BTC will continue to rise next week
Bitcoin (BTC) is up over 120% since the beginning of the year, showing that sentiment towards the crypto asset has improved significantly. Due to the large volume of purchases, the number of wallet addresses holding more than $1 million in Bitcoin this year has jumped from 23,795 on January 1 to 81,925 now, according to data from BitInfoCharts.
After a significant price rally, Bitcoin could face headwinds in the short term as investors digest macroeconomic data and events taking place this week. The Consumer Price Index will be released on November 14th, followed by the Producer Price Index on November 15th, which could lead to short-term fluctuations.
Short-term retracements are healthy for long-term market trends.
After a significant price rally, Bitcoin could face headwinds in the short term as investors digest macroeconomic data and events taking place this week. The Consumer Price Index will be released on November 14th, followed by the Producer Price Index on November 15th, which could lead to short-term fluctuations.
Short-term retracements are healthy for long-term market trends.
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