Demand For Bitcoin, Ether Increases As U.S. Inflation Rate Accelerates To A 40-Year High ⋆ ZyCrypto - BitcoinEthereumNews.com
विज्ञापन The increasing inflation in the US continues to push serious concerns. According to the latest data, the Consumer Price Index (CPI) has reached the level of 7.5% per year, indicating the highest inflation rate since February 1982. The inflation growth equals 0.6 percentage points compared with the rate published in the last month. The statistics confirm the minimal effectiveness of measures taken by the Federal Reserve and other government agencies in controlling inflation in the country. Another problem is the stagnating salaries in the country as they tend to increase only at the rate of 0.1% during the same period. Thus, the real wages and salaries continue diminishing, leading to the severe criticism of government policies. Under these conditions, the growing number of private investors and ordinary citizens have shifted their attention to the crypto industry as they believe the leading cryptocurrencies, such as Bitcoin and Ethereum offer a reliable solution to the existing inflation pressure. Bitcoin constitutes the major interest in this regard because it is the established crypto leader with a fixed maximum supply (in contrast with Ether and some other cryptocurrencies specialized in smart contracts‘ solutions). The changes in people’s preferences and structure of their demand for various assets may