Soaring Inflation Could Dampen Crypto, Analysts Say
— Consumer, Investors, High, Soaring, Analysts, Inflation, Bitcoin, Dampen, Crypto, Price — 1 min read
Consumer price index for the month of June was estimated to have risen 9.1% from last year. The June reading was the fastest since December 1981. Bitcoin was up slightly to $19,839.10 at last check on July 13, according to CoinGecko, while ether essentially flat to $1,090.21 as was dogecoin at $0.060478. Oanda: 'Bitcoin needs risk appetite to stabilize and that won't happen if financial markets continue to price in more tightening by the Fed' Martin Hiesboeck: 'We have seen no massive bleeding in the market and no dump in bitcoin, which leads us to believe that we may have reached a level from which we may bounce back significantly' Source