Arslan Butt
The Bitcoin price prediction appears to have turned bullish, as BTC has rebounded above the $22,000 level and continued to gain momentum throughout the day. However, the surge in cryptocurrency prices occurred alongside the release of US Consumer Price Index (CPI) figures for January, which indicated a slower-than-anticipated decline in inflation.
Despite this, Bitcoin’s consistent price increase suggests that long-term investors are holding onto their BTC.
BTC, ETH Extend Gains Following US Inflation Report – Market Updates Bitcoin News – https://t.co/W08UpULoF1#Crypto #CryptoNews #CryptoTrends #NFT #NFTNews #NFTRelease #NFTDrop #AltCoin #AirDrop #NFTProject #NFTArtist #NFTCommunity #CNFT #CNFTCommunnity pic.twitter.com/IFNAgYlAdk
— DropTown Saloon – Welcome! (@DropTownSaloon) February 15, 2023
Crypto Bulls Take Charge: Market on the Rise
The cryptocurrency industry has gained significant momentum on a global scale and is currently valued at over $1.03 trillion. The market saw a surge in cryptocurrency prices throughout the day, possibly fueled by the release of US Consumer Price Index (CPI) figures for January, which reported a lower-than-anticipated inflation rate.
Additionally, the industry’s regulatory concerns have eased, contributing to the growing interest in cryptocurrencies. As institutional investors and major corporations continue to adopt digital assets, the future of the cryptocurrency industry looks promising.
Market after CPI today:
— Sjuul | AltCryptoGems (@AltCryptoGems) February 14, 2023
In addition to these factors, the latest advancements in Bitcoin acceptance have also played a significant role in driving the cryptocurrency industry forward.
How the CPI Figures are Impacting the Fed’s Interest Rate Path
In January, the United States consumer price index (CPI) increased by 0.5%, mainly due to the rise in food and rent prices. On a yearly basis, prices increased by 6.4%, which was lower than the 6.5% recorded in December but still higher than the 6.2% predicted by economists.
Despite the slight slowdown in the rate of increase, the rising inflation remains a concern for many and could have significant implications for the broader economy if it continues to rise unchecked.
US CPI data just came out
Inflation sits at 6,4% and has now been falling for 7 months straight!
FED will probably do the last rate hike in March and announce a pause – this will be huge for stock markets and crypto.
Buy the dip at 20k &
HODL your bags pic.twitter.com/LEkV4C8Jlk— Trismegistus (@Trismegistus963) February 14, 2023
This data has allowed investors to maintain their belief that interest rates in the US may need to increase more than they had previously anticipated. It indicates that inflation is more persistent than previously believed, which strengthens the case for additional rate hikes by the Federal Reserve, particularly in light of the strong NFP gains and the uptick in the ISM non-manufacturing PMI.
As a result, the potential for further rate hikes is seen as a significant factor that could limit further gains in the cryptocurrency market, including Bitcoin.
Bitcoin Price Prediction: Insights from ‘Rich Dad Poor Dad’ Author
Robert Kiyosaki, the author of the popular book “Rich Dad Poor Dad,” has suggested that investors closely monitor the recent wave of layoffs at major corporations such as Google, Microsoft, Facebook, and Amazon. With 2.3 million Twitter followers, Kiyosaki also stated that he expects a significant market crash to begin this month, with all assets, including gold and cryptocurrencies, expected to decline in value initially.
Rich Dad Poor Dad said bitcoin will reach $500K. It is people’s money. pic.twitter.com/5N6KN31fCw
— Bitcoin Malaya (@bitcoinmalaya) February 14, 2023
Kiyosaki believes that the Federal Reserve will have no choice but to print money to prop up the markets in the aftermath of the crisis, resulting in increased national debt and a decline in the value of the currency. He has predicted that the prices of scarce assets such as gold, silver, and Bitcoin will soar by the beginning of 2025. So far, this news has had little impact on the price of Bitcoin.
IMF Warns El Salvador About Bitcoin Risks
The International Monetary Fund (IMF) has issued a call for greater transparency and issued a warning to El Salvador about the potential risks associated with its exposure to the Bitcoin market. In 2021, El Salvador became the first country to adopt Bitcoin as legal tender, and the government subsequently engaged in a Bitcoin purchasing spree.
