{"id":538507,"date":"2023-01-10T18:17:51","date_gmt":"2023-01-10T15:17:51","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-price-targets-include-new-14k-dip-as-feds-powell-avoids-inflation\/"},"modified":"2023-01-10T18:17:51","modified_gmt":"2023-01-10T15:17:51","slug":"bitcoin-price-targets-include-new-14k-dip-as-feds-powell-avoids-inflation","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-price-targets-include-new-14k-dip-as-feds-powell-avoids-inflation\/","title":{"rendered":"# Bitcoin price targets include new $14K dip as Fed&#8217;s Powell avoids inflation"},"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-6a401ca3c7d66\" 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-6a401ca3c7d66\" 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-price-targets-include-new-14k-dip-as-feds-powell-avoids-inflation\/#%E2%80%9D_Bitcoin_price_targets_include_new_14K_dip_as_Feds_Powell_avoids_inflation_%E2%80%9C\" >&#8221; Bitcoin price targets include new $14K dip as Fed&#8217;s Powell avoids inflation &#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-price-targets-include-new-14k-dip-as-feds-powell-avoids-inflation\/#Powell_keeps_quiet_on_Fed_policy\" >Powell keeps quiet on Fed policy<\/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-price-targets-include-new-14k-dip-as-feds-powell-avoids-inflation\/#Winklevoss_accuses_GBTC_CEO_Silbert_of_fraud\" >Winklevoss accuses GBTC CEO Silbert of fraud<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Bitcoin_price_targets_include_new_14K_dip_as_Feds_Powell_avoids_inflation_%E2%80%9C\"><\/span>&#8221; Bitcoin price targets include new $14K dip as Fed&#8217;s Powell avoids inflation &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-6ed77c39>Bitcoin (BTC) traders faced dis<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ointment at the Jan. 10 Wall Street open after the United States Federal Reserve declined to comment on future policy.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2023-01\/6f8cf630-5e7b-4f43-beef-fcbd0d633b42.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=\"Powell_keeps_quiet_on_Fed_policy\"><\/span>Powell keeps quiet on Fed policy<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 stayed flat at around $17,250 on Bitstamp.<\/p>\n<p>Hopes had focused on a fresh BTC price catalyst courtesy of the Fed in the form of a <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.federalreserve.gov\/newsevents\/speech\/powell20230110a.htm\">speech<\/a> by Chair Jerome Powell.<\/p>\n<p>Speaking at the International Symposium on Central Bank Independence at Sweden\u2019s Central Bank headquarters in Stockholm, however, Powell avoided the topic of U.S. monetary policy altogether.<\/p>\n<p>\u201cI will address three main points. First, the Federal Reserve&#8217;s monetary policy independence is an important and broadly supported institutional arrangement that has served the American public well,\u201d he began.<\/p>\n<blockquote><p>\u201cSecond, the Fed must continuously earn that independence by using our tools to achieve our assigned goals of maximum employment and price stability, and by providing transparency to facilitate understanding and effective oversight by the public and their elected representatives in Congress. Third, we should \u2018stick to our knitting\u2019 and not wander off to pursue perceived <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">social<\/a> benefits that are not tightly linked to our statutory goals and authorities.\u201d<\/p><\/blockquote>\n<p>The latter point referred to the Fed implicating itself in the climate change debate.<\/p>\n<p>In the absence of market triggers, neither crypto nor U.S. stocks were especially promising in the first hour\u2019s trading on Wall Street.<\/p>\n<p>In fresh analysis on the day, Filbfilb, co-founder of trading suite Decentrader, outlined potential upside and downside targets for BTC price action in the short term.<\/p>\n<p>Volatility, as Cointelegraph reported, was still expected on Jan. 12 with the release of Consumer Price Index (CPI) data for December.<\/p>\n<p>\u201cBuyers have been found for 2 months below 16.5k,\u201d he told Telegram channel subscribers, highlighting several weekly moving averages (WMAs) to bear in mind.