Is my mindset correct or wrong?

[kryptonick 2659]

It seems you are correct. There was a big disturbance and made markets react very bad. Oil was impacted exactly as the economy was moving and markets were saved because of the printing of dollar. Bitcoin had the halving and now is moving to a new all time high. It was impacted too for a while but made better than anything.

[Goyaa 2414]

I disagree with you, bitcoin price movements are not caused by world situations and conditions. Bitcoin price fluctuation is purely due to supply and demand. This increase was also influenced by the halving that occurred in 2020.

[Fixfin 2569]

It is interesting to think about all these diffenent and connected assets and industries. I agree with these thoughts and when events like something big like covid happened Bitcoin looked that it was failing as a store of value, but this was not right. Even gold dropped because of the panic in the markets. It was the speculators that left Bitcoin and passed the Bitcoins they held into big investors that show Bitcoin for a store of value.

[scofield64 943]

I think the price of bitcoin is affected by so many factors. Bitcoin is a decentralised currency and nobody controls it's Up's and down. Bitcoin will gain more popularity in the future. 

[leakydonney 1402]

Your mindset @nicolas1234789  maybe right or wrong because the value of Bitcoin can only be affected when it's users respond to the events as it's cannot be directly affected by political issues until it's users respond to political events although it can only be connected into political issues as a safe place to store value in the event of political upheaval, for example, when fiat currency is swiftly losing value.

Edited November 12, 2020 by leakydonney
Correction

[Izeal 4404]

Yes, you mindset is correct and you have to be very alert in every news about the cryptocurrency or related to that cryptocurrency. You have to be very alert from news because this coin price depends on the demand and supply of the people. 

[Umair976 10]

My opinion is that your mindset is right because i think BTC is a private property so it's not happening with it, price of BTC can't control by any government. Supply and demand changed the price of it.  

 Primary currency is working totally opposite of BTC which is controlled by government and it's rates changed which is depend on the volume of gold and oil.  

[entrepreneur 634]

I think that your mindset is correct, the us elections have definitely moved bitcoin's price higher and this was obvious, because the day the elections ended, bitcoin's price stopped rising.

[Syedbesharat 5423]

What you observe and get to conclusion is right but if you look into global news related to crypto you will find countries political and policies are effecting crypto movements like Italy implementation of tax over all his citizen who based oversee have to pay 20% or more tax to government. This kind of news are effecting crypto now a days. 

[bogdanoff 3173]

I label cryptocurrencies not as that but as money. We have bitcoin which is looks like gold coins that were used in earlier years and worth more if they are stored. I also see other coins as Litecoin as silver coins and maybe XRP and Bitcoin Cash as paper money, all in the form of digital money. It is simple of course to view them as this and they can change.

[cryptovlek 2597]

I think that Bitcoin is not there yet to be a hedge to every bad possible scenario. It is still undecided by the people that own Bitcoin. It is used for both a store of value and a speculation. It resembles the Nasdaq and the spx and sometimes it follows gold instead. It is about who holds and I think there is a battle of indecision there but the holders are not selling and this means there is a good sign of having a store of value asset into Bitcoin.

[iloveyobit 6599]

Crypto has become a large financial market and it has automatically associated with other financial markets, such as the forex market, and it is greatly influenced by the psychology of traders. If there is a prevailing fear its price will drop and vice versa.

[annayks 2314]

Event happened so it is found that it did some problem but it made Bitcoin stronger and the price is up a lot since then. Even fears of the rising pandemic didn't stop Bitcoin. I don't know what exactly you think about all the rest and try to compare, it is Bitcoin alone in my opinion and there is no need to compare.

[Francisco87 651]

On 1/8/2020 at 1:16 AM, nicolas1234789 said:

This day bitcoin has good movement but I see many people related this moment with global politic event, such as about USA president that suspected doing something bad. From this reason create negative impact into USD and giving bitcoin chance to fix his value. So far I know only currency and primary commodity ( oil ) will get impact if something bad happen in politic, I don't see any relation with bitcoin. Crypto movement only can moving by development program, economic issues and event. Is my mindset correct or wrong, give me your opinion please.

