Bitcoin Prices Are Still Sideways, Some Of These Momentum Can Be The Influence!

Illustration of Bitcoin (photo: Pixabay)

JAKARTA - Bitcoin movement since July 24, 2023 until today, Tuesday, August 15, 2023 still tends to be sideways. However, there are still some moments that will affect the price of Bitcoin.

Some of the data that will affect the price of Bitcoin, among others are The Fed or FOMC meetings, where this will be a concern for market players and investors this week, to look for clues on how the next policy direction will be.

The two inflationary data have the potential to encourage the attitude of the US central bank to return to hawkish. The Fed's strict stance regarding rising interest rates will have an impact on strengthening the US dollar exchange rate. As a result, other corrected investment currencies and instruments include crypto assets, said the Financial Expert. Ajaib Kripto, Panji Yudha in an online Crypto Magic monthly discussion on Tuesday, August 15.

Panji explained that crypto asset prices tend to move against fiat currencies. When the data leads to a potential increase in US dollars, the price of crypto assets still tends to be difficult to move up. However, the US Central Bank will be careful in raising US interest rates because it is relatively high.

In terms of the crypto industry itself, some positive sentiment comes from the development of altcoin products. Apart from Bitcoin's ETF, several investment managers have also proposed Ethereum (ETH) ETFs, such as Volatity Shares, Bitwise, Direxion, Grayscale, Proshares, Roundhill, and VanEck.