Bitcoin Price Correlated With Financial Markets – Bitcoin Magazine

This is an opinion editorial by Mike Ermolaev, head of public relations and content at Kikimora Labs.

Setting the Context: Fundamentals of Global Economics

The economy is still recovering from the COVID-19 outbreak as new problems emerge. We are now in an era of rampant inflation and central banks are trying to remedy this by raising interest rates.

US CPI data (consumer price index), published on October 13, came in higher than expected (8.2% year on year), a negative impact on the price of bitcoin. But inflation is not the only problem, the world economy is also struggling with the energy crisis, which affects Europe more than the US, due to its strong dependence on Russian natural gas and raw materials.


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