What impacts does the movement of the US dollar have on bitcoin?

[Fidelia]

The US dollar is the standard for measuring the price and value of all cryptos. Apart from that, does the strengthening or weakening of the United States dollar have any effect on the price of bitcoin. Seems the weakening of the dollar is good for bitcoin.

What do you think?

 

[Suba]

As recently the Fed has cut interest rates and the price of Bitcoin has climbed to today the price of Bitcoin has reached $ 63k, so the influence of USD movements on the Bitcoin market will be more visible after the Bitcoin ETF is implemented. So if the strength of the US Dollar Index (DXY) increases, the Bitcoin market will weaken.

 

[Xtynehappy]

I think that the price movements for the usd dollar has a very direct influence on the price for the bitcoins. That is because when the prices for the usd dollar increases it directly affects the bitcoin prices proportionally.

 

[Kross]

I think there is an opposing relationship between the price of the United States dollar and the bitcoin. If the dollar gets stronger, bitcoin would be weaker.

 

[Xtynehappy]

I have really wondered that t
the Kenya shilling had been steadily containing it's value in terms of the us dollar for that matter.

 

[Nomad]

Crypto market is affected by the big economies. For instance, recently US reduced the interest rates which caused the sudden surge in the market.

 

[kit_hung]

The US dollar is the standard for measuring the price and value of all cryptos. Apart from that, does the strengthening or weakening of the United States dollar have any effect on the price of bitcoin. Seems the weakening of the dollar is good for bitcoin.

What do you think?

The strength or weakness of the US dollar affects the price of Bitcoin to a large extent. When the dollar weakens, many investors start looking for alternative ways to store the value of their money, and that is when Bitcoin appears to be a better option. This is because Bitcoin is not subject to government regulation and has a limited supply, making it a safe haven during economic changes. On the other hand, when the dollar is strong, people prefer to invest in traditional assets like stocks or bonds, reducing the interest in investing in crypto.

 

[wisdom01]

I think there is an opposing relationship between the price of the United States dollar and the bitcoin. If the dollar gets stronger, bitcoin would be weaker.

That's a common view! A stronger USD often means a weaker Bitcoin, as investors tend to flock to traditional safe-havens like the dollar during economic uncertainty.