Topic: The Impact of US dollar on Bitcoin - page 2. (Read 209 times)
USD is only one of the many reasons BTC's price is moving. The USD getting stronger isn't really a sign BTC is going to drop. Especially as we're 1 year post halving, which is usually a very bullish year.. things may go unexpectedly wild soon, who knows..
Yes, of course, it is clear that it affects in the short term, just as it affects in the short term if the stock markets rise. But in the long term what matters most is massive fiat printing, 0% rates and limited supply of Bitcoin. In the long term it can only go up.
With the dollar having some gains and strength currently, I see that it is having an impact on the price of bitcoin. I have followed this up since bitcoin started the bull last year and around April to December during the American presidential election between Donald Trump and Joe Biden, when the US dollar dropped for whatever reasons including the usual fears of change of leadership or administration as investment in dollar were dropped for uncertainties and the bull hit the bitcoin market because most investors changed gears to bitcoin.
And now it is changing with the rising strength of US dollar which looks like what analyse call correction which maybe up to 15% as days go on.
Bitcoin seem to be dropping while dollar is strengthened. I think this is because at least 70% of bitcoin trading is done mostly by dollar either directly or by conversion. The chart below show the current fallen price chart of bitcoin against the dollar.
And now it is changing with the rising strength of US dollar which looks like what analyse call correction which maybe up to 15% as days go on.
Bitcoin seem to be dropping while dollar is strengthened. I think this is because at least 70% of bitcoin trading is done mostly by dollar either directly or by conversion. The chart below show the current fallen price chart of bitcoin against the dollar.
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