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CryptoCurrency : Question on Price and Fiat $/£ vs currency exchange movements

CryptoCurrency : Question on Price and Fiat $/£ vs currency exchange movements


Hi,

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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