EN 
???? BTC | $32,620 (-291, -0.9%)
???? ETH | $1,930 (-87, -4.3%)
???? XRP | $0.62 (-0.01, -1.6%)
???? LTC | $131 (-2, -1.6%)
Bitcoin’s key promise – that it becomes more attractive in times of higher inflation, has failed to play out for yet another month. Bitcoin may however be weighed down more by a strengthening US Dollar, which has traditionally been very bearish for cryptocurrencies.
Expectations of an easy monetary policy tapering have also risen after yesterday’s inflation data release, yet another bearish development for risk-on assets such as Bitcoin itself. The St Louis Fed President declared earlier this week that “I think the time is right to pull back emergency measures”, a significant indicator of central banker sentiment.
UK police announced the seizure of $250M in cryptocurrencies, as part of a larger investigation into money laundering operations. Similarly announced seizures earlier in the year has tended to cause temporary dips in the crypto market, largely thanks to fears of unjustified government confiscation of crypto assets.
