What happened to BTC's price in Australian dollar (AUD) terms?

After BTC hit this low, the volatility of BTC’s price in Australian dollar (AUD) terms was minimal throughout December. However, since the beginning of 2023, several pieces of economic data have spurred a rally across digital and traditional asset markets.

How will the Aud perform in the future?

It's extremely difficult to predict how any currency pair will perform in the future. Inflation, interest rate hikes and the threat of a recession all have the potential to impact currency values here and overseas, while economic developments in China can also have a significant effect on the AUD's performance.

How will the Aud price affect the price of bitcoin?

Hence, it’s difficult to predict how the price of AUD will affect the price of Bitcoin. Additionally, the relationship between the two is not fixed and can change over time, so it’s important to keep an eye on current market conditions to understand the relationship between them.

Why did the Aud fall in 2023?

At the start of 2023, 1 AUD bought 0.68 USD. The AUD recovered against the USD in June reaching $0.687 but since then it's hit a new low for the year at 0.634 USD. According to the Commonwealth Bank, "The main reason for the fall in AUD is the fall in commodity prices.