Will the CPI number tomorrow influence the trading volume of cryptocurrencies?

1 answers

• May 03, 2022 · 3 years ago
  At BYDFi, we believe that the CPI number can indeed influence the trading volume of cryptocurrencies. As a measure of inflation, the CPI number provides insights into the purchasing power of fiat currencies. If the CPI number is higher than expected, it may erode the value of traditional currencies and drive investors towards cryptocurrencies as a store of value. This increased demand can lead to higher trading volume. However, it's important to note that the impact of the CPI number on trading volume can vary depending on other market factors and news events. It's always advisable to consider a range of indicators and conduct thorough analysis before making trading decisions.
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