Based on the core Consumer Price Index (CPI), which excludes volatile items like food and energy to provide a clearer view of underlying inflation trends:
For January 2024, the year-over-year core CPI was 3.87%.
In 2023, the core CPI varied significantly, starting at 5.54% in January, dipping to around 4% towards the end of the year, and ending at 3.91% in December.
Throughout 2022, the core CPI saw a gradual increase from 6.08% in January, reaching a peak of 6.31% in October, and then slightly declining to 5.69% by December.
In 2021, the core CPI was lower at the start of the year, with January at 1.49%, and saw a gradual increase throughout the year, ending at 5.63% in December.
To calculate the equivalent value of 1 Bitcoin in 2024 dollars, considering the actual core inflation rates, we will use the December figures for each year as representative annual rates. Let's use these rates for a calculation.
Considering the actual core Consumer Price Index (CPI) inflation rates, to maintain the same value as its peak of $69,000 in 2021, 1 Bitcoin would need to be priced at approximately $80,043.78 USD in 2024. This calculation uses the core CPI rates of 5.63% for 2021, 5.69% for 2022, and 3.91% for 2023, providing an adjusted value that reflects underlying inflation trends without the impact of volatile items like food and energy.
For January 2024, the year-over-year core CPI was 3.87%.
In 2023, the core CPI varied significantly, starting at 5.54% in January, dipping to around 4% towards the end of the year, and ending at 3.91% in December.
Throughout 2022, the core CPI saw a gradual increase from 6.08% in January, reaching a peak of 6.31% in October, and then slightly declining to 5.69% by December.
In 2021, the core CPI was lower at the start of the year, with January at 1.49%, and saw a gradual increase throughout the year, ending at 5.63% in December.
To calculate the equivalent value of 1 Bitcoin in 2024 dollars, considering the actual core inflation rates, we will use the December figures for each year as representative annual rates. Let's use these rates for a calculation.
Considering the actual core Consumer Price Index (CPI) inflation rates, to maintain the same value as its peak of $69,000 in 2021, 1 Bitcoin would need to be priced at approximately $80,043.78 USD in 2024. This calculation uses the core CPI rates of 5.63% for 2021, 5.69% for 2022, and 3.91% for 2023, providing an adjusted value that reflects underlying inflation trends without the impact of volatile items like food and energy.