Investors and traders following Bitcoin are eagerly awaiting the impact of US inflation data on the cryptocurrency’s price. Since last Friday, Bitcoin has rebounded nearly 30% from its recent lows, setting a new 2023 record above $26,000. The surge in value isn’t limited to Bitcoin; Ethereum has also seen a rise in value, trading above the $1,600 mark, which has resulted in most cryptocurrencies increasing in value. US authorities’ readiness to support banks that accept cryptocurrency instils confidence in investors, leading to a surge in the demand of cryptocurrencies. This article examines the latest Bitcoin price predictions and trends as investors navigate the impact of inflation on the cryptocurrency market.
