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The price of BTC isn't rising as much as the dollar is dropping.
by psychlops 6y ago
The price of BTC isn't rising as much as the dollar is dropping.
- MichaelDickens 6y agoIf that were true, you would expect to see that: 1. The exchange rate between USD and other currencies fluctuates about as much as USD/BTC. 2. The exchange rate between BTC and other currencies is relatively stable, or at least uncorrelated to the USD/BTC rate. But in fact you see neither of these. So either (1) all developed-market currencies are seeing massive fluctuations that are all somehow perfectly correlated with each other, or (2) BTC is the one that's fluctuating, not USD.