The plague of inflation, the world needs bitcoin (BTC)

In the United States, like almost everywhere else, inflation continues to strengthen. Figures recently released by the US Bureau of Labor Statistics showed that this inflation has a strong impact on everyone, but especially on people who live in major cities across the country.

Worrying inflation

The data from the US Bureau of Labor Statistics is clear. They show that the consumer price index (CPI) has increased 1.3%, which means that living conditions are particularly difficult for workers. In detail, with regard to conventional items apart from food and energy, the Bureau notes that the index rose by 0.7% in the month of June and by 5.9% over the year.

It should be remembered that the CPI is a very commonly used indicator in the United States. It is used to measure the average price change that consumers are willing to spend to buy a basket of services and consumer goods. In a way, the fact that this index was increased led to notable consequences in the cryptocurrency market.

Indeed, the price of BTC recently increased to $20,126.39. However, due to inflation, it fell back down to $19,200. But never mind, bitcoin can serve as a reserve value. He has demonstrated it enough.

The bitcoin (BTC) investor may seem stressful for investors due to the sharp increase in the consumer price index (CPI). Indeed, since inflation began, the price of the digital asset has gone from $20,126 to around $19,200. However, to counter this same inflation, bitcoin could play a role!

Source: CryptoPotato

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