Just after the US inflation data was released below expectations, the leading cryptocurrency Bitcoin started to rise and continues to be priced with a 6% increase in the last 24 hours. Bitcoin is not the only crypto asset on the rise, but the fact that inflation data came below expectations caused most assets in the crypto money market to rise. When we look at the data now, we see that no coins in the top 10 have dropped. So, is the expected rise in Bitcoin coming?
Is It Expected In Bitcoin?
After the inflation data were announced, Bitcoin, which started to rise, took its place above the resistance of $ 24 thousand 250 and continues its price activity around $ 24 thousand 500 instantly. According to experts, it is expected that there will be a significant volume inflow to Bitcoin during the day. If these entries occur, Bitcoin may target the $30k resistance. Analysts say they are optimistic about the Bitcoin price.
Analysts Speak Optimistic
Many analysts believe that the Bitcoin rally could encourage a major altcoin bull run going forward. “With inflation peaking and the dollar falling, Bitcoin and altcoins could witness the biggest rally in recent months,” analyst Ran Neuner said in a statement on Bitcoin price. Another analyst, Park Davis, stated that the inflation figures will have a positive effect on the crypto market. According to the analyst, the decrease in inflationary pressure could give momentum to crypto prices. The popular analyst using the nickname TechDev predicts that this upward trend will continue in 2023. According to the analyst, the Bitcoin price chart hints at the 2023 rally. Another name that expresses his views on the Bitcoin price is American banking giant Morgan Stanley. According to Morgan Stanley analysts, there are factors that point to a bull run for Bitcoin. According to Morgan Stanley analysts, the markets still remain healthy despite the major corrections.
Europe’s Largest Crypto Event
Soon, Turkey will host Europe’s largest cryptocurrency event. At the event, which will take place in Istanbul on August 20-21, the names that come to mind when it comes to blockchain and economy in Turkey will take place as speakers. This free event will take place at Zorlu Performing Arts Center.
