The dollar affects Bitcoin?

[Sadlife]

The price depends on supply and demand on the people who is willing to buy a lot of it and that cause for the price to dramatically increase. Of course if the price goes up those people who bought at a cheaper price will sell their bitcoin or altcoins for cash like usd or any other fiat. So its really not surprising if the btc and usd goes higher.

[$anounimus$]

The dollar still affects the price of bitcoin. because basically the current value of bitcoin is also based on the dollar and if there is a negative sentiment towards the bitcoin dollar it will get a decline as well

currencies such as dollars should not be able to influence the movement of bitcoin prices because the dollar with bitcoin has a very clear difference, and what can influence the price of bitcoin is only the influence of the interaction between buyers and sellers in the exchange.

[0t3p0t]

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 think this is just a coinsidence because  they have different technology usage. We all know that they are the same in terms of purpose like payment system but Bitcoin is only affected by  technical issues such as security breach, FUD and manipulation not by fiat money. I think fiat money is the one that can be affected by Bitcoin as some investors prefer to invest in Bitcoin rather than having funds in banks.

[sfr2017]

Major international currencies are quoted to the US dollar, thus making them quite dependable not only cryptocurrency and the  United State Dollar has been the global reserve currency for decades now, so for as long as it is showing strength and bitcoin is perceived to be in a bear market.

[amonymous]

With the price rise USD dollars will nothing affects to increasing bitcoin price i think so.Because USD and Bitcoin two different think.USD will needed when we convert BTC to USD.Bitcoin will take some things with the price rise.Investing will increase,trading will grow,New people will be interested in it,the government of different countries will accept it.Then it will be seen that its value will increase definitely.

[Nhor1011]

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?

Dollar doesn't affect in bitcoin because this two are different asset with different value. Dollar is just an international convertion rate for bitcoin and other cryptocurrencies. For my own knowledge....If the dollar increase it won't give assurance that the value of bitcoin also increase. They are different.

[Alexlax]

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?

Dollar doesn't affect in bitcoin because this two are different asset with different value. Dollar is just an international convertion rate for bitcoin and other cryptocurrencies. For my own knowledge....If the dollar increase it won't give assurance that the value of bitcoin also increase. They are different.

Just the same dollar has an impact on Bitcoin, albeit indirect. If the dollar grows, you will get more in bitcoins. Well, in general, these are different "assets", I do not see a direct connection between them.

[fullhdpixel]

I believe in some ways it does, but I can’t really explain how this can happen. Everyone finds it difficult to explain what really triggers the price of Bitcoin to go either up or down, but the popular explanation they use is that the supply of Bitcoin and the market demand for it is what makes the price to go either up or down. Yes that is true, but there is still more to what makes the price to be that way.

[PlusOne88]

The possible connection of dollar to bitcoin is the number of users that buys the cryptocurrency using it. The more users using dollar to buy and trade bitcoin, the more effect it may have to its value. To make the analysis simple, consider only the US as the main user of bitcoin. When the dollar value goes up against bitcoin the next possible effect would be that the more users will buy the bitcoin because it is lower in price and they could buy more than what they could have bought previously. When sales goes up, the demands surely goes up as well and eventually will make the price of bitcoin go high.

[shoreno]

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.

Only 1 out of 100 types of coins will increase with today's decline in Bitcoin prices. I see there are no types of coins that experience good benefits with the current decline in Bitcoin prices.

Your right  and i also notice it that when bitcoin decline ,  many other crypto follows but there will always be few coins that will increase .

 idk also know why it is possible when we all know that other crypto is connected to the price of btc .

They maybe being manipulated by whales or they are just only built for pump and dump use  and their devs are responsible for thier explosion  .

[BennyK]

Take it this way, the final conversion of most cryptocurrency is to fiat, thus when users withdraw their profits and spend them. If the dollar increases, it means converting Bitcoin to dollar will also give a higher value. 

[Dudeperfect]

As far as value is concerned, it depends on the law of demand and supply, irrespective of other scenario taking place in the market. When the price of Dollar fluctuates in the forex market, it triggers the fluctuation in demand and hence the price reflects in the overall crypto industry. However, crypto is a different market altogether and not every time external incidents affect it hence we can safely say that it is an indirect correlation between these two currencies.

[munareal]

The dollar and Bitcoin are interrelated in a way. Investors invest their funds to make a profit . If for any reason funds are moved form fiar to cryptocurrency marketplace. This will affect the dollar likewise if Bitcoin is moved to the fiat currency because of hype. That will also affect the market situation of bitcoin. This will not be the case when there is a full adaptation of bitcoin and cryptocurrency but for now, the two affect each other.

[normanderecho]

Its just a coincidence mate, because they are different in functions. All I know in bitcoin is no longer central authority due to its decentralized unlike other currencies, particularly in USD which are backed by the government.

[avarnet]

The dollar still affects the price of bitcoin. because basically the current value of bitcoin is also based on the dollar and if there is a negative sentiment towards the bitcoin dollar it will get a decline as well

currencies such as dollars should not be able to influence the movement of bitcoin prices because the dollar with bitcoin has a very clear difference, and what can influence the price of bitcoin is only the influence of the interaction between buyers and sellers in the exchange.

it is true that bitcoin and dollars are very different but from the dollar we can get bitcoin, so the influence of the dollar must be there but not too big if I think

[ginobitcoiner]

I don't think so, because USD is not the only type of FIAT currency that can be exchanged for bitcoin, therefore I think this doesn't have much effect on bitcoin when the USD value increases.

[akram143]

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?

if the price of Bitcoin was being continuously increasing or decreasing still not definitely affects the price of anything but when the people in the country preferred cryptocurrency is more than their country currency it will definitely affects the usage of normal paper money at that time the economic development will be definitely going to downfall.

[Dimas99]

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?

price changes and price fluctuations due to trade movements using crypto and fiat currencies do not affect the bad price and crypto currencies will experience a fairly good development going forward.

[yunzau]

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 affects bitcoin because the dollar is still a reference to how high the value is if it is exchanged into fiat currency.

[andrei56]

The dollar still affects the price of bitcoin. because basically the current value of bitcoin is also based on the dollar and if there is a negative sentiment towards the bitcoin dollar it will get a decline as well

currencies such as dollars should not be able to influence the movement of bitcoin prices because the dollar with bitcoin has a very clear difference, and what can influence the price of bitcoin is only the influence of the interaction between buyers and sellers in the exchange.

It is obvious the dollar has an effect on bitcoin, after all a popular currency to exchange bitcoin for fiat is the dollar but I see them as adversaries, if the dollar is doing well then the are is not a reason to use bitcoin for most people since they can use the dollar for whatever they want but if the dollar is in some trouble then there is a chance for the price of bitcoin to go up since people will be looking for alternatives.