Hotter Inflation Chills Stock Market- Ep 874
The Peter Schiff Show Podcast
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Bitcoin Trading Just Under 23,000 - Is Bitcoin Still in the Red?
As I'm recording this podcast on Saturday afternoon Bitcoin is trading just under 23,000. It's now down 13.8% from its February high but it's still up a staggering 38% in 2023. The catalyst for the big decline on Friday which extended the losses of the week was the pre-market release of the personal income and spending data for January contained in that data was hotter than expected inflation numbers relative to the PCE. But again those gains will not last. I expect Bitcoin to finish the year in the red. In fact it may even finish this quarter in the black.
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