Did bitcoin lose its value?

[HammadAli]

Did bitcoin lose its value?
In the era of pandemic 2020, Federal Reserve Bank printed paper currency notes which ultimately decreased the value of us dollar USD. And in that period, Bitcoin btc was also stagnant and did not move much. So did bitcoin has losen its value with usd? If yes then similarly other fiat currencies like usdb, usdt etc. also lose their value with devaluation of us dollar.

[1715086375]

1715086375

[1715086375]

1715086375

[Upgrade00]

Bitcoin is not pegged to the USD, it is only priced against it, it can equally be priced against other fiat assets, gold as well as other cryptocurrencies. This means that a decrease in the value of one currency would lead to a increase in Bitcoin's value when priced against it but doesn't mean bitcoins value follows that currency. This becomes clearer when we consider that Bitcoin has surpassed its recent all time high, against several currencies which has suffered huge inflation without much change in the global market.

then similarly other fiat currencies like usdb, usdt etc. also lose their value with devaluation of us dollar.

Tether is a stable cryptocurrency, not a fist currency; fiat is attributed to legal tenders accepted by governments, such stable currencies may not be decentralized or 'crypto' i.e hidden, but these does not make them fiats. To answer the question, if a currency is pegged against another, a drop in value of the supporting currency would lead to a drop in value in the one it backs. So USD drops affects tether.

[HammadAli]

Bitcoin is not pegged to the USD, it is only prices against it, it can equally be priced against other fiat assets, gold as well as other cryptocurrencies. This means that a decrease in the value of one currency would lead to a increase in Bitcoin's value when prices against it, this becomes clearer when we consider that Bitcoin has surpassed its recent all time high, against several currencies which has suffered huge inflation.

So you say bitcoin rose due to inflation in other surrencies?

[Upgrade00]

So you say bitcoin rose due to inflation in other surrencies?

Technical, Yes. But, it depends on the currency.
The Turkish Lira for example has been heavily devalued over the years and was hard hit by the pandemic effect, this led to huge increase in the value of Bitcoin when priced against it, this is however an isolated incident and does not have much global ripple effect, so we can not say the price of Bitcoin rose.
When it happens in sync across various top fiats (such as the USD which is the global reserve currency) it would have a global effect, in this scenario, the global value of Bitcoin would have risen due to inflation.

[Fundamentals Of]

Bitcoin is not pegged to the USD, it is only prices against it, it can equally be priced against other fiat assets, gold as well as other cryptocurrencies. This means that a decrease in the value of one currency would lead to a increase in Bitcoin's value when prices against it, this becomes clearer when we consider that Bitcoin has surpassed its recent all time high, against several currencies which has suffered huge inflation.

So you say bitcoin rose due to inflation in other surrencies?

What exactly do you mean by this question?

The value of currencies deflate. That means they decrease in worth and purchasing power. As a result, what is inflating are the prices of the goods and services.

If the currencies are losing value, that would mean Bitcoin becomes expensive. Or it could be the other way around, Bitcoin becomes expensive because the currency is getting weak.

[Crypto_lion]

Did bitcoin lose its value?
In the era of pandemic 2020, Federal Reserve Bank printed paper currency notes which ultimately decreased the value of us dollar USD. And in that period, Bitcoin btc was also stagnant and did not move much. So did bitcoin has losen its value with usd? If yes then similarly other fiat currencies like usdb, usdt etc. also lose their value with devaluation of us dollar.

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You have exactly mentioned why Bitcoin is more valuable now that the federal reserve has printed something like 20 percent of all USD in existence these last 6 months. We will see Bitcoin having more value.

[Assface16678]

As far as I know, Bitcoin's market value is not dependent to fiat currencies. The price of it is more determined by the demand and supply just like the any other things being sold to the masses, perhaps. The difference of its market value is its degree of volatility which is multiple times higher than the value of gold, as an example, as well as fiat currencies. More likely, the reason is regulation. Bitcoin is decentralized which voids the idea of regulation making its price not dependent to anything in the "world market". Feel free to correct me because that is how I understand its market value.

