The European Central Bank (ECB) confirmed they would raise interest rates next month, moving up 25 basis points and ceasing the purchasing of bonds due to high inflation of 8.1%. The Nasdaq, S&P and Dow all fell ahead of the announcement of CPI data, with Ross Gerber suggesting that ending the war in Ukraine would have a positive impact on inflation. Ethereum recently went to a new proof-of-stake consensus, and Bitcoin is growing exponentially in adoption as the new supply dwindles. The next few years will see a significant increase in adoption, as Bitcoin is considered a superior form of monetary policy.
European Central Bank Talks Inflation
The European Central Bank (ECB) has recently spoken about inflation and Europe’s current economic situation. With inflation rates at 8.1%, it’s no wonder that people are concerned.
Bitcoin’s Future Hinges on Tomorrow’s Events
Tomorrow could be a big day for Bitcoin as it may experience either a breakout or breakdown, depending on what happens with the stock market.
Crypto vs. Stock Market
Although the stock market has experienced a crash, crypto has only seen a 0.54% decrease, showing that crypto may be a more stable investment in today’s unstable economy.
Regulations Loosen for Bitcoin
Good news for Bitcoin enthusiasts as regulations for it loosen up, making it a safer investment as it gains more widespread use.
Bitcoin Adoption and Monetary Networks
Bitcoin is still in the early stages of adoption, but it is growing quickly. Analysts predict that bitcoin will continue to grow exponentially in the next 40 years.
Future Outlook for Bitcoin
As the adoption of Bitcoin grows, the supply will dwindle down, making early adoption a priority for investors who don’t want to miss out on this new technology.