Bitcoin, Ethereum, Dogecoin Slightly Up Ahead Of Inflation Data Release: Analyst Says 'Pretty Damn Clear' That ETH Could Rally Towards $2,500
Portfolio Pulse from Mehab Qureshi
Major cryptocurrencies including Bitcoin, Ethereum, and Dogecoin traded slightly positive on Tuesday evening ahead of Wednesday’s Consumer Price Index (CPI) release. The CPI data could determine whether the range-bound trading pattern continues. Bitcoin has seen an 84% increase in prices year to date, with much of the gains consolidated during the winter months. The global crypto market capitalization stood at $1.19 trillion, an increase of 0.19% over the last day. Analysts suggest that Ethereum could potentially rally towards $2,500.
July 12, 2023 | 3:32 am
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POSITIVE IMPACT
Bitcoin traded slightly positive ahead of the CPI data release. The cryptocurrency has seen an 84% increase in prices year to date.
The upcoming CPI data could potentially impact the trading pattern of Bitcoin. The cryptocurrency has seen significant gains this year, which could attract more investors.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Dogecoin traded slightly positive ahead of the CPI data release.
The upcoming CPI data could potentially impact the trading pattern of Dogecoin. The cryptocurrency has shown slight gains, which could attract more investors.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 60
POSITIVE IMPACT
Ethereum traded slightly positive ahead of the CPI data release. Analysts suggest that the cryptocurrency could potentially rally towards $2,500.
The upcoming CPI data could potentially impact the trading pattern of Ethereum. Analysts suggest that the cryptocurrency could potentially rally towards $2,500, which could attract more investors.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80