Bitcoin has risen above $ 50,000 as a result of 40-year high inflation, according to CoinQuora
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- more than $ 50,000 last Friday.
- The data show that BTC has the highest inflation in 40 years.
- Mike McGlone predicts that 2022 will be a prosperous year for Bitcoin.
On December 10, Bitcoin (BTC) rose more than $ 1,000 as data from the U.S. Consumer Price Index (CPI) revealed that inflation was worse than expected in November. In addition, TradingView data was as high as $ 50,132 on Bitstamp.
Bitcoin rally to announce 40-year high inflation. pic.twitter.com/BHQTnKpxdB
– Pump (@APompliano) December 10, 2021
Both cryptographic analysts and traditional financial analysts were highly anticipated for the CPI, with a year-on-year increase of at least 6.7% as well as a 7% improvement. The numbers were generally in line with the Conservative inventions of the year, reaching 6.8%. In fact, the result of the CPI is the highest in almost 40 years.
Therefore, the short-term success of Bitcoin did not last long. At the time of writing, BTC / USD has returned to $ 48,914.82.
Meanwhile, Bloomberg Senior Strategic Merchant Mike Mcglone predicts that 2022 will be Bitcoin and a prosperous year ahead. It assumes that BTC will earn $ 100,000 and that the precious metal will sell for $ 2,000.
$ 100,000 # Bitcoin, $ 50 # Oil, $ 2,000 # Gold? 2022 Forecast Graph 5 – Commodity Peak and Treasury Long Bond Yield Decline Indicates Risks of Revival of Deflationary Force in 2022, with Bitcoin and Gold positive. pic.twitter.com/j3VNAOCwuz
– Mike McGlone (@ mikemcglone11) December 9, 2021
In addition, the US dollar is gradually losing its ability to buy. Many consider Bitcoin to be the opposite. At the same time, Mike McGlone predicted that “deflationary forces” will prevail next year and that inflation will stop spreading around the world.
The process can also help Bitcoin reach an important milestone in the development of $ 100,000 USD. Also, the same factor will cause gold to rise to $ 2,000 and oil to reach $ 50, according to McGlone.
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