Bitcoin price is rising because of the Devaluing of the US dollar

[BrolySSJ 7899]

According to an article posted on Coindesk, it appears that the bitcoin may be increasing in price due to the devaluing of the US dollar that we have seen lately. In the recent month the US dollar has lost a considerable amount of its value, in comparison to the rest of the year, and according to Morgan Creek, this is the reason that bitcoin is increasing in value. 

 

As we all know, since the value of bitcoin is often given in terms of the US dollars, an increase in the price of the US dollar is seen by a decrease in bitcoin price and vice versa. Mark Yusko, the founder and CEO of a capital management company says that in order for the investors to combat the inflation prices caused by the devaluing bitcoin, they should invest in bitcoin and gold. 

 

It is with this thinking and mentality that the demand for bitcoin has gone up and with the weakened dollar, we have seen great increases in the price of bitcoin. This to me, makes a lot of sense and if those that choose to invest in bitcoin now, may see the rewards later on if the value of the dollar does not regain its position and strengthen. It can be a great way to combat the inflation as is indicated in this article. 

[JesusFries 1958]

If that's the case, then there's a high possibility that the price of Bitcoin may fluctuate anytime. I believe that the price of USD decreased due to the pandemic which resulted to the increase in the price of Bitcoin; then, the value of the latter will surely decrease if the pandemic is over and US Dollar will climb back to its spot. Anyway, I love your articles!

[hani20980 2706]

There is many reasons for this high increase in bitcoin price and devaluing of the US dollar could be

one of them but i think the main reason is the high demand, the last hardfork and the good news

like paypal adoption of cryptocurrencies

[Ezra 630]

20 hours ago, JesusFries said:

If that's the case, then there's a high possibility that the price of Bitcoin may fluctuate anytime. I believe that the price of USD decreased due to the pandemic which resulted to the increase in the price of Bitcoin; then, the value of the latter will surely decrease if the pandemic is over and US Dollar will climb back to its spot. Anyway, I love your articles!

@JesusFries i agree with you that, US is facing right now a difficult situation and some of the business are closing so the demang for non necessary thing is decrease and other's investor look back from the business but thats have a affect in the value of bitcoin. But the always say of the members we have no guarantee when price will stay rise. There are disadvantge of USD Is decline when you exchange the bitcainn money the value will be decrease too.

[Frodler 943]

The rise of Bitcoin price Is just as we have all expected, predictions from the beginning of the year has confirmed these rises a long time before now, and I suppose it hasn't gotten to the highest level yet. 

[Michar1 1693]

If it is true, the dollar is falling in price again, that is something unfavorable, the advantage is that the price of bitcoin rises but the dollar falls, I heard that it is also because they continue to print more and more dollars which is causing it to fall.

[Froshk 1828]

Btc price is continuing to fall in line with the predictions that have been carried out 4-5months ago, although one is not sure how long these hike in price of btc Will last,I think now is the moment we have all been waiting for.

[Fixfin 2569]

Bitcoin price is rising in all currencies not only in dollar, as there is less devaluing of the dollar today happening but there will be perhaps in the future if the fed keeps with printing more trillions of dollars daily and making the inflation fears come true. 

[Amiami 1362]

For years bitcoin has been used as a refuge in case inflation takes over the market, a clear example of this is the situation in Venezuela and Argentina, where the adoption of cryptocurrencies increased due to the constant devaluation of the national currency .compared to the dollar.

 

Therefore, this factor could explain the increase in the price of bitcoin, since the uncertainty within the United States due to the recent elections and the constant confrontations between various political groups has generated that the economic stability of the nation is not assured.

 

BTC to moon 🌕

[Syedbesharat 5423]

If this is true then the BTC adoption is increases and USD becoming weak. The BTC price increase will strong the BTC and USD willndecline but it have government  where they will not accept lose easily they will fight back and start working the BTC. May be we seek in next week BTC price fall or fluctuations in BTC price. This could be suddenly droo of $1-2K. 

[1qDan 478]

definitely the devaluation and instability of some currencies has caused the price of bitcoin to increase significantly, but I believe that there are other factors such as the intervention of the Chinese government in mining.

 

Which may or may not drive away investors or companies that mine in that country, it is rumored an exodus of miners to European countries

[Froshk 1828]

Come to think of it, whenever that value of dollars is slightly devalued, the corresponding effect on bitcoin is a marginal increase in value also, I believe there's an inverse relation between these two currencies

[bogdanoff 3173]

I read a news report yesterday talking about USD having being devalued 10% to the Chinese Yuan since May. The USD is in very bad course that can create unstable inflation and could be out of control for a few years. The FED talks about 2% inflation but I think it will be higher perhaps 10% something that happened in the 80s in america. 

[Zeshan Khalid 2577]

During the pandemic situation the USD price have been falling this is one factor in the increase of bitcoin price but still there are many other features which are also affecting the price of Bitcoin.

[annayks 2314]

The dollar is not doing great and perhaps the devaluing of it, pushes investors into store of value assets like gold and lately Bitcoin. We have seen Microstrategy making a big move to invest close to 500 million in Bitcoin for this reason as interests in bonds are turning negative meaning endless printing spree.

