Bitcoin Price and Ethereum Prediction; What's Next After BTC and ETH Skyrocket To Around 25%?
Bitcoin (BTC), the world's most well-known and widely used digital currency, extended its long upward rally to a high of $21,000, representing a 12% increase in 24 hours. Meanwhile, the price of Ethereum (ETH), the second-largest cryptocurrency, has risen above $1,550.
This week was a huge success for the cryptocurrency market, with almost all major tokens seeing significant price increases, with BTC and ETH both skyrocketing nearly 25%. The prices of other cryptocurrencies such as Dogecoin (DOGE), Litecoin (LTC), and Ripple (XRP) are all green.
However, the thriving cryptocurrency market, falling inflation, and low-interest rates may be to blame for the price increases in Bitcoin.
According to Consumer Price Index (CPI) data, Inflation is declining, and was even negative month over month in December 2022. As a result, the market currently believes that the Federal Reserve will stop raising interest rates. As a result of this knowledge, interest rates have fallen and stock prices have risen.
Binance Pool invites Bitcoin miners and digital infrastructure providers to join its Cloud Mining Partner Program. This has been interpreted positively for bitcoin's price. Furthermore, the upcoming "Shanghai Hard Fork" for Ethereum, which will allow tokens that have been blocked and unreachable for months to be unlocked, has been viewed positively.
The global cryptocurrency market has been steadily growing and gaining momentum throughout the day, allowing it to break through the $1 trillion mark for the first time in weeks.
As a result, cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), and many other coins have increased in value.
In December 2022, the Consumer Price Index (CPI) data showed that inflation was a negative month over
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