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COINTURK NEWS > Cryptocurrency News > Critical Developments for Cryptocurrencies in the Upcoming Week
Cryptocurrency News

Critical Developments for Cryptocurrencies in the Upcoming Week

In Brief

  • As always on Sundays, we are discussing the critical developments of the upcoming week. What can we expect from the markets? For cryptocurrency investors, macro developments have become increasingly critical in the past 2 years. The transition to tight monetary policies on a global scale and the appreciation of the US dollar worldwide have had […]
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COINTURK NEWS 2 years ago
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As always on Sundays, we are discussing the critical developments of the upcoming week. What can we expect from the markets? For cryptocurrency investors, macro developments have become increasingly critical in the past 2 years. The transition to tight monetary policies on a global scale and the appreciation of the US dollar worldwide have had a negative impact on Bitcoin and other risk assets.

Contents
Critical Developments for CryptocurrenciesJuly 17, MondayJuly 18, TuesdayJuly 19, WednesdayJuly 20, ThursdayJuly 21, FridayJuly 22, SaturdayImpact on Cryptocurrencies

Critical Developments for Cryptocurrencies

In the final hours of the week, inflation data was released and it was in line with expectations. The announcement of core inflation below expectations at 4.8% was quite positive. However, we should not forget that due to the base effect, the rate of decline may slow down even more over time. So, what can cryptocurrency investors expect in the next 7 days?

July 17, Monday

  • 05:00 China GDP (Expectation: 7.3% Previous: 4.5%)
  • 05:00 China Industrial Production (Expectation: 2.7% Previous: 3.5%)
  • Ethereum Community Conference (EthCC)
  • APE Token Launch ($31.67 million)

July 18, Tuesday

  • 15:30 US Core Retail Sales (Monthly Expectation: 0.3% Previous: 0.1%)
  • 17:00 Fed/Barr Speech

July 19, Wednesday

  • 09:00 UK CPI (Expectation: 8.2% Previous: 8.7%)
  • 15:30 US Building Permits (Expectation: 1.495M Previous: 1.496M)

July 20, Thursday

  • 04:15 PBOC Interest Rate (Previous: 3.55%)
  • 15:30 US Continuing Jobless Claims (Expectation: 1.725K Previous: 1.729K)
  • 15:30 US Initial Jobless Claims (Expectation: 243K Previous: 237K)
  • 17:00 US Existing Home Sales (Expectation: 4.23M Previous: 4.3M)
  • 14:00 CBRT Interest Rate Decision (Previous: 15%)
  • IoTeX (IOTX) V1.11.0 Hardfork
  • Cartesi (CTSI) Web 3.0 Meetup

July 21, Friday

  • Blockchain Oracle Summit

July 22, Saturday

  • ID Token Token Launch ($4.08 million)
  • AXS Token Launch ($21.34 million)

Impact on Cryptocurrencies

We will see important signals regarding the employment side in the US. If initial jobless claims come in above expectations, we may see rapid increases in cryptocurrencies, as we have seen many times in the past. The CBRT decision is also very important this month. Investors in Turkey are closely monitoring TRY pairs, and there is a possibility of raising interest rates to 20%. This could lead to a slight retreat of the US dollar and the appreciation of the Turkish lira. Moreover, the tightening of fiscal policies and increased taxes indicate that we may need to tighten our belts even more in the future.

On the other hand, token launches are very important in terms of altcoins. Two major crypto events will take place in the coming days. Here, we may see projects announcing their major plans/partnerships to take advantage of the recent market rally.

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 16 July, 2023 - 7:32 am 16 July, 2023 - 7:32 am
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1 Comment
  • Yakubu Sumi says:
    16 July, 2023 - 8:56 am at 8:56 am

    Hi

    Reply

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