Bitcoin, Ethereum, Dogecoin In Red Post US Retail Sales Data Release: Analyst Predicts This Popular Meme Coin Could Rally 157% Mirroring XRP Gains
Portfolio Pulse from Mehab Qureshi
Major cryptocurrencies including Bitcoin, Ethereum, and Dogecoin experienced a decline following the release of positive US retail sales data. The retail sales report for June showed a 0.2% increase, lower than the forecasted 0.5%. However, the retail sales 'control group' showed a 0.6% increase, surpassing expectations. Analysts predict that Dogecoin could potentially rally up to 157% mirroring XRP gains. The global crypto market capitalization stood at $1.21 trillion, a decrease of 0.34% over the last day.
July 19, 2023 | 2:54 am
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NEGATIVE IMPACT
Bitcoin experienced a decline following the release of positive US retail sales data. Analysts predict a further dip towards the $29,500 level.
The positive US retail sales data indicates a strong economy, which could lead to a decrease in demand for Bitcoin as a hedge against economic instability. This could potentially lead to a further decline in Bitcoin's price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Ethereum experienced a decline following the release of positive US retail sales data.
The positive US retail sales data indicates a strong economy, which could lead to a decrease in demand for Ethereum as a hedge against economic instability. This could potentially lead to a decline in Ethereum's price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Dogecoin experienced a decline following the release of positive US retail sales data. However, analysts predict that Dogecoin could potentially rally up to 157% mirroring XRP gains.
Despite the decline following the release of positive US retail sales data, analysts predict that Dogecoin could potentially rally up to 157% mirroring XRP gains. This prediction could potentially lead to an increase in Dogecoin's price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100