Post
Topic
Board Economics
Re: The dollar affects Bitcoin?
by
PuertoLibre
on 06/03/2019, 20:50:08 UTC
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.

I guess the fall of USD can affect the price of Bitcoin and the altcoins. They can become cheaper. naturally, these are very few chances to see these events very soon, as many people still trust the dollar.
The cheap USD boosts the buying power of customers and this indirectly affects to price of cryptocurrencies. Honestly, there are no alternative options for the crypto community except buying the cryptos with fiat money in my opinion.