Bitcoin is down 30% in a month which wiped $380 billion from the market cap of the coin

Bitcoin is down 30% in a month which wiped $380 billion from the market cap of the coin. The Chaos of inflation in the United States is taking down the markets. Report from CPI shows that inflation in November is the worst in 40 years.

Crypto is a market that is highly speculative and volatile. Only one news can take it to the skies and the other down. News always impacts the financial markets as they are correlated. Consumer Price Index (CPI) has revealed a report which states that the inflation in the US is the worst in 40 years. This news has impacted all markets including crypto. If we see at the statistics Bitcoin is down 30% in a month.

Bitcoin is down 30% in a month:

On November 10, Bitcoin was trading at the $68,622 price mark and on today’s date, it is hovering around $48k. This is a significant drop of 29.76% in a month’s time span. The market of the flagship currency was $1.29 trillion a month ago, which has dropped to the $910 billion mark. These figures indicate that the market cap of Bitcoin is down $380. The news of inflation is also taking down the crypto market.

In response to the inflation news, Bitcoin is now trading at $48,199 down, 0.96% in the last 24 hours, and down 14.7% over the previous seven days, according to CoinMarketCap data. The supporters of BTC are thinking that news of inflation will strengthen the primary currency. As a result of the latest news, investors will keep a close check on the markets over the next several days if volatile swings occur in either direction.

For further content click here.