The U.S. released its inflation data on Wednesday, January 12, but this doesn’t seem to dampen the sentiment for Bitcoin investors as of now. Bitcoin is trading in the green zone as of press time at price levels above $43,700.
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The cryptocurrency market appears to be in the midst of a time of extraordinary volatility, with volatility seen on both sides. The price of bitcoin continues to swing significantly; it is currently trading around $43k, whereas other traditional cryptos like ETH are trading at $3.3k.
On Wednesday, January 12, the United States has reported the highest inflation at 7% in over four decades since 1982. Well, this doesn’t seem to have a greater impact on the Bitcoin price as it continues to trade above $43,500 moving further away from the death cross.
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Bank of America digital asset strategist Alkesh Shah has predicted that Ethereum competitor Solana could become the “Visa of the digital asset ecosystem” in a Jan 11 research note.
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