...I do think that the growth of bitcoin prices is kind of an indication that the dollar is losing credibility...
This conclusion is kind of problematic. Bitcoin has outperformed every other currency and every other asset class
on this planet as well. Therefore you can´t really argue that the dollar is losing credibility, because compared to
Bitcoin everything has lost credibility.
However, you are probably right that the dollar has lost credibility.
Take a look at the development of the purchasing power of the $ over the last decades:
US printed a lot since 2008 and also nations are buying gold. Things are getting weird and they will not stop printing.
Yeah, there's no way that China and Russia would be importing and stockpiling Gold like crazy if they didn't know that the PetroDollar as reserve currency is one day going to end. When exactly, no one knows, but from the rate of increase in their Gold holdings we could be as little as a decade away, or still two decades out. But make no mistake, the dollar is slowly dying. Everyone needs to be prepared by stocking up on a little Gold, Silver, Bitcoin, and other deflationary assets.