Bitcoin Price Prediction as US GDP Growth Data is Released

The recent strong performance of the US, with a GDP of 2.4% in the second quarter, may have an impact on the price of Bitcoin.

The recent strong performance of the US, with a GDP of 2.4% in the second quarter, may have an impact on the price of Bitcoin.

As the US economy remains strong, investors may have more confidence in traditional financial markets, leading to lower demand for other investments such as Bitcoin. However, it is important to note that many factors can affect the price of Bitcoin and it is difficult to predict its future value.

Saturday's meeting was quiet with no impact from external forces after Friday's US price data. Crypto news wires have also been silent on ETFs and legislation from US lawmakers to draft US crypto regulations. For investors who are waiting for the SEC's decision on the BTC ETF site, the SEC's decision against the Ripple Court may affect the results. This week, SEC Chairman Gary Gensler reminded traders of his views on the digital asset space, suggesting a long wait for BTC ETF spots.

 

Technical analysis and possibilities:

Technical analysis for BTC is standing on high volatility mode for running week, most of the crypto experts and market traders are expecting that BTC will going to face huge price change to either upside or downside as traders focus on upcoming FOMC decision.  As our technical analysis price could move $30500-$28000

Three have huge possibility that due to declining buying pressure, if BTC could break the previous support level at $28000 then the next price level will seen at $26500-$25000 range. The resistance level is $31000 and support would be $27500.