Bitcoin Could Potentially Dip to Below $20K, Says US Inflation Statistics

Bitcoin (BTC) is currently standing at a value of up to $26,085. If the token witnesses a correction for inflation, the statistics still expect it to be at the $20,000 mark. As per the data that the sources provided the price performance of Bitcoin has nearly remained static following 2017. One such data provider is named the US Inflation Calculator.

BTC Could Likely Slump below the $20K Mark in 2023 According to Statistics

While fluctuating after moving above the $20,000 point, BTC’s all-time high price jumped in the year 2017. At that time, the trading pair BTC/USD reached a high spot of up to $69,000. Nevertheless, in the case of inflation, the auction price of Bitcoin looks very dissimilar. As of the 25th of August, $20,000 worth of Bitcoin bought in the year 2017 now stands at $24,942.

In other words, the present Bitcoin spot value is $26,050, according to the data that TradingView provided. The statistics denote 6 years of somehow static price action of the top crypto token. In inflation-adjusted dollars, the position of Bitcoin is slightly above the market peak of 2017. BTC Gandalf (a marketing officer operating at BTC mining firm Braiins) also acknowledged this.

The Top Crypto Token Is Hardly Above Its Peak of 2017

Responses regarding this topic on X further mentioned that the base for the respective calculation was the inflation numbers. This signifies that the BTC/USD trading pair may even get a decreased place as compared with its former cycle peak.

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The US Debt Clock says that the national debt presently stands at more than $32.7T. In the meantime, the crypto community is paying a lot of attention to the US inflation while considering risks. The statistics point toward a slowdown. On the other hand, the community focuses its hopes on the Federal Reserve to harmonize economic policy and perceived reality.