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In my first article, I found that USD searches are strongly related to bitcoin searches. One explanation for that is the devaluation of the USD against other currencies. The graph shows the development of the USD Index and #bitcoin 
price over the course of 2020. /1
price over the course of 2020. /1
Over the course of the year the US dollar index (DYX) devalued against other currencies. What is interesting that during the first half of the year where the DXY was mostly ranging between 95 and 100 bitcoin price moves in tandem with the DXY. /2
But once DXY breaks below 95 and the trend in the devaluation of the USD is confirmed the relation switches from a positive relationship towards a negative one. Where a devaluation in the USD seems to positively influence bitcoin price. /3
It will be interesting to see whether this trend continues over the course of the next year and whether the drop of the DXY below 95 and the coinciding rise in bitcoin price was just a coincidence or e.g. a tipping point for institutional investors. /4
If you haven't read my article yet, now is the time! If you like it share it and distribute it around! 
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#bitcoin $btc #corona https://jan-wuestenfeld.medium.com/the-corona-crisis-and-bitcoin-attention-e77a3887927b
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#bitcoin
$btc #corona https://jan-wuestenfeld.medium.com/the-corona-crisis-and-bitcoin-attention-e77a3887927b
