With This Month Set For Peak Inflation, How Will Bitcoin Price Move?
The U.S. CPI for December was released and this month could see peak dollar inflation. How will the bitcoin price reflect that?The below is from a recent edition of the Deep Dive, Bitcoin Magazine's premium markets newsletter. To be among the first to receive these insights and other on-chain bitcoin market analysis straight to your inbox, subscribe now.The news of today is the United States Consumer Price Index December release which came in at just over 7%. By many estimates, this could be the month that the rate of change in inflation peaks. If December is not the peak of acceleration,....
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Lower than expected inflation data sparks an instant rally in crypto, while the U.S. dollar pays the price. Bitcoin (BTC) regained $24,000 but failed to hit new multi-month highs on Aug. 10 as United States inflation appeared to be slowing.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewCPI cuts risk assets much-needed slackData from Cointelegraph Markets Pro and TradingView confirmed hourly gains of around $1,000 after U.S. Consumer Price Index (CPI) data for July showed a slowdown versus the previous month.While managing $24,179 on Bitstamp, BTC/USD nonetheless did not attract....
The United States Consumer Price Index data shows that inflation hit 7% in December 2021, climbing 0.5% month over month. Bitcoin almost reached $44,000 upon the news. The latest figures from the United States Bureau of labor statistics show that the (Consumer Price Index) CPI hit 7% in December. Bitcoin (BTC) was volatile prior to the announcement, fluctuating over $2,000 from lows of $41,000 to $43,000 on Wednesday morning. Upon release of the figures, the price continued its upward climb, touching $44,000. Prior to the announcement, Twitter was rife with speculation. According to a poll....
After April’s consumer price index (CPI) report was published, a number of American economists and bureaucrats said that inflation had peaked and it was possible that inflation would subside. However, statistics from the U.S. Labor Department indicate the CPI increased 8.6% from a year earlier, as the month of May’s inflation data reached another lifetime high. CPI Data From May Shows Inflation Has Not Peaked The U.S. economy doesn’t look so hot these days and after shutting down the economy over a respiratory virus and printing trillions of dollars in stimulus, it....
Inflation in the U.S. continues to remain red hot as consumer prices last month increased sharply to 8.5% in March compared to the same month last year. Metrics show the Bureau of Labor Statistics’ (BLS) Consumer Price Index (CPI) spiked last month at the fastest pace since December 1981.
Inflation Continues to Hammer the US Economy — White House Blames Putin
The latest data from the U.S. Bureau of Labor Statistics shows that inflation has continued to rise month over month in the United States. BLS published the organization’s latest CPI numbers and....
Bitcoin’s status as an inflation hedge has come under scrutiny in the current market, but experts point toward the exceptional market conditions. Bitcoin has been projected as many things since its inception in 2009. However, the most talked about aspects have been a fungible form of future money and an inflation hedge.The last Bitcoin (BTC) halving cycle (a block reward halving event that happens approximately every four years) coincided with the raging COVID-19 pandemic, which solidified many people’s belief in the nascent tech as a true hedge against inflation and worldly disorders. One....