Bitcoin (CRYPTO: BTC) bulls have reason to be nervous. In the span of just a week, the entire investment narrative surrounding Bitcoin seems to have shifted, thanks to the spectacular meltdown of cryptocurrency exchange FTX (CRYPTO: FTT). On Nov. 9, the price of Bitcoin fell below the $16,000 mark, and it was briefly trading at its lowest price in nearly two years. This after Bitcoin had been trading near the $20,000 level for months. For the year, Bitcoin is still down 65%.

That doesn't seem to paint an overly attractive investment outlook for Bitcoin, but there are three key catalysts that could move Bitcoin higher in the coming months. 

The first major catalyst, of course, is a brightening outlook for the U.S. economy. When Consumer Price Index (CPI) numbers came out just days after the FTX collapse, they provided an immediate boost for Bitcoin. The inflation rate, which had been 8.2% in September, cooled off to just 7.7% in October. On news that inflation appears to be declining, the price of Bitcoin immediately spiked from $16,500 to $17,500.

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Source Fool.com