Quote from: Fundamentals Of on October 18, 2020, 01:24:38 PM

Quote from: HammadAli on October 18, 2020, 12:29:34 PM

Quote from: Upgrade00 on October 18, 2020, 12:27:23 PM

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.

It is probably depends on the bitcoin and the value of any other currencies.

Inflation occurs depending on how different governments handle it and make their economy firm and stable. Don't think that bitcoin is independent about its value, bitcoin can increase its value and lose its value depending on its own price and depending on the country's ability to handle its economy when crisis occurs.