Wall Street

Soaring Inflation Could Dampen Crypto, Analysts Say

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The Street

By Rob Lenihan Soaring inflation will make investors less inclined to buy cryptocurrencies, some analysts say, while others see a silver lining amid the high numbers. The last time prices moved this fast, Ronald Reagan was president, gasoline cost about $1.353 a gallon and there was no such thing as bitcoin. But tempus fugit and, as cryptocurrencies becomes a factor in many people’s finances, the sector has had to contend with inflation, which surged to a fresh 40-year high last month, according to data from the Bureau of Labor Statistics. ‘Bitcoin Needs Risk Appetite’The headline consumer pri…

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