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Cryptocurrencies Price Prediction: Bitcoin, XRP & US Inflation – American Wrap 12 July

US Department of Justice moves 9,000 BTC seized from Silk Road

The United States Department of Justice (DoJ) seems to be taking measures to move the Bitcoin it holds with a view to potentially selling it off. This is evidenced by the sudden move in the BTC held by them, which raised concerns among investors on Wednesday.
Paul Barbadoro, the presiding Judge in the SEC vs LBRY case, took a completely different stance on the status of LBC token being or not a security than the one he had taken in the January ruling. Back then, it had been clarified that the judge’s order does not apply to secondary market sales of the LBC token. In the final ruling on July 11, Judge Barbadoro decided to exercise judicial restraint and refused to comment on the status of the LBC token as a security or non-security in secondary market transactions.
 
Inflation represented by the US CPI, came in below market expectations of 3.1% for June. With US CPI inflation rate falling within the projected range of 3% on a yearly basis, Bitcoin price spiked higher to hit the $31,000 mark.
 

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