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Jan 16, 2023 14:12
Bitcoin price was tested above $19,000
After the publication of inflation data in the U.S., the Federal Reserve made a statement. In their opinion, the time for large-scale increases in the discount rate and the peak of inflation has passed, and a recession is unlikely. At the same time it was noted that the U.S. GDP growth should still slow down, while the unemployment rate will grow.
The first cryptocurrency exceeded $19,000 on January 12 amid the release of data on U.S. inflation and statements of the Fed. Later, the price rolled back to around $18,800. Growth during this day was 3.9%.
The second most capitalized cryptocurrency (ETH) reached the price above $1430, but later also rolled back to $1408 (+0.9% per day).
Following the leaders, all assets from the top 10 moved into the green zone. Polygon shows the largest growth after Bitcoin - 3.1%. The total capitalization of the market is $941.9 billion.
The increase in quotations was outlined even before the publication of the BLS report. Consumer price growth slowed to 6.5% in December, with a forecast of 6.7%. The core inflation rate declined from 6% to 5.7% against expectations of 5.8%.
Earlier in December, our analysts noted that the main scenario for 2023 would be a likely recession in the U.S. economy. However, if it can be avoided, cryptocurrencies will be subject to positive revaluation in this environment.
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