Cryptocurrency market and bitcoin It has been relatively stable over the past week, with the price of BTC dropping to around $16,800 after a brief period above $17,000.
A Very Important Week for Bitcoin and Crypto Money Market Awaits Investors
In the coming week, cryptocurrency users will be keeping a close eye on a few key developments. As it is known, data from the USA significantly affects the Bitcoin and crypto money market.
Monday, January 9
20:30 – Atlanta Fed President Raphael Bostic will speak.
Tuesday, January 10
17:00 – Fed Chairman Jerome Powell will speak in Sweden.
Powell’s statements will be watched closely for any clues about the future direction of monetary policy in the United States.
Thursday, January 12
Finally, on Thursday, January 12, two important economic indicators will be released in the United States.
16:30 – US annual inflation rate will be announced. (Expected: 6.6%, Previous: 7.1%)
16:30 – US initial jobless claims (Expected: 210,000, Previous: 204,000) and ongoing unemployment claims will be released.
It is important to note that the relationship between inflation and the cryptocurrency market is complex and not always direct. Factors such as investor sentiment, regulatory developments, and market competition can also affect the price of cryptocurrencies. It is impossible to predict with certainty how the cryptocurrency market will react to a change in the inflation rate.
As always, any change in these economic indicators can have significant effects on the cryptocurrency market. Cryptocurrency users will be following these developments closely next week to see how they can affect the market.
*Not investment advice.
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