Four days holding at the level of US $ 47,000, the price of Bitcoin on Friday (1/4) fell below US $ 45,000. The crypto market is mostly red.
The decline in the price of Bitcoin and most other cryptocurrencies occurred amid a surge in inflation in the United States.
And, amid a vote by the European Union parliament on crypto laws that the cryptocurrency industry views as unfavorable.
Referring to CoinMarketCap data on Friday (1/4) at 12:40 WIB, Bitcoin price was at US$ 44,804.46, down 4.89% in the last 24 hours.
While Ethereum fell 4.16% to $3,258.52, Cardano fell 6.37% to $1.13, and Polkadot fell 7.31% to $21.14.
The price of meme-based cryptocurrencies Dogecoin and Shiba Inu fell 7.03% to US$ 0.1351 and 8.83%, respectively, to US$ 0.00002528.
Citing CoinDesk, the US Personal Consumption Expenditure (PCE) showed an annualized inflation of 6.4% last February. This figure is the highest since 1982.
Crypto traders watch inflation closely as Bitcoin prices sometimes move after the release of economic indicators. Some investors hold Bitcoin as a hedge against inflation.
While the European Union parliament voted in favor of a crypto law banning anonymous transactions, a move the industry says will stifle innovation and invade privacy.
The law also aims to extend anti-money laundering requirements applicable to conventional payments of more than 1,000 euros to the crypto sector.
In addition, crypto laws also remove the basis for crypto payments, so payers and recipients of even the smallest crypto transactions need to be identified.
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