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Ethereum
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$3,444.16 -2.39683
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BNB
BNB (BNB)
$591.00 -1.78028
BNB price
Solana
Solana (SOL)
$178.50 -3.15717
Solana price
XRP
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$0.6039470 1.31026
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Shiba Inu
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$0.0000176 -3.66375
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Pepe
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$0.0000119 -5.30169
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Bonk
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Bitcoin
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$67,469.00 -0.87771
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Ethereum
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$3,444.16 -2.39683
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BNB
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Solana
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XRP
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Shiba Inu
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Pepe
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Bonk
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$0.0000299 -8.64118
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Bitcoin
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$67,469.00 -0.87771
Bitcoin price
Ethereum
Ethereum (ETH)
$3,444.16 -2.39683
Ethereum price
BNB
BNB (BNB)
$591.00 -1.78028
BNB price
Solana
Solana (SOL)
$178.50 -3.15717
Solana price
XRP
XRP (XRP)
$0.6039470 1.31026
XRP price
Shiba Inu
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$0.0000176 -3.66375
Shiba Inu price
Pepe
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$0.0000119 -5.30169
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Bonk
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$0.0000299 -8.64118
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Bitcoin holds strong as inflation causes chaos on UK markets

bitcoin-holds-strong-as-inflation-causes-chaos-on-uk-markets
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Follow-up
Bitcoin holds strong as inflation causes chaos on UK markets

In an in-depth analysis by the CryptosRUs YouTube channel, recent developments in the global cryptocurrency markets are examined against the backdrop of rising inflation in the UK and US and significant crypto initiatives in China.

In recent weeks, UK and European markets have experienced a substantial sell-off following news that inflation has risen to an unexpected 6.8% – over half a percent more than anticipated. Simultaneously, the US grapples with a looming debt ceiling crisis, concerns over commercial banking, and a potential credit crunch.

According to George, the presenter of CryptosRUs, the cause of heightened inflation levels seems complex. It is allegedly tied to large amounts of printed and distributed money, devaluing the currency and making other goods relatively more expensive.

Central banks are seeking solutions to the issue of excessive money printing by governments. Still, there’s a problem: they cannot simply retract the money without causing harm to the economy. The purported dilemma here is that if inflation rises in the US, it may lead to disaster. Conversely, not raising the debt ceiling may cause further inflation.

Bitcoin (BTC), a prominent player in the cryptocurrency world, experienced a dip amidst these financial fluctuations. However, the sell-side risk ratio for bitcoin currently stands at an all-time low due to its relative lack of volatility. Bitcoin’s network remains decentralized, unstoppable, and grows in the use case.

Moreover, cryptocurrency ecosystems are expanding. Apps like Venmo, Cash App, PayPal, and Robinhood allow users to send or receive bitcoin between apps. Contrary to traditional banking, bitcoin transactions don’t rely on banks as intermediaries and can be directly controlled by the user.

Tesla CEO Elon Musk, though known for his affinity for dogecoin (DOGE), has warned the public against investing all their resources into the cryptocurrency.

In the Asian markets, George suggests that China is demonstrating a significant shift towards cryptocurrencies. Starting June 1st, Hong Kong is expected to permit cryptocurrency trading.

This move, coupled with the growth of the Chinese-based blockchain platform conflux, indicates China’s move to embrace cryptocurrencies. Nevertheless, restrictions remain for Hong Kong traders who can only purchase cryptocurrencies from a pre-approved list, although there may be exceptions for Chinese-based ones like conflux.

Amidst the overseas sell-offs, the market presents a mixed picture, but bitcoin’s volatility remains low. Financial advisors recommend maintaining a 25-30% cash portfolio for stability.