<\/p>\n<blockquote><p>\u201c20 WMA sits around 18.3k which is also the current range high, previous support, and diag resistance. If it breaks that key level, the top of the wedge would be the target, also the 200 WMA c.$24k.\u201d<\/p><\/blockquote>\n<p>Should bearish tendencies return, meanwhile, a <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/trip-and-travel\/\" data-internallinksmanager029f6b8e52c=\"10\" title=\"Trip &amp; Travel\" target=\"_blank\" rel=\"noopener\">trip<\/a> to as low as $14,000 remained possible.<\/p>\n<p>\u201cLiquidity shows that it might be a bit of a battle to make it up to 24k,\u201d Filbfilb continued.<\/p>\n<blockquote><p>\u201cIf there is a curveball thrown into the mix, there is fuel in the tank to take us to 14-14.5k.\u201d<\/p><\/blockquote>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2023-01\/fbf86a51-7215-4a71-b236-d8b99d4e55d4.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USDT annotated chart. Source: Filbfilb\/ TradingView<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Winklevoss_accuses_GBTC_CEO_Silbert_of_fraud\"><\/span>Winklevoss accuses GBTC CEO Silbert of fraud<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Elsewhere, tensions involving crypto conglomerate Digital Currency Group (DCG) continued to fester on the day.<\/p>\n<p><strong><em>Related:\u00a0BTC price 3-week highs greet US CPI \u2014 5 things to know in Bitcoin this week<\/em><\/strong><\/p>\n<p>Cameron Winklevoss, co-founder of exchange Gemini, followed up on an open letter to DCG CEO, Barry Silbert, accusing him of fraud and calling on the firm\u2019s board to dismiss him.<\/p>\n<p>The debacle, part of the global fallout from the collapse of FTX, focuses on locked customer funds and SIlbert\u2019s alleged unwillingness to cooperate with creditors\u2019 demands.<\/p>\n<p>A separate effort, \u201c<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.redeemgbtc.com\/\">Redeem GBTC<\/a>,\u201d seeks to gain access to funds on behalf of investors in the Grayscale Bitcoin Trust (GBTC), the largest Bitcoin institutional investment vehicle, with over $10 billion in assets under management.<\/p>\n<p>Its creator, crypto entrepreneur David Bailey, has <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/DavidFBailey\/status\/1612556909881528320\">informally pledged<\/a> to expand the grassroots campaign\u2019s scope to include other crypto funds operated by Grayscale, which in turn is a subsidiary of GBTC.<\/p>\n<p>The event, as before, nonetheless failed to produce noticeable price pressure on Bitcoin itself.<\/p>\n<p class=\"post-content__disclaimer\">The views, thoughts and opinions expressed here are the authors\u2019 alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.\n<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/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-price-targets-include-new-14k-dip-as-fed-s-powell-avoids-inflation\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Bitcoin price targets include new $14K dip as Fed&#8217;s Powell avoids inflation &#8220; Bitcoin (BTC) traders faced disappointment at the Jan. 10 Wall Street open after the United States Federal Reserve declined to comment on future policy. BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView Powell keeps quiet on Fed policy Data from Cointelegraph Markets&#8230;<\/p>\n","protected":false},"author":1,"featured_media":538508,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/cdn-cgi\/image\/format=auto,onerror=redirect,quality=90,width=1200\/https:\/\/s3.cointelegraph.com\/uploads\/2023-01\/23136d5a-99c3-4ad4-8c19-d16545625360.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[82372,74862,74937,76971,90192,82548,70550,73785],"class_list":["post-538507","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-barry-silbert","tag-bitcoin","tag-bitcoin-price","tag-cameron-winklevoss","tag-digital-currency-group","tag-gbtc","tag-federal-reserve","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/538507","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=538507"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/538507\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/538508"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=538507"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=538507"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=538507"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}