Analyst: With the arrival of the CPI data, cryptocurrencies are “running out of time”
- The cryptanalyst warned in his most recent video that cryptocurrencies are running out of time.
- Gambardello says that BTC is hovering on the edge of a cliff right now.
- Michael van de Poppe believes that the change in BTC after the data will be huge.
In a tweet yesterday, Dan Gambardello, CEO of Crypto Capital Venture and host of the hugely popular YouTube channel “Crypto Capital Venture,” included a link to his most recent video where he said that the CPI inflation data to be released on two days will determine whether or not and other cryptocurrencies will see a breakout to the upside this week.
The post had the title “crypto is running out of time. Get ready now.” The volatility of Bitcoin and the crypto market has been unusually low in recent weeks, but Gambardello notes that its connection to stock prices has not changed and remains favorable. This is amid concern that has been plaguing investors.
Following the release of the data, Gambardello does not anticipate an increase in the price of Bitcoin that is optimistic. In light of the events of 2018 and 2015, he is of the opinion that the king of the crypto market is now perilously close to the precipice. He went on to say that there is a possibility of capitulation.
However, he added that investors could end up getting that positive opportunity they have been anticipating in the near future.
In a related development, a different cryptocurrency analyst going by the name of Michael van de Poppe has claimed that it is quite likely that the markets will not turn around until all the economic data is released.
Still, Van de Poppe emphasized once again that the change in the Bitcoin market, whenever it occurs, should be quite substantial.
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