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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?

 

[AudraMiller]

How does dollars correlate with Bitcoin which is decentralized? Is dollars the only currency that influence the movement of bitcoin?
I am actually asking this question because dollars can influence the currency of other countries no doubt but how does it correlate with cryptocurrency and if possible is there a past scenario we could highlight from.

I think that all fiat currencies would have some sort of influence on cryptocurrency if there is a large market in that country as well, however from what i have seen in the past it seems that teh dollar has the largest impact on the bitcoin and cryptocurrency market as an inverse relationship.

 

[Tundeson]

Yeah it's correct because if the US print more money it will definitely lead to a big rise in the price of Bitcoin so I think that it really depends on the fiat printed that will really determine the price of Bitcoin so the more fiat printed the higher the price of Bitcoin that's just what I think.

 

[AudraMiller]

Yeah it's correct because if the US print more money it will definitely lead to a big rise in the price of Bitcoin so I think that it really depends on the fiat printed that will really determine the price of Bitcoin so the more fiat printed the higher the price of Bitcoin that's just what I think.

If the us had to print more money then it will cause a rise in the value of bitcoin because the value of the us dollar will be on the decline and therefore i think that there is a major concern with this either way in terms of stability of their economy and the crypto community.

 

[Jack / 47 F1]

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?

even thou in theory, the price of btc should not be influenced by the printing of fiat. but since the printing of money has gotten to be the latest fade of politicians all over the world, people are now investing heavely in btc, gold & silver. plus other cryptos & other precious metals & some lesser valued metals, like copper. people want to preserve their wealth & keeping your money in a fiat currency that is losing buying power all the time, does influence the price of btc & other cryptos. more printing equals less buying power, so more people buy cryptos, which pushes up the price.

 

[AudraMiller]

even thou in theory, the price of btc should not be influenced by the printing of fiat. but since the printing of money has gotten to be the latest fade of politicians all over the world, people are now investing heavely in btc, gold & silver. plus other cryptos & other precious metals & some lesser valued metals, like copper. people want to preserve their wealth & keeping your money in a fiat currency that is losing buying power all the time, does influence the price of btc & other cryptos. more printing equals less buying power, so more people buy cryptos, which pushes up the price.

In theory the financial system should actually operate independently of one another however if we are trying to get a truly integrated cryptocurrency the financial system then we have to come to terms with the fact that there will be integration of both of them and it will affect each other depending on how the financial system is performing.

 

[Ononivami1]

It's true that when the dollar is devalued, it would cause a corresponding increase in the value of the bitcoin. This is because the dollar would be weakened Against bitcoin which will logically make the bitcoin appreciate more.

 

[AudraMiller]

It's true that when the dollar is devalued, it would cause a corresponding increase in the value of the bitcoin. This is because the dollar would be weakened Against bitcoin which will logically make the bitcoin appreciate more.

That is the case and the main reason why the impact is so high when it comes to bitcoin is that there is a lot of currencies that are linked to bitcoin bu dollar is the one that it is usually reported in when it comes to cryptocurrency therefore they are closely linked or related.

 

[Ononivami1]

That is the case and the main reason why the impact is so high when it comes to bitcoin is that there is a lot of currencies that are linked to bitcoin bu dollar is the one that it is usually reported in when it comes to cryptocurrency therefore they are closely linked or related.

I throw my weight behind your submission. It's true that the cryptocurrencies are directly related to the dollar. The major tie is that all cryptocurrencies are measured with respect to the dollar. The dollar will definitely have a great influence on the cryptocurrencies.

 

[AudraMiller]

I throw my weight behind your submission. It's true that the cryptocurrencies are directly related to the dollar. The major tie is that all cryptocurrencies are measured with respect to the dollar. The dollar will definitely have a great influence on the cryptocurrencies.

I think that there is going to be a lot of influence in the future when it comes to other Fiat currencies such as the euro and the pound because if we look at the digital stable coins that are being created there is a lot that is also being created in relation to these Fiat currencies and hopefully it will also allow them to be a part of the cryptocurrency network.

