Bitcoin prediction price ! 🚀
The pump is coming from the CPI (consumer price index) data released by the government and there is really good news coming.
What is CPI and how can we determine if the data show a good or bad news for the markets.
First, CPI is working in a YTD schedule and with a month of delay. So for example the data releases from may 15 are about the month of April 2024 and the data of the month of April from 2023 are replaced by it. It’s always working on a percentage of augmentation of inflation so of the CPI. The percentage for April 2023 was 0.4% and the percentage obtained for April 2024 is 0.3%.
It’s not linear some other month had 0.2 or 0.6, it depends.
Second, the prediction by the major analysts was a reduction from 3.5% inflation overall to 3.4% overall. And you guessed it right, it gone to exactly 3.4%.
So the math are a little more complex than just an average of number and addition between numbers. But it is really a good news because we at least see NO increase of inflation so we can potentially see a decrease.
Why a decrease of inflation is even better than it sounds ?
Because the fed is up to cut interest rates if we see inflation go down to 3%
That means a pump for any asset class basically.
Price prediction of Bitcoin :
Only because may is the best month for markets in general and we seen that, time and time again, we should see bitcoin rise around the 67 000$ a $BTC .
Now combine with the hype of maybe seeing a rate cut late summer by the Fed because of the CPI data that is probably going to be favourable for a consideration of a cut, for the month of may, I assume a 70 000$ for beginning of June end of may a totally possible scenario.
The end price bracket for Bitcoin based on my current analysis sit between a 65 000 $ in the worst case and 71 500 $ for BTC in the best case for the end of May.
