Aaron Arnold of Altcoin Daily in his YouTube video bitcoin He underlined the three main factors that will affect the price. The price of BTC was valued at $24,704 at the time of the news, creating excitement among investors and traders.
Three Factors Affecting Bitcoin Price
Arnold said that February Consumer Price Index (CPI) data, Sam Bankman Fried’s release of bond signer identities, and Kevin O’Leary’s discussions on the timing of actual crypto legislation in the US will have an impact on the price of Bitcoin as the leading cryptocurrency skyrockets in value. predicts.
Generally, when the CPI rises, it means that the cost of living increases and the purchasing power of a currency decreases. This can lead to a decrease in demand for the currency as people look for alternative ways to store value. Therefore, when the CPI rises, some investors may turn to Bitcoin as a way to protect their wealth from the effects of inflation.
Koinfinans.com As we reported, SBF’s guarantors were identified as Larry Kramer, president of the William and Flora Hewlett Foundation and dean emeritus of Stanford Law School, and Andreas Paepcke, a senior research scientist at Stanford University. Arnold says this could also affect the price of Bitcoin.
on the other hand Kevin O’LearyThe statements made by Yahoo Finance earlier today also drew attention. As the United States is the world’s largest crypto hub, its industry regulations have a profound impact on the value of cryptocurrencies. However, crypto remains unregulated and the SEC still actively regulates the industry through enforcement.
O’Leary, who stated that Arnold is talking directly to regulators, believes that a hasty crypto regulatory bill could soon be submitted to Congress, but that it could do more harm than good to the crypto market.