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[AudraMiller]

There is of course a link between the fiat currency value and the price of various cryptocurrency coins as well, and there are many peopel that are trying to use cryptocurrency in order to try and overcome the effects of inflation that have become so prominent over the last couple of years. However in a recent article, it seems that the solution that America has to print more money may be good for the cryptocurrency world as well. According to the mayor of Tennessee, he believes that if the united states of america goes ahead with the printing of more us dollars, that it would result in a rise in bitcoin prices. In my opinion this could be possible as the rise in bitcoin price would be as a result of the devaluing of the dollar with its increased supply. What are your thoughts on this?

 

[Acrosin]

I think they are somehow correlated but I can't place how they are since Bitcoin is a digital currency while the USD is a currency exchange. Well, these coins are usually compared to dollar rates so an increase in USD production should increase them as well

 

[sammyblaq]

What i understood in this article is that the more dollar printed by the US, less the value and BTC will gain.
But i want to state that Dollar has been appreciating against my location currency (Naira) alongside BTC too.
But if that be the case, the US should continue printing notes.

 

[Emmanuel24]

Since dollars is used mostly when converting bitcoin into fiat currency, I think it can affect the price of bitcoin if they print more of dollars. As you have said the more bitcoin is supply, the more dollars decreases in value.

 

[SCAMEXPOSER]

More dollars been printed is a result of inflation and weakness.of the coin for time being though African countries are having issue with US D.

 

[Pousinha]

In my opinion, not so much. In my opinion, bitcoin price is more dependable on the happenings among the international industries and companies. It's also dependable on how much bitcoin is mined, how much is possible to mine in the future and governmental decisions about cryptocurrencies here and there.

 

[CrazySher]

There is of course a link between the fiat currency value and the price of various cryptocurrency coins as well, and there are many peopel that are trying to use cryptocurrency in order to try and overcome the effects of inflation that have become so prominent over the last couple of years. However in a recent article, it seems that the solution that America has to print more money may be good for the cryptocurrency world as well. According to the mayor of Tennessee, he believes that if the united states of america goes ahead with the printing of more us dollars, that it would result in a rise in bitcoin prices. In my opinion this could be possible as the rise in bitcoin price would be as a result of the devaluing of the dollar with its increased supply. What are your thoughts on this?

No, it doesn't depend it's price just manipulated by whales and big institutional investors, and also by market hype and FUDS.

 

[SCAMEXPOSER]

In my opinion, not so much. In my opinion, bitcoin price is more dependable on the happenings among the international industries and companies. It's also dependable on how much bitcoin is mined, how much is possible to mine in the future and governmental decisions about cryptocurrencies here and there.

You are right with some of the factors you made mention of especially government policies from powerful countries having higher stake in the cryptocurrency ecosystem likewise the decision of the whales.

 

[ElPaule]

There is of course a link between the fiat currency value and the price of various cryptocurrency coins as well, and there are many peopel that are trying to use cryptocurrency in order to try and overcome the effects of inflation that have become so prominent over the last couple of years. However in a recent article, it seems that the solution that America has to print more money may be good for the cryptocurrency world as well. According to the mayor of Tennessee, he believes that if the united states of america goes ahead with the printing of more us dollars, that it would result in a rise in bitcoin prices. In my opinion this could be possible as the rise in bitcoin price would be as a result of the devaluing of the dollar with its increased supply. What are your thoughts on this?

well there might be a correlation because if there will be much more USD -FIAT supply, people have more cash to buy stuff or invest in things like crypto. On the other hand, the money printing drives inflation, which would have a negative impact to BTC, I think.

BUT most important, there are other key currencies that affecting the price of BTC even Chinese currency. USD is not the only currency in the world

 

[crypworld]

Once bitcoin and E-wallets gain popularity, the value of dollar would steadily decrease because most countries are wanting paperless transactions.

 

[a_jerobon]

Many people do truly move into cryptocurrencies in order to evade the effects of inflation. And the printing of more fiat currency will cause so much inflation. On the other hand, it will improve the price of bitcoin and other cryptocurrencies.

 

[sh199]

Fiat currency does not affect the BTC price directly. If the fiat currency increase in value without inflation, theta, people's earnings increase and they will seek a new market for investing. I think that is how it will affect the bitcoin price.

 

[DangerousVj]

No. As i is managed by bulls and whales so its depend upon market supply chain and demand . If demand is high and supply is low den goes high similarly for vice versa if demand is low and supply is high it goes low .The law of economics

 

[GoldenLady]

Bitcoin price doesn't depend on fiat. In this instance, Bitcoin price because as people have more money, their demand will increase. Other than that, Bitcoin price is mainly affected by other factors like news and developments.

 

[osavise]

I don't seem to Understand the correlation between the cryptocurrency and the fiat currency. Ofcourse, cryptocurrency is used to fight inflation in major country cities .

 

[SCAMEXPOSER]

They are not in any dependent on each side other people only relate them when they want to convert from bitcoin to their Fiat currency or vice versa.

 

[highspeed]

Well, or perhaps the rise of Bitcoin, it could also be directly proportional to the devaluation of the US dollar.
In fact, all over the world the ratio is always calculated BTC / USD.

 

[SCAMEXPOSER]

Well, or perhaps the rise of Bitcoin, it could also be directly proportional to the devaluation of the US dollar.
In fact, all over the world the ratio is always calculated BTC / USD.

Yeah it calculated using USD but most times activities arround USD doesn't determine if bitcoin will rise or not though devaluation of USD could make people push more money to bitcoin as hedge to inflation.

 

[AudraMiller]

I don't seem to Understand the correlation between the cryptocurrency and the fiat currency. Ofcourse, cryptocurrency is used to fight inflation in major country cities .

This is true in many countries, and as a result they do find that a lot of people are starting to invest in cryptocurrency to try and combat this, however the correlation is that crypto is valued based on fiat. Therefore if fiat value decreases, crypto prices will increase.

 

[Wisdom01]

Yeah more printing of currency usually have effect on Bitcoin price , because people would invest more since they have more money to purchase Bitcoin as they like