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Disclaimer: The blog posts and comments on this blog and posts on social networks are not investment recommendation, are provided solely for informational purposes, and do not constitute an offer or solicitation to buy or sell any securities. The opinions expressed on the blog are Petar Posledovich's. Petar Posledovich does not guarantee the accuracy of the information presented on this blog and social networks. The information presented is "as is". The blog is stocks analysis and valuation, Bitcoin, Cryptocurrencies, Artificial Intelligence, AI, deep-learning focused. Independent, unbiased AI insights. Petar Vladimirov Posledovich is not liable for any investment losses incurred by reading and interpreting blog posts on this blog and posts on social networks. Conflicts of interest: I may possess some of the securities, currencies or their derivatives mentioned in the blog post and posts on social networks! The blog is property of Wolfteam Ltd. www.wolfteamedge.com Respectfully yours, Petar Posledovich

Monday, October 24, 2022

Does the USD Influence Bitcoin?




Yes. 

Bitcoin's price moves inversely to the USA exchange rate to major currencies, as almost all commodities's prices do.

Actually, Bitcoin is considered a commodity by the Securities and Exchange Commission. This can be due to the fact that Bitcoin's creation/production requires huge amounts of energy.

However, Bitcoin will sooner or later move in the same direction as the USD exchange rate, I forecast.

Because Bitcoin's main function is to at least partially replace the United States Dollar. One Russian journalist. I think once said that Bitcoin is USD 2.0 or with other words Bitcoin is a perfected, online version of the USD, the main world's reserve currency.

Actually, this is a unique situation. Never before have two currencies, a leader and a challenger developed simultaneously.



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