Bitcoin Fails to Move Below $18,000 Again After Bad Inflation Report, Crypto Price Bottom May Lead Uniglo.io to Rise in 2023

Inflation continues to be a giant battle for the Federal Reserve to manage.

After a disastrous report for September, showing a +8.2% increase in prices over the year in September, or +6.6% excluding food and fuel, which tend to be more volatile.

These are the fastest increases since the early 1980s, which was an incredibly difficult time for the most vulnerable.

With these sharp increases in prices, those on lower paychecks will find their spending power eroded and likely struggle to meet monthly housing budgets.

Despite this, crypto still fails to fall below key prices posted in June this year.

Bitcoin hit a low of around $17,700 on various exchanges and achieved a relief up to $25,000 in August. Since then, the market-leading cryptocurrency has struggled, returning below $20,000.

Despite the dollar continuing its rally and rate hikes not stopping, bullish divergences are forming on time frames as high as the weekly, showing that many believe rate hikes have already been priced in and the market has bottomed.

This bodes well for Uniglo.io, ushering in what is likely to be the height of interest rate hikes as the economy begins to cool. The cooling of the economy would be the perfect time to invest as it is when most markets have bottomed out, with institutions usually making the first moves to buy.

Set to launch in November, Uniglo.io is a token on the Ethereum network. The project concept involves a token backed by a vault of assets, while the team’s signature Ultra Burn system will drastically reduce supply over time.

The way the GLO token works would mean that fewer tokens are backed by an ever-increasing vault, almost guaranteeing positive price action.

With this model launched at what almost certainly appears to be the market bottom, Uniglo investors currently buying the latest allotment of pre-sales will be well-positioned to find themselves in significant profits by the end of 2023.

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