If the dollar continues to depreciate, commodity prices will continue to rise, as crude oil is priced in dollars and investors will pour money into commodities to ward off inflation losses. These dynamics can make the dollar free fall. In this case, the US economy will be stuck in the trap of recession and inflation. could cause a catastrophe in the US financial system, then spread into a global financial shock.
I am agree with your opinion. If dollar fall the value, most investor will looking on Gold or others commodities. Bitcoin right now like commodities and i am believe it give big effect to bitcoin price.
I think people can leave bitcoin and chose other other investing things like stock, Gold or silver.Also decreasing the USD can effect worlds currencies too. More the price decrease more the profit we lose.