Bitcoin Hits $44,000, Showing Investor Confidence

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Bitcoin surpassed $44,000 yesterday as crypto investors expect the U.S. Federal Reserve (Fed) to go easy on rate hikes following the release of U.S. inflation figures in line with market expectations.

By 9:40 p.m. ET yesterday, the bitcoin price had risen 2.19% to $44,378.42, only to drop to the current price (Jan. 14) of $42,697.64.

The U.S. Department of Labor reported that the Consumer Price Index (CPI) rose 7.0% in December from a year earlier. This is the highest level since June 1982 and in line with analysts’ forecasts.

Guido Buhler, chief executive officer of Swiss bank SEBA, said that he was confident Bitcoin would reach $75,000 this year. This will be driven primarily by orders from institutional investors.

Bitcoin, meanwhile, is finding more supporters in U.S. sports. After several NFL stars have already come out, NBA players are now following suit.

Bitcoin, meanwhile, is finding more fans in U.S. sports. After several NFL stars have already come out, NBA players are now following suit. Klay Thompson and Andre Iguodala now want to receive part of their next salary in Bitcoin.

Thompson tweeted Thursday, Jan. 10, “I’m in Bitcoin because I believe it’s the future of money.”

His teammate Iguodala then tweeted, “Bitcoin is the future, Klay Thompson and I are both believers.”

That certainly sounds confident for the most popular cryptocurrency.

The Spot Market is Open

Friday, January 14, 2022

Crypto
Updated at
USD
Price

Change

%Change
08.55 BTC42,639.04-1,220.14-2.78
08.55 ETH3,263.53-100.21-2.98
08.55 LTC139.65-0.81-0.58
08.55 BNB479.14-6.29-1.30
08.55 XRP0.77-0.02-2.93
08.55 ADA1.24-0.06-4.61
08.55 DOT26.74-0.31-1.15
08.55DOGE0.180.00+2.13
08.55 UNI15.59-0.79-4.82
08.55 LINK25.06-1.31-4.97

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