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.
The factors like global debt and a slow economic growth and on top of that the pandemic has put a lot of strain to the economy and you can be attributed that the rise in the price of
BTCitcoin and other cryptocurrency market is due to these factors and no one can have a different debate as there is no concrete evidence on why all of a sudden huge investors are investing heavily in the market. You cannot call the cryptocurrency market a safe heaven and it is yet to prove that the market will sustain this growth if there is a global economic meltdown but these huge investors know that the market usually rises after every halving and they might be taking advantage of that common factor.
That's what I'm thinking, if bitcoin will continue to repeat itself then those big fat bag-holders are just preparing, accumulating
every cheap coins inside the market, allowing traders to enjoy this small rise that they've building around. Whales knows how
the sentiments of the traders and once they are convince, this people behind can triggered and point the direction according
to their plans.
In regards to US Dollar value, there's no clear information that it is part on why bitcoin value are surging, there's no connections
aside from forex investors who might be starting to divert their money.
I agree with you. Being both currencies and having moments on a certain period does not really correlate these two.
Bitcoin and US Dollar may both be affected by the macroenvironment however, but changes and impacts would not be really the same.
Reliable sources should be presented first before we could make such assumption regarding their connection.