Post
Topic
Board Nigeria (Naija)
Re: Dollar increase
by
Doan9269
on 27/01/2024, 13:07:00 UTC
But the question I could love to ask is bitcoin and dollar related or does increase in dollar affects bitcoin rates
 

Let's try to expatiate it, there's difference between dollar a d bitcoin first , the united state dollars is fiat and bitcoin is a cryptocurrency which is a digital decentralized coin, if the dollar is being affected either positively or negatively, we are going to see it's effects only on naira, exchange rate of naira to USD will either rise or fall, same as well if the Nigerian economy is getting better or worse, our own local currency is what gets affected the most, while the whole of this has nothing to do with the bitcoin market price to rise or fall for any reason because they are entirely different currencies, system and network.