As the cryptocurrency market fluctuates, it is no secret that many investors are looking to increase their return on investment. Bitcoin motion is now one of the top 10 best-performing assets, according to a study by the S&P 500 index. Ethereum (ETH) has hit an all-time high of $500, according to CoinMarketCap. Ethereum (ETH) has hit an all-time high of $500 and has been up over 50% since April 2021..
The US Labour Department (USDOL) holds its National Bureau of Economic Research (NBER) data on the Consumer Price Index for June 2022. The NBER is a prestigious economics think tank that produces high-quality research to understand business cycles and develop economic policy around them. Its most well-known publication is the Business Cycle Dating Committee, which declares whether or not we are in a recession based on statistical indicators such as employment numbers, GDP, and CPI.
Cryptocurrencies and digital assets are highly sensitive to changes in the CPI, and therefore, any changes in the CPI will have a significant impact on the cryptocurrency markets. The CPI measures overall inflation, and its change affects the value of cryptocurrencies and other digital assets. Cryptocurrencies are decentralised, meaning their value is determined by market supply and demand rather than government or central bank policies.
How US CPI Data Will Affect Cryptocurrency Market
You often hear about the volatile cryptocurrency market, but many investors are looking to increase their return on investment. As a result, many people have felt that cryptocurrency assets could be an ideal place to invest. There are several reasons why investing in cryptocurrencies is a good idea:
- Cryptocurrency markets have shown potential for growth over time and have thus far proven themselves as good investments.
- Many investors diversify their portfolios by including cryptocurrencies, for example, gold and stocks, due to their ability to be easily sold on exchanges.
- You can mitigate the risk associated with investing in the stock market by using cryptocurrency as part of your overall portfolio.
Bitcoin is now one of the top 10 best-performing assets, according to a study by the S&P 500 index. The world’s largest digital currency has been one of the top 10 best-performing assets since April 2021, when it surpassed $8,000 for the first time this year. According to data from Bloomberg Intelligence, Bitcoin has also had a higher return than any other asset class from January 2017 through May 2022.
Ethereum (ETH) has hit an all-time high of $500, a new record high for ETH. The price of Ethereum has risen more than 40% in the last five days and is up more than 70% from its mid-May lows. Ethereum is often considered Bitcoin’s biggest rival and currently ranks as the second largest cryptocurrency by market capitalization, with a total value of $33 billion.
The reason behind this massive rise in price?
According to one theory, Ethereum’s recent boom could be tied to its upcoming hard fork on July 13th. Bitcoin underwent a similar scenario in December 2017 when bitcoin cash split off from bitcoin core due to disagreements about scaling solutions resulting in two versions BCH & BTC).
Ethereum (ETH) has hit an all-time high of $500 and has been up over 50% since April 2021. The cryptocurrency has risen by more than 100% from its 2019 lows and surpassed Bitcoin as the most valuable crypto asset in the world. Ethereum is one of the top 10 best-performing assets.
Final Words
There is a long way to go before we see an end to the volatility in the cryptocurrency market, but it’s certainly not impossible. If you want to get into the market now or hold on to what you have, there are some things that you can do. First, look at what other people say about their experience with buying or selling cryptocurrencies and decide whether they’re trustworthy sources of information. You need to buy and seek cryptocurrencies through bitcoin trading software. This will help ensure that you won’t lose your money because someone else stole them from their account without realising it until too late.
