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0 CommentsThe crypto market is up today, reflecting market participants’ expectations that inflation is cooling after positive economic data. The crypto market is up today and Bitcoin, Ether, Solana and numerous altcoins rallied after data published by the Institute for Supply Management (ISM) on Jan. 4 which showed slower demand and lower input prices for manufactures which…
341 ViewsBitcoin and Ether fell below recent support levels in the past 24 hours – BTC fell about 9%, while ETH dropped 6% – which caused over $250 million in liquidations. The crypto market drop followed the decline in US stocks after higher-than-expected inflation readings for August. According to data, futures tracking Bitcoin lost upwards of…
373 ViewsCrypto prices swung as Fed chair Jerome Powell spoke about the pain of inflation in the US. The Fed remains committed to reigning in inflation, even if at some “unfortunate costs.” Federal Reserve chairman Jerome Powell spoke about FOMC’s future goals at the annual Jackson Hole symposium. He said that FOMC’s overarching directive remains to…
456 ViewsAs the Turkish lira has been losing its power, citizens have been turning to crypto. While Turkey’s annual inflation rate has reached 78.62%, the BTC volume of local P2P trading has increased significantly in Q1 and Q2 2022, compared to Q4 2021. According to data from the Turkish Statistical Institute, Turkey’s inflation rate has hit…
306 ViewsBitcoin’s price sank following the latest US Consumer Price Index (CPI) release, which showed that the index had unexpectedly hit 8.6%, reaching its highest level in 40 years. Despite economists’ expectation that the CPI figure to remain flat at 8.3%, the same as April, the Labor Department’s announcement on June 10 defied that inflation is…
386 ViewsHow effective is Bitcoin as a hedge against inflation? Dilip Kumar Patairya on Cointelegraph studied what inflation is and how useful Bitcoin and the other means are to deflate it. Why do you need a hedge against inflation? How effective is Bitcoin as a hedge against inflation? Let us first understand what inflation is and…
