Bitcoin’s price went through increased volatility over the past couple of hours, plunging to a local low of $20K and soaring to $20,600 in the moments after that.
This seems to be related to the fact that the US Bureau of Economic Analysis (BEA) published the numbers for the Personal Incom for September.
- After trading relatively flat for the day, BTC’s price suddenly dropped to exactly $20,000 (on Binance) and then shot up to $20,600 moments later.
- At the time of this writing, the cryptocurrency is found at around $20,400.
- The increased volatility has to do with the publishing of the US Personal Income numbers for September.
- According to the Bureau of Economic Analysis, personal income in the country is up 0.4% in September. Disposable personal income also increased by 0.4%, whereas personal consumption expenditures are up by 0.6%.
- The PCE price index increased by 0.3% and 0.5% if we exclude food and energy.