Bitcoin could test $30,000 if US inflation slows, warns Alex Kruger.
The Consumer Price Index (CPI) report is expected to be published on Wednesday. If the CPI growth is confirmed, this will mean the effectiveness of the Fed’s policy, which will stabilize the situation in the economy.
Kruger believes that further price dynamics in the cryptocurrency market will depend on the Fed’s statement this Wednesday. On Sunday, the founder of Aike Capital tweeted that Bitcoin and altcoins are "at the end of the risk curve," adding that the market has benefited significantly from the regulator's policies so far. Depending on the agency's further actions, the opposite may also happen.
Kruger expects BTC to fluctuate between $40,000 and $44,000 before Wednesday's announcement. Experts share the same sentiments, considering $40 thousand dollars a critical resistance level for the first cryptocurrency.
Subscribe to ForkNews on Telegram to stay up to date with news from the world of cryptocurrencies
You May Also Like
Apple CEO admits to personal investments in cryptocurrencies
Apple CEO Tim Cook admitted that he has personally invested part of his portfolio in crypto, but does not give investment advice to anyone.
Mark Moebius: cryptocurrency is a fanatical religion, not an investment
Mark Mobius confirmed his skepticism about cryptocurrency, despite the exponential growth of the market.
