Bitcoin’s price recently stood at $81,473, down 2% over a seven-day period. The price of the leading cryptocurrency dropped Wednesday after data showed that consumer prices shot up more than expected in September. This has weighed on bitcoin’s price because higher inflation means the Federal Reserve may hike interest rates. Higher borrowing costs can restrict the liquidity the digital coin needs to rally. I’m certain this inflation needs to be tapered towards a productive margin which should be beneficial to all.
Bitcoin’s price recently stood at $81,473, down 2% over a seven-day period.
The price of the leading cryptocurrency dropped Wednesday after data showed that consumer prices shot up more than expected in September. This has weighed on bitcoin’s price because higher inflation means the Federal Reserve may hike interest rates. Higher borrowing costs can restrict the liquidity the digital coin needs to rally. I’m certain this inflation needs to be tapered towards a productive margin which should be beneficial to all.