"Hip hip hooray, investors must love it if BTC goes up again."
After the release of the Consumer Price Index (CPI) data yesterday, the mother of all cryptocurrencies Bitcoin (BTC) managed to see the price break through $19,000 including the crypto market also saw positive momentum.
The CPI data in December was reported to be 6.5% for the annual reading compared to November showing a slight decrease from the level of 7.10%.
Through observation, the price of BTC increased by more than 4.61% in the last 24 hours but now it has decreased slightly by around 0.31% hovering at the level of $18,777.
While the second largest cryptocurrency Ethereum (ETH) did the opposite when it slipped almost 0.6% after the release of the CPI data, when the stock market was reported to have increased by 1.76%.
It was explained that the CPI of 6.5% was the lowest in 6 months after consecutive declines and the positive results could benefit traders including the crypto market which has been facing a drastic fall.
It is also worth noting that investors are able to invest in digital assets due to the decrease in inflation which can allow them to spend less on the cost of living.
In context, the CPI is intended to measure price changes in a certain period and the Federal Reserve (Fed) of the United States (US) will determine the increase in interest rates through the index data.
