Krüger Releases Date Forecast for Crypto Rally

Economist and crypto analyst Alex Krüger says that Bitcoin (BTC) and Ethereum (ETH) prices could drop further. However, he still states that he expects a new cryptocurrency rally in the near future. In his post to his followers on Twitter, Krüger says that the reason for the decline in the crypto money market is that the US Securities and Exchange Commission (SEC) shut down the staking services of the crypto exchange Kraken. Despite this, he also states that the crypto market can bounce back in a few days at the earliest. It continues:

“Let’s take a quick look at the market. The next rally will either start with the CPI data or at the end of the month. BTC and ETH still have levels to visit below. No need to worry about this drop. I see this as a healthy fix. A full bear situation will only happen if the CPI exceeds 0.2 percent.”

The CPI, which reflects the US inflation data, is scheduled to be announced on February 14. The cryptocurrency market follows this metric closely. Because this data will determine the next step of the US central bank Fed to fight inflation. CPI coming in lower than expected is generally considered bullish for Bitcoin and the cryptocurrency market. Because the Fed can now decide to stop the aggressive interest rate hike.

Krüger also says that the SEC’s next target for staking could be Coinbase. According to him, the next two weeks may be the accumulation phase. A new rise will follow. In general, he thinks that the SEC’s pursuit of cryptocurrency exchanges in the US may have positive effects on the industry for the future.