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Cryptocurrencies Price Prediction: Bitcoin & Shiba Inu — American Wrap 12 April

Cryptocurrencies Price Prediction: Bitcoin & Shiba Inu — American Wrap 12 April
FXStreet TeamFXStreet TeamFXStreet

Shiba Inu price eyes 5% drop amid bearish network activities

Shiba Inu price (SHIB) recorded a negative performance across March, a downtrend that delivered the meme coin to the tight grip of the Exponential Moving Averages (EMAs) where it is currently trapped. These price-tracking indicators represent accumulating overhead pressure that prevents the altcoin from advancing.
Bitcoin, the world's biggest cryptocurrency, has been targeted by one of the world's biggest investors Warren Buffet for a long time now. Buffet has been criticizing digital assets ever since the crypto market emerged to be significant and continues to do so even as Bitcoin is standing the test of time.
BTC/USD 1-day chart

The US Bureau for Labor Statistics (BLS) released Consumer Price Index (CPI) data for March. Both CPI YoY, at 5% and CPI MoM at 0.1% came in below market expectations, supporting Bitcoin’s bullish thesis. 

BTC/USD 4-hour price chart

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FXStreet Team

Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.

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