Post
Topic
Board Speculation
Re: Bitcoin Rise Due to Lower US Dollar?
by
Oasisman
on 15/08/2020, 21:50:23 UTC
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.

Bitcoin isn't as safe as Gold because of it's very volatile nature. I don't think a lot of people would divert their wealth and store it to Btc. This significant rise maybe due to crypto enthusiast storing their wealth before the devaluation of national currencies become even worse.
The USD isnt the only currency that was down today, and not only the people from the United States are the investors/users of Bitcoin. Therefore, there's no strong correlation between the weakening of USD to Btc.