Why tracking Bitcoin with fiat is crucial
Challenging a recent claim that tracking Bitcoin against fiat currencies is futile, this article uncovers the indispensable link between them. Understanding and interpreting the market dynamics is essential in a rapidly evolving cryptocurrency landscape. Recently, a claim was made on LinkedIn, challenging the practice of tracking Bitcoin’s (BTC) price concerning fiat currencies like the USD. LinkedIn post by Keir Finlow-Bates | Source: LinkedIn Keir Finlow-Bates, an advisor at Resonance Security, argues that media news reports are ineffective for measuring Bitcoin’s market highs and lows, suggesting a departure from traditional financial benchmarks. This article seeks to systematically counter the claim and explain why tracking Bitcoin with fiat currencies is logical and indispensable. Tracking Bitcoin prices in fiat currencies Finlow-Bates posits that tracking Bitcoin prices against fiat currencies using media news reports is unproductive and illogical. This st...