In the era of pandemic 2020, Federal Reserve Bank printed paper currency notes which ultimately decreased the value of us dollar USD. And in that period, Bitcoin btc was also stagnant and did not move much. So did bitcoin has losen its value with usd?

I don't think that is the reason why the market price of Bitcoin is having resistance at that point of this year.

If yes then similarly other fiat currencies like usdb, usdt etc. also lose their value with devaluation of us dollar.

This would be another case then. Since USD is being the main basis of exchange in the world market, what happens in its value might reflect to ther fiat currencies.

[Mpamaegbu]

So did bitcoin has losen its value with usd? If yes then similarly other fiat currencies like usdb, usdt etc. also lose their value with devaluation of us dollar.

There's no way we should consider the current state of Bitcoin as having lost its value when we view it from the prism of its present price. If anything, it gained value. It's a pandemic at hand at the moment, yet the price keeps soaring and more users get added on its network from patronage. Take a perusal of fiat standing against Bitcoin, dollar and pounds inclusive, and you will observe that from $3,500 in February-March this year to well over $11,000 now shows value addition to Bitcoin. It's value that causes demand; and demand paves way for price increase. And this is what is happening with Bitcoin. Technically, for me, Bitcoin has gained more value than all fiat at this time.

[kentrolla]

All these years there were numerous debate about the same topic but whereever it loses its value Bitcoin has always bounce back stronger, I don't think BTC will ever be worthless but we will see always similar debates during every dump. Since most of the people who potrays BTC in negative light are the ones who have very little knowledge about crypto.

[avikz]

Did bitcoin lose its value?
In the era of pandemic 2020, Federal Reserve Bank printed paper currency notes which ultimately decreased the value of us dollar USD. And in that period, Bitcoin btc was also stagnant and did not move much. So did bitcoin has losen its value with usd? If yes then similarly other fiat currencies like usdb, usdt etc. also lose their value with devaluation of us dollar.

How come it is stagnant?? I have posted a simple chart starting from 1 March 2020 till today. March was the month when majority of the countries moved into lockdown. So as a reference date, it is perfect!



Now tell me how it is stagnant?? Also bitcoin is just priced by USD but bitcoin doesn't have any correlation with USD as such! This is just a quantification!

[Gozie51]

Technically, for me, Bitcoin has gained more value than all fiat at this time.

This is undoubtedly so. Bitcoin has really surprised many positive minds who who saw bitcoin falling beyond $4,000 against predictions of $4,000 being marked as reversal price.
Bitcoin has fought easily climbing higher in this period. It has performed very well above expectation and maybe because it is the halving year, we might keep seeing high highs as the vaccine is expected, any time from the moment we can start the bull experience.

[yhiaali3]

I think this is not true. Bitcoin does not lose its value because, unlike the dollar and the rest of the fiat currencies, large amounts of these currencies have been pumped out to face the economic recession, which has led to a decrease in their value.
Bitcoin, on the contrary, is not injecting any new quantities of Bitcoin into the market, but rather these quantities decrease every four years due to the halving of Bitcoin. Also, the amount of Bitcoin is limited and amounts to only 21 million, while fiat currencies have an unlimited number.

[Oshosondy]

It is not possible that bitcoin lose its value, it is only a deflationary currecies, but it seems bitcoin volatility was great at the beginning but getting less volatile as more people are getting to know and using bitcoin. Only fiats are the ones losing value, especially the fiats from countries that are not developed, not bitcoin. We do not need to talked about the covid-19 pandemic crises but we can emphasize that the price of bitcoin that was lowered at a point in March 2020 that people thought the pandemic could have caused rose from $3800 to a price beyond $11000 now. I have only noticed that bitcoin price have increased during the crisis.

USDt can not lose its value against US dollar, the coin is a stable coin, also all stable coins that are like that have stable price with US dollar, they are not devalued against dollar but following dollar price trends, if dollar decrease they decrease an if dollar increase in value they also increase in value. Because of that, stable coins value against bitcoin deprecited as US dollar's value is depreciating.

