COINTURK NEWSCOINTURK NEWSCOINTURK NEWS
  • Real-Time News Feed
  • Bitcoin
  • Altcoin
  • Ethereum
  • Technology News
  • Advertise
  • Contact
  • TURTURTUR
  • ESESES
Search
© 2024 COINTURK NEWS. All Rights Reserved.
Reading: Analysts Predict Critical Day for Cryptocurrencies
Share
Languages
  • TürkçeTürkçe
  • EspañolEspañol
Font ResizerAa
COINTURK NEWSCOINTURK NEWS
Font ResizerAa
Search
  • Real-Time News Feed
  • Bitcoin
  • Altcoin
  • Ethereum
  • Technology News
  • Advertise
  • Contact
  • TURTURTUR
  • ESESES
Follow US
© 2025 BLOCKCHAIN Information Technologies. >> COINTURK NEWS
Powered by LK SOFTWARE
COINTURK NEWS > Cryptocurrency News > Analysts Predict Critical Day for Cryptocurrencies
Cryptocurrency News

Analysts Predict Critical Day for Cryptocurrencies

In Brief

  • Bitcoin price is currently at $61,500, and altcoins have a poor outlook.

  • Tomorrow's US inflation data could significantly impact risk markets.

  • Raoul Pal predicts a rise in crypto markets based on global liquidity cycles.

COINTURK NEWS
COINTURK NEWS 1 year ago
Share
SHARE

Bitcoin price is currently at $61,500, and the outlook for altcoins is poor. We see the situation of risk-averse investors in volume data. The concerning factor is the potential for macroeconomic negativity to suppress cryptocurrencies for more than a few months. So, why is tomorrow a big day?

Contents
A Big Day for CryptocurrenciesFamous Economist’s Crypto Predictions

A Big Day for Cryptocurrencies

Tomorrow, before the US stock market opens, a critical data point that could shake risk markets will be released. Of course, I am talking about the US April inflation data. This data came in terrible in the first quarter, and for months, Fed members advised against being pessimistic until more data was seen to determine if the roadmap needed updating.

On May 14, the US Core Producer Inflation data came in at 0.5% monthly. This figure was expected to be around 0.2% under normal conditions. The lack of cooling in the PPI data brings concerns that we might see a bad surprise in the CPI data as well. Today’s price lingering at $61,500 clearly explains this concern.

If tomorrow’s US inflation data comes in above the 3.4% expectation, things could get complicated. The monthly expectation is 0.4%, and the target for core inflation is 3.6% (previously 3.8%). Investors will focus on the announced figures of these data. We will share this data as a last-minute update. If the data comes in above expectations, we could see sharp declines depending on how high it is. Although Powell’s statements today did not mention additional rate hikes “for now,” they focused on the possibility of “delaying rate cuts.” If this “tight monetary policy” narrative is voiced more loudly and the environment necessitating it remains strong, risk markets could see bad days.

Famous Economist’s Crypto Predictions

If we are talking about macroeconomics, we can also look at the latest comment made by Raoul Pal. Can we trust his macroeconomic skills since he is extremely positive about crypto? Maybe not. So, what does Pal say?

According to him, the crypto markets will soon rise. He cites the global liquidity cycle that has continued since 2008 as the reason. If his predictions come true, we will soon see days when some assets like Solana and Ethereum outperform Bitcoin, and meme coins reach absurd prices again. However, with the possibility of the first rate cut in September weakening, how realistic this prediction will be remains doubtful for now. But crypto is always full of surprises.

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

You Might Also Like

ATXG Targets Bold Leap into Crypto with Massive Bitcoin Acquisition

FTX Distributes Billions, Reanimating the Cryptocurrency Market

Fed Faces New Challenges as Economic Signals Conflict

Traditional Banks Drive Stablecoin Surge in Crypto Markets

Discover Bitcoin’s Journey to Its Next Big Leap!

COINTURK NEWS 14 May, 2024 - 10:44 pm 14 May, 2024 - 10:44 pm
Share This Article
Facebook Twitter
Share
Previous Article Analyst Predicts Potential Rally for Shiba Inu
Next Article Peter Brandt Warns Investors About XRP’s Potential Decline
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Stay Connected

8.1k Like
21.1k Follow
1.1k Follow

Latest News

ATXG Targets Bold Leap into Crypto with Massive Bitcoin Acquisition
Cryptocurrency News
Ripple Faces Legal Hurdles as SEC Battle Continues
Ripple (XRP)
Bitcoin Surges to Power Past Gold with Institutional Boost
Bitcoin (BTC)
Ken Griffin Warns on Trump’s Policies Impacting Inflation and Employment
Economy
//

COINTURK was launched in March 2014 by a group of technology enthusiasts who believe that Bitcoin will be as important as the internet in the world of the future thanks to the amazing technology underlying it.

CRYPTOCURRENCY LIVE PRICES

  • Bitcoin (BTC) Live Price
  • Ethereum (ETH) Live Price
  • Ripple (XRP) Live Price
  • Solana (SOL) Live Price
  • Dogecoin (DOGE) Live Price
  • Cardano (ADA) Live Price
  • Chainlink (LINK) Live Price

OUR PARTNERS

  • COINMARKETCAP
  • COINGECKO
  • BITCOINHABER
  • BH NEWS
  • 21MILYON
  • NEWSLINKER

OUR COMPANY

  • About Us
  • Cookie Policy
  • Advertising
  • Contact
COINTURK NEWSCOINTURK NEWS
Follow US
© 2025 BLOCKCHAIN Information Technologies. >> COINTURK NEWS
Powered by LK SOFTWARE
Welcome Back!

Sign in to your account

Lost your password?