If my friend is correct, the price of bitcoin is closely related to the usd, when it tends to take value the price of btc falls and when the usd loses value the btc increases, there are also global problems such as the pandemic, many American companies left China and the price of BTC dropped considerably...

[Abdul1168782 572]

Yes you are right but digital currencies are not uder any government and their price and reputation only affects to their demand at buying and selling. So no one government control their price.

[iberahim 401]

Your mindset is right and you Dont have too worry about that because crypto currency is none government organization so it have not too do with political

[Brandonsaw 1973]

The government has nothing to do with cryptocurrencies since they were not the creators or even cryptocurrencies can be controlled.The cryptocurrencies their price is given to the demand for the purchase and sale that is what gives the price to cryptocurrencies if  It has a lot of demand to buy it will rise quickly in price and if it has a lot of demand to sell it will lower its price quickly.

[yonkii 3205]

I don't know what is exactly your point with all of this, but I think you are missing the bigger picture. Probably the reason you aren't in the forum anymore is this that you didn't try to understand what Bitcoin is and you tried to connect it with other assets. I feel bad but this is your loss and your decision that you probably missed, unless you had some enlightenment and didn't quit or sold during bad times.

[zhoutong 2188]

We have seen no complete relationship or correlation of Bitcoin with any asset yet. Sometimes moves happen together with the stock markets, other times interest increases by institutions and Bitcoin is escaping all trends. There is absolutely no relationship with oil and small one with gold.

[Adam adam 276]

This data plays a relative role in Bitcoin's movement, but the main factor for me in controlling the price of the currency is supply and demand, so the higher the buy order, the higher the price, and vice versa.

[RoyalHouse01 9]

not only fiat currencies but the cryptocurrencies too are effected by the political or other such issue just take the example of the recent outbreak of the illness and the btc market went almot fifty percent in one day.

[godislovefll 1880]

On 1/8/2020 at 2:16 AM, nicolas1234789 said:

Este día Bitcoin tiene un buen movimiento, pero veo que muchas personas relacionaron este momento con un evento político global, como el presidente de EE. UU. Que sospechaba que estaba haciendo algo malo. Por esta razón, crea un impacto negativo en USD y le da a Bitcoin la oportunidad de fijar su valor. Hasta ahora sé que solo la moneda y el producto primario (petróleo) tendrán impacto si algo malo sucede en la política, no veo ninguna relación con bitcoin. El movimiento criptográfico solo puede moverse por programa de desarrollo, problemas económicos y eventos. ¿Mi forma de pensar es correcta o incorrecta? Por favor, dame tu opinión.

I think that if it seriously affects the national currencies at the moment, it would, but everything will depend on how much volume of investors move their money to BTc and this would make the tangible dollar possibly lose its value and this may affect a lot to many countries that depend of this tangible asset.

[Farukatie 1271]

On 1/8/2020 at 11:16 AM, nicolas1234789 said:

This day bitcoin has good movement but I see many people related this moment with global politic event, such as about USA president that suspected doing something bad. From this reason create negative impact into USD and giving bitcoin chance to fix his value. So far I know only currency and primary commodity ( oil ) will get impact if something bad happen in politic, I don't see any relation with bitcoin. Crypto movement only can moving by development program, economic issues and event. Is my mindset correct or wrong, give me your opinion please.

Yes your mindset is right it never be done with bitcoin because it is a private currency and not depends on government and their prives just get high or low by the supply and demand of it. On the other hand oil and gold has corelate with each other.

[Zezo 306]

Political and economic matters are closely related to each other, and the impact of news on the price of Bitcoin cannot be ignored, even if it is affected less than oil and gold.

[Amiami 1362]

All socio-economic and political events affect the stock markets or rather the economy in general, Bitcoin and cryptocurrencies, are part of that system and obviously ends up affecting their stability.

 

That is why certain events such as elections or certain laws may or may not have an effect on the future of cryptocurrencies in certain geographic areas, which in turn could affect the price in general.