IMF wants El Salvador to reconsider Bitcoin exposure: Community reaction
One community member interpreted the IMF’s move as a way to “scare other countries away” from adopting Bitcoin as a legal tender.#Bitcoin #Altcoin pic.twitter.com/9Q2GbAGsR6
— Crypto Bernard Wong (@Wong_insight) February 15, 2023
However, the amount of Bitcoin purchased by the government has not been disclosed to the public. During a visit to the country, the IMF advised El Salvador to take measures to reduce the risks associated with its exposure to cryptocurrencies.
Crypto Expert PlanB Forecasts Bitcoin to Reach $100,000-$1,000,000 by 2025
Renowned Twitter Bitcoin expert PlanB has made a bullish price prediction for Bitcoin, stating that it will exceed $100,000. He expects the crypto currency’s price to be somewhere between $100,000 and $1,000,000 by 2025.
PlanB temporarily halted his research and projections after conducting a Twitter poll to determine what the community thought would happen if the population was halved. The survey received 24,831 responses, with 58.8% of respondents believing that the price of Bitcoin would rise after the halving.
Bitcoin Price Prediction
As of today, the live Bitcoin price is $22,974, with a 24-hour trading volume of $25 billion. In the last 24 hours, Bitcoin has experienced a nearly 4% price increase. It currently holds the top spot on CoinMarketCap, with a live market capitalization of $443 billion.
Bitcoin’s circulating supply is 19,291,800 BTC coins, and the maximum supply is capped at 21,000,000 BTC coins. With its growing mainstream acceptance and rising institutional interest, Bitcoin’s popularity as a store of value and hedge against inflation continues to increase.
From a technical standpoint, Bitcoin is expected to encounter significant resistance around the $24,300 mark. A successful bullish breakout above this level could lead to a move towards the $25,250 level, with an additional breakout potentially exposing the BTC price to $26,850. On the downside, Bitcoin’s immediate support levels can be found at $22,375 and $21,300.
Upcoming Alternatives to Bitcoin
Investing in cryptocurrency presales has become popular in recent years. These initial coin offerings occur before the project’s public launch and can be lucrative, but require careful consideration.
Meta Masters Guild (MEMAG)
Meta Masters Guild (MEMAG) is an up-and-coming play-to-earn platform in the Web3 ecosystem that aims to become the largest mobile gaming guild. The project is centered around creating engaging games featuring playable NFTs that provide players with staking, trading, and rewards. With a strong focus on the intersection of gaming and blockchain technology, MEMAG is rapidly gaining traction and poised to make a significant impact in the crypto gaming space.
The MEMAG presale is now in its final stage and has raised over $4.2 million. Interested investors are urged to act quickly to take advantage of the remaining time before the price increase.
Fight Out (FGHT)
The Fight Out (FGHT) cryptocurrency project aims to reward users for engaging in various activities using advanced technology. By using the FGHT app, users can create a profile and access video-customized workout classes that are tailored to their individual fitness needs.
Currently, the FGHT presale is ongoing, and interested investors can purchase the tokens to subscribe to the Fight Club app. As more people subscribe to the app using FGHT, the token’s value is expected to rise. Currently priced at $0.0208, the token’s value is expected to increase as the presale concludes on March 31.
The token’s maximum expected price is $0.033 USDT. Don’t miss this opportunity to invest in the future of fitness technology.
Related
- Bitcoin Price Prediction – How Much Lower Might BTC Go Or is Regulation Backlash Selloff Over Done?
- Bitcoin Price Prediction – Can BTC Stay Rangebound Above $22k After Powell’s Pivot Rejection?
- Are Bitcoin and Ethereum Prices Set to Surge This Weekend Despite Payroll Beat?
Fight Out - Next 100x Move to Earn Crypto
- Backed by LBank Labs, Transak
- Earn Rewards for Working Out
- Level Up and Compete in the Metaverse
- Presale Live Now - $4M+ Raised
- Real-World Community, Gym Chain
This article was written for Business 2 Community by Arslan Butt.
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