Okey so we all saw yesterday's huge bitcoin jump. We were all excited, well we still are, but there is something that I noticed today in the morning when I was on a train.
I am polish and we have PLN currency. When I was riding in the train on a screen in the train it showed current USD/PLN exchange rate.
It was 3.6!
I was really shocked because over last couple of months the exchange rate was stable between 3.75 - 3.85. That is a huge swing in one day.
Then when I finally sat at my computer the truth revealed to me.
This is EUR/USD chart. You can notice huge jump around 9 am 20.07.
And this is USD/PLN chart. Very noticable decline here.
So even though we are all happy that cryptos are on the raise now, let's not forget that we evaluate their value in comparison to american dollars - which is neither a stable currency so any swings we notice might be effect of BTC... or USD.
In this case graphs show us that probably the bigger impact had to do with overall USD decrease ( which we can assume when we compare it to other world's currencies ) then Bitcoin raise.
Just so you know: I am a big bitcoin, cryptocurrencies enthusiast and I'm only writing this post to share with you my knowledge. I myself have some BTC in my savings and I'm looking forward for it to grow as high as 100k$ :).
Let's just not forget that unfortunately we have nothing like stample denominator of "worth" and everything's price is only in comparison to other things. Maybe if we had such thing our lives would be much easier... but probably less exciting :P.
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