Bitcoin: A tale of how naysayers were plunged into losses in last 24 hours
Following the release of the September Inflation Report Data that showed that the consumer price index (CPI) rose 8.2% in September on a 12-month basis, the cryptocurrency market was hit momentarily by severe volatility.
The price of the leading coin Bitcoin [BTC] had seen low volatility in the past few weeks as investors attempted to establish a bear market floor.
However, immediately following the release of the Inflation Report Data, the king coin suffered some price volatility, and its price fell below the $19,000 mark to exchange hands briefly at $18,300.
According to data from blockchain analytics platform Santiment, this decline represented BTC’s lowest price level since 21 September and was foisted upon the market due to panic selling by “weak hands.”
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