Inflation persists while Bitcoin hits a milestone

Since last week:

Cryptocurrency investors got the news they’ve been waiting for while inflation proves to be persistent. 

Inflation persists while Bitcoin hits a milestone

1. The Bitcoin ETF

The long-awaited approval for Bitcoin ETFs came this week. This gives the coin exposure to a wider audience of investors and provides the asset with a greater degree of legitimacy. This is one of the tailwinds expected to push Bitcoin, and other cryptocurrencies by extension, to new highs. Learn more about what coins are expected to benefit the most from this news by clicking here. 

2. The CPI Numbers

Consumer prices rose faster than expected in December, at 0.3%. This pushed the annual rate of inflation to 3.4%. A lot of this is because of rising shelter costs, and shows that consumers can still expect some volatility even as the Fed has all but declared victory at this point. That’s why you’ll need the tools to invest so that you can thrive despite the volatility. You can find those here. 

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3. Record EV Sales

According to estimates from Kelley Blue Book, 1.2 million vehicle buyers went electric in 2023, setting a record. That puts the total share of electric vehicles in the US at 7.6%, up from 5.9% in 2022. These numbers are likely going to keep climbing these next few years with rising EV demand. You can profit by buying the lithium that keeps them running. Learn more about that by clicking here. 

4. The UK’s Nuclear Expansion

The UK is moving toward the largest expansion of nuclear power it’s seen in 70 years. This will involve approving one or two new reactors every year between 2030 and 2044 as the country tries to forge ahead to its goal of reaching net zero by 2050. Moves like this are why uranium demand is going up and not coming down. Here’s how you can profit. 

What to Look For:

Consumer prices will continue to be something to watch. Even though prices for things like TVs and cars are dropping, it makes more sense to watch food prices to see where consumer sentiment is.

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Keep your eyes open,

Ryan Stancil

Ryan Stancil
Editor, Daily Profit Cycle