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

[Abuhassan 89]

If the price of Bitcoin rises as a result not the value of dollar depreciate I think right now the value of dollar has regained it strength because Bitcoin is falling down again.

[Teminali69 1081]

Why this news is coming out soon after the drop, and it is not first time that soon after the drop from a bull news would come up why it was rising??????

[Abdulrahman3 1252]

One of the common mistakes that many traders make when looking at the value of a currency in relation to one currency all the time, and this may lead to not knowing the true value of the desired currency. If we want to know the value of Bitcoin, we have to look at its value in relation to the dollar, the euro and litecoin over the previous days.

[godislovefll 1880]

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

Según un artículo publicado en Coindesk, parece que el precio del bitcoin puede estar aumentando debido a la devaluación del dólar estadounidense que hemos visto últimamente. En el último mes, el dólar estadounidense ha perdido una cantidad considerable de su valor, en comparación con el resto del año, y según Morgan Creek, esta es la razón por la que Bitcoin está aumentando de valor. 

 

Como todos sabemos, dado que el valor de bitcoin a menudo se da en términos de dólares estadounidenses, un aumento en el precio del dólar estadounidense se ve por una disminución en el precio de bitcoin y viceversa. Mark Yusko, fundador y director ejecutivo de una empresa de gestión de capital, dice que para que los inversores combatan los precios de inflación provocados por la devaluación de bitcoin, deberían invertir en bitcoin y oro. 

 

Es con este pensamiento y mentalidad que la demanda de bitcoin ha subido y con el dólar debilitado, hemos visto grandes aumentos en el precio de bitcoin. Esto para mí tiene mucho sentido y si aquellos que eligen invertir en bitcoin ahora, pueden ver las recompensas más adelante si el valor del dólar no recupera su posición y se fortalece. Puede ser una excelente manera de combatir la inflación como se indica en este artículo. 

Incredible everything that has caused the pandemic, well it is something strange but it has its logic this is possible as you mention, hopefully and when the dollar is restored the btc will not fall in price and generate losses to those who are entering these days.

[DreamStage 2105]

I still believe that the fact for such dollar devaluation is caused by the current COVID's Pandemic in a sense that those people are not able to gain more dollars due to the rising of inactive jobs as well as new investors trying to solve their financial life issues with cryptocurrencies.

 

If you think about it, dollar gets devaluated because people can't simply use it at world situations therefore people are willing to use other alternatives such as virtual currencies.

 

That's my take on this particular topic.

[Gluttony 1775]

Well, it is not surprising since bitcoin and dollars are paired in the market for trading, so I think it has something to do with that. Devaluing an item or any thing means that you are dropping the value of that specific item which could make their equivalent to change as well since the price range of the item would drop then the other side would rise since they are partnered with each other in which the cause of bitcoin and dollars is in trading. They are partnered means that they are rivaling with each other to which one is more dominant.

[Brandonsaw 1973]

I do not believe that bitcoin there increased by the devaluation of the dollar although it could be true the same but I do not believe it because the dollar is physical and is not in the blockchain technology so I do not believe it that bitcoin increased the price by the demand of  you buy because right now many people want to invest in bitcoin.

[Sykkuno 2887]

The dollar doesn't devalue in a day, what matters is the power it holds for purchases. This means higher inflation. It takes for everyone to find out that the dollar has been massively printed and when this happens there will be panic.

Edited December 5, 2020 by Sykkuno

[kryptonick 2659]

It is not very easy to explain but it is not that the dollar has collapsed by 75% that helped the price of Bitcoin looking better. The dollar has some problems which can become bigger and Bitcoins rise was not because the dollar collapsed, because it didn't. It dropped but not this much yet. And Bitcoin is probaly not a solid store of value right now to support this argument.

[Jromz 2158]

I heard this hypothesis before, and it does make some sense to me. After all, if US dollar is depreciating, value has to be moved somewhere, and at the moment Bitcoin seems to be the right choice for this. Interestingly, though, the price gold has been also declining in the last few days. Then, it'd be interesting to see how markets will continue to evolve in the near future. 

 

 

 

 

[Goyaa 2414]

It seems that there is a possibility that the increase in the price of bitcoin is influenced by the decline in the dollar, so far we have used the US dollar benchmark as the price of bitcoin, if the dollar value goes down, of course the value of bitcoin will increase. But I don't think that's the main trigger, the decline in the US dollar has only a minor effect on the price of bitcoin. The main cause of the increase in bitcoin prices, in my opinion, is still influenced by the halving.

