I'm soo confused by trading across markets..
By my logic, if the power of the dollar goes down by 5%, of course something is gonna be about 5% more expensive... Like that loaf of bread that was a dollar is now a dollar five... So did Bitcoin really go up 6.5% or whatever? Or did it just adapt to the dollar being 5% or so less powerful?
Of course the article is talking about the pound, but that's just some forex magic to convert to usd, amirite?
That's what they told us about buying power and inflation along with all the other good stuff in highschool economics right? Do they still teach that, and has it gotten better if they do? Cuz like, technology and shit ..
I'm just a simpleton who knows literally nothing about economics (especially at scale), but my logic feels right.
Nah it's really complex and there is no way to calculate these things because it's an equation with a thousand different variables. Trying to isolate a variable is impossible, but people do it anyway and just hope their guess is correct and that the other variables don't matter as much.
When it comes to liquidity it's very impressive that Bitcoin is holding ground in an environment like this. Fiat has x1000 more liquidity than Bitcoin. Bitcoin holding support while USD dominates is pretty spectacular.