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/biz/ - Business & Finance

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9099054 No.9099054 [Reply] [Original]

What happens to the price of BTC if a shitcoin is sold for BTC? Bitcoin is bought but does this mean a price increase in dollars?

>> No.9099083

>>9099054
Of course it does. Price is a function of demand (+) and supply (-). The supply of Bitcoin is unchanged and the demand increases --> price goes up.

>> No.9099131

>>9099083
So you mean someone is taking BTC out of circulation for at least a bit and not using BTC'S buying power but rather putting their money of BTC increasing, therefore lesa supply therefore higher price?

>> No.9099280

>>9099131
No, you stupid nigger, it's just supply and demand, read his post again

>> No.9099310

>>9099054
yes but only in that pairing i.e

>chainlink/btc pairing is at $8.6k
while
>usdt/btc is at $8.5k

different pairing different prices

kinda like how every currency in the world is weighted against the dollar, btc is cryptos dollar