Risk markets, including cryptocurrencies, are going through a difficult period due to the Fed’s ongoing tightening policy. While US stock markets have seen a significant recovery in some companies, the expected comeback in cryptocurrencies has not yet begun. Indeed, the Fed has not yet changed its course. So what will crypto investors see next week?
Crypto Currencies Weekly Calendar
As always on Sundays, we will discuss the important developments that will take place in the crypto currency markets over the next 7 days. What will happen in the macro arena, developments specific to crypto and their potential effects on the markets. As you know, there are only a few hours left until the critical Fed week, and the market has largely priced in what will happen. The important developments that will take place day by day in Turkey time are as follows;
September 18th Monday
- 12:00 and 15:30 ECB Members Will Speak
September 19th Tuesday
- 12:00 Euro Zone Inflation (Expectation: 5.3%, Previous: 5.5%)
- Real-World Asset Summit (Highlighted participants: LINK and MATIC)
- Philippine Blockchain
September 20th Wednesday
- 04:15 China Interest Rate Decision (Expectation: Stable)
- 21:00 US Fed Interest Rate Decision (Expectation: Stable)
- Fed 3-Year Interest Rate Forecasts
- 21:30 Fed Chairman Will Speak
- Mainnet 2023 Event
September 21st Thursday
- 15:30 US Initial Jobless Claims (Expectation: 225K, Previous: 220K)
September 22nd Friday
- 16:45 US Manufacturing PMI (Expectation: 47.9)
- 16:45 US Services PMI (Expectation: 50.3, Previous: 50.5)
- ID Token Lock Opening ($3.89 Million)
Tips for Crypto Investors
The most important thing on the macro front will be the Fed’s interest rate decision. If China announces a surprise decision, it can bring serious fluctuations. On the other hand, blockchain events are continuing, and significant announcements can be made by crypto teams here. Movements specifically related to altcoins can be triggered by these announcements. We will see that many teams, including XRP and SOL, will participate in the Mainnet 2023 event to be held in the US.
The Fed will determine the direction of the market in the medium and long term. We should hear from Powell on Wednesday night that the interest rate ceiling has been announced, otherwise it will be postponed to the November 1 meeting. Thus, the possibility of a interest rate cut before the second quarter will also be clearly eliminated.
