No one can predict the future, but increasing global debt, slow economic growth and expanding central bank balance sheets have the potential to weaken the dollar and investors seek safe areas in assets like gold and Bitcoin.

In recent weeks, the price of Bitcoin appears to have been driven by one main factor, namely the weakening of the US dollar. This correlation is evident when comparing the US dollar index against Bitcoin.
The inverse correlation between Bitcoin and the US dollar is supported by technical analysis on the price chart. The Rekt Capital Twitter account supports the analysis, that Bitcoin has broken an important resistance level. Bitcoin price is unlikely to fall below that level, which is at the level of US $ 8 thousand.

In addition, Bitcoin was successfully closed at the weekly price above the US $ 11,400 resistance area.