Home web3.0 Ethereum (ETH) price prediction when US Consumer Price Index (CPI) data is released

Ethereum (ETH) price prediction when US Consumer Price Index (CPI) data is released

Aug 14, 2024 pm 12:10 PM
ethereum CPI Dự đoán giá

On August 14, the United States will release monthly Consumer Price Index (CPI) data, a leading economic indicator. News about the US CPI can affect all financial markets around the world

Ethereum (ETH) price prediction when US Consumer Price Index (CPI) data is released

Monthly US Consumer Price Index (CPI) data, a key economic indicator, will be released on August 14.

Monthly US Consumer Price Index (CPI) data , a key economic indicator, will be released on August 14.

US CPI news could affect all financial markets worldwide, including cryptocurrencies, stocks, forex and commodities – fueling the search for insights on Ethereum (ETH) price prediction.

News of the US CPI could affect all financial markets worldwide, including cryptocurrencies, stocks, forex and commodities – fueling the search for details on the forecast. Ethereum (ETH) price prediction.

Ethereum is the second largest cryptocurrency by market capitalization after Bitcoin (BTC) and the most valuable blockchain infrastructure ecosystem.

Ethereum is the second largest cryptocurrency by market capitalization after Bitcoin (BTC) and the most valuable blockchain infrastructure ecosystem.

Recently, the project has attracted the attention of traditional financial players such as BlackRock (NYSE: BLK) through the Spot ETH ETF.

Recently, the project has attracted the attention of traditional financial players such as BlackRock (NYSE: BLK) through its Spot ETH ETFs.

Therefore, as leading decentralized finance (DeFi) and Web3 tokens become increasingly important on Wall Street, macroeconomic data releases such as CPI could have a greater impact on speculation its short term price.

Therefore, as leading decentralized finance (DeFi) and Web3 tokens become increasingly important on Wall Street, macroeconomic data releases such as CPI could have a greater impact on price speculation Its short term.

As of the time of writing, ETH is trading at 2660 USD, up 44.31% in one year. However, Ethereum is down 1.32% in the past 24 hours since CPI week began.

As of press time, ETH is trading at $2660, up 44.31% in a year. However, Ethereum is down 1.32% in the past 24 hours since the CPI week began.

AI Ethereum price prediction amid CPI news

AI Ethereum price prediction amid CPI news

In the mid-term prediction, Ethereum could trade between $6,500 and $8,000 by 2025. Meta AI's Llama 3.1 made this prediction considering institutional interest and the growth of ecosystem.

In the mid-term prediction, Ethereum could trade between $6,500 and $8,000 by 2025. Meta AI's Llama 3.1 made this prediction considering institutional interest and system growth. ecology.

Looking at the short-term analysis, we asked ChatGPT-4o, Claude 3.5 Sonnet and Llama 3.1. Specifically, we provided last month's CPI data and this month's expectations, with the current price of ETH.

Looking at the short-term analysis, we asked ChatGPT-4o, Claude 3.5 Sonnet and Llama 3.1. specifically, we have provided last month's CPI data and this month's expectations, with the current price of ETH.

All three artificial intelligence (AI) models consider three scenarios for their Ethereum predictions. First, CPI data meets market expectations of 3% and 3.2% for Core CPI is likely already priced in – expect a 1% to 3% price increase to $2,750.

All three artificial intelligence (AI) models consider three scenarios for their Ethereum predictions. First, the CPI data met market expectations at 3% and 3.2% for Core CPI was likely already priced in – expecting a price increase of 1% to 3% to $2,750.

Interestingly, last month's Consumer Price Index was 3% and 3.3% in the Core indicator.

Interestingly, last month's Consumer Price Index was 3% and 3.3% in the Core indicator.

A bullish case is made if CPI is lower than expectations, which could push ETH to trade between $2,700 and $3,000, according to consolidated forecasts from three models.

A bullish case is made if CPI is lower than expectations, which could push ETH to trade between $2,700 and $3,000, according to consolidated forecasts from three models.

However, a higher-than-expected CPI is likely to cause Ethereum price to fall below $2,500.

However, a higher-than-expected CPI is likely to cause Ethereum price to fall below $2,500.

In general, the Federal Reserve has used CPI data as one of its leading indicators.

In general, the Federal Reserve has used CPI data as one of its leading indicators print determine interest rates.

Reducing price inflation could encourage the Federal Open Market Committee (FOMC) to finally start cutting interest rates.

Reducing price inflation could encourage the Federal Open Market Committee (FOMC) to finally start cutting interest rates.

The high interest rate financial landscape has increased recession fears and capital flight from risky assets like Ethereum.

The high interest rate financial landscape has increased recession fears and capital flight from risky assets like Ethereum.

Against this backdrop, crypto traders and investors may start pricing in interest rate cuts in light of the favorable CPI news.

Against this backdrop, crypto traders and investors may start pricing a rate cut in light of the favorable CPI news.

General Bitcoin News

General Bitcoin News

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