Bitcoin Is The Safe Asset With Consumer Price Index At 8.5%
The Consumer Price Index hit an elevated rate of 8.5%. The addressable market for an immutable asset like bitcoin with its limited supply is above $100 trillion.The below is from a recent edition of Bitcoin Magazine Pro, 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.Inflation Versus 10-Year Treasury YieldsWe recently received the United States Bureau of Labor Statistics inflation data for the month of March, which came in at a red hot 8.56% year-over-year....
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Altcoins have taken over bitcoin in terms of outperformance this month. While the crypto market as a whole has suffered losses, bitcoin has declined more in a time when the digital asset would have served as safe haven for investors. Now, with altcoins taking the lead in terms of recovery, it points to the downtrend worsening over time, especially for bitcoin. Bitcoin Fails To Hold Up Bitcoin, for the last month, has had its fair share of ups and downs. However, despite being a market mover, the digital asset has fallen short when it comes to holding its value. It saw an overall decline of....
Is bitcoin a safe asset? David Andolfatto, vice president of the Federal Reserve Bank of St. Louis, acknowledges in his blog, “MacroMania,” that bitcoin can be volatile over a short time span. But when people speak about safe assets, it’s not the same as providing a stable rate of return. Andolfatto, in considering what makes an asset truly safe, thinks bitcoin does have some important safety properties to consider, either for personal investing or policymaking. A safe asset is one people go to during uncertain economic times. In normal times, a safe asset is one that people hold despite a....
The latest inflation data from the United States indicates that consumer prices have kept climbing despite expectations of a slowdown. The Consumer Price Index (CPI) summary published on Thursday shows an 8.2% rise in the year through September, and the core index rating saw the fastest yearly increase since 1982. September’s CPI Data Was Worse Than Expected, Report Signals an Aggressive Fed Rate Hike on the Horizon, Global Markets Shudder U.S. inflation numbers for September are in, and the inflation rate, or CPI, is worse than expected. According to the U.S. Bureau of Labor....
Bitcoin surged after July’s CPI data showed that inflation has started to decline after several months of record-breaking rates. Similar to earlier instances, the price of bitcoin climbed close to $24,000. CPI Report Boost Bitcoin Price According to the Consumer Price Index report (CPI) that the U.S. Bureau of Labor and Statistics released on Wednesday, consumer costs remained unchanged, putting inflation at 8.5%. Prior to this, analysts anticipated that the index, which analyzes price changes across a wide range of products and services, would increase by 0.2% to reveal inflation to....