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

[Farouk jubril 58]

I don’t totally agree with this, crypto currency is volatile we agree but then no fiat currency will determine its value no matter which countries currency it is. Crypto currency is bigger than any currency in the world currently because it is a decentralised system nobody has control over it

[Razan alikac 1899]

I think that the decline of the dollar due to other political factors and because of the elections and the increase in the price of bitcoin is the increase in demand for it and the purchase of large quantities of it, and I think it is pumped by whales.

[betania1 283]

This pandemic has been a hard blow to the economy of many countries, and now the dollar that has fallen in value, so this will boost BTC more in the world and provide more confidence for people who want to save their money, and BTC has managed to exceed 40,000 dollars and there is still more.

[abd1992 960]

On 11/20/2020 at 3:43 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 do not really think that Bitcoin rose because of the dollar, that Bitcoin rose due to the large number of new investors and the liquidity that entered it, and also today, many currencies are still stable against the dollar

[abdullah553 1981]

On 11/20/2020 at 3:43 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 really do not think that Bitcoin is rising due to the fall of the dollar, that the dollar is stable against the rest of the currencies, but Bitcoin has risen due to the entry of many new investors

[tienda 8776]

It is possible this is the reason why Bitcoin price rising, because of the devaluing of the USD. But I think the main reason of the devaluing of the USD, because of the USA political noise. This started when the USA election finished, so maybe after this month is possible the USD recuperate its value against Bitcoin.

Edited January 20, 2021 by tienda
changed "USA recuperate" to "USD recuperate"

[Onoru 229]

I do not think that is because dollar is losing its value that's why bitcoin is rising. That is not true. Bitcoin came up with strategies that aided it to get to where it is today. They manages it so well that its availability is scarce which make the demand to be on a high percentage. Thus, the rise and fall of dollars cannot affect the value of bitcoin. 

[Muhmmad Yousaf 306]

Dear Friend, Maybe you are right but it doesn't think that rise of BTC because of all in US dollar. Along BTC all other coins rate also rise. But Gold rates depends on dollar you never compare BTC with Gold both are different. Rise and fall of BTC and other coins is part of crypto world there is nothing new because of pandemic. 

[celeste10 251]

Exactly because the btc has not yet reached the general world population, this is because every day new people invest and prefer to use btc than dollar, so the btc will increase a lot and right now it is good to invest in the long term.

[isther69 522]

Yes, it's possible that this could be due to that, however this increase in the price of BITCOIN was already seen coming long before the decrease in the value of the dollar due to the arrival of the HALVING which would reduce to half the BTC that the miners receive as a reward for the creation of a new block, this was the reason that would increase the price of BITCOIN, perhaps this decrease in the value of the dollar accelerated its price increase that could even rise more.

[Angeln20 513]

Well I think if the article is that accurate then we may see a drop in the price of bitcoin.that's if the USD regains it strength, we may see a high in the sell of bitcoin which may weaken it price. But I doubt if the price if the precious coin would fall below $20,000 as against it current price.

 

[David84 1191]

Some economist claim that the USD is about to lose its value or most of it soon , because the united states is scamming the whole world by printing a currency that it does not have any gold preserve for it and it a way it has forced the whole world to deal with it and make all of the tradings between the governments in it , while it is worthy of nothing.

[Ameralsamt 2558]

No no dear, I don't think there is a relationship between the depreciation of the dollar in general and the rise in the price of Bitcoin, it is the characteristics of cryptocurrencies and Bitcoin it is decentralized, it is really better, and the reason for its rise to many new variables. 

[lilisbet18 231]

It is good for those of us who use cryptocurrencies, I am the one who thinks that, without a doubt, tangible currencies will be less used every day both for a biosafety issue and for all the impracticality that payment is, being a digital operation more feasible.

[Dang3r 103]

It is undeniable the fact that the United States and the dollar are at a crossroads from which they will not fare well, especially the dollar since it is supposed to be a store of value, which the new government plans to destabilize with the injection of thousands of millions in public spending, so many companies chose to bet and venture into cryptocurrencies, a clear example is GreyScale.

[Roan 2166]

I don't think the Bitcoin price is correlated so much with the movement of the US dollar

I think that the reason for the increase is the investors' vision towards Bitcoin, as it is considered the best investment to get good profits, which led to an increase in demand for Bitcoin, and thus its prices well increased

[Samotokika 1780]

On 11/20/2020 at 6:43 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. 

Yes dude the Bitcoin price is always fluctuate because it isn't fixed and Anything could happen at any time and it really depends upon US dollars and something depending upon each other value. 

[Wanderdark 2178]

That's true. The fiat currencies are doomed to decrease in value because the governments keep printing them in insane amounts. Now U.S. President Joe Biden announced the new corona virus stimulus package and it will be over 2 thillion united states dollars. There is no such money available so printing machines will work insanely in the following days. Imagine the value the dollars will lose. 

[Atif Aslam521 65]

Yes I agree with you because during Corona pendemic us dollar decrease and that's why bitcoin currency increase because bitcoin currency and US dollar is inversely proportional to each other