Bitcoin jolted by inflation pressure, but monetary expansion supports long-term case

Renewed concern over US inflation could weigh on Bitcoin in the near term as markets reconsider the prospect of higher interest rates. Over the longer run, however, fiscal strain and monetary expansion strengthen the case for holding the cryptocurrency. Speaking on Yahoo Finance on Oct. 14, crypto analyst Scott Melker said investors should look beyond short-term market swings driven by economic releases and focus on the likelihood that the government will ultimately expand the money supply. US headline consumer prices rose 0.6% in September from the previous month and 3.7% from a year earlier.

Source: TokenPost