Is there a correlation between the USD Index and Bitcoin?

[Suba]

Since 1944 the USD has become a global reserve currency, so the weakening and strengthening of the USD will affect the fiscal policies of other countries and the price of financial instruments, one of which is Bitcoin. To measure the average level of weakening and strengthening of the USD against a particular country's currency (busket currency), DXY or DXY Dollar Index is needed. Meanwhile, the currency used as the benchmark (busket currency) consists of EUR, Yen, GBP, CAD, SEK and CHF.

 

[Yohanna]

Based on the decline in the Bitcoin price movement it'll be very difficult to make bitcoin the world reserve in the future except if it make a rebound.

 

[Suba]

Based on the decline in the Bitcoin price movement it'll be very difficult to make bitcoin the world reserve in the future except if it make a rebound.

We need a long journey if Bitcoin is used as a world reserve, maybe we have to wait until Bitcoin has been mined so that the price of Bitcoin is more stable.

 

[Stardom22]

I think this would cost the world more time as the prices of the bitcoin is very down. as the bitcoin is to be set the world reserve. Therefore more of the coins would indeed be required for this to happen.

 

[Yohanna]

I think this would cost the world more time as the prices of the bitcoin is very down. as the bitcoin is to be set the world reserve. Therefore more of the coins would indeed be required for this to happen.

The situation about bitcoin would change if the whales keep accumulating it and even a single man like Elon Musk Could turn It around.