Bryce Paul & Aaron Malone – Red Hot Crypto + Digital Book
Historic inflation seems to be pushing up the prices of everything nowadays, and even the crypto market is not immune from its influence.
While crypto experts and investors have touted bitcoin, the original and largest crypto, as an inflation hedge, it remains to be seen how ongoing inflation will affect it and the rest of the crypto market, but more short-term volatility is a safe bet.
What Does June’s Inflation Report Mean for Crypto Investors?
The crypto market this year has been heavily and consistently influenced by broader macro conditions underpinning the U.S. economy, such as surging inflation, a shaky stock market, rising interest rates, and a potential recession.
The latest inflation report was another instance of macroeconomic factors scrambling the crypto market. Inflation hit a new four-decade high in June, though economists were expecting it to slow down some.
Back in June, May’s inflation data was considered one of the primary catalysts for bitcoin dropping below $30,000. A similar situation temporarily took place this week but the largest crypto steadily clawed its way back above $20,000, a key price level, within a day. Other cryptocurrencies followed bitcoin’s lead.
So, how is this time different? Some experts say the crypto market may be finally stabilizing after falling for several months, while others say high inflation may have already been priced into the crypto market this time around since many investors and traders were anticipating it. In other words, because investors will likely remain cautious as long as forecasts are pessimistic, the market may not move significantly. However, it’s impossible to know for certain.
Course Curriculum
Digital Copy of Crypto Revolution
Crypto Revolution
Red Hot Crypto
Chiliz ($CHZ) – September, 2022
Mina (MINA) – August, 2022
Bitcoin (BTC) – July, 2022
Chainlink ($LINK) – June, 2022
ImmutableX (IMX) – May, 2022
Bitcoin (BTC) Mining – April, 2022
Lido (LDO) – March, 2022
Investing in Polkadot (DOT) Parachain Auctions – February, 2022
Cosmos (ATOM) Airdrops – January, 2022
Gaming Coins Gala (GALA), Axie Infinity (AXS), and Decentraland (MANA) – December, 2021
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