The adverse effect of the increase in the price of bitcoin.

[Sammyesx]

The price of bitcoin has been on the rise these past few years and according to predictions, it is expected to go even higher due to the general acceptance and push to make it a legal tender. The dollar is used in direct measurement or comparison of the value of bitcoin. From random thought, I believe if the value of bitcoin continues to rise it might lead to a corresponding decrease in the value of the dollar. This not base on any research just a random thought. What do you guys think about this? Feel free to share your thoughts.

 

[Ralphjoe]

There is no correlation between the price of Bitcoin and the us dollars maybe you were referring to the USDT because this is the only Cryptocurrency that is pegged with the promise of always going along with the USD in price.

 

[Abbas ali]

With a currency that is 100% technology-based, bitcoin owners are more vulnerable to cyberthreats, online fraud and a system that can be shut down. New bitcoins are created by solving mathematical equations called “blocks,” which are created every time there is a bitcoin exchange online.

 

[Nurudeen]

I don't think there is and will be any effect on the price of Bitcoin. The thing is just that price of crypto currency is been determined by buying and selling. So for now let's say there is high demand in the purchase of Bitcoin or any other crypto currency definitely the price will go up

 

[Alexandoy]

I wonder why you have connected the value of Bitcoin to the value of the dollar. They are parallel with each other like the rails of the train track. For now Bitcoin and any other crypto currency has no relation to the legal tender currency such as the US dollar. Take note that the Bitcoin and other crypto currency are digital commodities that are in the market so you can buy and you can sell. If that is not clear to you then I am sorry because I cannot explain further.

 

[Thosynho]

The price of bitcoin has been on the rise these past few years and according to predictions, it is expected to go even higher due to the general acceptance and push to make it a legal tender. The dollar is used in direct measurement or comparison of the value of bitcoin. From random thought, I believe if the value of bitcoin continues to rise it might lead to a corresponding decrease in the value of the dollar. This not base on any research just a random thought. What do you guys think about this? Feel free to share your thoughts.

I do not think the rise in the value of Bitcoin has adverse effect on Dollar or any other currency. The thought that Dollar is used as direct comparison or measurement to the value of Bitcoin is baseless any local currency can be used to compare with the value of Bitcoin.

 

[Veetos12]

There is no correlation between the price of Bitcoin and the us dollars maybe you were referring to the USDT because this is the only Cryptocurrency that is pegged with the promise of always going along with the USD in price.

Thank you for this idea you brought up to counter the view of the original poster on whether the price of bitcoin may affect dollar price the future if it keeps growing everyday. I am looking forward to learning more about the bitcoin movement chart.

 

[Victor001]

The increase in the price of bitcoin, have somewhat boost the demand on the coin usage, this as result in people rushing into buy the coin for their hold and running exchange.

 

[Adebola]

The effect of increase bitcoin transaction fee personally is that i cannot make any transaction on bitcoin if i want to send a coin i will convert my bitching litecoin and then send it

 

[Ehizzy1]

The effect would be positive instead of negative ,because there would be high demands of dollar ,so that people can buy dollar to get more bitcoin so it would add value to dollar

 

[Nomad]

I do not see any adverse affect when the price increases, except that you may not be able to invest if you were thinking about investment. Price increase is a favorable time for bitcoin investors.

 

[mcjerry]

The price of bitcoin has been on the rise these past few years and according to predictions, it is expected to go even higher due to the general acceptance and push to make it a legal tender. The dollar is used in direct measurement or comparison of the value of bitcoin. From random thought, I believe if the value of bitcoin continues to rise it might lead to a corresponding decrease in the value of the dollar. This not base on any research just a random thought. What do you guys think about this? Feel free to share your thoughts.

That can never happen the rise and fall of bitcoin can never affect the price or value of dollar. Because crypto currencies can not work on there on without the dollar or other country currency

 

[harrypaul]

Bitcoin has no direct relationship with dollars I think.
But dollars as every other currency is just a means of transaction with Bitcoin.
The only problem I think the dollar would face in the coming years is the switch to Bitcoin.
Lot of big companies and individuals are now accepting Bitcoin as a means of payment.
But still,I don't see it happening

 

[Filicit]

I actually believe that dollar being the reserve money for crypto and forex is actually helping dollar increase in it's value keep increasing because dollar keep being in general reserve against all other currencies

 

[BrolySSJ]

I actually believe that dollar being the reserve money for crypto and forex is actually helping dollar increase in it's value keep increasing because dollar keep being in general reserve against all other currencies

Right now the dollar is actually experiencing a major decline in the value because a lot of analysts have shown that he buying potential after United States dollar is much lower than it was one year ago.

 

[Lens]

Recently, I read an article that cited that the demand and supply of the US dollars have effect on the price of cryptocurrency. I don't know how true this is but base on the fact that the cryptocurrency uses the US dollars as a standard for measurement, we could agree to the notion. What is not clear is the direction of the price movement- long or short.

 

[Senator]

About the Bitcoin, generally speaking, whenever the price of the Bitcoin increase or go up in value,there is always an effect on the transaction cost of sending Bitcoin out of your wallets. It becomes very expensive in fees

 

[Filicit]

Right now the dollar is actually experiencing a major decline in the value because a lot of analysts have shown that he buying potential after United States dollar is much lower than it was one year ago.

Every currency has a percentage reduction in the value if it's currency mist times yearly but this might not be because it's a reserve currency it's mostly because of debt and inflation or deflation

 

[Sotherefore]

I actually believe that dollar being the reserve money for crypto and forex is actually helping dollar increase in it's value keep increasing because dollar keep being in general reserve against all other currencies

The movement of cryptocurrency like bitcoins will only depends on the law of demand and supply but sometimes the price of cryptocurrency can be manipulated when there is a huge selling force.

 

[HayKay]

Bitcoin would never affect the price of dollar. The US wouldn't allow it, many nations wouldn't allow it; their resistance against the whole thing alone shows their stance. Once it's seeming like the dollar is weakening, something would be done about it