This is bad news for most, however it is good news for bitcoin that benefits from inflation and loose financial policies. Keep hodling!
This is not wrong, bitcoin is still highly speculative, young and appreciate over time after series of volatility, but there will be price valuation over time, the best is to just hold bitcoin which has limited supply. Unlike fiat, the government control the price, the control is always in the depreciative direction, but what most contry suffer is the negative effect of covid-19 which is resulting to inflation, but bitcoin even increased during the pandemic.
I don't know if it's good news for Bitcoin enthusiasts, cause we all reside in one country or the other, Bitcoin is not at mainstream adoption yet, meaning fiat remains the most popular method of payment for most of us, if hyperinflation is the case in the country we reside in, then the cost of living goes high, prices of goods skyrockets, fiat currency gets devalued, thus whenever we exchange our Bitcoin back to fiat for one reason or the other, it affects us.
It is actually a good news for Bitcoin enthusiasts in this regard, bitcoin can easily be converted to with fiat, also Bitcoin can be converted to fiat when needed fiat, the last thing I can never do is to hold my country's fiat which is even more volatile than USD, I only have the ones I want to spend monthly with me. So if my country fiat has depreciated which is always happening, I always gained when I am converting Bitcoin into fiat.