DOGECOIN : What Is CPI And Golden Cross?? – All You Need To Know
We actually moved further into fear. A lot of it had to do with that fake WalMart news, but this is good. We had a very big bounce in the market, which was followed by a significant correction.
The Consumer Price Index (CPI) came out today and it’s looking good for crypto
The Consumer Price Index, which is the index which measures inflation, came out today and it’s looking very good for cryptos. Right now, Bitcoin is taking off. Leading the market headed back up to $50000, which means Dogecoin price will probably most likely soon be about 30 cents. So there still is inflation because the government is printing money. But the inflation reading was much less much lower than what everyone was expecting, and this is very good.
Now, a lot of people would jump into cryptocurrencies. They invest in the cryptocurrency because it is a hedge against inflation. But sometimes even when the inflation is high, which is also a very good reason to jump into cryptocurrencies, it can actually bring the stock market down in financial markets because the CPI or the inflation rewards was less than expected. The whole stock market is starting to shoot up, is starting to bring excitement back into cryptocurrencies.
Things get very bullish. October, November, December. These are the most bullish months for cryptocurrencies and we are nearly at October. So September, if it continues to be bearish or if it continues to trade sideways, this gives us an opportunity to buy and this will be most likely the last opportunity in the next week or so.
‘Golden Cross’ is going to be a symbol for a bottom of the crypto market
Bitcoin technicals incoming ‘Golden Cross’ presents potential bottom for BTC price. So the Bitcoin chart is forming this Golden Cross. This Golden Cross, generally what this means is when there is a Golden Cross, after there’s a huge bull run. We’ve seen this many times before. So what these technical experts are saying, especially with Bitcoin, which is the whole crypto market Dogecoin moves on Bitcoin, Golden Cross is going to be a symbol for a bottom of the crypto market. And if we know that this is the bottom of the market, that means that you can only go up from the bottom when you hit rock bottom.
Will Bitcoin break out due to the golden cross?
What it means is that there is a potential huge breakout to be taking place here very soon. And we are going to be taking a look at technical analysis in just a minute to prove this point even further. And are the technical strong enough to bring Bitcoin to $100000 this year? Along with a bunch of experts in finance and the stock market, they believe that Bitcoin is going to hit way over $100000 by the end of the year.
And according to the stock to Flow model, which we’ve talked about on this channel, it said the lowest price for Bitcoin is going to be around 115K dollars, the lowest possible price for Bitcoin going to be $150000, which is about a 2.5x or so almost 3 weeks from now where Bitcoin is at and if Bitcoin 3x is by the end of the year.
And we’re starting to get some very bullish green candles. So this could be a potential trend reversal in the market that we’ve been looking for, which means that we will start to see green for Dogecoin and cryptocurrencies. So things are starting to uptick. They’re starting to heal, they’re starting to recover.