[yonkii 3205]

If I owned dollars today I would feel very frightened with everything going on. I don't feel good with euro either or other fiat currencies. Maybe the yuan is better in some ways from other fiat but all these fiat were created again after the WW2 and now are close to being 100 years old. The euro is based on the German mark and is following this currency. The dollar seem to be over soon, maybe in 10 years or 20 years it won't last. Bitcoin is there for the people that understand what to do.

[Masterrex 559]

On 11/20/2020 at 9:43 PM, BrolySSJ said:

According to an article posted on Coindesk, it appears that the bitcoin may be increasing in price due to the devaluing of the US dollar that we have seen lately. In the recent month the US dollar has lost a considerable amount of its value, in comparison to the rest of the year, and according to Morgan Creek, this is the reason that bitcoin is increasing in value. 

 

As we all know, since the value of bitcoin is often given in terms of the US dollars, an increase in the price of the US dollar is seen by a decrease in bitcoin price and vice versa. Mark Yusko, the founder and CEO of a capital management company says that in order for the investors to combat the inflation prices caused by the devaluing bitcoin, they should invest in bitcoin and gold. 

 

It is with this thinking and mentality that the demand for bitcoin has gone up and with the weakened dollar, we have seen great increases in the price of bitcoin. This to me, makes a lot of sense and if those that choose to invest in bitcoin now, may see the rewards later on if the value of the dollar does not regain its position and strengthen. It can be a great way to combat the inflation as is indicated in this article. 

I think that's not the ultimate reason, Since US$ was devalued only a few cents that's why it can affect or drive the Bitcoin price even in the short term, Those experts are only saying it as an example, but indeed "Gold and BTC" is a good investment option, but IMO, the real driver of this Bitcoin and Altcoins growth is the new capital that was induced into the Market by the big "Institutional Investors" for me that was relevant sort of explanation. 

[ajabe2 1485]

I don't think that the reason for the increase in the price of bitcoin is what you said. Because if you are right, then the national currencies should increase against dollar or should the price of gold go up like bitcoin. But this isn't happening. So I think the big investment institutes have realized that bitcoin is an primary store of value and will soon hit new record highs and they are starting to buy Bitcoin.

[Mella 3680]

I am in fear of all the currency that are start to have many problems that are came out with corona. It seem this was a very bad structure to base money and all the fiat are have problem, not only dollar but everyone. I am feel safety with have only a few in Bitcoin. Everyone in my opinion must have this goal to increase the Bitcoin as much possible while we are still here early.

[Cleaner 2549]

18 hours ago, yonkii said:

If I owned dollars today I would feel very frightened with everything going on. I don't feel good with euro either or other fiat currencies. Maybe the yuan is better in some ways from other fiat but all these fiat were created again after the WW2 and now are close to being 100 years old. The euro is based on the German mark and is following this currency. The dollar seem to be over soon, maybe in 10 years or 20 years it won't last. Bitcoin is there for the people that understand what to do.

@yonkii..The rise in the price of Bitcoin has nothing to do with the US dollar.  Because we know that the price of Bitcoin depends on supply and demand.  As the demand for Bitcoin increases, so will its price.  So in my opinion there is no correlation between the price of Bitcoin with the rise or fall of the US dollar. 

[yonkii 3205]

9 hours ago, Cleaner said:

@yonkii..The rise in the price of Bitcoin has nothing to do with the US dollar.  Because we know that the price of Bitcoin depends on supply and demand.  As the demand for Bitcoin increases, so will its price.  So in my opinion there is no correlation between the price of Bitcoin with the rise or fall of the US dollar. 

I hope you read all of my comment because what I said is not what you explain which is not wrong either as you discuss the law of supply and demand by Adam Smith, in this case lately, Bitcoin has seen a rising demand because of the fears of weakening of the dollar. Bitcoin is a store of value like gold and when inflation fears rise investors go to store of values.

[mahdititus16 216]

brother you are wrong because the bitcoin price is alone and dollar is alone you can not make those together , that is so simple brother , so that all my information about that and good luck .

[Joseph J 608]

I think that the increase the price of Bitcoin is due to the demand that has had after the pandemic Bitcoin has increased its value remember that Bitcoin is a Crypto currency and can fluctuate in the market, as for the USD is a stable currency like the Euro I don't think it devalues The rise in the price of Bitcoin has nothing to do with the US dollar,Bitcoin price depend on supply and demand.

 

[Mansoor sumaan 29 0]

Well that may be the reason of the increasing of the Bitcoin but there is also a reason that demand of Bitcoin is also increasing day by day. Maybe this is the second reason as you are saying that price of dollar is also going down as you are saying that dollar is devaluing. what we hope the price of Bitcoin is increasing day by day so it's price May reach to 20,000 dollars. Editor universal tools that falling off a currency will result in the raising of the other currency which is related to it.

[percare 3192]

The dollar is losing in value, but this loss is not obvious because it is all national currencies moving down together this time. There is no stable coin even the Swiss currency they are all suffering. Bitcoin is rising because of the future fears and people are afraid of the consequences high inflation will bring. Some currencies like the euro and the yuan have better fundamentals from the dollar and are not printing like the FED but they are nothing else but fiat too.