Bitcoin Price Prediction as BTC Pumps 20% in 7 Days – Time to Buy Bitcoin?
In a week marked by a 20% surge in Bitcoin’s price, BTC currently trades around $52,000, demonstrating modest growth and maintaining its position as the market leader with a valuation exceeding $1 trillion.
This period of slight growth amidst a volume of $37.66 billion underscores the cautious optimism permeating the crypto market, as investors and enthusiasts closely watch Bitcoin’s supply inch towards its maximal cap.
The recent slew of US economic data offers a nuanced view of the market, with significant implications for Bitcoin’s value. On one hand, the dip in Core Retail Sales and Retail Sales by 0.6% and 0.8%, respectively, suggests a cautious consumer environment, potentially dampening the bullish sentiment around risk assets like Bitcoin.
⚠️BREAKING:
*U.S RETAIL SALES -0.8% M/M, EXP. -0.2%
*U.S. RETAIL SALES CORE -0.6% M/M, EXP. +0.2%
*U.S JOBLESS CLAIMS RISE 212,000; EST. 219,000
*U.S. PHILLY FED BUSINESS INDEX +5.2, EXP. -8.0
*U.S. NY FED BUSINESS INDEX -2.4, EXP. -13.7$SPY
