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Author Topic: The dollar affects Bitcoin?  (Read 987 times)
Cepat Kaya
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July 24, 2018, 11:42:20 PM
 #1

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?
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July 25, 2018, 12:13:22 AM
 #2

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?

Yes it can actually make the price of bitcoins increase if the dollar price decreases and people will earn more profit in that way.

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July 25, 2018, 02:31:15 AM
 #3

I do not think it will be a part. However BTC with USD is two different types of assets. USD is the cash property that can be traded directly, and BTC is the electronic currency that deals with numbers.
This shows that BTC is more convenient than USD, so it is difficult to influence each other.
Only if the market is high, the dollar will be used more, the future is the opposite.

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July 25, 2018, 03:32:36 AM
 #4

All currencies or digital money affect each other. If the dollar falls, the bitcoin will also be affected because the investor uses dollars to buy bitcoin, which in turn causes the bitcoin price to fall affect
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July 25, 2018, 03:46:59 AM
 #5

Due to the fact that both are rising I dont think there is a coincident. If one currency depends on the other typically one falls if the other rises. You can see this looking at altcoins at the moment. Most of them bleed due to bitcoins price explosion.

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July 25, 2018, 05:32:28 AM
 #6

The US dollar value is rising very slowly compared to the bitcoin price increase.
Perhaps the USD price movement has some little impact over bitcoin,but I would say it`s under 20%.
There are other factors,that are pushing the btc price up.We have to determine them.

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July 25, 2018, 06:23:07 AM
 #7

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?

In my own opinion, it does not matter even the price of dollars will drop down because people will always invest to bitcoins which will make for the demand to increase and the price to pump as well.

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July 25, 2018, 06:27:39 AM
 #8

I actually observe that thing that fiat affects the crypto's value so my observation was correct because as you see that the dollar goes and also bitcoin but it is also coincidence because last year the value of dollar are low and the value of bitcoin goes up so definitely the prices of two currencies are being different.

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July 25, 2018, 06:36:06 AM
 #9

The US is the strongest economy in the world, but it is completely dependent on external borrowing. The national debt already exceeds $ 20 trillion and grows every year. And this suggests that this US public debt will never be repaid and the entire world financial system is completely dependent on the American economy. And US dollar still affects on whole world and cryptocurrency including bitcoin depend from it.
Because of Bitcoin's anonymity, countries will be able to abandon the monopoly of the dollar without informing the public about it. Firstly BTC starts its journey in the oil products market. It is important that no one knows the owner of Bitcoin transaction, and therefore it will not be known who exactly becomes a monopolist. It's rather foreseeable future that dollar, or another fiat, will depend from btc.

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July 25, 2018, 06:37:32 AM
 #10

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?
A big Coincidence for me.

I would say no, why? because the value of a dollar is rising but it has nothing to do with bitcoin value in other terms when dollar moves no effect on bitcoin.

For the reason bitcoin is just related to dollar it shows you the equivalent price in USD.

Here the cryptocurrency only affects other cryptocoins there are only connected stipl some altcoins or bitcoin are independent which means one can move up without the main (bitcoin) movoing up.



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July 25, 2018, 07:00:15 AM
 #11

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?
It is a coincidence and you should know that bitcoin is trading against dollars,  therefore in reality when bitcoin is increasing bitcoin should be falling.  However many positive news are hitting both dollars market and bitcoin market and that is why it seemed moving along the same ways.

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July 25, 2018, 07:02:17 AM
 #12

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?
Yes, is just a coincidence. Then my answer is a big no there's no related happen between these two currencies. Dollar value is having regulations by the country while bitcoin nothing behind on this Digital currency and the Dollar currency valuations are determined by the flows of currency in and out of a country. A high demand for a particular currency usually means that the value of that currency will increase.
So, therefore I don't think so if they are related to each other IMO.

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July 25, 2018, 07:04:17 AM
 #13

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?


