As Bitcoin pauses its upward trend, it awaits US Consumer Price Index data. Experts predict a slight correction in the short term but highlight potential future growth.
Peter Brandt's Bitcoin Forecast
Renowned investor Peter Brandt predicted that Bitcoin could reach new heights in the coming days. He shared a chart suggesting two scenarios where the cryptocurrency might reach levels of $134,000 or $327,000. Despite Brandt’s optimistic forecast, other analysts warn of possible volatility.
Current Status of the Bitcoin Market
Currently, Bitcoin has fallen over 2% to $87,540, with trading volume decreasing by 14% to $119 billion. It peaked at $89,915 during the day, recording an all-time high of $89,956. Bitcoin Futures Open Interest has decreased by 3% in the last 24 hours, indicating a cautious stance among traders ahead of the economic data release in the US.
Regulatory Prospects for Bitcoin
Regulatory developments in the US also play a significant role in Bitcoin’s long-term goals. The establishment of a clear regulatory framework and crypto-friendly measures could support positive market expectations.
In conclusion, short-term Bitcoin market movements may be influenced by US inflation data, but long-term prospects depend on regulatory changes. Bitcoin remains a key subject for analysts and investors.
