The CPI for November 2022 was released today and came in under the expectations for 7.3% at 7.1% for the last 12 months, a 0.1% increase from last month.
Starting today Glassnode, one of the top sources for chainmetrics added an awesome new metric that in light of the recent FTX fiasco will become instrumental in order for crypto exchanges to regain any sort of public confidence.
On Wednesday, November 30th the Chairman of the Federal Reserve Jerome Powell delivered a well-received message that sent markets flying during a session of prepared remarks and questions at the Brookings Institution. This will be his last scheduled appearance before the central bank's next meeting in two weeks.
Is a bottom in Bitcoin finally here? If not then where? I have been saying that Bitcoin’s bottom would occur between $17,800 - $13,000 for an entire year now, ever since we came off of our new all-time high last November.
The bottom in Bitcoin that held for two years was taken out as prices eroded to new lows starting on November 8th. From the open on Nov.8th to the low on Nov. 9th Bitcoin’s price declined by $5,000, nearly 25% in two days.
