CryptoCurrency : Question on Price and Fiat $/£ vs currency exchange movements
Can someone confirm the below or have I got it wrong. Thank you
* e.g if the price to buy 1 BTC = $6,513 which is = £5,089
* Given the current exchange rate is: £1:$1.2800
1) Assuming the pound £ falls to £1:$1.1200
I now have to pay £5,815 to buy the equivalent 1 BTC – Correct?
2) Now assuming the pound crashes and falls to £1:$0.6700
I now have to pay £9,721 to buy the equivalent 1 BTC – Correct?
3) Now finally assuming the pound strengths and rises to £1:$1.9400
I now have to pay £3,357 to buy the equivalent 1 BTC – Correct?
If the £ crashes, I will be ***** regardless of the increase in gains in Crypto?
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