1 August 2026
US Inflation Jumps To 40 Year High In November
Recently in November, the U.S. Consumer Price Index (CPI) hit a new four-decade high at 6.8%, confirming what market experts have been informing the whole time.
The European and Asian markets recorded a sudden fall in the early morning before the data release, and the US government is planning to bring new measures to control the damage. The untapped money printing by governments around the world is the main reason behind rising inflation which is getting worse due to the raging pandemic.
At the time of the first Coronavirus wave, the Crypto and traditional market witnessed a downfall, but later altcoins and Bitcoin started to grow exponentially. Bitcoin started becoming the growing choice of inflation hedge among retail and institutional investors. Due to the pandemic, institutions started adopting Bitcoin.
The new COVID variant omicron has stimulated fear in the traditional markets, and experts are forecasting yet another unstable quarter for the financial markets.
Many market analysts believe that inflation would bring down each market, including the Crypto market. Crypto enthusiasts think the other way. They believe that Bitcoin and altcoins will rise in the first quarter of 2022 as December turned bearish.
As soon as CPI data was published, Bitcoin and altcoins started a recovery while the traditional market slid in caution. The flagship Cryptocurrency jumped to $49,900 price and Ethereum to $4,100. Currently, Bitcoin is consolidating above $48K, but the dominance of bearish sentiment in the market is high, especially after the release of CPI data. However, it is expected that BTC would look to consolidate and restart its journey for bullish momentum by the new year.
Disclaimer: The author’s thoughts and comments are solely for educational reasons and informative purposes only. They do not represent financial, investment, or other advic
Explore related on CoinsCapture
Coins
Discussion
0 comments