How the rising trend in CPI will affect Bitcoin price in short to medium term? - page 2.

Sayeds56

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Quote from: Hamza2424 on February 15, 2023, 01:17:33 PM

CPI report always impacts the crypto market and the stock market directly, this time the results that we were expecting are not the same but still results are quite good.
BUSD Fud is still here but things are clear now that Binance will continue to support BUSD. BUSD lost $700M in Market capital. I am not sure how Binance is going to maintain the Future minting of the BUSD.

It is great to see that impact of negative CPI report was short lived and it didn't cause any panic selling in the market & the price of Bitcoin is now recovering.This morning, as Asian markets opened , Bitcoin reached a high of 2427,00 which is the highest price of last 6 months. many well known expect that Bitcoin will hit $30,000 before experiencing a bearish trend again.

Although Binnce is a leading crypto exchange with a large cash reserves, the recent FUD regarding BUSD did temporarily harm its reputation. However, it seems that Binance has resolved this issue and is now in better position.

Husires

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It seems that the opposite is what happened, we witnessed strong rises in the price, which is an opposite sign of what you had expected.
Am I the only one who sees that these things are not interconnected, and when any correlation occurs, it is just a coincidence?
the price is still within the normal frequency range, which means that we can easily go back to the bottom of this area between 21k-24k.

Hamza2424

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CPI report always impacts the crypto market and the stock market directly, this time the results that we were expecting are not the same but still results are quite good. After the CPI report and Paxos press release market faced and temporary panic situation but at the same time CZ played a good move. Now the market is moving in good motion.

As you can see the market is now moving close to $23k and 21k is the strong support for Bitcoin now. The temporary impact of the report seems already ended. BUSD Fud is still here but things are clear now that Binance will continue to support BUSD. BUSD lost $700M in Market capital. I am not sure how Binance is going to maintain the Future minting of the BUSD.

albon

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Quote from: Sayeds56 on February 14, 2023, 09:59:16 AM

The consumer price index(CPI) data released today , fell short of market expectation and it is showing sign of increasing once again and it may lead to concerns about inflation and potential harsher interest rate increase in future. This is likely to create negative sentiment in all financial markets including Bitcoin.Hopefully, FED will take necessary action to curb this increasing trend.

Despite this, I believe that its impact is expected to be temporary, and that Bitcoin's price will eventually recover over time, and market will continue moving upwards.

What are your thoughts on this?

What I see is that the Consumer Price Index (CPI) data failed to put pressure on the cryptocurrency market. Bitcoin and Ethereum surged as the market calmed down after the US inflation data. And it will have a significant impact on Bitcoin in achieving great gains. Investors are generally looking for cryptocurrencies such as Bitcoin as a way to hedge against hyperinflation, which will result in increased demand for Bitcoin, which will increase the possibility of an increase in its price, but we must bear in mind that the crypto market is very volatile and that is why it will be very difficult to predict the exact direction. It is worth noting that it was not expected that the inflation rate in the states would drop to 6.4%, down from 6.5%, which is considered a decrease from last year, and this decrease in the core inflation rate may be due to other economic indicators improved, and then came firm statements about interest rates from US Federal Reserve officials to address inflation, as it is not the best news for the markets, but it will be in the interest of the dollar, so yes, I agree with you, Bitcoin will recover over time, and the market will continue to rise.

EarnOnVictor

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Inflation bit last year, it's my hope that it doesn't repeat this year. Nonetheless, I had warned those that claimed that inflation is gone severally, it was a clear correction then and it has indicated its stance on bullish reversal. Who knows for how long this would last? The US CPI released yesterday as shown below is an indication, and it did not leave any of them out (Core, Normal and Yearly).

This has started affecting the FX market, gold included, but the crypto market is still stabilising. This might be another time for Bitcoin to prove itself as a dependable asset during inflation. But I doubt this if I must be sincere.

Sayeds56

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Eloncoin.org - Mars, here we come!

The consumer price index(CPI) data released today , fell short of market expectation and it is showing sign of increasing once again and it may lead to concerns about inflation and potential harsher interest rate increase in future. This is likely to create negative sentiment in all financial markets including Bitcoin.Hopefully, FED will take necessary action to curb this increasing trend.

Despite this, I believe that its impact is expected to be temporary, and that Bitcoin's price will eventually recover over time, and market will continue moving upwards.

What are your thoughts on this?

Topic: How the rising trend in CPI will affect Bitcoin price in short to medium term? - page 2. (Read 312 times)