Inflation Is Rampant. Is It Time to Buy Bitcoin?
Bitcoin has shown an increasing tendency to track interest rate hikes, but professional investors still think record-high inflation is fleeting.
Federal Reserve Chairman Jerome Powell testified before the U.S. Senate, about inflation and the possible rollout of a digital dollar.
The Federal Reserve chief signaled the U.S. central bank isn’t likely to dial back monetary stimulus anytime soon.
Even while pressure mounts to taper its asset purchases, the central bank will continue its accommodative quantitative easing.
"It's hard to read too much into the price action currently while we're still stuck in this range," one observer said.
Buyers are snapping at bitcoin whenever it dips to $30,000, but the cryptocurrency’s price response to faster inflation readings is puzzling Wall Street analysts.