Bitcoin exceeded $ 9000 amid fears of rising inflation

Over the past day, the rate of bitcoin has risen by 16%,ahead of the dynamics of the stock market. This rapid growth is due to the next statement by the US Federal Reserve on its readiness to buy up unlimited government bonds and other assets.

Starting from Wednesday, the price of BTC graduallyrose and today even touched $9,490, but the subsequent correction quickly lowered it. At the time of publication, the leading cryptocurrency is trading at $9,205 and bulls are trying to keep the rate from an uncontrollable collapse.

As a result of the 16% jump in Bitcoin's profitabilitybeginning of the year increased to 20%, which exceedsperformance of stocks and gold, which grew by 12% during this period. The daily growth of the BTC was more than 5 times higher than the S & P 500, which added only 3.1%, although the correlation between these assets has increased noticeably recently. From the March low of $3,800, BTC has increased by 242%.

Impulse for market growthcryptocurrency was prompted by the Fed Chairman’s statement about his readiness to further inject money into the markets, which could lead to an inflated Central Bank balance sheet of more than $6.5 trillion. In parallel with the reduction in GDP, this will contribute to a significant increase in inflation.

Analysts believe that the current breakthrough is due tofears and concerns of investors, and not technical data or the approach of halving, and a rate above $8,000 is unreasonable. In their opinion, the situation could change greatly after the bears enter the fight.

Meanwhile, altcoins picked up the dynamics of the leaderand returned to the green zone. Over the course of the day, the ether rate (ETN) increased by 8.11% to $ 221, XRP added 6.61%, rising to $ 0.229, and the Bitcoin cache (VSN) grew by 10.19% to $ 270.

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