The effect of cryptocurrency on fiat currency

[Smiles20]

Any kind of effect that it is going to happen the normal fiat currency. This is even know one of the reasons why it was created in the first place because it can be existing independently.

 

[Agbalagbaa]

This is the fact, I am a forex trader and I understand that it is very easy to make profits in highly volatile market conditions. I trade during news events because of the increased volatility.

Despite the fact that volatility increases the chances of making profits, it as well has high chance of making you loose alot of money. I don't trade news.

 

[Genie01]

Despite the fact that volatility increases the chances of making profits, it as well has high chance of making you loose alot of money. I don't trade news.

The news can be whacky sometimes and if you are caught up on the wrong side of the market, it won't be favourable for you.
My enteries is immediately after the news event.

 

[Agbalagbaa]

The news can be whacky sometimes and if you are caught up on the wrong side of the market, it won't be favourable for you.
My enteries is immediately after the news event.

This is very nice, the news can be crazy most times and if you are not careful, you might end up blowing your entire capital because of slippage and other challenges.

 

[Gandiba]

Crypto currency is usually the best.

It has far more potential than the fiat currencies.

This is due to the fact that it presents varying degrees of making money opportunities than the others.

 

[Genie01]

This is very nice, the news can be crazy most times and if you are not careful, you might end up blowing your entire capital because of slippage and other challenges.

That is why professional traders operates differently , if you are not going to be largely in control it is better you stay out of the market in order to avoid stories that touch.

 

[Agbalagbaa]

That is why professional traders operates differently , if you are not going to be largely in control it is better you stay out of the market in order to avoid stories that touch.

The game is largely a psychological one and if you are emotionality unstable it is very advisable to take a break. This is how professional traders operates and they make large sums of profits.

 

[Good-Person]

The game is largely a psychological one and if you are emotionality unstable it is very advisable to take a break. This is how professional traders operates and they make large sums of profits.

I think that a person needs to be prepared mentally when it comes to dealing in cryptocurrencies. This is because just like Forex market, cryptocurrencies are also risky investments.

 

[Planbizzle]

Bitcoin was originally created to serve as another means of currency that alternate the fiat currency and help the dying economy at that time. It’s believed that the increase in the fiat currency printed causes a lot of harms than good to the economy. With a stable amount of bitcoin I believe it has done justice to the supply making it controllable from inflation. Recently most people have found interest in cryptocurrency and they’re investing, saving and trading with cryptocurrency and that’s gradually decreasing the usage of fiat currency.
How do you think this will affect fiat currency? Please state the positive and negative effects
Thanks

Because to its extremely speculative and fluctuating price, cryptocurrencies have the potential to cause volatility in conventional financial markets. Additionally, as it provides a decentralized alternative to standard money, cryptocurrencies might put pressure on fiat currency.