Bitcoin Price Prediction as BTC jumps 7.5% Reversing Losses – More Gains to Come?
The crypto markets saw surprise volatility on Thursday and Friday despite the US Consumer Price Index coming in worse than expected. While CPI data saw an immediate sell-off after coming in at 8.2%, traders and investors took advantage of the dip and then continued to buy. The overall crypto market cap has gained more than 5% in the last 24hrs while a number of large market cap coins also made impressive gains. Market leader Bitcoin (BTC) was a prime example of how the market suddenly sparked into life. After the CPI announcement, there was an immediate sell-off, with Bitcoin dropping from $19k to a 24hr low of $18,319.82. But within 12hrs, BTC had jumped back up to $19,835.17 – an 8.2% gain on the low &ndash ; with volume surging by 76% on the previous day. A price retraction has since followed, but Bitcoin is now trading at $19,640.67, nearly 5% up in 24hrs. Bitcoin Price Prediction: Short-Term Gain, Medium-Term Pain? As CryptoNews analyzed in further d...