Hi hive friends.
Hopefully all of you are fine. As you know today was a very special day for crypto users because the CPI data came out today and it's better than what people thought, so that's very good news for the market. People were thinking that 5.1 number will come but data number has come less than that number has come five.
I'm making this post six hours later with the numbers coming in. As you can see the 600 dollars pump came into Bitcoin price as soon as the numbers came out. Even now, the whole scenario is going, we have to see this level, if this level is broken, it will come down. 29800 has been providing support for the last couple of days, if it breaks then we can see it coming down again.
After the report today we have seen some pump inside the altcoins. As today was a special day of Ethereum and that's why we had to open. As we have seen, everyone was saying that it will be go down after that, but I said yesterday that people at that time will not sell it because bull market will come in next few months.
There is nothing new to see in it as far as we can see in its chart it has not even given an 1 cent trade in the entire 24 hours. If it stays like this for a few days, we will see that whales must be enter inside it and again it can go up to 50 cents.
The most exciting thing is that as soon as the numbers come in and people move their money out of the dollar and into bitcoin, we can see a significant drop in the value of the dollar. As such, if it continues to fall for a few more days, it will be a very positive sign for the market and we could see Bitcoin go all the way to $35,000.
In the previous bull market too, time the Bitcoin dominance started going down, it continued to go down for a year. And the way we've seen it today is that it's definitely gotten a bit of a rejection, as you can see in the picture. If Bitcoin stays here is and dominance continues to get more rejections and gets to #40, we're going to see a very good and very strong altcoin season.
[You all also let me know where you think the Bitcoin can go within the next few days]