Bitcoin, Ethereum, Dogecoin See Marginal Gains Post CPI Data: Analyst Foresees 100x Growth For Crypto Even As Doubt Plagues The Market
Portfolio Pulse from Mehab Qureshi
Major cryptocurrencies saw marginal gains following the announcement of a 4% surge in the US CPI, better than the projected 4.1% and April's figure of 4.9%. Despite ongoing SEC lawsuits against Binance and Coinbase, investors appeared optimistic, and stocks soared on Tuesday. Crypto analyst Michael Van de Poppe predicts a market drop into the FOMC, prompting potential lows.
June 14, 2023 | 2:53 am
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POSITIVE IMPACT
Bitcoin saw a marginal gain of 0.14% following the announcement of a 4% surge in the US CPI. Despite ongoing SEC lawsuits against Binance and Coinbase, investors appeared optimistic.
The positive CPI data and investor optimism despite the SEC lawsuits against Binance and Coinbase suggest a short-term positive impact on Bitcoin's price. The marginal gain of 0.14% also supports this analysis.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Dogecoin saw a marginal gain of 0.63% following the announcement of a 4% surge in the US CPI. Despite ongoing SEC lawsuits against Binance and Coinbase, investors appeared optimistic.
The positive CPI data and investor optimism despite the SEC lawsuits against Binance and Coinbase suggest a short-term positive impact on Dogecoin's price. The marginal gain of 0.63% also supports this analysis.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Ethereum saw a marginal gain of 0.23% following the announcement of a 4% surge in the US CPI. Despite ongoing SEC lawsuits against Binance and Coinbase, investors appeared optimistic.
The positive CPI data and investor optimism despite the SEC lawsuits against Binance and Coinbase suggest a short-term positive impact on Ethereum's price. The marginal gain of 0.23% also supports this analysis.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100