Analyst Warns Of 10% Bitcoin Price Drop Ahead Of CPI Data

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Analyst Warns Of 10% Bitcoin Price Drop Ahead Of CPI Data - NewsBTC

Quick Summary:

I’m slightly bearish going into CPI tomorrow.pic.twitter.com/dfpUc2df1k — Michaël van de Poppe (@CryptoMichNL) November 12, 2024 Growing Investor Trust Famous crypto expert Michaël van de Poppe, the founder of MNConsultancy, said that the current state of affairs in the crypto market corresponds well to the positive assessment of Bitcoin.

Related Reading: Shiba Inu Strategic US Hub Plan Sends SHIB Price On A 23% Moonshot According to Van de Poppe, short-term regulatory actions will benefit Bitcoin, but their long-run consequences might be something more complex if control for inflation is not handled well.

Recent trends imply that should inflation remain lowered, the Federal Reserve might cut interest rates—historically this has had a positive effect on Bitcoin prices.