Crypto Market Outlook 2023 H2: Bitcoin, Ethereum, Altcoins To Rally Or Headwinds Coming?
Crypto Market Outlook in 2023 US GDP grew 2% in Q1, well above the 1.3% estimate. US Federal Reserve Chair Jerome Powell, the European Central Bank, and the Bank of England cleared at the annual ECB Forum event that central banks will continue raising interest rates in 2023 H2. Powell on Thursday reiterated two more hikes this year. advertisement The market expects the US Core PCE inflation data, Federal Reserve’s preferred gauge to measure inflation, to come in at 4.7%. It will cause the US Fed to continue hiking rates in H2, as CME FedWatch indicates an 87% probability of a 25 bps in July. The US Treasury General Account rebuilding and the US dollar will also impact crypto prices in the second half, with the US dollar index (DXY) rising again above 103 after two weeks. Crypto analysts and Bloomberg analysts are bullish on Bitcoin price hitting $40,000 in July or early August as traditional finance firms including BlackRock, Fidelity, and Invesco fil...