The post Positive forecasts for the price of Bitcoin and the Fed appeared on BitcoinEthereumNews.com.

Yesterday something happened on the Bitcoin market that allows for positive predictions about its price for the coming weeks. The forecast has also turned positive regarding the Fed’s monetary policy. The issue of inflation Indeed, yesterday the data on inflation in the USA for April were released. The results turned out to be decidedly positive, although in line with the forecasts.  The general annual inflation rate has decreased from 3.5% to 3.4%, after having increased for two months. However, the current level is still significantly higher than the 3% of June 2023.  But what interests financial markets the most is the annual core inflation rate, that is without food and energy products, because it turns out to be much less volatile and much more representative of the general trend.  The fact is that the core inflation rate has returned to decrease.  This, unlike the general one, has never risen since May of last year, even though its descent from 5.3% a year ago marked three stops. The first in November 2023, when it stopped at 4% from the previous month, and the second in January 2024, when it stopped at 3.9% from the previous month.  Even in March it had stopped at 3.8% in February, so for a good six consecutive months it had only dropped by 0.3 percentage points at a rate of 0.1 percentage points every two months.  Yesterday this trend stopped, because the decrease was only 0.2 percentage points in one month. Basically, from November 2023 to March 2024, it had decreased by 0.2 percentage points in 4 months, while in April it took only one month to decrease by another 0.2 percentage points.  The Fed’s monetary policy and forecasts on the price of Bitcoin From November onwards, the chances that the Fed could start cutting interest…

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Filed under: News - @ May 16, 2024 11:24 am