Topic: The dollar affects Bitcoin? - page 12. (Read 1976 times)
Still it can affect the bitcoin, it can be said that a devaluation of the dollar, or a recession could be a good catalyst for cryptocurrencies in general. So in terms of bitcoins valued against dollar, the value of bitcoin will also decrease. I feel if such a scenario arises then there would a huge bitcoin sell-off due to negetive market sentiments.
I believe that the dollar does not affect the price of bitcoin. Bitcoin depends on other factors and conditions in the market. Bitcoin is very subject to rumors and news, as in principle, any asset or stock on the exchange. Bitcoin depends on large holders who can bring down a coin at any time or Vice versa to make a pump coin.
Yes, you explained it very well. I think the value of dollar doesn't affect the price of bitcoin. Even if dollar is most fiat currency use by all investors, you are right that those factors mentioned above affects bitcoin.
no. so far bitcoin determines its own value. ups and downs of dollars do not affect bitcoin.
Maybe a regular dollar not that much but I've seen some good analisys of a correlation between extreme amounts of printed Tether and Bitcoin price increase.
I believe that the dollar does not affect the price of bitcoin. Bitcoin depends on other factors and conditions in the market. Bitcoin is very subject to rumors and news, as in principle, any asset or stock on the exchange. Bitcoin depends on large holders who can bring down a coin at any time or Vice versa to make a pump coin.
I just thought it was the coincidence. But that is good. The United States can grow at the same time as bitcoin.
Same thing as the condition of other monetary values. If one increases and so the other. All currencies are connected and intertwined with each other. The loss of one economy could be a great impact to the world's economy. And so coins are just connected and thats the way it used to be.
I would say that this lobby of the dollar influences bitcoin. Very many are not interested in the development of crypto because it will have a negative effect on traditional currencies, which means that their assets will be reduced.
Well still dollar won't be affected if bitcoin will become popular. In the first place we used money as the main source of our finance which in market industry money still more valiable.
I would say that this lobby of the dollar influences bitcoin. Very many are not interested in the development of crypto because it will have a negative effect on traditional currencies, which means that their assets will be reduced.
as we know, the dollar is now rising, from the rise in the dollar it turns out that the price of Bitcoin is also rising, so what I ask here is that this is related to the dollar increase? or just coincidence?
I don’t see how the price of Bitcoin is being affected by dollar. So you’re tying to say that assuming the price of Bitcoin is $10 and dollar happens to start rising that the price of Bitcoin will also follow it and maybe go up to $20? That’s a lie, most of you are wrong that’s not true. The value of Bitcoin has nothing to do with the rate of dollar rising or falling, it all depends on what we invest, what we are ready to buy and sell.
In my opinion, at present USD does not affect much bitcoin. Bitcoin prices are mainly measured with fiat currencies such as USD, EUR, JPY, KRW, (formerly CNY before China banned RMB trading with Bitcoin in September 2017). In English-speaking countries, the US dollar and the euro (EUR) are the two major currencies. Both are experiencing continuous inflation due to increased money supply from the central bank's money printing
I find these two coins separate, without affecting each other, at present the price of coins depends on supply and demand, so is converted to the dollar but the interaction between the two coins is not there.
as we know, the dollar is now rising, from the rise in the dollar it turns out that the price of Bitcoin is also rising, so what I ask here is that this is related to the dollar increase? or just coincidence?
I dont think they have anything connection.
Bitcoin went up because of the ETF thing. Now it went back down because that was just rejected. This is probaly the major reason for bitcoin price right now.
It is rather difficult economic problem. Since it is the new market - I think that it can be the truth, it is no secret that all markets are closely interconnected among themselves. Just as history with TETHER. I think that many heard and even saw what occurs
US dollar affects not only bitcoin but the whole economic system, dollar is used as payment method and tangible asset which used in everyday transactions while bitcoin mainly used only for investment nowadays. If we compare bitcoin transaction / day with government or banking institution combined then surely it affects much. As people need more cash money they will sell bitcoin and going for dollar.
What you say is true in a certain sense. The dollar is now regarded as the world's common currency. So when the price of the dollar goes down, it will certainly affect the market.But even if the dollar make a change the price of Bitcoin will not change because the only thing that can make a change on the crypto currency price are us users. Dollar is just the given value of Bitcoin since it is the most traded currency in the world, even if the price of dollar goes down, I don't see it affecting the market especially the crypto currency market.
I am unable understand the relation between dollar and bitcoin. Why the value rise in dollar can hike the price of bitcoin? These are two separate entities. Both are just opposite to each other.
Dollar is fiat currency of USA while bitcoin is international virtual currency. Price of the dollar is affected for different reasons those may be political; international; war etc . We have experienced Bitcoin price fluctuating in a wide range; and such a fluctuation is impossible in case of dollar because it is guaranteed by the Government of America.
Price of bitcoin may rise when the value of dollar is decreasing due to inflation etc. Just like gold and stock markets under those circumstances the value of bitcoin may increase.
Dollar is fiat currency of USA while bitcoin is international virtual currency. Price of the dollar is affected for different reasons those may be political; international; war etc . We have experienced Bitcoin price fluctuating in a wide range; and such a fluctuation is impossible in case of dollar because it is guaranteed by the Government of America.
Price of bitcoin may rise when the value of dollar is decreasing due to inflation etc. Just like gold and stock markets under those circumstances the value of bitcoin may increase.
I don't think so but I may be wrong. Crypto currency price is determined by the supply and demand of it and no other thing is intermediate or linked to that as per my knowledge. Dollar value can be rising or decreasing and that doesn't affect Bitcoin price but may be affect the price in minor in rare cases where one needs to buy Bitcoin when dollar is in high price.
I believe that bitcoin is not in any way connected with the price of bitcoin. You would also say that bitcoin is closely related to oil production. There is absolutely no direct connection of bitcoin and other national currencies. The whole reason is that many exchanges and major players on the exchange manipulate the price of bitcoin. Those who own a large number of coins has an impact on the development and price of bitcoin. That's what affects the price of the market today.
As there is direct dependence of bitcoin with the fiat around the globe. So when there is a fall in the market of usd, the value of bitcoin falls. This causes a drastic fall in the entire capital market of cryptocurrency, and that seems to be the impact of USD upon bitcoin.
The Bitcoin price is expressed as an exchange rate in relation to another currency. The decelerating rate of increase of the coinbase, the supply of bitcoin can, for practical purposes, be assumed to be constant. Whrn the price of the dollar is increase so more people earned big profit so can possibility affects dollar.
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