[pablomarwan 3082]

Increasing investment in digital currencies would increase their price value. But if the dollar rises again, this will indicate a decline in digital currencies. And if it is true and reliable news, then we can track the price movement of the formation only by tracking the dollar. Here I see some negative points. If we rely only on this news, we are in danger.

[jappy 1129]

On 11/20/2020 at 9:43 AM, 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. 

It has some logic, but nevertheless it is something difficult to determine because a pandemic was involved that considerably altered the economy of the whole world and perhaps these declines in the dollar are due to this more than anything.

[Yoanny 232]

The reality is that these last months have not been very good for the dollar, because of the pandemic its value has fallen, although it is necessary to know if this trend will continue in the future or after the vaccines for the covid become effective the situation for the dollar will improve.

[Frodler 943]

3 hours ago, Ghetea said:

This might be true especially with the current economic crisis ravaging the world due to the pandemic cause the price of bitcoin has been on an increase since last month which even makes the predicted $20k value looks achievable this year

Offcourse these is true, the pandemic has caused most fiat currencies to depreciate in value due to little or no circulation. 

[yulitzacalvete 1366]

This has some logic and that thanks to the pandemic many people have known cryptocurrencies, so perhaps their assets are already in cryptocurrencies and not in tangible dollars.

[sormis 567]

yes we are know that now a days increasing bitcoin price so that there are many people work this site and earn money.this is very good and trusted site in the online market.

thanks

[Dormilon 2183]

On 11/20/2020 at 9:43 AM, 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. 

@BrolySSJ I read that article and I also agree with him in his statement, the revitalization of the internal economy of the United States will call for the investment of capital towards a safeguard currency such as BTC, many investors will receive capital with the injection of dollars that the FED will make to the country in future months and they will look for the way towards the purchase of BTC, a dollar at a low price does a lot of damage to the economies of other countries but the US economy makes more dynamic, greetings.

[Serbberq 724]

The bitcoin price have no business with the dollars, they are two different economy system. Prices of bitcoin depend on demand and supply to pumps or dumps, while dollar depends on the government  regulation. 

[zhoutong 2188]

The dollar is dropping a lot in the market and a part of the rise in Bitcoin price is this, but not all beause there was a lot of demand for Bitcoin that led to many new investors holding hundreds of thousands of BTC and exchanges having less bitcoin available now.

[cryptovlek 2597]

If the dollar is devaluing so much then it is all fiat that do that, but I haven't seen so much inflation. Perhaps in america it is different but for the euro it is not, prices are find and inflation is very low, the euro strength is represented in the euro/usd pair that is up a lot lately. But Bitcoin is also rising in euro so this is not the reason for the price rise.

[ibrahim halil anaç 138]

There are many reasons why the price of bitcoin is rising and the US dollar is depreciating. Among these reasons; The Covid-19 epidemic, internal turmoil in the USA, the continued rise of Bitcoin and the growing trust in bitcoin; consequently, the demand for bitcoin is increased.

[susan8929 811]

I also think that the devaluation of the dollar and the world situation have been some of the reasons for the rise of Bitcoin. Although after all these months it's also clear to me that btc has displaced gold a bit, because gold hasn't gone up as much as it should and I think it's because Bitcoin is getting more money.
I think that in the coming months the world situation will remain similar to that of 2020 and the dollar will be weak, especially if the US government continues to provide stimuli, so it can be a great opportunity for Bitcoin to continue to increase in price.

[Jack07 316]

On 11/20/2020 at 7:43 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. 

The reason behind the increase in the price of Bitcoin is that if the supply and demand is high and the demand is low then the price of the coin will go down.If the supply is normal or low and if the demand is high then the price will go up.

[velasco19 1753]

On 7/1/2021 at 9:04, susan8929 said:

También creo que la devaluación del dólar y la situación mundial han sido algunas de las razones del ascenso de Bitcoin. Aunque después de todos estos meses también me queda claro que btc ha desplazado un poco al oro, porque el oro no ha subido tanto como debería y creo que es porque Bitcoin está obteniendo más dinero.
Creo que en los próximos meses la situación mundial seguirá siendo similar a la de 2020 y el dólar estará débil, sobre todo si el gobierno de Estados Unidos sigue dando estímulos, por lo que puede ser una gran oportunidad para que Bitcoin siga subiendo de precio.

I agree, the incentives that the Biden government is and intends to grant will only generate more inflation and can make the Dollar weaken, analyzing the Dollar index it is seen that at this moment it is in an important support and if it loses it it can be disastrous for the US, everything that is a reserve of value will increase its capitalization and this year it is expected to see the consequences of the pandemic according to analysts.