The market was positive. Bitcoin (BTC) marked a new historic maximum last night, and Ethher (ETH) was at the gates of the new price record. But… all of a sudden it changes.
New US Wholesale Inflation Data Defeated Prices Suddenly of digital assets.
The following graphics provided by TrainingView are shown How BTC has worked in the last 24 hours:
As reported by Cryptonotics through social networks, US PPI (wholesale inflation) in July is far better than expected: 3.3% (estimated 2.5%) per year, and 0.9% between lineages (estimated 0.2%). This is clearly the result of the “customs war” unleashed by Trump.
PPI measures the rise in the prices a company pays to produce goods and services. If these costs increase, they usually move to consumers and push general inflation…and the Fed, which may decide not to cut interest rates in the near future, will hurt unstable assets like action, Bitcoin, cryptocurrency and more.
It is worth clarifying that Bitcoin falls are relatively low when considering the long term. At the time of this publication, digital currency is still in an area close to its historic maximum (and prices only 24 hours ago). You will need to wait for the next few hours and days to see what the evolution of this situation is.
