Bitcoin, Ethereum, Dogecoin Show Resilience Amid CPI Data: Analyst Says King Crypto Could Skyrocket 130%, To Reach Levels Above $70k This Year
Portfolio Pulse from Mehab Qureshi
Major cryptocurrencies showed resilience amid the release of Consumer Price Index (CPI) data. Bitcoin, Ethereum, and Dogecoin experienced mixed trading, with Bitcoin and Ethereum slightly down and Dogecoin slightly up. The global crypto market capitalization stands at $1.17 trillion, a 0.48% decrease in the last day. Analysts predict that Bitcoin could reach over $70,000 this year, despite its struggle to maintain a consistent price above $30,000 in recent months.
August 11, 2023 | 2:38 am
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NEUTRAL IMPACT
Ethereum showed resilience amid CPI data, experiencing a slight decrease in price.
Ethereum's resilience amid the CPI data indicates its potential to withstand economic fluctuations. However, the slight decrease in price suggests a neutral short-term impact.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 80
POSITIVE IMPACT
Bitcoin showed resilience amid CPI data, but has struggled to maintain a consistent price above $30,000. Analysts predict it could reach over $70,000 this year.
The resilience of Bitcoin amid the CPI data shows its potential to withstand economic fluctuations. The prediction of it reaching over $70,000 this year indicates a positive outlook for its price, despite recent struggles.
CONFIDENCE 70
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Dogecoin showed resilience amid CPI data, experiencing a slight increase in price.
Dogecoin's resilience amid the CPI data and the slight increase in price indicates a positive short-term impact.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 80