Crypto Market Trades Sideways As The Inflation Fear Kicks In, What’s Ahead?

The past week brought hope and confidence to lots of crypto participants. This is due to the growth seen in most major cryptocurrency tokens as they witness some price increase. However, happy days seem to be cut short suddenly as prices twist in reverse. The last 24 hours have thrown the crypto market into a confusing state and tension as prices dip. Some crypto experts are afraid that increasing inflation could lead to another period of bear markets. Most of the leading crypto assets are experiencing a downward climb after rising considerably in last week’s space. Related Reading: THORChain (RUNE) Ready For 20% Climb Before Next Correction Bitcoin price has dropped beneath the $23,000 level again. It’s currently trading around $23,0760 after it had climbed up to $24,500. Ethereum is not doing any better as its price got to $1,570 from $1,764. However, it has shown a slight price rally to be at $1,688 currently. There are also price losses for Ethereum Classic and Cronos. Trivariate’s founder and CEO, Adam Parker, during an interview with CNBC, pointed out that CPI is contributory to the present situation. Parker stated that CPI is likely to keep its high position. According to Parker, he’s yet to notice any supportive intent from the Fed. He further observed that the housing market is experiencing a surge in rent by up to 12% annually. CPI Plays A Vital Role In Crypto Market Trend The Consumer Price Index (CPI) is a vi...