"Does BTC break through $20,000 this week?"
After being in a recovery momentum for a long time, investors must have been excited when the mother of all cryptocurrencies Bitcoin (BTC) finally managed to see a surge of over 0.43% break through the price of $18,000 this morning.
The BTC price movement may rise again if the reading of the Consumer Price Index (CPI) of the United States (US) today shows a decrease in the inflation rate, where the Federal Reserve (Fed) will decide whether to raise or lower interest rates.
According to industry expert Jenny Harrington and the Chief Executive Officer (CEO) of Asset Management, Gilman Hill, they think the CPI data that will be reported soon will be as much as 6.6% compared to the CPI reading in November at 7.1%.
That streak, the crypto market and stocks that previously faced "bleeding" will mount again if the CPI report is 6.6%, Hill commented further.
For the record, BTC always makes significant moves during CPI readings, for example here the digital asset slipped over 10% after the CPI report in September showed a price change of 9.91%.
It is also worth noting that BTC can maintain its price since early 2023 following the Fed's intention to raise interest rates by a smaller 25 basis points next February.
Returning to the explanation, the CPI data will later be the cause of a digital asset to surge or plummet, because of that investors should be careful in the crypto market in order to reduce their respective trading risks.
