Are oil and bitcoin becoming less valuable? Or is the value of the measuring stick, the dollar, changing?
If you measured how tall your kid is every day and he's 5'1" one day and 4'8" the next and 6'1" the day after that, there just might be a measurement problem.
For whatever reason, the end of quantitative easing or whatever, the dollar is getting stronger.
And bitcoin also began the current downturn about the same time. I'd be very reluctant to link the dollar's increase with any of the decrease in bitcoin, even though it's an interesting discussion point, with some money potentially flowing out of bitcoin and into dollars (since it's gaining value, and likely to gain more if the Fed proceeds to raise interest rates this year).
That said, gold on the other hand has not taken a beating since July 1st despite the dollar's significant move:
If you measured how tall your kid is every day and he's 5'1" one day and 4'8" the next and 6'1" the day after that, there just might be a measurement problem.
For whatever reason, the end of quantitative easing or whatever, the dollar is getting stronger.