In this week’s market report, Cointelegraph experts discuss whether the new Consumer Price Index (CPI) and US inflation data will be bullish or bearish for Bitcoin (BTC).
To begin with, we analyzed the latest news in the markets this week:
On the topic: Biggest increase in mining difficulty in 14 months – 5 things to know about bitcoin this week
Macro Feeds Rise As Basic Bitcoin Network Defies Bears – Which Side Will Win When It Comes To BTC Price Action? The price of bitcoin has been relatively quiet and weak in recent days, but there are some indications that there is a big move up or down. We’re going to look at some of the reasons why Bitcoin is about to make a big move. We also discuss whether the time has finally come for the price of bitcoin to fall.
Related: Bitcoin price set for ‘very big move’ as CPI sparks volatility
One analyst claims that BTC price action may remain calm until October 12 as the historical volatility index gives a rare warning signal. With the week set to be a big boost for a potential volatility breakout, Michael van de Poppe, founder and CEO of Trading Eight, suggested traders could get another 48-hour period. Take a look at the insights he has to offer regarding the current market situation.
Our experts share these groundbreaking stories and more, so be sure to tune in to stay up-to-date with the world of cryptocurrencies.
Next up is a segment called “Quick Crypto Tips” which aims to give newcomers to the crypto industry quick and easy tips to get the most out of their experience. Tip of the week: what are the support and resistance levels?
Finally, we have insights from Cointelegraph Markets Pro, a platform for cryptocurrency traders who want to stay one step ahead of the market. Our analysts use Cointelegraph Markets Pro to identify two cryptocurrencies this week: Pangolin PNG and Ellipsis EPS.
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