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Author Topic: The dollar affects Bitcoin?  (Read 1616 times)
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April 07, 2019, 08:25:21 AM
 #341

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's the factors that cause bitcoin price rise, while usd price rise then people purshasing power increase then they can have more spare money to invest. But it is not the main factors, I think the biggest factor is rising demand for bitcoin by chinese and japanese, those people looking for safe havens.

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April 07, 2019, 02:35:53 PM
 #342

The dollar price not affect bitcoin price, but people also need the price for bitcoin to be on USD or in another cash money, because when people cashout need money, this is the way, and also when they buy again need USD or another currency to buy bitcoin, but the price is affected by demand and supply.
for me the dollar affects the price of bitcoin too. because the price of bitcoin is definitely exchanged into dollars. so if the dollar is low. then bitcoin will also be of low value. so all of that certainly has enough influence on the development of crypto going forward.

 
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April 07, 2019, 05:13:19 PM
 #343

What do you mean by dollar is rising? or you mean it was inflating and  decreasing in value? Well, I remember this happened back then, around the time you wrote this.
Of course, some blamed it on Bitcoin. Bitcoin/cryptocurrency was probably the cause but it was an isolated case. The price of Bitcoin moved up too quickly which was probably from lots of people/wealthy few selling dollars for Bitcoin.
By the way, Bitcoin had been moving up and down in the past years without having major effects on fiat currencies.

 
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July 06, 2019, 02:30:39 AM
 #344

In the global economy, many things are interconnected. But this dependence is not always direct and obvious. In fact, fiat currency and cryptocurrency should not affect each other, as they are completely in different planes. However, the rise or fall of $ may, although not significantly, influence the course of Bitcoin, but it seems to me that inverse dependence is not possible.
In my opinion, the price of USD does not affect the price of Bitcoin, because the segmentation is different and the level of need is different. But American government policies on digital currencies including Bitcoin will definitely affect prices.
From this it can be concluded that there are more government policy factors that can influence the movement of Bitcoin prices compared to the rise or fall of the USD price.

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July 06, 2019, 02:43:07 AM
 #345

Although the pairing of Bitcoin to the dollar especially during withdrawals may affect the profit or loss margins, the rise in Bitcoin is not largely due to the rise in value of the dollar. This is quite clear by comparing the rate at which these two currencies are making their market surges - Bitcoin rises at a faster pace whereas the dollar is at a slower pace. If the dollar were to be affecting the Bitcoin, at least the pace of price movement should have been moving at a certain rate together.

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July 06, 2019, 03:08:48 AM
 #346

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?

No effect. For me, it was purely coincidence. There is no reason why the dollar will cause a pump in Bitcoin. There is no correlation between a bullish dollar and a bullish Bitcoin. Well, if there is any, it will be very minimal, which means insignificant. However, on the contrary, it is possible that a very bullish Bitcoin will cause the decrease of dollar value.

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July 06, 2019, 06:00:11 AM
 #347

I think there is no direct correlation between the price of the dollar and bitcoin. However, in a single financial system, it cannot be that financial assets do not fully influence each other. Minimum impact between the price of the dollar and bitcoin should still be. Let economists deal with specific calculations on this matter.

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July 06, 2019, 06:06:17 AM
 #348

The bitcoin is not tied to dollar or any kind of fiats so it will not affect the top coin on whatever issue. The leading cryptocurrency is not use by any government or central bank nor is part of a national economy where currency will be affected if something happen in a country. A decentralized cryptocurrency will only affected by its own supply and demand and events that related to cryptocurrencies.

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July 06, 2019, 06:14:43 AM
 #349

The bitcoin is not tied to dollar or any kind of fiats so it will not affect the top coin on whatever issue. The leading cryptocurrency is not use by any government or central bank nor is part of a national economy where currency will be affected if something happen in a country. A decentralized cryptocurrency will only affected by its own supply and demand and events that related to cryptocurrencies.
This cryptocurrency is moving on its own, it's not being affected by any fiats or any government currency since it's moving inside its own market
and the industry is not relying to anything, even dollar will not affect it will continue to rely with it's own market, like what you've mentioned it will
be influence by its own supply and demands.
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July 06, 2019, 10:56:01 AM
 #350

I do not think there is any correlation between the movement of Dollars to that of Bitcoin. Even if there is any, it will be little. And I will call it coincidence.  Value is basically influenced by the forces of market demand and supply. The sphere in which bitcoin and dollars operate are different. And so is the demand and supply.

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July 06, 2019, 11:53:03 AM
 #351

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?

indeed the increase in the dollar certainly influences the development of the next bitcoin. because bitcoin is a digital currency that is fixed on the exchange of dollars. so it's only natural that the dollar grows, crypto will also grow

That is right but when the dollars grows, it doesn't mean that bitcoin will grow too. That still depends on the demand of the market. The investors will tell how the price will go, with their every movements in the market, that can really affect the price. That is how volatile bitcoin is, we should really be cautious and aware of that especially to new investors.

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July 06, 2019, 02:20:06 PM
 #352

in my opinion there might be a correlation. because most BTC markets exchange pairing BTC with USD, when the USD or BTC price grows the investors interest to invest in BTC because if it is converted to the local currency the value will gain more. but this only affects countries that do not use USD for daily use. IMO

 
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July 06, 2019, 04:28:51 PM
 #353

in my opinion, the dollar effect can improve, but crypto affects the users themselves. such as state regulation will greatly affect crypto prices and also the issue of the market being hacked also includes affecting crypto.


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July 06, 2019, 04:50:08 PM
 #354

In my opinion, there is no influence of bitcoin with dollars because bitcoin stands alone and moves on its own with no effect on others, maybe just coincidence both of them go together up but actually. There is no connection between them

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July 06, 2019, 05:15:33 PM
 #355

in my opinion there might be a correlation. because most BTC markets exchange pairing BTC with USD, when the USD or BTC price grows the investors interest to invest in BTC because if it is converted to the local currency the value will gain more. but this only affects countries that do not use USD for daily use. IMO
Agreed, bitcoin is comprised of Satoshi. Each Satoshi has got value in terms of dollar. Though we have got more direct usage of bitcoin the value of the product is calculated in terms of USD and the respective value is mentioned in terms of bitcoin.

This way I find direct dependence of bitcoin over dollar, when the value of dollar gets disturbed the value of bitcoin too falls which were experienced in the reciprocal manner where the dollar is secondary.




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