Analyst Announces BTC Price Prediction for Both Scenarios.
Investors are waiting for the April consumer price data to be announced. The Consumer Price Index (CPI), an important indicator of inflation, is expected to show an improvement compared to March.
However, if the data reveals unexpected shocks, the price of Bitcoin, the world's largest cryptocurrency, could fall as much as 13% to $53,000, according to a report by digital asset trading company Zerocap.
"An unexpectedly high #CPI could trigger a media frenzy and lead to short-term declines in risk assets given current concerns about stagflation," Zerocap warned in its report on Monday. Zerocap,on the other hand, added that it could push Bitcoin back to $65,000 if data shows hopeful signs that inflation is cooling.
Crypto enthusiasts are expected to examine ##ETFvsBTC data for any indication that inflation is continuing or decreasing. According to analysts, a decline in inflation could prompt the ##ETFvsBTC to lower interest rates, which could benefit riskier assets such as Bitcoin by lowering the cost of borrowing and therefore investment.
Markets are expecting a rate cut in September after employment and wages in the US were lower than expected the previous month, investment giant BlackRock said in its market report on Monday.Despite short-term uncertainties, the long- term outlook for the U.S. economy remains positive, according to David Brickell, head of international distribution at #FRNT Financial, and Chris Mill, a former forex trader. "Given the emerging macro dynamic, it is not a question of if we will make new highs for Bitcoin, but when," he wrote in the "Connecting the Dots" newsletter. they wrote.
