Bitcoin Recovers to $100,000 Level in 8 Days
The cryptocurrency with the largest market capitalization, Bitcoin, has recovered to the $100,000 level after 8 days.
According to the US cryptocurrency exchange Coinbase, at 3:13 PM Eastern Time on the 15th (5:13 AM Korean time on the 16th), the price of one Bitcoin was trading at $100,281, up 3.64% from 24 hours earlier.
This marks the first time Bitcoin has reclaimed the $100,000 level since the 7th, after 8 days. Ethereum (7.1%), Ripple (10.1%), and Dogecoin (6.4%) also showed a simultaneous rally.
Bitcoin recovered to the $95,000 level following news that the US Producer Price Index (PPI) for December last year, announced the previous day, fell short of expert forecasts. The rise accelerated on the day as the Consumer Price Index (CPI) matched expectations. In particular, the core CPI's year-over-year and month-over-month increases were each 0.1 percentage points below the expert forecasts compiled by Dow Jones.
The US economic media CNBC evaluated, "The December core consumer price index showed a slower increase than expected, marking another bright inflation figure following the December producer price index announced the previous day."
The approaching inauguration day (20th) of Donald Trump, a pro-cryptocurrency US president-elect, also appears to have influenced the upward trend.
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Additionally, the news that Israel and the Palestinian armed group Hamas have reached a ceasefire agreement 15 months after the outbreak of the Gaza war is also analyzed to have acted as a factor in cryptocurrency prices.
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