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Find all the economic and financial information on our Orishas Direct application to download on Play StoreLeading cryptocurrency, bitcoin continues to fall on Friday.
One bitcoin was trading at $19,142.69, down 3.65% at 3:00 pm. Inflation hit 9.1% in June on a year-over-year basis. The unveiled annual rate would be significantly higher than the market forecast. With market participants fleeing to investments deemed safer such as government bonds, the tightening of monetary policies could weigh on risky asset classes like bitcoin. The bearish potential for bitcoin therefore remains. Remember that Bitcoin had already sunk to $17,744.90 in mid-June.
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