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US data hit Bitcoin: 11-month low!

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Bitcoin fell below 30 thousand dollars after US inflation data.

According to the news in Bloomberg HT; Bitcoin slumped to a nearly 11-month low at $29,085.

DECREASE CAN ACCELERATE

Analysts state that the decline may accelerate if it falls below the critical threshold of 30 thousand.

Other cryptocurrencies also fell after the announcement of inflation data.

Bitcoin Cash lost 11 percent, while Dash fell 16 percent.

According to the data announced today in the USA, inflation exceeded the assumptions of 8.1 percent with 8.3 percent annually in April. The information also strengthened the projections that inflation will remain higher for a long time and that the Fed will continue its aggressive rate hikes.

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