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Favorable Altcoins Continue To Dip as US Inflation Jumps -Breaking

by Mike Robinson

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While US Inflation Rises, Favorable Altcoins Keep Falling
  • Inflation in America has reached an all-time high that was not witnessed for 40 years.
  • This is making altcoins, such as SOL, and other coins fall with it.
  • The dominance indicator increased by 0.5% to 40%

Financial difficulties seem imminent, as US inflation is at an all-time high that has not been seen since 1940. Even more important, the inflation is slowly driving down altcoins like XRP and (SOL).

According to experts, these important altcoins may see more declines as they lose support. The crypto industry will continue to experience highs and lows, as it always does. This is due to public fear and greed.

Global inflation is causing public fear. The total market capitalization for crypto markets fell by 2.8%. This means that $2.08 Trillion was the new total price.

Altcoins are on the decline but there is a slight uptake in the Bitcoin dominance. The Bitcoin dominance index grew from 0.5% up to 40.01%. This is quite a leap.

Meanwhile, the Bitcoin Fear & Greed Index is currently at 50. This indicates that the market remains neutral. Once again, this is a good sign for the crypto market as just a couple of weeks ago, the meter was at ‘fear’ and ‘extreme fear’.

The financial market is in serious trouble and investors are looking for ways to protect their assets. Perhaps next week onwards we may see the meter go up to the ‘greed’ position.

According to CoinGecko, Bitcoin’s current price is $43,386, at the time of this writing. CoinGecko also reports that the SOL price is $105.29 while the XRP price is $0.81. Many experts predict that crypto will soon return. A lot of experts said that Q1 would end and Q2 will begin soon. This is good news for crypto markets.

These times are turbulent, but we could see an exciting twist of events as we enter these times. Are crypto communities able to rally at the right time in order to make expert predictions? Or will FUD collectively win the day?

Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. This article is not intended to be used as investment advice. CoinQuora urges users to conduct their own research prior to investing in cryptocurrency.

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