The Consequences of US Inflation for Bitcoin, Solana and Cardano

When the US inflation statistics of the September month were announced, the cryptoworld was in a new instability situation. But not in a negative way. As the result of the announcement of the inflation data, BTC price reached his key level for the last time, being valued at more than $19,000.

As the biggest cryptocurrency in the cryptoworld raised, other cryptos (ETH, Solana, ADA, etc.) also followed him. On October 14, the BTC price is hesitaing between $19,400-$19,900, which means it increased by 7% after October 13th statistics. Solana, Ether and ADA (Cardano) have increased by 11.12%, 9.67% and 5.75% respectively.

Bitcoin’s Price is Unpredictable

As of many experts, Bitcoin price is being very changeale and unpredictable for the last weeks. Since June (when BTC’s price was $17,700), the price of the King currency has been hesitating between $17,700 – $20,000 and that is too instabile for the biggest cryptocurrency. Although, Bitcoin has already started its growth and for several months, its price can increase a lot, but it’s not for sure.

Not The Best Period for Cardano

Since the summer of the year of 2021, Cardano is gradually decreasing. From $2,8 in August (2021) it decreased to $0,37 (though it is higher than yesterday’s price for 6,33%) on October 14. It’s obvious, that any negative news about ADA will affect badly on the price of this cryptocurrency. And as of many professionals, if the price will keep on descending, it will reach the lowest point ever.

Solana’s Destiny: The Second ADA?

Solano’s situation is very similiar to Cardano’s, yet, SOL’s price has not been descending as much as the price of ADA.

Today, Solana is valued at $31.14, as it increased by 11% after the previous day.

Solana and Cardano are being the Ether’s competitors and if we compare them, the strongest is Ether and the weakest – Cardano.  

Leave a Reply

Your email address will not be published. Required fields are marked *