Bitcoin course forecast and effects of the inflation data: Investors excited about upcoming economic data and interest rate increase

Bitcoin course forecast and effects of the inflation data: Investors excited about upcoming economic data and interest rate increase

The Bitcoin course currently remains stable at around $ 30,500 and today recorded a slight increase of almost 0.80%. The market is eagerly observing the upcoming inflation data for June, as it could have important effects on the Bitcoin course together with the prospects on interest rate increases by the US Federal Reserve.

Experts predict that US inflation has been falling to its lowest level for over two years, but persistent price increases in "Core" products and services suggest that the Federal Reserve will continue its interest rate increases. A tighter monetary policy could cause investors to avoid more risky systems such as cryptocurrencies. On the other hand, lower inflation rates could lead to increased crypto investment, since these are often seen as hedge against inflation.

ether, finance engineer at BYBIT, believes that the market is looking for signs of growth in the Bitcoin price, especially if the interest rate increases are slower or are completely discontinued. However, a complete bull market could only occur in 2024 and requires a stop of the interest rate increases, a significant correction in Bitcoin and a clarification of regulatory uncertainties.

The latest data on Bitcoin mining show an increase in the Hashrates, which indicates increasing activity and an increased interest in the Bitcoin mining. The increased computing power contributes to the safety and stability of the network and strengthens the trust of investors. A higher hashrate can also indicate an increased profitability of the mining, which in turn attracts more miners and further strengthens the network. The United States leads Bitcoin mining, followed by countries like Kazakhstan and Russia.

The current Bitcoin course shows a remarkable resistance and hovers around the $ 30,770 mark. The resistance at $ 31,000 could signal a purchase opportunity, while support could be found at $ 30,300. A breakthrough over the resistance could drive the price of Bitcoin in the direction of $ 32,500 or higher, while a decline under the support could lead to a further decline.

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