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
6 reasons why you shouldn’t take out a loan
A loan is when you have no money. But you live as if you have them. Folk wisdom
At $1200 or at $10,000. Where is Bitcoin heading?
Bitcoin's steep rise in recent weeks has made traders and investors nervous. Since the spread of the crypto industry has become a global phenomenon in recent years, experts, analysts and ordinary users are trying to predict the behavior of crypto assets.
