desirable than bitcoin.
full member
Activity: 1330
Merit: 147
September 23, 2020, 11:48:12 PM
#72
I think it is still too far to choose bitcoin as the main investment, gold is still preferable to bitcoin if that happens.
although bitcoin can avoid inflation and generate profits but its price is very volatile makes people still doubt it,gold still leads.
Have you see the gold price movement? Yeah you must see it before you make the opinion.

Based on daily time frame the gold chart has passed the 23% fibbonaci retracement after its price slumped down.

At this situation, there is no good for gold or bitcoin because both of them have the same price movement.

Also, the DXY chart pattern seem like will form the head and shoulder pattern maybe there is an affect for bitcoin will decrease again.
sr. member
Activity: 1190
Merit: 267
Undeads.com - P2E Runner Game
September 23, 2020, 03:51:21 PM
#71
I think it is still too far to choose bitcoin as the main investment, gold is still preferable to bitcoin if that happens.
although bitcoin can avoid inflation and generate profits but its price is very volatile makes people still doubt it,gold still leads.
STT
legendary
Activity: 4102
Merit: 1454
September 22, 2020, 09:04:29 AM
#70
Dollar has risen alongside BTC retraction but its not a larger amount as we have yet to regain the Dollar index pricing for July and prior.   So its more along the lines of speculative and profits being taken.   BTC itself is yet to really move past any special boundary, it could all just repeat till it moves more then this.



So lets say if DXY can maintain a position above 25.10 it may just keep climbing, extra weight added from strong dollar could have a proper effect towards BTC sellers.
hero member
Activity: 2324
Merit: 562
DGbet.fun - Crypto Sportsbook
September 21, 2020, 03:21:26 PM
#69
Weakening of US dollar value is not contributing towards the bullish trend on bitcoin, it is just due to the people are moving to the assets from theor cash deposits and it is happening everywhere in the world.

Whenever the price of dollar was lower ,we can able to see some huge rise in bitcoin price. People start to buy bitcoin equivalent to dollar, when the price back to old one. They will convert their bitcoin to usd again ands get more profit from it. Patience is a needed one to do transaction like this, it won't back to old price in short period.
full member
Activity: 1372
Merit: 133
September 18, 2020, 10:10:24 AM
#68
This could have been a thing back in the day of high peak pandemic time but right now the whole world is used to it. I get that US dollar is very valuable all around the world but let's be honest they are not as strong as they used to be and pandemic and devaluing dollar will not make as much noise as people think it will make.

This is why I highly suggest people to take a look at the Euro side of things as well, it is still strong, not as strong as it used to be before pandemic but recovered a lot better and even with that bitcoin still went up recently. Plus to think that dollar devaluing makes bitcoin go up, that has to be mean that dollar gained value when bitcoin dropped as well but nowhere in any recent time dollar gained value yet bitcoin did went down a lot.
In fact, it is quite logical to bet on the euro, and not on the dollar, since the dollar depends on the US economy, and the euro depends on the entire European Union, where each country plays a very important role in this situation. But one must take into account the fact that the strength of the European Union has been falling lately, primarily for bureaucratic reasons. Moreover, on the world stage, some European countries are playing their own political game and are going in a different direction, which harms the entire European Union. Something like the fable of the Swan, Cancer and Pike. Perhaps it is in this situation that the European Union sees great potential in cryptocurrency and more actively allows it to be introduced into everyday life compared to the United States.
legendary
Activity: 3052
Merit: 1188
September 18, 2020, 08:28:07 AM
#67
This could have been a thing back in the day of high peak pandemic time but right now the whole world is used to it. I get that US dollar is very valuable all around the world but let's be honest they are not as strong as they used to be and pandemic and devaluing dollar will not make as much noise as people think it will make.

This is why I highly suggest people to take a look at the Euro side of things as well, it is still strong, not as strong as it used to be before pandemic but recovered a lot better and even with that bitcoin still went up recently. Plus to think that dollar devaluing makes bitcoin go up, that has to be mean that dollar gained value when bitcoin dropped as well but nowhere in any recent time dollar gained value yet bitcoin did went down a lot.
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