In a tweet earlier yesterday, Dan Gambardello, CEO of Crypto Capital Venture and presenter of the massively popular YouTube channel “Crypto Capital Venture,” included a link to his newest video where he said that the CPI inflation data that will be released in two days will determine whether or not Bitcoin and other cryptocurrencies will see a bullish break this week.
The post had the caption “crypto is running out of time. Prepare now”. The volatility of Bitcoin and the crypto market has been unusually low in previous weeks, but Gambardello notes that their connection with stock prices has not changed and continues to be favorable. This is amid the concern that has been plaguing investors.
Following the dissemination of the data, Gambardello does not anticipate a surge in the price of Bitcoin that is optimistic. In light of the events of 2018 and 2015, he is of the view that the crypto market’s monarch is now perched dangerously close to the precipice. He went on to say that there is a possibility of a capitulation taking place.
However, he did add that investors could just wind up receiving that positive break that they have been anticipating in the near future.
In a related development, a different cryptocurrency analyst who goes by the name Michael van de Poppe has claimed that it is quite probable that markets will not shift until all of the economic data is released.
Even yet, Van de Poppe stressed once again that the Bitcoin market shift, whenever it may happen, should be quite substantial.
The post Analyst: With CPI Data Coming in, Crypto Is ‘Running Out Of Time’ appeared first on Coin Edition.
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Source: Cryptocurrency - investing.com
