Cryptocurrency analyst Nicholas Merten Bitcoin (BTC) shared important dates that will affect the price. According to the analyst, the macroeconomic developments that will take place on these two dates will change the course.
Sharing videos on the YouTube channel DataDash Nicholas MertenHe said he expected the CPI report and the Federal Reserve meeting. These two important developments will be completed this week.
“Why don’t people buy at the bottom? I think this is because of the CPI report that will be released next week and the inflation figures at the FOMC meeting.”
The CPI report is expected to be released today. The FOMC meeting will take place on December 14. Merten, cryptocurrency He drew attention to the importance of the CPI report, which directly affects the market. According to Merten, higher-than-expected inflation data are likely to come.
Koinfinans.com As we have announced, the expectations are that the FED will increase interest rates by 50 basis points. As a matter of fact, according to analyst Merten, if inflation is higher, the interest rate may also increase.
“Inflation expectations are around 2% annually. If they stay too far from this target, an increase of 75 basis points seems possible. They will continue the hawkish stance to rein in inflation immediately.”
The analyst thinks that even if the Fed makes a lower-than-expected rate hike, the markets will remain under pressure.
“Do all the developments mean that the market is immediately recovered? Of course no. Does a thousand raki mean we started the bull run? No.
If we examine the previous bear markets, you can see that even if the FED makes a comeback, there is a decline in the stocks. Because people react with delay to such feedback. You can’t get everything done in one day.”
You can follow the current price action here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.