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RE: The almighty price of Bitcoin
Pretty good explanation. How much does the btc alt coin trades influence the btc price? As no fiat money is entering the market?
Pretty good explanation. How much does the btc alt coin trades influence the btc price? As no fiat money is entering the market?
Very hard to give an accurate response to that, but considering that Bitcoin is the gateway for most fiat holders into altcoins, the rising tide of the altcoin demand definitely contributes to the increase of buying pressure from USD(T) to Bitcoin.
Now that high BTC fees incentivize people to use other currencies rather than Bitcoin, it makes sense if Bitcoin becomes less of a gateway and bottleneck in the months ahead.