Most asset prices like stocks and commodities prices are inversely correlated to the value of the United States Dollar to the EUR or a basket of the leading currencies.
Bitcoin should also be inversely correlated to the USD. In times of crises investors run to the safety of the global reserve currency which is the USD and the related US treasuries bond market.
Bitcoin is also vying to be a global reserve currency, be it in electronic from. So what will be the likely parallel development of Bitcoin's price and the value of the United States Dollar.
I think it is pretty much possible that USD and Bitcoin could both appreciate in the future, especially Bitcoin. Much like the price of oil and the USD did through various periods in the past.
Bitcoin could actually function as a safe heaven alternative to the United States Dollar, far away from governments' control. Human nature and many government failures in the past have built a huge distrust in the general public, the technology and investment community in particular, towards official government institutions and their ability to police financial markets, the information technology industry and handle crisis, both economic and political.
It is exactly this distrust in official authorities that is one of the main factors driving the incessant increase of Bitcoin's price in the last 7 years.
That is why, I think Bitcoin could end up functioning as a safe heaven asset in turbulent times.
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