{"id":501298,"date":"2022-10-14T20:48:04","date_gmt":"2022-10-14T17:48:04","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-trader-predicts-18k-return-within-days-as-stocks-wilt-post-cpi\/"},"modified":"2022-10-14T20:48:04","modified_gmt":"2022-10-14T17:48:04","slug":"bitcoin-trader-predicts-18k-return-within-days-as-stocks-wilt-post-cpi","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-trader-predicts-18k-return-within-days-as-stocks-wilt-post-cpi\/","title":{"rendered":"# Bitcoin trader predicts $18K return within days as stocks wilt post-CPI"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a32fa4528ee4\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a32fa4528ee4\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-trader-predicts-18k-return-within-days-as-stocks-wilt-post-cpi\/#%E2%80%9D_Bitcoin_trader_predicts_18K_return_within_days_as_stocks_wilt_post-CPI_%E2%80%9C\" >&#8221; Bitcoin trader predicts $18K return within days as stocks wilt post-CPI &#8220;<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-trader-predicts-18k-return-within-days-as-stocks-wilt-post-cpi\/#Analyst_%E2%80%9CAbandon_all_hope%E2%80%9D_for_asset_price_rebound\" >Analyst: &#8220;Abandon all hope&#8221; for asset price rebound<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-trader-predicts-18k-return-within-days-as-stocks-wilt-post-cpi\/#Pundits_see_BTC_bears_winning_out\" >Pundits see BTC bears winning out<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Bitcoin_trader_predicts_18K_return_within_days_as_stocks_wilt_post-CPI_%E2%80%9C\"><\/span>&#8221; Bitcoin trader predicts $18K return within days as stocks wilt post-CPI &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-4b69a2fe>Bitcoin (BTC) cooled near $19,200 after the Oct. 14 Wall Street open as stocks struggled to preserve their \u201cbear trap.\u201d<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-10\/20575d8e-980f-42e3-94f1-eeb73e007833.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Analyst_%E2%80%9CAbandon_all_hope%E2%80%9D_for_asset_price_rebound\"><\/span>Analyst: &#8220;Abandon all hope&#8221; for asset price rebound<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Data from Cointelegraph Markets Pro and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/?exchange=BINANCE\">TradingView<\/a> followed BTC\/USD as it came off one-week highs on the day to circle $19,300.<\/p>\n<p>The pair had seen intense volatility on the back of United States economic data the day prior, this sparking hundreds of millions of dollars in liquidations from both long and short positions.<\/p>\n<p>Now, after turning the tables and adding almost $2,000 in 24 hours, Bitcoin was again losing momentum as U.S. equities turned red on the day.<\/p>\n<p>At the time of writing, the S&amp;P 500 was down 1.9%, while the Nasdaq Composite Index traded a gruesome 5.4% lower.<\/p>\n<p>Investigating the status quo, Alasdair Macleod, head of research at Goldmoney, pointed to rampant gains in long-dated U.S. bonds as a key factor in the pressure being felt across markets.<\/p>\n<p>\u201cUS Try bond yields continue to soar,\u201d he <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/MacleodFinance\/status\/1580957702083477509\">commented<\/a>. <\/p>\n<blockquote><p>\u201cSo long as this is the case abandon all hope for financial asset values.\u201d<\/p><\/blockquote>\n<p>The U.S. dollar index, a classic headwind maker for risk assets, made strong progress on the day, passing 113.4 before consolidating.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-10\/67587fbf-5d01-4f8c-9724-b4f642dbe58f.png\"><figcaption style=\"text-align: center;\"><em>U.S. dollar index (DXY) 1-hour candle chart. Source: TradingView<\/em><\/figcaption><\/figure>\n<p>With the September Consumer Price Index (CPI) print released, sentiment was now overwhelmingly leaning toward the Federal Reserve enacting a further 75-basis-point rate hike in November.<\/p>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.cmegroup.com\/trading\/interest-rates\/countdown-to-fomc.html\">According<\/a> to CME Group\u2019s FedWatch Tool, the odds of a lower 50-point hike were just 2.1% as of Oct. 14.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-10\/c6702420-431c-4c37-a25d-807baa715538.png\"><figcaption style=\"text-align: center;\"><em>Fed target rate probabilities chart. Source: CME Group<\/em><\/figcaption><\/figure>\n<p>Macleod meanwhile noted that even under existing dollar strength, major world currencies were <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/MacleodFinance\/status\/1580958706707337216\">showing<\/a> increasing strain, among them the Japanese yen and, increasingly, the Chinese yuan. The former traded at its lowest versus the U.S. dollar in 34 years on the day.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Pundits_see_BTC_bears_winning_out\"><\/span>Pundits see BTC bears winning out<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Planning ahead, Bitcoin analysts continued to favor downside regaining control of short-term BTC price action.<\/p>\n<p><strong><em>Related:\u00a0Bitcoin bear market will last &#8216;2-3 months max&#8217; \u2014Interview with BTC analyst Philip Swift<\/em><\/strong><\/p>\n<p>Il Capo of Crypto <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CryptoCapo_\/status\/1580876487061667840\">reiterated<\/a> an existing theory involving a push to near $21,000 before a new macro bottoming sequence ensued.<\/p>\n<p>Closer to home, Jibon, known as Trader_J, saw the current highs petering out at or above $20,000, with a <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Trader_Jibon\/status\/1580958556102066196\/photo\/1\">trip to the lows<\/a> near $18,000 on the menu in the coming days.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-10\/6a6ca0f7-8c5c-4a28-8dca-d62953af0228.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD annotated chart. Source: Trader_J\/ <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a><\/em><\/figcaption><\/figure>\n<p>For Micha\u00ebl van de Poppe, founder and CEO of trading firm Eight, the current spot price was an important line in the sand.<\/p>\n<p>&#8220;Bitcoin broke up even more, through which the area around $19.4K is important to sustain,&#8221; he <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CryptoMichNL\/status\/1580877237272080384\/photo\/1\">concluded<\/a> on the day. <\/p>\n<blockquote><p>&#8220;Probably long area. If it holds, finally, we can project $20.8K and $22.4K.&#8221;<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CryptoMichNL\/status\/1580877237272080384\/photo\/1\"><\/a><\/p><\/blockquote>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-10\/ec359b77-797e-41d1-8baf-6ac2612168c7.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD annotated chart. Source: Micha\u00ebl van de Poppe\/ Twitter<\/em><\/figcaption><\/figure>\n<p class=\"post-content__disclaimer\">The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.\n<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/p>\n<\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/bitcoin-trader-predicts-18k-return-within-days-as-stocks-wilt-post-cpi\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Bitcoin trader predicts $18K return within days as stocks wilt post-CPI &#8220; Bitcoin (BTC) cooled near $19,200 after the Oct. 14 Wall Street open as stocks struggled to preserve their \u201cbear trap.\u201d BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView Analyst: &#8220;Abandon all hope&#8221; for asset price rebound Data from Cointelegraph Markets Pro and TradingView&#8230;<\/p>\n","protected":false},"author":1,"featured_media":501299,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTAvYzk1NDFiZDUtNzJiMS00MzgwLWI1NzUtOWU3MjRkMWRkNTM2LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,70550,73785],"class_list":["post-501298","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-price","tag-federal-reserve","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/501298","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=501298"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/501298\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/501299"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=501298"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=501298"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=501298"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}