Bitcoin May Surge If Inflation Rate Declines, Analyst Predicts

According to Odaily, Markus Thielen from 10x Research has indicated that most market participants anticipate the U.S. Census Bureau's report on February 12 to show an inflation rate of 2.9%. Thielen noted that the U.S. Truflation Inflation Index, a real-time inflation tracking measure, has decreased from 3.0% to 2.1%. This suggests that inflation pressures might be easing faster than expected. If the Consumer Price Index (CPI) unexpectedly drops to 2.7% or 2.8%, Bitcoin could potentially rebound. A further increase in Bitcoin's price by $10,000 would bring it to $105,491, which is only 3.5% below the all-time high of $109,000 reached on the eve of U.S. President Donald Trump's inauguration on January 20.