The crypto market is making another bullshit, with Bitcoin (BTC) that recycles the price of $ 114,000. According to Coytecko, the original crypto has collected 2.5% over the past 24 hours2.2% over the past week and 2.4% in the 14-day diagrams. Despite the rise, BTC’s price is still down by 3.9% compared to the previous month. Bitcoin’s (BTC) latest upward momentum has opened up the possibility that it will hit a new All-Time High very soon.
Will Bitcoin meet a new highest time in September?
Bitcoin (BTC) is currently down by about 8% from its top of $ 124,128, which it reached on August 14 this year. BTC’s latest rally could see the biggest crypto by marketing the land of $ 124,000 again.
According to CoinCex -analyst, Bitcoin (BTC) will continue to rally In the coming days. The platform expects Bitcoin to meet a new highest time of $ 127,929 on September 18. BTC’s price will rally with 11.9% from current price levels if it hits $ 127 929 goal. Coincex expects BTC to meet a small correction after climbing to $ 127,929. However, the platform expects BTC to break the $ 130,000 mark in December this year.
Why is the market up today?
The latest market rally is probably due Positive inflation data for the month of August. US inflation cooled at the wholesale level last month and came in at 2.6%. The move may have elevated investors’ feeling.
Another factor that may have helped Bitcoin (BTC) to regain the price level of $ 114,000 is the high chances of an interest rate reduction this month. The cooling inflation numbers may have further strengthened the chance at a speed from the Federal Reserve.
Also read: Crypto pumps that fed cut odds double – bitcoin traders eye 50bps
Both developments can drive Bitcoin (BTC) to a new highest time. Other crypto assets can also follow. The stock market also wins, which gives investors more confidence in US economic growth.
