Quote from: davis196 on August 15, 2020, 12:08:18 PM

Quote from: pooya87 on August 15, 2020, 06:16:49 AM

Quote from: Agios on August 15, 2020, 12:33:57 AM

In recent weeks, the price of Bitcoin appears to have been driven by one main factor, namely the weakening of the US dollar.

US dollar losing its value is not something that happens over night, it is a slow process whereas bitcoin price went up about 30% in a short time. this particular rise has nothing to do with US dollar and its "weakening".
overall, there is definitely a connection but we will only see said effects over the long haul.

Quote

The Rekt Capital Twitter account supports the analysis,

oh some random dude on twitter, so it must be correct /s

3 months ago,one dollar was selling for 1.79 Bulgarian leva,now 1 USD is selling for 1.66 BGN.
There's a significant fall of the USD price,even compared with a very small national currency like BGN.
I think that making comparisons between the USD and other major currencies like euro and British pound isn't showing the real decline of the USD,because the EUR and the British pound are going down as well.
Many investors hedged their USD reserves by buying BTC,so the Bitcoin price went up.

actually if you want to know whether or not value of a currency has fallen you shouldn't compare it with another currency (even though most of the times it could be correct). in this case for instance it doesn't matter if USD is worth more or less against some other fiat, what matters is its purchasing power. for example did the rents go up? did the groceries go up? did the utilities bill go up? etc. all of these are going up because USD is declining in value but as i said over the long haul not in short term and not big like by 30%, at least not at the moment.