The Bitcoin price is trading quite stable around $17K this weekend. But this quiet period may soon come to an end. All eyes are on the inflation figures in the United States that will be announced on December 13.
The monthly results of the Consumer Price Index (CPI) are the focus this week. Expectations are that the CPI will show that US inflation is declining. That’s good news for high-risk assets, including the crypto market. This will most likely lead to a less aggressive policy from the Federal Reserve.
It is therefore not surprising that various analysts predict that the figures could cause a major price increase in the coming week.
These factors can cause a large price increase
James Choi, a macro economist and analyst, lists factors that will cause the prices of risky assets to rise.
The spike in inflation in the US, a weaker USD and the reopening of China create fantastic investment opportunities.
—James Choi
Choi thus points out that not only the fall in inflation in America is a positive sign for the global financial markets. The Covid easing in China are also very positive signs, says the economist. Slowly but surely we seem to be moving back towards a controllable global economy in which investors have confidence. And that is, right now, so important for the crypto market.