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Inflation news from the US caused prices to rise Bitcoin (BTC) It’s back in excess of $44,000, at least for a while. Data from the Consumer Price Index (CPI) shows that the US inflation rate exceeded 7% in December, reaching its highest level since the 1980s. Not only Bitcoin, but many other currencies as well Cryptocurrency She responded positively to this news.
Numbers Released by the US Bureau of Labor Statistics showed the consumer price index above 7% in December. The price of BTC fluctuated between $41,000 and $43,000 for a while. After the announcement, however, $44,000 was tapped.
Before the numbers were announced, there was already a lot of talk on Twitter about the possible numbers. Lynne Alden, a macroeconomist and crypto clairvoyant, was right to predict:
The December CPI will be released tomorrow and it has a good chance of reaching 7%+ YoY.
But then, unless monthly inflation accelerates from here, the annual number will likely peak in the first quarter of 2022. pic.twitter.com/7hjA3ehAXI
Lyn Alden (@LynAldenContact) January 11 2022
Earlier today there was already David Van Enfield video Posted on Crypto Insiders, where David discusses inflation. It also discusses sectors that could benefit from it.
Has Bitcoin Reached the Bottom?
Bitcoin and the rest of the crypto world is not a good start to the new year, but Bitcoin hit bottom? More and more analysts think so. Among other things, it looks at Dormancy Flow Modify Entity From Glassnode Analytics. A rare thing in the history of Bitcoin, but the current situation is always excellent Buying Opportunity To be.
dormancy flow buy signal on BTC dollarsVery rare, only six times in history pic.twitter.com/eNU5lY9sOH
– Zhu Su 🔺 (zhusu) January 11 2022
Moreover, the reports from the US Federal Reserve did well for Bitcoin this time around. Last week we saw another Bitcoin crash When it became known that the Fed was going to take some shares off its balance sheet. This time it actually caused a price increase. Federal Reserve Chairman Jerome Powell said interest rates will remain low. The rate of BTC increased due to this, among other things.
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