Bitcoin’s price swung from gains to losses and back to gains on Friday after a key U.S. inflation report showed consumer prices rose in November at their fastest pace in 39 years.The market fluctuations left bitcoin on track for its fourth straight weekly decline, and the starry-eyed forecasts of $100,000 by year end – or even a return to last month’s all-time high of around … [Read more...] about Market Wrap: US Inflation at 39-Year High Fails to Buoy Bitcoin
39Year
US Inflation Jumps to 39-Year High of 6.8% in November; Bitcoin Falls
After the release of the October CPI data, bitcoin shot up by almost $3,000 to quickly hit a new all-time high of $68,950. But within a few hours, the move reversed completely, and prices fell as more traders shifted to focus on the logical consequence of faster inflation: monetary-policy tightening by the Federal Reserve that might crimp demand for riskier assets from stocks … [Read more...] about US Inflation Jumps to 39-Year High of 6.8% in November; Bitcoin Falls