Bitcoin (BTC) Price May be Extremely Volatile This Week-What to Expect This Weekend
Bitcoin is currently rising high slowly and steadily, trying to nullify the bearish influence brick by brick. Despite the bears continuing with their aggression, the price appears to be self-assured of maintaining an upward trajectory until the weekend. Besides, the volume also maintains decent levels due to which, the BTC price continues to maintain its strength.
However, the upcoming week is expected to create huge volatility as the colossal events may mark up which resulted in huge bearish divergence in the recent past.
Despite manifesting enough strength, the BTC price still appears to be fenced in within the FTX fiasco. Therefore, the star crypto is unable to make any larger moves in either of the directions which is expected to change depending on the upcoming events, this week.
The United States Consumer Price Index(CPI) report is all set to create violent changes within the crypto space along with Bitcoin price, regardless of direction. The report is scheduled to be released on December 13 2022 and the FOMC meeting is set to take place on December 14 to discuss the possible interest rates.
These outcomes have had a massive impact on the Bitcoin price in the recent past and hence a specified amount of pressure is expected to mount over the asset soon.
Alongside, the FED has slowed down its action over the interest rates which may not have a larger impact on the crypto space either. Bitcoin price which is currently trading above $17,000 continues to show some strength and hence a firm upswing could be expected until this weekend.