Now this is something new I am reading here. I dont understand why this question might come up in someone's mind. I mean fiat or lets say dollar in your case, why would it affect the prices of bitcoin at all? Both of them are in different sphere of economy and have no effect on each other as long as one gets converted or invested in another one. Just take an example of Silver, Gold or diamonds or assets like those, are they rising in the value when USD rises? I dont think so, thats not the way it works mate. Im not sure what others are thinking here, but for me they have got no such effect on one another.

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July 25, 2018, 07:06:42 AM
 #14

The US is the strongest economy in the world, but it is completely dependent on external borrowing. The national debt already exceeds $ 20 trillion and grows every year. And this suggests that this US public debt will never be repaid and the entire world financial system is completely dependent on the American economy. And US dollar still affects on whole world and cryptocurrency including bitcoin depend from it.
Because of Bitcoin's anonymity, countries will be able to abandon the monopoly of the dollar without informing the public about it. Firstly BTC starts its journey in the oil products market. It is important that no one knows the owner of Bitcoin transaction, and therefore it will not be known who exactly becomes a monopolist. It's rather foreseeable future that dollar, or another fiat, will depend from btc.

Well said. Once countries start exchanging oil for BTC then we'll really see some momentum. The problem is, the US very violently opposes any who attempt this (Libya tried to establish a gold backed currency to trade oil with) and will either shut it down or smokescreen it.

Of course, the dollar has an impact on the value of BTC but it's minor. Compare a BTC/USD and BTC/EUR chart and you won't see a huge amount of difference, just larger movements for whichever currency is weaker at that time. BTC has more weight, so it dominates the price action.
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July 25, 2018, 07:33:00 AM
 #15

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?
It is just a coincidence both are depends on demand and market stock. The current scenario USD is global currency so all the market is linked in dollar. Many peoples are continuously buying the Bitcoin it will gradually raise in the market. May be some peoples are wrongly understand the relationship of USD and Bitcoin.

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July 25, 2018, 07:38:53 AM
 #16

I think its coincidence, bitcoin and dollar usually dont related at all, the dollar is fully controlled so it cannot follow the bitcoin movement, and the market for both of the currencies is different, and previously when bitcoin fall down very deep I dont see dollar also falling down, so I think both of them are not related

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July 25, 2018, 07:39:18 AM
 #17

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?
related to the topic of whether the dollar price rise is affected or not, my opinion related to that price of the dollar has increased the price of many factors and it occurs when the practice of buying and selling stocks and stocks, and the increase is very falling with the real conditions of what is now the world, bitcoin when it is converted to the dollar form it will affect but the bitcoin users from all over the world and they configure the price according to the currency of each country, the dollar is not the determinant of the bitcoin price increase due to market difference and will be the main determinant when buying bitcoin should converted to one currency only, may be useful and successful for all of us

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July 25, 2018, 08:39:40 AM
 #18

USD does not affect the price of BTC directly as its prices is dictated by how many people invested into it while the price of USD is dictated by the transactions of USD globally. The only way to it indirectly affects BTC is if people exchanges it into fiat or vice versa but it is not solely dependent into it.
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July 25, 2018, 08:54:11 AM
 #19

the strength of the dollar I think will also be followed by the strengthening of bitcoin prices because as far as I know there are many markets that sell bitcoin with USD, I think it is one of the things that affect the price of bitcoin from USD, CMIIW

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July 25, 2018, 09:23:21 AM
 #20

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?

That is funny. I dont think there is any sort of effect over the bitcoin from USD side. The crypto currencies are in different sphere and dollar is at different. The dollar can affect the other national currencies but not the bitcoin I believe. Other currencies are paired with the USD market directly while bitcoin is indirectly. Dollar value rise as such wont affect it, what might affect is its influx in the bitcoin market. This applies to other national currencies as well. Its surely just a coincidence and can be proven with the fact that only BTC is rising and not all the altcoins.

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