Bitcoin is the first successful internet money based on peer-to-peer technology; whereby no central bank or authority is involved in the transaction and production of the Bitcoin currency. It was created by an anonymous individual/group under the name, Satoshi Nakamoto. The source code is available publicly as an open source project, anybody can look at it and be part of the developmental process.
The increase in U.S. inflation in June was higher than expected: 1.3%, leading to an annual increase of 9.1%.
- U.S. inflation up 1.3%, official statistics show
- This means an annual inflation rate of 9.1%, the highest in 41 years.
- Energy was the item that had the highest increase
- Bitcoin and the crypto market an area or arena, online or offline, in which commercial dealings are conducted. reacted in decline
The U.S. Bureau of Labor Statistics today released the long-awaited official inflation report for last month. This statistical report serves as a guide, not only within that country, but – as the dollar is the global reference currency currency is a medium of exchange that defines value. – it will have an impact on prices around the world and in all sectors, including cryptocurrencies, whose response will surely be seen in a matter of hours.
According to the report, the Consumer Price Index for All Urban Consumers (CPI-U) increased 1.3 percent in June, after rising 1.0 percent in May. Over the past 12 months, the index for all items rose 9.1 percent.
While the increase was across the board, the gasoline and energy, housing and food indexes experienced the largest increases. The energy index rose 7.5 percent for the month, with the gasoline index rising 11.2 percent. Likewise, the food index rose 1.0 percent in June. In addition, the index for new car prices rose 0.7 percent and used car prices rose 1.6 percent.
Here you can see the main figures and increases:
The agency states: “ While nearly all of the major component indexes increased over the month, the largest contributors were the indexes for housing, used cars and trucks, health care, motor vehicle insurance, and new vehicles. The indexes for motor vehicle repair, apparel, home furnishings and operations, and recreation also increased in June. Component indexes that declined in June were lodging away from home and airfares.”
Asimismo, el índice anual entre junio 2021 y 2022 aumentó un 9,1 por ciento. Se trata del mayor indicador anual de inflación desde mayor índice de 12 meses el período que finalizó en noviembre de 1981, como revela el mismo Buró de Estadísticas Laborales. El índice de todos los artículos menos alimentos y energía aumentó 5,9 por ciento en los últimos 12 meses. The energy index rose 41.6 percent in the last year, the largest 12-month increase since the period ending April 1980. The food index increased 10.4 percent from June 2021 to June 2022, the largest 12-month increase since the period ending February 1981.
What some analysts say
Coindes k interviewed several analysts. The media claims a higher-than-expected inflation figure, particularly for the core CPI, “would validate the Fed’s strategy of combating price pressures with aggressive rate hikes and a balance sheet sell-off, which would reinforce the dollar’s rally and generate renewed selling pressure for risk assets, including Bitcoin.”
That media outlet shows how some observers expect the CPI to influence Bitcoin.
Matthew Dibb, chief operating officer and co-founder of the e Stack Funds based in Singapore, told CoinDesk: “We think it is largely discounted, but any deviation from the forecast will bring a lot of volatility. Bitcoin the biggest and most popular cryptocurrency in the world. It is a decentralized digital currency that enables users to make trustless peer-to-peer transactions. has been trading strongly ‘risk off’ since Sunday in anticipation of this week’s macro news and is approaching recent support. If a print exceeds 8.8%, BTC is likely to approach the USD $18,000 handle in the near term.”
For his part, John Kicklighter, chief strategist for DailyFX , dijo: “Wednesday’s CPI is a catalyst capable of getting markets moving again, but it’s a higher bar to generate broader traction on ‘risk trends’ that will push Bitcoin and cryptocurrencies lower along with other traditional speculative assets. On the other hand, another extension for the dollar trading between 20 and 35 year highs against its larger counterparts (euro, yen and pound) could certainly strangle this leading alternative to fiat fiat currency is “legal tender” backed by a central government, such as the Federal Reserve, and with its own banking system, such as fractional reserve banking. It can take the form of physical cash, or it can be represented electronically, such as with bank credit. money.”
Vetle Lunde, analista de Arcane Research he said in the weekly report: “Be prepared for volatility a statistical measure of dispersion of returns, measured by using the standard deviation or variance between returns from that same security or market index. following Wednesday’s CPI release at 08:30 ET. Upside inflation a general increase in prices and fall in the purchasing value of money. surprises lead to higher expectations of further monetary policy tightening by the Fed.”
How has the crypto market reacted?
Although the day has only just begun and the information was only known half an hour ago, both Bitcoin as the major cryptocurrencies reacted to the downside. Bitcoin fell 0.36% in the last hour, which is reflected in a 3.77% drop from yesterday’s price. Its price is now, as of 9:00 am, USD $19,134.03, according to the index of CryptoMarkets.
Report of DiarioBitcoin
Imagen de Unsplash