Our most recent Bitcoin price forecast indicates that its value will increase by 1.66% and reach $31,394 by July 15, 2023. Our technical indicators signal about the Bullish Bullish 87% market sentiment on Bitcoin, while the Fear & Greed Index is displaying a score of 57 (Greed).
The world's largest cryptocurrency has recently found support due to plans by fund managers, including BlackRock - the world's largest asset manager - to launch a U.S.-listed spot bitcoin exchange-traded fund(ETF).
Standard Chartered boosts 2024 bitcoin forecast to $120,000
Standard Chartered said the rationale for its predicted price rise was that miners who mint the 900 new bitcoins produced each day around the world would soon need to sell fewer to cover their costs - mostly electricity to power super-computers
we say xrp litterally Ripping apart yesterday after it won the judgement that its not a security
The hodlerz made a great profit
but what could be the next move :
In my opinion we can see xrp temporarily going down before going up and gaining massive pump again. So it would be best for us to start doing #Dca once it goes down a little bit. We can soon reach 1$ or even more , who knows 😉
r u bullish or bearish on the neq #4 currency @Xrp ?
How do various news data (news background) affect the cryptocurrency market? Let's break it down.
The main source of influential news is the United States. All economically important news happens there, as the Dollar is the main currency.
Let's analyze recent data on the example of the number of initial jobless claims in the US.
Date - 20.04 at 3:30 pm
Previous: 240K
Forecast: 240K
Actual: 245K
Explanation: The actual values turned out to be higher than expected (245K versus 240K people), which means that the number of unemployed increased, directly affecting the USD (Dollar).
If the Dollar drops, cryptocurrency grows, as people invest fiat money.
This is what the Federal Reserve (Fed) does by tightening its monetary policy, i.e. removing excess money from the market. Thus, the Fed, through its tightening, can direct the market where it needs to go, increasing or decreasing inflation in the country. And since other countries are tied to the Dollar, they follow the US economy.
Should you trade on the news? Definitely yes, but you need to be very careful and knowledgeable during the period of news releases. Often, understanding the news, you can accurately predict the nearest direction, for example, of the BTC, ETH, or any other coin whose price is influenced by this news