30s Summary

Bitcoin’s value was close to $90,000 as of November 14, following the release of US inflation data. Despite the Consumer Price Index being as expected at 2.6%, Bitcoin’s value surged past $90,000. With over an 80% chance that the Federal Reserve will slash interest rates again in December, observers believe there’s little to prevent Bitcoin’s price from escalating further. Predictions from market analysts range from $100,000 to as much as $200,000.

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On Nov 14, Bitcoin was hovering near $90,000 after reaching another all-time high.
This came after the latest US inflation data was released. The October print of the Consumer Price Index (CPI) was about what people expected at 2.6%. Even so, Bitcoin stayed pretty steady and even shot up past the $90,000 mark briefly.

People are also betting that the Federal Reserve will lower interest rates again in December. Right now, the chances of that happening are over 80%, says the FedWatch Tool from the CME Group.

Those following the crypto market believe that not much stands in the way of Bitcoin’s price going up even more. Quinn Thompson, who runs the hedge fund Lekker Capital, said after the data came out, “See you at $100k Bitcoin next week.” Trader, analyst and entrepreneur Michaël van de Poppe agrees with that six-figure target.

Popular trader Skew sees $95,000 as a key point based on liquidity. Meanwhile, Onchained, a contributor to onchain analytics platform CryptoQuant, thinks there are even more gains to be made. They believe that the Bitcoin price could go from its current level of $93,000 to between $180,000 and $200,000.

This article isn’t meant to be taken as investment advice or recommendations. Investing and trading carry risks, and you should do your own research before making a decision.