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

  • Thread starter Thread starter Sammyesx
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Sotherefore said:
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.
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There are definitely other factors that affect demand and supply apart from demand and supply, I know that market new usually has an impact on the market
 
This is definitely a known fact that the high increase of Bitcoin in the crypto currency exchange Business will definitely devalue dollar and that is why the US government are against Bitcoin
 
Sammyesx said:
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.
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I might not have much knowledge on bitcoin but I don't know how bitcoin is related to dollar because bitcoin is a digital money so is quite different from dollar
 
The common thing you will notice on the prices of Bitcoin is that they will begin to affect the cost in fees for transacting in Bitcoin. So, Bitcoin price increase affect transaction fees to become higher
 
I dont think the effects you are talking about will be relevant to the us dollar because the raise in it price only dealt with bitcoin operation only but not the price of other currencies used in its operations.
 
Filicit said:
There are definitely other factors that affect demand and supply apart from demand and supply, I know that market new usually has an impact on the market
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Other factors are just making people to either withdraw their money or investment more in cryptocurrency but for the movement of cryptocurrency it is only by the law of supply and demand.
 
Well adverse effects seems far fetched because that's not even the case against the dollar because Bitcoin is not affecting it drastically and more reason the idea behind crypto would last
 
Kunkun said:
Well adverse effects seem far fetched because that's not even the case against the dollar because Bitcoin is not affecting it drastically and more reason the idea behind crypto would last
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True. The prices of cryptos do not affect currency price, I don't see any adverse effect or negative effect the prices of bitcoin would have, they are two different means of exchange.
 
Sotherefore said:
Other factors are just making people to either withdraw their money or investment more in cryptocurrency but for the movement of cryptocurrency it is only by the law of supply and demand.
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Withdrawal and deposit also have effect in the price of a coin, rumour has it that the first bear run that happened in April was because rumour spread that a whale made a withdrawal
 
Filicit said:
Withdrawal and deposit also have effect in the price of a coin, rumour has it that the first bear run that happened in April was because rumour spread that a whale made a withdrawal
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Well there was a lot of rumours about so many things that pull down the price of cryptocurrency, but all this the most trusted one was the financial institute of China being banned from accepting cryptocurrency.
 
Sotherefore said:
Well there was a lot of rumours about so many things that pull down the price of cryptocurrency, but all this the most trusted one was the financial institute of China being banned from accepting cryptocurrency.
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China crackdown on cryptocurrency what's the major reason behind the crash in the market that happened around the month of May and decision of Tesla CEO to withdrawn the use of Bitcoin payment.
 
Sotherefore said:
Well there was a lot of rumours about so many things that pull down the price of cryptocurrency, but all this the most trusted one was the financial institute of China being banned from accepting cryptocurrency.
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The ban of crypto in China got wide spread in the middle of June, and the bear run had already started then, so something must have triggered it before then.
 
Filicit said:
The ban of crypto in China got wide spread in the middle of June, and the bear run had already started then, so something must have triggered it before then.
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That is why sometimes a lot of people believe that cryptocurrency can somehow be manipulated because we don't know how all these things came about for us to be in that serious drop in all crypto currency.
 
Sotherefore said:
That is why sometimes a lot of people believe that cryptocurrency can somehow be manipulated because we don't know how all these things came about for us to be in that serious drop in all crypto currency.
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I am part of those people that believe that crypto currency can be manipulated since those that have a lot of shares of a coin, whenever they take any action proves to have effect on the market
 
The BTC increase in value should serve as a great advantage for the dollar, it could help its strength and not kill its strength else Countries would have banned it for long
 
With the increase in usage of Bitcoin in the crypto currency it will definitely affect the value of dollar in the long run because people will stop using dollar at some point and rely more on Bitcoin, if this happens dollar will definitely lose value and Bitcoin will go up
 
Filicit said:
I am part of those people that believe that crypto currency can be manipulated since those that have a lot of shares of a coin, whenever they take any action proves to have effect on the market
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Well I didn't always believe in the manipulation of cryptocurrency but because of my experience and so many things that is happening in the crypto space that make me to start believing that it can somehow be manipulating.is not nice.
 
Sotherefore said:
Well I didn't always believe in the manipulation of cryptocurrency but because of my experience and so many things that is happening in the crypto space that make me to start believing that it can somehow be manipulating.is not nice.
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Lol, it's not nice? That is his the world has been rigged, only those who have the real knowledge knows how something work, so gain knowledge, gain more knowledge
 
Filicit said:
Lol, it's not nice? That is his the world has been rigged, only those who have the real knowledge knows how something work, so gain knowledge, gain more knowledge
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Doing a sharp drop in the price of bitcoins few days ago even the top cryptocurrency traders in my contact list were not able to predict that such thing will happen, it is beyond technical and fundamental analysis.
 
The more the price of the Bitcoin increased or keeps increasing, the more expensive it will become to transact in Bitcoin. The cost of sending out Bitcoin becomes extremely very expensive at this times
 
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