As every Sunday, today we discuss important developments awaiting us in the cryptocurrency markets. Preparing for big events and predicting volatility in advance is not difficult. We have often witnessed that these events, which concern cryptocurrency investors, generally trigger volatility as expected. So, what awaits crypto investors in the next 7 days?
Important Developments in Cryptocurrencies
Bitcoin price is still below $60,000. Nevertheless, the decline in most altcoins has paused due to weak recovery. In the coming days, there will be many important developments both on the macroeconomic front and specifically in crypto. Below is the full list with day and hour details.
Monday, August 19
- 16:15 Fed/Waller Speech
- Berlin Web3 Summit
Tuesday, August 20
- 14:00 CBRT Interest Rate Decision (Expectation: Stable)
- 20:35 Fed/Bostic
- 21:45 Fed/Barr Speech
- AVAX Unlocking ($198.4 Million)
Wednesday, August 21
- 21:00 Fed Minutes to be Released
Thursday, August 22
- 07:00 Jackson Hole Symposium Begins
- 15:30 US Unemployment Claims (Expectation: 230K Previous: 227K)
Friday, August 23
- 17:00-18:00 Fed Chairman Powell‘s Jackson Hole Speech
Note: On August 28, NVIDIA earnings report will also be released. AI altcoins are likely to price in the expectation days before this earnings report. We have seen similar things in previous reports.
How Will It Affect Cryptocurrencies?
Jackson Hole is the most important economic meeting of this month. Officials from G20 countries will evaluate the state of the global economy here. Statements from the Fed Chairman and others are of key importance, especially amid global recession concerns. It is possible that central banks will also explain their stance towards cryptocurrencies here.
Global inflation has now been broken, and the Fed is forced to make delayed cuts because it cannot risk raising rates again after starting to cut them. However, other central banks have started making cuts. Powell may also say things about the interest rate path and not choking the global economy further at this meeting.
The Fed minutes to be released on Wednesday may again contain important details. Perhaps we will see more details about the cut here.
