Bitcoin is continuing its bull run, approaching $20,000, even as the US dollar declines. As a Bitcoinist report stated, the USD Index reached 90.22 on the 3rd of December. The report added that this is the lowest the US dollar has been since April 2018.
The chief investment officer who also serves as the chief US equity strategist for Morgan Stanley, Mark Wilson, has forecasted additional USD loss. Specifically, Wilson said the USD would decline by 10% over the next year. Speaking to Bloomberg, the Morgan Stanley executive said that the US government and the Federal Reserve have been “most aggressive with structural deficits” as the global health crisis persists.
He said further:
“A weaker dollar is helpful for the world. A stronger one is more of a constriction on global health… It is ultimately a positive story for reflection.”
As the dollar falls and analysts predict further losses, Bitcoin gears towards a $20,000 milestone. Currently, BTC is up 3.84% to $19,555.37.
During the Bitcoin mid-march crash, the US dollar was up and increased by 8%. At that time, the price of Bitcoin dropped by nearly 60%.
Image Credits: Pixabay
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