[The Cryptovator]

I think OP mixed up about bitcoin price and bitcoin value. You may simply search on Google what does mean value.

value
/ˈvaljuː/
1. the regard that something is held to deserve; the importance, worth, or usefulness of something.
"your support is of great value"

So, by the above reference, we can say bitcoin value is fine till now although we can't see much impact on bitcoin price. Bitcoin is a decentralized cryptocurrency and its value fully depends on the community. And the bitcoin community growing rapidly with mass adoption.

If you are wondering about price, then also it is on positive movements. Even there is a global pandemic but bitcoin trading price is on an uptrend.

[Nhor1011]

Did bitcoin lose its value?
In the era of pandemic 2020, Federal Reserve Bank printed paper currency notes which ultimately decreased the value of us dollar USD. And in that period, Bitcoin btc was also stagnant and did not move much. So did bitcoin has losen its value with usd? If yes then similarly other fiat currencies like usdb, usdt etc. also lose their value with devaluation of us dollar.

Bitcoin is still valuable and not lose it's value. The demand keep on increasing that makes it valuable. Bitcoin did not rely on the value of $ but on the demand. Even their is a pandemic the current value of bitcoin is still high.  

[20kevin20]

As far as I know, Bitcoin's market value is not dependent to fiat currencies. The price of it is more determined by the demand and supply just like the any other things being sold to the masses, perhaps. The difference of its market value is its degree of volatility which is multiple times higher than the value of gold, as an example, as well as fiat currencies. More likely, the reason is regulation. Bitcoin is decentralized which voids the idea of regulation making its price not dependent to anything in the "world market". Feel free to correct me because that is how I understand its market value.

Demand & supply is part of what moves Bitcoin's price, but it's waay more complicated than that. It's not as easy as determining the level of the two. However, when for example demand reaches extremities (ATH or ATL), it certainly does become a significant price influencer.

Other things currently being sold to the masses don't have some features Bitcoin does, such as halving or mining hashrate. Inflation likely influences the price the same way it influences prices of commodities or any other assets/services/goods, but overall it's a big mixture of various data that leads to a specific price on the markets. It's even determined by some stuff that may seem unessential at first sight such as how many coins are dormant, trading volume etc.. Once all this information put together creates a certain market feel, it moves accordingly.

[Xembin]

Despite the pandemic that make so many currencies lose their
 value but bitcoin value still stand well in the areas of market. BTC was better than other cryptocurrencies which most of
them lose value during the pandemic that make some of the
supplier wonder bitcoin is still more better than fiat money which is centralized.
For my experience I think bitcoin is still well okay compare to other cryptocurrencies.

[Ryker1]

Did bitcoin lose its value?

Well, it could be yes but it is impossible. Even though the price is unpredicted, --losing bitcoin value will never happen.
The value of USD is not a factor for the bitcoin to decrease or worst turn to zero. Bitcoin is not backed by the US or USD, it is backed by the demand it had. It is actually another way around. If USD continues to decrease, bitcoin might skyrocket. Why? Because if that is gonna be happening, the demand for bitcoin will then increase. ^{[As simple as that]}

[Beyerd17]

Did bitcoin lose its value?
In the era of pandemic 2020, Federal Reserve Bank printed paper currency notes which ultimately decreased the value of us dollar USD. And in that period, Bitcoin btc was also stagnant and did not move much. So did bitcoin has losen its value with usd? If yes then similarly other fiat currencies like usdb, usdt etc. also lose their value with devaluation of us dollar.

When the pandemic started there was a financial panic that lead to the strenthening of the US dollar, tanking of the stockmarket and the tanking of the cryptomarket. People were selling their assets to be able to get liquidity in the form of dollars. Then both the stockmarket and the cryptomarket bounced back hard.

So in short, the market was very volatile and not stagnant at all like you claim.

[livingfree]

The price of bitcoin didn't move much? I advise to check all the charts starting from January 2020 up to this moment. You will see how much is the movement of bitcoin and how good we are in the situation of bitcoin despite the pandemic.

The value of bitcoin is still precious, defining the price of bitcoin and its value, I didn't see any less effect of it because of pandemic and the printing of more dollars in US' economy.