In the United States, like almost everywhere else, inflation continues to strengthen. Figures released recently by the U.S. Bureau of Labor Statistics show that this inflation is having a strong impact on everyone, but especially on people living in major cities across the country.
Worried inflation
The data from the US Bureau of Labor Statistics are clear. They show that the consumer price index (CPI) has increased 1.3%, making living conditions extremely difficult for workers. In detail, for ordinary goods other than food and energy, the Bureau notes that the index rose 0.7% in June and 5.9% during the year.
It should be remembered that the CPI is a very common indicator used in the United States. It is used for the change in average price that consumers are willing to spend to buy a basket of consumer goods and services. In a way, it is due to the fact that this index has increased significant consequences in the cryptocurrency market.
In fact, the price of BTC has recently risen to $ 20,126.39. However, due to inflation, it fell back to $ 19,200. But needless to say, bitcoin can serve as a reserve value. It has shown a lot.
The volatility of bitcoin (BTC) can be stressful for investors due to the sharp rise in the consumer price index (CPI). In fact, since the onset of inflation, the price of the digital asset has gone from $ 20,126 to around $ 19,200. However, to combat this same inflation, bitcoin could play a role!
Source: CryptoPotato
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