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Home»Web 3»How the cost of hand soap and bananas affects your crypto portfolio
Web 3

How the cost of hand soap and bananas affects your crypto portfolio

2023-11-15No Comments2 Mins Read
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TL; DR

  • Yesterday’s CPI data showed that inflation has not risen, leaving the market hoping that interest rates will not rise.

  • As a result, markets recovered today.

Full story

Isn’t it a bit strange that the cost of hand soap and bananas has an effect on your crypto portfolio?

It sounds like a strain, but it’s true.

The cost of all the things we use in our daily lives is tracked through the Consumer Price Index (CPI).

And CPI data affects everything, not just crypto. We’re talking mortgage/car/credit payments, home prices, stock markets – it’s all here!

This is how it works:

If the price of the things we consume increases, it means we are experiencing inflation. Too much inflation and the Federal Reserve raises interest rates.

(Interest rate increases make all our varied loan payments more expensive → force us to spend less → force companies to lower their prices → lower the CPI).

The bad news: everyone has been preparing for the latest CPI data to be quite gloomy (leading to higher interest rates and larger loan repayments).

The good news: that didn’t happen! In fact, yesterday’s CPI data shows that inflation is holding steady, rather than rising.

The result: there’s a greater chance that the Federal Reserve will completely relax with all these rate hikes – or better yet – reduce them!

In that case, we could all spend less on paying off our loans and more on everything else Real important: cryptocurrency.

(Or family or whatever. Idk, shut up.)

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See also  This crypto analyst correctly predicted Bitcoin's price rise to $75,000, here's the full prediction
Affects bananas cost Crypto Hand portfolio soap
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