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Inflation in the United States Hits 40-Year High!



 Inflation in the United States is 7%, its highest level in 40 years. The latest consumer price index report saw the price value rebound by> 3% and 4.5% for Bitcoin and other cryptocurrencies.

US inflation hits 40-year high

While past trends indicate that gold is the first choice as a hedge against inflation, the reaction of the crypto market shows that a lot of Bitcoin and other cryptocurrencies are also using it.

Above all, these routes are used by people with a slightly higher income who want to protect their cash holdings and almost liquid investments from depreciation. Bitcoin and Co have proven to be suitable alternatives to fiat depreciation for many investors, with over 160% growth in value in 2021.

The US Federal Reserve announced in November 2021 that it expected inflation to rise further and that it had already taken steps to contain it. The key to these steps is raising interest rates to reduce the increased borrowing.

The Fed also mentioned that it could potentially dispose of a sizable chunk of more than $ 8 trillion in government bonds to clear excess funds from the public.

However, the Fed has repeatedly claimed that cryptocurrencies are risky assets. The agency could decide to free up its balance sheet reserves, which will drive government bond yields higher and discourage investors from crypto.

According to Glassnode, the recent surge brings temporary relief to Bitcoin, which has been of little interest to retail investors since last month. The latest downtrend had left many investors recently stuck around the resistance at USD 52,000 and then in the red with their investments.

Given a projected spike in inflation, many have argued that Bitcoin serves as a hedge on par with gold. Opponents believe, however, that this position is too early to assess due to its high risk and volatility, which has led old billionaires to consider it purely a speculative investment.

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