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COINTURK NEWS > Cryptocurrency News > Crypto Enthusiasts Prepare for Significant Events This Week
Cryptocurrency News

Crypto Enthusiasts Prepare for Significant Events This Week

In Brief

  • This week brings significant developments for cryptocurrency enthusiasts.

  • Investors should prepare for market shifts due to upcoming Fed announcements.

  • Inflation data could influence interest rate cuts and market dynamics.

Ömer Ergin
Ömer Ergin 2 years ago
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As every week, today we discuss the important developments for cryptocurrency enthusiasts. In the coming days, we will witness active hours, giving investors an edge if they stay prepared for these events. Here, you can review the expectations along with specific days and timings. What can we anticipate for cryptocurrencies in the upcoming days?

Contents
Key Developments in CryptocurrenciesWhat Should Investors Pay Attention To

Key Developments in Cryptocurrencies

Bitcoin $72,950 (BTC) is hovering around $61,900 on Sunday, and it seems unlikely to surpass $63,000 over the weekend. This situation, disappointing for altcoins, confirms that the challenging environment lasting over six months has not yet ended. Investors hoping for the historical October rise to begin on October 7 must be ready for some significant developments.

What Should Investors Pay Attention To

Crypto investors will experience an exciting week ahead. A sense of regret regarding the July interest rate cut delay in the Fed minutes could positively influence the markets. Additionally, signals from members regarding the pace of interest rate cuts for the next 12 months will be extremely crucial.

A continued decrease in inflation is expected, and the inflation data this week could increase the Fed’s potential for a 50 basis point cut in November. Regardless, a total of 100 basis points in cuts is anticipated before the end of the year, with the basic scenario already priced in by the market. Rising optimism, given that upcoming data aligns with expectations, should trigger the anticipated cryptocurrency surge in the final quarter.

You can follow our news on Telegram, Facebook & 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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Ömer Ergin 6 October, 2024 - 11:30 am 6 October, 2024 - 11:30 am
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