How does the price of bitcoin affect the peso exchange rate?

1 answers

• Dec 26, 2021 · 3 years ago
  As an expert in the field, I can tell you that the price of bitcoin does indeed affect the peso exchange rate. When the price of bitcoin rises, it attracts more attention and interest from investors and traders. This increased interest leads to a higher demand for bitcoin, which in turn causes the value of the peso to decrease. Conversely, when the price of bitcoin falls, it reduces the demand for bitcoin, resulting in an increase in the value of the peso. So, it's safe to say that the price of bitcoin and the peso exchange rate are closely intertwined.
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