Cryptocurrency: Bitcoin Falls To At US$ 18,282, US Inflation Up To 8.2%

The US retail inflation is not showing any indication to cool down, investors are worried about it. CPI in September stood at an 8.2% YoY gain, with a 0.4% rise from the last month. As the retail inflation data came out, cryptocurrencies started to show a falling trend. Today, on October 13, Bitcoin fell to around US$ 18,282.

Investors are expecting that the US Federal Reserve will stay firm on its path to raising the interest rate to control inflation. With this raise, the assured income options like the US bonds will be more profitable, keeping the volatile assets down.

However, alter today, Bitcoin recovered to around US$ 19,215. Bitcoin, in the last 5 days fell by 1.13%, and in the past 1 month, it has fallen by 4.77%. Showing a falling trend after the US retail inflation data publication, Ethereum was quoted at US$ 1,273.50, down by 1.62%. Yesterday, Ethereum closed at US$ 1,294.50. Litecoin was quoted at US$ 50.88, up by 2.60%, Dogecoin was quoted at US$ 0.0590 up by 1.35%, and Cardano was quoted at US$ 0.3758 up 1.37% today, till last traded.

Meanwhile, the US stock markets recovered significantly from the bear zone today. S&P 500 was up by 2.12%, stood at 3,652.83 points, and Nasdaq Composite was up by 1.60%, stood at 10,583.84, till last traded. However, the US Dollar index quoted at 112.39 today, falling by 0.82%.

However, the volatility in the cryptocurrencies is lower than the stocks this month. Commenting on that, ARK Investment Management analyst Yassine Elmandjra told Bloomberg TV, "Low volatility in Bitcoin might not necessarily be a good thing, especially if it's on low volume."