Will 2021 be the worst year ever for the US dollar?

The dollar has been getting hit hard as of late and some believe there is a lot more pain to come.

Specifically, Peter Schiff made headlines today when he predicted that the 2021 might be the worst year ever for the dollar.

His quote can be seen here:

“The U.S. dollar is now trading at its lowest level against the Swiss franc since Jan. of 2015. This is a harbinger of things to come. The franc is leading the way, but other currencies will soon follow. 2021 may be the worst year ever for the U.S. dollar, at least until 2022."

(Source: https://cointelegraph.com/news/bitcoin-gold-to-benefit-as-peter-schiff-predicts-worst-year-ever-for-us-dollar)

The weekly chart of the US dollar can be seen here:

(Source: https://www.tradingview.com/symbols/TVC-DXY/)

Looking pretty bearish eh?

I would like to point out that I actually think the dollar is going to bounce here soon due to how oversold it is getting, so it won't be a straight line down.

Bitcoin will benefit bigly if he's right...

Notice how Schiff didn't mention bitcoin in that quote above?

I guarantee you that if other currencies do well against the dollar and the dollar continues to fall, bitcoin will do very well as well.

Do you know how I know that?

This is how...

(Source: https://www.tradingview.com/x/OXgQmEOE/)

Do you notice the negative correlation between the two?

When the dollar falls, bitcoin flies.

That is a pattern I expect to be true basically forever.

So, if Schiff is right and 2021 is a terrible year for the dollar, expect bitcoin to absolutely fly.

Just another tailwind in the growing list of tailwinds for bitcoin heading into next year.

Stay informed my friends.

-Doc

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