TradingView data showed that Bitcoin price tested the level of $44,280. Current local high, which marked Bitcoin’s highest level since April 2022. Bitcoin price forecast is optimistic.
Bitcoin also regained lost market share, dominating the market with 53.8%, up 0.8% from the start of the week.
The general situation on world markets and its impact on the Bitcoin forecast and the price of the cryptocurrency
In the US, the Dow Jones index fell 0.1%, while the S&P 500 index rose 0.1%. The tech-heavy Nasdaq added 0.2%. The yield on the 10-year US Treasury note fell further to 3.89% in trading.
Oil prices extended a five-day recovery on Wednesday as West Texas Intermediate crude futures rose more than 1%. WTI price rose to about $75 per barrel. Last week, the WTI price hit its lowest level since late June and then rebounded.
The National Association of Realtors reported that existing home sales rose to 3.82 million annually in November, beating estimates. Additionally, the consumer confidence index jumped to 110.7 in December from November’s reading of 102.0.
UK prices fell 0.2% in November 2023 from October – the first fall in four months – while the annual inflation rate slowed sharply to 3.9% from 4.6% month on month, a significant decline forecasts and is the lowest since September 2021. This is reported by the Office for National Statistics (ONS).
Germany’s GfK consumer climate indicator for January was released on Wednesday at -25.1, down from December’s -27.6 and market expectations of -27.0. It was also the highest reading since August.
The indicator measures consumer opinion about the overall economic outlook, households’ major future positions, and how consumers view their financial situation.
Germany is also deciding what to do with its 2024 national budget, which has already suffered some setbacks due to an emergency spending freeze.. This has mainly affected climate and transformation projects, but may also lead to renewal of other budget segments, especially extra-budgetary funds.
What will the price of Bitcoin be in the near future?