Blockchain Bites: Bitcoin Trades Sideways as US Inflation Is Muted
The line of sight on U.S. inflation is anything but clear after the Labor Department reports the CPI's smallest yearly gain since 2015. So what does it mean for bitcoin?
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This special edition of Blockchain Bites covers everything you need to know from invest: ethereum economy and the news from elsewhere in the cryptoverse.
Crypto markets are trading sideways, while Spain's second-largest bank is reportedly planning a leap into the digital asset industry.
After jumping to a 4-month high of $2.100, Litecoin is consolidating near $2.000 as bulls take a breather while the market participants await a correction. Today's price level of $2.008 is relatively unchanged from yesterday's $2.013 as the cryptocurrency trades in a tight range of $1.980-2.030. However, after a terrible day at work, bears might not make a resounding comeback very soon, so buyers can remain at ease. An analysis of the 240-minute LTC-USD price chart signifies that the muted action in Litecoin will not last for long, and that the breakout from the thin range will most likely....
When I was a child, a long time ago, there was one book in our house we always deferred to for knowledge. It was primarily a dictionary, published in London during the nineteen-twenties. It included sections of weights and measures, told us about perches and jeroboams as well as giving us the correct forms of address should we wish to write to a Cardinal or an Ambassador. It also included rates of currency exchange. A Pound (Sterling) was worth four Dollars (US). Changes in this rate were not foreseen to be a big problem and for that matter neither was inflation. Picture by Bank of....
Inflation is one of those read-the-small-print kind of taxes that people don’t often think about even though it can have a major impact on their finances and, thereby, on their lives. Rising long-term inflation is more insidious than you might think because it can steadily and most assuredly decrease the value of your earnings/savings – especially, if your taxes aren’t indexed to compensate you for the cost of inflation. Inflation has always been the bane of many businesses and individuals alike. One thing is clear: something needs to be done. If cryptocurrency, perhaps Bitcoin, was....