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COINTURK NEWS > Cryptocurrency News > 17 Significant Developments! Cryptocurrencies May Become Active This Week!
Cryptocurrency News

17 Significant Developments! Cryptocurrencies May Become Active This Week!

In Brief

  • As usual, today we will discuss the important developments expected for cryptocurrencies. Critical events in the macro landscape could not disrupt the shallow volatility that we experienced last week. However, we know that the price of Bitcoin has been trapped in a narrow range for quite some time. Moreover, we have seen significant movements follow […]
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COINTURK NEWS 2 years ago
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As usual, today we will discuss the important developments expected for cryptocurrencies. Critical events in the macro landscape could not disrupt the shallow volatility that we experienced last week. However, we know that the price of Bitcoin has been trapped in a narrow range for quite some time. Moreover, we have seen significant movements follow these boring periods in the past.

Contents
Developments in CryptocurrenciesJuly 31, MondayAugust 1, TuesdayAugust 2, WednesdayAugust 3, ThursdayAugust 4, FridayAugust 5, SaturdayWill Cryptocurrencies Rise?

Developments in Cryptocurrencies

We may soon see an increase in volatility for the price of Bitcoin which has been trading in a narrow range. The reason for this could be one of the critical macro developments in the coming days. Looking at the statements made by the Fed Chairman, data such as employment, inflation, and wage increases have become much more important.

July 31, Monday

  • 04:30 China Manufacturing PMI (Expectation: 49.2 Previous: 49)
  • 12:00 Eurozone Inflation (Expectation: 5.3% Previous: 5.5%)
  • 12:00 Eurozone GDP (Expectation: 0.5% Previous: 1%)

August 1, Tuesday

  • 16:45 US Manufacturing PMI (Expectation: 49 Previous: 46.3)
  • 17:00 US JOLTS (Expectation: 9.620M Previous: 9.824M)
  • DYDX Unlocking (13.63 Million $)
  • Baby Doge Coin (BABYDOGE) Token Burn (1.9 quadrillion tokens)
  • Hedera San Francisco Event (Artificial intelligence, blockchain, and evolving corporate environment)

August 2, Wednesday

  • 15:15 US ADP Nonfarm Employment Change (Previous: 497K)

August 3, Thursday

  • 10:00 Turkey CPI (Previous: 38.21%)
  • 12:00 Eurozone PPI (Expectation: -6.9% Previous: -1.5%)
  • 15:30 US Initial Jobless Claims (Expectation: 227K Previous: 221K)
  • 16:45 US Services PMI (Expectation: 52.4 Previous: 54.4)
  • SUI Unlocking (22 Million $)
  • Litecoin Halving (Between August 3-4)

August 4, Friday

  • 15:30 US Average Hourly Earnings (Expectation: 0.3% Previous: 0.4%)
  • 15:30 US Nonfarm Payrolls (Expectation: 184K Previous: 209K)
  • 15:30 US Unemployment Rate (Expectation: 3.6%)

August 5, Saturday

  • GAL Token Unlocking (9.9 Million $)

Will Cryptocurrencies Rise?

PMI data will shed light on the current state of the economy. Although the Fed Chairman said that we do not expect a recession, these data should be closely monitored. Abnormal data can suppress risk markets in both directions due to recession concerns or excessive growth in the economy. The ADP data will be a leading indicator for Friday’s nonfarm payrolls, and if it is high, there may be a decline in the markets. In addition, the most critical day of the week will be Friday, with data such as unemployment and wage increases. Investors can expect high volatility today.

One of the most critical altcoin events of the week will be the Litecoin halving. It is expected to occur within the dates of August 3-4, depending on the performance of the miners. There could be significant fluctuations in the price.

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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COINTURK NEWS 30 July, 2023 - 9:12 am 30 July, 2023 - 9:12 am
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