bitcoin / 326 posts found
Bitcoin Soars Towards $24K as US Inflation Slows Down to 8.5%
Bitcoin The United States government just released the latest CPI data, indicating that inflation has finally begun to ease following several consecutive months with record-setting numbers. As with previous examples, the price of bitcoin reacted almost immediately with a surge towards $24,000. Ever since the start of the year, the inflation numbers from the US have impacted BTC’s price since the cryptocurrency is considered a widely riskier asset. For several consecutive months, the US had to announce record-breaking inflation percentages, with the latest in July being at 9.1% – the highest in over 40 years. However, due to the declining […]
Bitcoin Rallies as U.S. Inflation Cools to 8.5%
The latest Consumer Price Index print for July has fallen below expectations of an 8.7% print, hinting that U.S. inflation may have peaked. Key Takeaways The U.S. Consumer Price Index data for July has come at 8.5%, 20 basis points lower than economists’ expectations. The cooling suggests inflation may have peaked in June, meaning the Federal Reserve could turn dovish sooner than previously expected. Bitcoin and Ethereum both surged as the numbers dropped. The decline in inflation following the four-decade record print of 9.1% in June could bode well for risk-on assets like equities and cryptocurrencies. Bitcoin and Ethereum jumped […]
Bitcoin (BTC) Price Still in Course To Hit $100k Says Bloomberg Strategist, Mike McGlone
Mike McGlone, the senior commodity strategist at bloomberg bloomberg MediaConglomerate company Followers : 0 View profile , believes that Bitcoin, the most popular cryptocurrency, is still on course to reach $100,000. In the second half of 2022, oil prices will continue to fall. The U.S. Federal Reserve is likely to stop raising interest rates as a result of declining petroleum prices, which will likely indicate worldwide deflationary trends. Inflation expectations have fallen in the United States across all time horizons, according to a recent survey by the Federal Reserve Bank of New York. Such macroeconomic factors could increase gold prices. […]
Bitcoin Is Trading at a Discount, Says Bloomberg Senior Analyst
Senior Bloomberg Analyst Mike McGlone has said that Bitcoin is currently trading at a massive discount and could become global digital collateral. According to Forbes, McGlone relied mostly on technical analysis of the 100-week moving average. In July, Bitcoin reached its lowest ever price vs the 100-week moving average. This is a sign that it is trading at an “extreme discount within an enduring bull market,” said McGlone. The senior commodities analyst also touched on the Federal Reserve’s interest rate hike in the face of current inflation and what that could mean for Bitcoin. He pointed out that cryptocurrencies benefited from […]
Bitcoin in Search for a Direction, Will $24K Finally Fall? (BTC Price Analysis)
Bitcoin’s price has been consolidating between the $20K and $24K level over the last couple of months, after a rapid crash from the $30K level. The $17K-$20K support area has been holding well, pushing the cryptocurrency higher towards the $24K resistance on multiple occasions but has so far failed to overcome it. Technical Analysis By: Edris The Daily Chart Currently, the price action is suggesting that Bitcoin may finally surpass this significant level to the upside, which could pave the way for a rally towards the $30K supply zone. The 100-day moving average is currently at the $26K mark, and […]
Bitcoin Price Continues To Drop With Seven Daily Red Candles
Bitcoin You don’t have permission to access “http://www.nasdaq.com/articles/bitcoin-price-continues-to-drop-with-seven-daily-red-candles” on this server. Reference #18.34c1ce17.1659772430.10c1f47f Read More