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The Next 2 Days Are Very Critical for Bitcoin and Altcoins! What Will Happen?
In the cryptocurrency industry, all eyes are now on the United States of America (#USA ). The data coming from the US front and the statements of US Federal Reserve (FED) chairman Jerome Powell will directly affect all financial markets.
Producer inflation data will be announced in the USA on Tuesday, May 14, at 15.30 GMT. As of now, the latest expectations in PPI data appear to be 2.2%.
After the PPI data, #FED President Jerome Powell will appear in front of the cameras at 17.00 GMT. Powell's statements may deeply affect Bitcoin and altcoins.
On Wednesday, May 15, consumer inflation data will be announced in the USA at 15.30 GMT. CPI data shows that the latest expectations are 3.4%.
#PPI and #CPI data coming in below expectations and FED Chairman Powell making soft statements may trigger sharp rises in the crypto market. In the opposite scenario, Bitcoin (BTC) is expected to fall below 60 thousand dollars.
Ted, a successful crypto trader, said the following in his post about the impact of US data on BTC:
“The big week is coming. Inflation data will be announced very soon.
We expect volatility in the financial markets and the crypto sector, but there is a possibility that inflation data will slow down for the first time in a short time.
“If expectations come true, this will be very good for risk assets such as Bitcoin.”
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