US Dollar getting weaker... effects on cryptocurrency

[Crytptohack]

I haven't seen any concrete correlations to any asset class so far. It may be b/c it is a new asset itself.

It will most likely compete with worldwide currencies like 'king' dollar (which appears to be slowly dropping), the euro, yen, yuan, etc...

I think many people rolled out of precious metals to invest in BTC, although that is speculation. Some countries placed limitations on Gold (India) and the availability is low, so people turned to BTC instead of holding their currency as governments continue to debase it. (Venezuela, India, USA among others)

[crocozino]

well, the weak dollars is good for real economics of US, I don't think that right now it has anything to BTC price
cause the fluctuations of the price itself is very high, some effect of weaker dollar is a minimum

[Xavieroz]

The metals market has been in the financial world for a long time, as well as oil, I do not think these markets can enter into a complete competition with cryptocurrencies, but undoubtedly if we all want to achieve great values, do you depend on all of them? finance, growth issues of the dollar and / or euro?

[STT]

I find it interesting that the US dollar has been going down, and commodities and gold have been rising. But over this same time frame the cryptocurrency markets have contracted quite a bit. So over the long term, do you see cryptocurrencies rising with gold and other commodities, or do you see it as something that competes directly with gold and oil. Conventional wisdom would tell you that it would rise and fall with other commodities, but this hasn't been the case so far. Or is it too early to see any valuable correlations?  

I was going to say over more then a year its quite a clear inverse trend.  Dollar decline and alternatives rise, crypto was called a token commodity a while ago rather then a currency.   It must be used to have value as its not centrally redeemable to any authority it relys on utility for its worth.

Alot of industrial commodities rely on a postive world growth outlook to perform or they suffer over supply vs demand.   Bitcoin has little supply now but also it is not used up like a plain metal might be.   Consider the case long term for such arguments imo.

[Shenzou]

I find it interesting that the US dollar has been going down, and commodities and gold have been rising. But over this same time frame the cryptocurrency markets have contracted quite a bit. So over the long term, do you see cryptocurrencies rising with gold and other commodities, or do you see it as something that competes directly with gold and oil. Conventional wisdom would tell you that it would rise and fall with other commodities, but this hasn't been the case so far. Or is it too early to see any valuable correlations?   

As the cryptocurrency keeps on getting more and more popualr, people are starting to reialize how the blockchain technology could lead to the decentrelization to anything that could be stored digitly, from data to identity, and moeny, the whole world' enonomy involves around the us market and using the dollar as the main currency, and every international transaction needs to be governned by the finincial system, cryptocurrenies and the blockchain technology aims to decentrelize the international economy, international transactions and trades could be done quicker cheaper and without the involvment of any third parties, crypotocrrencies could simplify things and traders iand investors are starting to be aware of that, and soon it will take over the whole economy.

[Proton2233]

The depreciation of the dollar should make us goods more competitive. I think that soon we will see the same reaction in the Euro. Maybe it's part of a strategy by Trump against cheap goods from China. I don't think it will affect the price of the cryptocurrency. Income from trading digital currencies is higher than the return on investment in the real economy.

[lili song]

I find it interesting that the US dollar has been going down, and commodities and gold have been rising. But over this same time frame the cryptocurrency markets have contracted quite a bit. So over the long term, do you see cryptocurrencies rising with gold and other commodities, or do you see it as something that competes directly with gold and oil. Conventional wisdom would tell you that it would rise and fall with other commodities, but this hasn't been the case so far. Or is it too early to see any valuable correlations?   

Commodities every years is rise, but for gold rise a little bit. Cryptocurrencies usually every years rise fast, because this coins not stable yet.
Demand and supply for cryptocurrencies still high and the coins is limited, so automatically the price increase.
Cryptocurrencies more profitable than gold and US dollar.

[bncbnc]

The depreciation of the dollar should make us goods more competitive. I think that soon we will see the same reaction in the Euro. Maybe it's part of a strategy by Trump against cheap goods from China. I don't think it will affect the price of the cryptocurrency. Income from trading digital currencies is higher than the return on investment in the real economy.

