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Bitcoin breaks $ 44k as the US announces 7% CPI

January 13, 2022 - Around 2 mins mins to read

Bitcoin breaks $ 44k as the US announces 7% CPI.

The latest figures from the US Bureau of Labor Statistics show that the consumer price index (CPI) hit 7% in December 2021.

Bitcoin was volatile prior to the announcement, fluctuating more than $ 2,000 from $ 41,000 to $ 43,000 on Wednesday.

After the numbers were released, the price continued to rise, breaking the $ 44,000 mark before falling slightly to current levels.

Bitcoin breaks 44k as the US announces 7 CPI

Source: TradingView

Before the announcement, Twitter was full of speculation. According to a Twitter poll, 53% of Coin Bureau’s 580,000 followers expected the CPI to beat the consensus estimate of 7% inflation. Also the macroeconomist and cryptanalyst Lyn Alden participation Discussions.

The Fed’s inflation chart over the past 10 years is interesting. Since the pandemic highlighted in gray, inflation has plummeted before it skyrocketed to 7%.

1642043781 476 Bitcoin breaks 44k as the US announces 7 CPI

Source: BLS, Board of Governors

Nic Carter of Castle Island Ventures predicts more inflation and jokes that he is “keeping an eye on how inflationists deal with double-digit CPIs”.

The rate of inflation has become a major concern for the developed world, particularly the United States. 7% is the highest rate of inflation since the 1980s.

Traditional markets like the S&P start in the green, up 0.36%, while BTC is up 2.8% at press time.

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Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.
Market

Bitcoin breaks $ 44k as the US announces 7% CPI

Bitcoin breaks $ 44k as the US announces 7% CPI.

The latest figures from the US Bureau of Labor Statistics show that the consumer price index (CPI) hit 7% in December 2021.

Bitcoin was volatile prior to the announcement, fluctuating more than $ 2,000 from $ 41,000 to $ 43,000 on Wednesday.

After the numbers were released, the price continued to rise, breaking the $ 44,000 mark before falling slightly to current levels.

Bitcoin breaks 44k as the US announces 7 CPI

Source: TradingView

Before the announcement, Twitter was full of speculation. According to a Twitter poll, 53% of Coin Bureau’s 580,000 followers expected the CPI to beat the consensus estimate of 7% inflation. Also the macroeconomist and cryptanalyst Lyn Alden participation Discussions.

The Fed’s inflation chart over the past 10 years is interesting. Since the pandemic highlighted in gray, inflation has plummeted before it skyrocketed to 7%.

1642043781 476 Bitcoin breaks 44k as the US announces 7 CPI

Source: BLS, Board of Governors

Nic Carter of Castle Island Ventures predicts more inflation and jokes that he is “keeping an eye on how inflationists deal with double-digit CPIs”.

The rate of inflation has become a major concern for the developed world, particularly the United States. 7% is the highest rate of inflation since the 1980s.

Traditional markets like the S&P start in the green, up 0.36%, while BTC is up 2.8% at press time.

Follow the Youtube Channel | Subscribe to telegram channel | Follow the Facebook page

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