Bitcoin Price Today Will Depend on This Crucial Factor: Report
Yuri Molchan
Data issued later today may define which way Bitcoin price will go – up or down
News
Thu, 10/13/2022 - 11:53
Cover image via stock.adobe.com
Chinese crypto journalist Colin Wu has reminded the crypto community that today is the day when data on the Consumer Price Index (CPI) will be published for September.
The Bitcoin price is connected to this crucial economic index, he says, sharing that when CPI previously exceeded expectations, the flagship cryptocurrency lost roughly 4% within just half an hour after the release.
When CPI has come out lower than expected in the past, Bitcoin gained 2%.
The release time of the CPI data today is 8:30 a.m. ET. Bitcoin is changing hands at $18,728 at the time of this writing.
About the author
Yuri Molchan
Yuri is interested in technology and technical innovations. He has been writing about DLT and crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. He has written for multiple crypto media outlets.
His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.