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10x Research: It is anticipated that Bitcoin will reach a historic high next week

10x Research: It is anticipated that Bitcoin will reach a historic high next week

Bitget2024/06/05 03:44

According to the latest article by 10x Research, the U.S. economy is slowing down, which is a good thing for now. The GDP is just slightly above 1%, and the ISM manufacturing index has been in contraction for several months, leading to continued weakness in employment and negatively affecting consumer spending. Another key and forward-looking employment indicator "job vacancies" has significantly slowed down, all of which will lead to a decrease in inflation. This Friday we will get more employment data; weaker surprises may lead to interest rate cuts, and next week we will receive CPI inflation reports. If CPI grows at 3.3% or lower year-on-year, it could push Bitcoin to an all-time high. The closing price triggered by a drop in U.S employment or inflation will undoubtedly set a new record between this Friday and next Wednesday. Therefore, we expect that by next weekend Bitcoin will reach an all-time high.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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