But i do not think that Dollar price is decreasing. I think USD is still the top most currency of the fiat world, and its value is not decreasing, even if its price decreasing still i do not think that it will have nay effect on bitcoin, because bitcoin is totally different currency and it has no concern with Dollar or any other fiat currency.

[weav]

It will have a great effect on bitcoin and other assets , because one of the big reasons why usd is getting weaker is because they keep printing more. Which is impossible with btc and other crypto as most people here know.

[Pattart]

although US dollar and crypto currency are different but I am sure indirectly bitcoin effects dollar prices and that is what some countries fear, day by day enthusiasts of crypto currency is continue to increase and the people more interested to Investment their money in crypto and in some countries bitcoin can be used as payment. bitcoin definitely give effect to the lower price dollar

I think bitcoin will have some effect on Dollar, if people will start using bitcoin so the the use of Dollar will decrease and therefore its value will dropping. But it is also a fact that it is very early to say that bitcoin is effecting Dollar value, because currently bitcoin users are not so much in number which can cause Dollar price to fell down, i think it will certainly take a lot of time, when the bitcoin users will increase too much and they also start using bitcoin like fiat currency.

Actually I don't see any direct relationship between the declining dolar price because the result of bitcoin or cryptocurrency? while the US government sees bitcoin not as currency but property or assets, is it possible bitcoin to give effect of decreasing dollar rate? I myself think that weakening dollar because america economy does not grow according to their expectation, inflation and so on. or is it possible that a greater demand for bitcoin than dollar makes the dollar weaker?

[Tapyaks72]

although US dollar and crypto currency are different but I am sure indirectly bitcoin effects dollar prices and that is what some countries fear, day by day enthusiasts of crypto currency is continue to increase and the people more interested to Investment their money in crypto and in some countries bitcoin can be used as payment. bitcoin definitely give effect to the lower price dollar

I think bitcoin will have some effect on Dollar, if people will start using bitcoin so the the use of Dollar will decrease and therefore its value will dropping. But it is also a fact that it is very early to say that bitcoin is effecting Dollar value, because currently bitcoin users are not so much in number which can cause Dollar price to fell down, i think it will certainly take a lot of time, when the bitcoin users will increase too much and they also start using bitcoin like fiat currency.

Actually I don't see any direct relationship between the declining dolar price because the result of bitcoin or cryptocurrency? while the US government sees bitcoin not as currency but property or assets, is it possible bitcoin to give effect of decreasing dollar rate? I myself think that weakening dollar because america economy does not grow according to their expectation, inflation and so on. or is it possible that a greater d
emand for bitcoin than dollar makes the dollar weaker?

As for now the weakening of us dollars is due to economic problem of US if we analyze either Bitcoin has an effect to the weakening of dollars is the conept holding  bitcoin rather than dollars because  the price soaring high and its anonymous  jf you hold dollars in bank how much interest you earn its only small let say 1 % per anum plus incurring taxes while if you invest it in Bitcoin you will earn more than 50% or more for a short period of time  with out taxes .

[friendlychap]

Cryptos follow the flow of dollar, not the other way around though. Dollar and other fiat are becoming weaker day after day and that is the reality of the economy we live into.

[rat03gopoh]

I see investors have plunged into the world of crypto, so the dollar is no longer a benchmark currency price of the world. Investors have made BTC the coin most at the peak of crypto prices as a reference based on the currency of the country of origin in their investment and even aligns with the price of gold bars. In this case is not very influential in the price of both dollars and crypto, because they have different causes on the issue of exchange rates

[taiwww]

I find it interesting that the US dollar has been going down, and commodities and gold have been rising. But over this same time frame the cryptocurrency markets have contracted quite a bit. So over the long term, do you see cryptocurrencies rising with gold and other commodities, or do you see it as something that competes directly with gold and oil. Conventional wisdom would tell you that it would rise and fall with other commodities, but this hasn't been the case so far. Or is it too early to see any valuable correlations?   

I only have speculation regarding this one and that’s, when the whole commodities thing goes up then the fiat should go down because we are virtually putting all the money into these different assets and thus putting load on the printing of new money. When these assets are sold and we ended up printing too much money then we get huge supply of fiat but no one to use it. So that’s basically devaluation of the fiat. The same thing might be happening at this period, however I don’t see why crypto currencies are supposed to behave depending on the fiat itself.