 

[Shigobad2020]

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.

I think its interrelated in some ways , I think there is a link between the fiat currency value and the price of various cryptocurrency coins , bitcoin price is more dependable because it has been inexistence for a very Long time Long time being

 

[AudraMiller]

I think its interrelated in some ways , I think there is a link between the fiat currency value and the price of various cryptocurrency coins , bitcoin price is more dependable because it has been inexistence for a very Long time Long time being

There is definitely a link when it comes to the cryptocurrency prices and the value of Fiat currency at any given point in time because if there is a decrease in the purchasing value of your Fiat currency then you will actually see that the value of bitcoin start to increase quite substantially in order to try and account for this because bitcoin is generally given in terms of dollars.

 

[TAH123]

Bitcoin doesn't directly depend on the fiat currency. But more printing of currency usually have effect on Bitcoin price because people may invest more if there are more money and also if they have more money to purchase Bitcoin as they like. So, I think Bitcoin depends on the fiat currencies.

 

[AudraMiller]

Bitcoin doesn't directly depend on the fiat currency. But more printing of currency usually have effect on Bitcoin price because people may invest more if there are more money and also if they have more money to purchase Bitcoin as they like. So, I think Bitcoin depends on the fiat currencies.

There is no direct correlation that exists between the two however there is an indirect link between them and that is why people have to be aware of this if they are investing in crytpocurrency because this way they can be able to make the informed trading decisions.

 

[Kingsleyy]

I believe this may be possible in some ways, but most countries don't really print money but they are trying to improve their economy which can make their currency to be valuable, I don't really believe it depends on how money can be printed but it depends on how a country is improving their economy, printing of money will lead to devaluation of currency which may not add anything to the economy of the country.

 

[Japhnet]

from what i believe, bitcoin depreciate in value everytime that dollar notes are printed

 

[Wisdom01]

I believe this may be possible in some ways, but most countries don't really print money but they are trying to improve their economy which can make their currency to be valuable, I don't really believe it depends on how money can be printed but it depends on how a country is improving their economy, printing of money will lead to devaluation of currency which may not add anything to the economy of the country.

exactly ,I really don't know why some people forget that printing of more money in the circulation can lead to devaluation ,some government would feel they need more money to do other things , so they are likely to print more which have a big disadvantage I think

 

[MayorKayz]

I wonder how the increase in US dollars cash note to be printed will bring rise to the price of bitcoin. I don't see any similarities in the two. Because bitcoin is a cryptocurrency and a cryptocurrency is no way related to fiat currency.
To me I see that the increase in US dollars note to be printed will be a waste.
As we are in a world that almost everyone go around with cashless policies. We don't use cash as before as every transaction is done with credit cards, cryptocurrency and other payment processor.

 

[highspeed]

I wonder how the increase in US dollars cash note to be printed will bring rise to the price of bitcoin. I don't see any similarities in the two. Because bitcoin is a cryptocurrency and a cryptocurrency is no way related to fiat currency.
To me I see that the increase in US dollars note to be printed will be a waste.
As we are in a world that almost everyone go around with cashless policies. We don't use cash as before as every transaction is done with credit cards, cryptocurrency and other payment processor.

I totally agree with you that printing dollar notes or other world currencies is a waste of paper! Furthermore, also in my opinion, the trend of Bitcoin is not at all correlated in any way to the trend in the value of the US dollar.
Fiat currency is not digital money.

 

[Wisdom01]

I wonder how the increase in US dollars cash note to be printed will bring rise to the price of bitcoin. I don't see any similarities in the two. Because bitcoin is a cryptocurrency and a cryptocurrency is no way related to fiat currency.
To me I see that the increase in US dollars note to be printed will be a waste.
As we are in a world that almost everyone go around with cashless policies. We don't use cash as before as every transaction is done with credit cards, cryptocurrency and other payment processor.

probably what he meant is that once more dollars are been printed , the dollar value in the international market would devalue ,but would keep rising in terms of face value which is pegged to Bitcoin , but the real Value of it would actually depreciate or devalue futher , probably so