Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The crypto market ends the week at a total market capitalization of $2,17 trillion. Bitcoin continues to trade at around $62,300. Ethereum experiences no changes and stagnates at around $2,400. XRP is down by 2%, Solana by 1%, and Dogecoin by 3%. Almost all altcoins are trading in the red, with very few exceptions. The DeFi sector decreased the total value of protocols (TVL) to around…
Inflation Statistics
Bitcoin Briefly Bounces Following Record November Inflation Numbers
US inflation numbers for November are out, and they’re looking bullish for long-term Bitcoin HODLers. According to Labor Department data, The Consumer Price Index (CPI) has risen by 6.8% from November 2020 to 2021. As with last month, Bitcoin’s price briefly jumped on the news before quickly descending back below $48k. Prices Keep Rising The US Bureau of Labor Statistics released November’s CPI data at 8:30 am EST this morning. The report indicated a 0.8% increase on last month’s already…
3 years ago
How to Predict the Price of Bitcoin Using Inflation Statistics
Fourteen years ago, the cost of bitcoin was 6 cents. This year it recorded an all-time high of 60k. Considering the current Bitcoin mainstream adoption, what is the fate of Bitcoin ten years from now? Contrary, there are also competitive coins such as Ether (ETH) with more prominent communities. As mentioned above, the price of Bitcoin has inflated in the past ten years. So what does inflation mean? Contrary to the crypto-space definition, the fiat world defines inflation as a…
4 years ago