David

Bitcoin

According to CoinMarketCap data, the Bitcoin price has increased by approximately 4.3% in the last 24 hours.
Despite this latest rise, Bitcoin is still around 10% below its all-time high of $73,000 recorded in mid-March. Neil Roarty, an analyst at Stocklytics, suggests that strong economic indicators from the US may be affecting Bitcoin's performance.
Roarty also notes that the Fed is not under immediate pressure to start a rate-cutting cycle this year. He thinks such rate cuts may be necessary to steer Bitcoin's price towards its projected target of $100,000 in 2024.
Related News: <a href="https://en.bitcoinsistemi.com/watch-out-there-are-many-economic-developments-and-altcoin-events-in-the-new-week-here-is-the-day-by-day-hour-by-hour-list-4/" target="_blank" rel="noopener noreferrer nofollow">Watch Out: There Are Many Economic Developments and Altcoin Events in the New Week! Here is the Day by Day, Hour by Hour List</a>
In addition, Roarty said the following about the possible effects of the US economic data to be announced tomorrow on BTC:
<blockquote>
 “All attention now turns to the highly anticipated March employment report, which the Bureau of Labor Statistics will release on Friday. “Forecasters are predicting another strong month, and if that is indeed the case, Bitcoin bulls may have to settle for a period of consolidation.”
</blockquote>
Coinbase analysts David Duong and David Han also emphasized in an email that Bitcoin's performance will be affected by US economic data. They stated that there was an unexpected increase in US manufacturing activities, which pushed the dollar to levels last seen in November.
*This is not investment advice.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/how-will-bitcoin-react-to-critical-data-from-the-us-tomorrow-analysts-commented/" rel="noopener noreferrer nofollow">How Will Bitcoin React to Critical Data from the US Tomorrow? Analysts Commented</a>

How Will Bitcoin React to Critical Data from the US Tomorrow? Analysts Commented

Bitcoin Sistemi EN

Other articles published on Apr 4, 2024

F2Hash Unveils AI-Driven, Solar-Powered Bitcoin Mining Innovation in Cyprus

Top Airdrop Altcoin of the Last Days Accidentally Distributed Token to Its Hacker: Price Plummete...

Bitcoin and Ethereum investors flock to new entrant Fezoo

Four Senior Fed Officials Make Important Statements Simultaneously – Bitcoin is also on the Table...

Google Takes On Crypto Scammers With Legal Action

Revolutionary Modder Creates Handheld PlayStation from Rare PS1 Controller

Join our free newsletter for daily crypto updates!