Although the horizontal trend of Bitcoin price in the last week has made investors nervous, the new week is full of important economic developments for cryptocurrencies. These events, which will take place between April 2-5, can play an important role in determining the direction of the cryptocurrency market. Here are the details…
Speeches from FOMC members will come at the beginning of the week
On Tuesday, April 2, FOMC members Bowman, Williams, Mester and Daly will give speeches at different times. In these speeches, members’ views on inflation and interest rates will be closely followed by investors. Hawkish or dovish tone messages that appear in conversations may affect the cryptocurrency market.
Additionally, one of the most important events of the week will be the speech of FED President Jerome Powell on Wednesday, April 3. Powell’s views on inflation and interest rates will resonate with the markets, and the cryptocurrency market may also be affected by this speech. On the same day, FED Vice President for Supervision Barr will also give a speech.
Various data will come from the USA
Initial unemployment claims and non-farm employment data from the USA on Thursday, April 4 will affect the general course of the markets. If these data come in above or below expectations, it may also cause fluctuations in the cryptocurrency market. On the same day, FOMC Member Barkin and Mester will also give separate speeches.
Unemployment rate data from the USA on Friday, April 5, the last business day of the week, will affect the general risk appetite of the markets. An unemployment rate that is above or below expectations will also have an impact on the cryptocurrency market.
Altcoin events: Important developments for cryptocurrencies
This week, there are also critical developments for altcoins. Fetch.AI (FET), SingularityNET (AGIX) AI Alliance continues its merger vote. cryptokoin.com As we reported, the merger of FET, AGIX and OCEAN in the field of artificial intelligence attracted the attention of investors. All three altcoins had recorded significant increases. In other news, Immutable X (IMX) is launching Watch Dogs-themed cards on April 3. Bitcoin Cash (BCH) will halve on April 4, with the block reward halving. Polymesh (POLYX) will update its mainnet on April 3. Mantle (MNT) and Clearpool will enter into a partnership on April 7.
As a result, this week, with intense economic developments and altcoin activities, will be very active for the cryptocurrency market. We will also be in the post-election period in our country. Investors will try to direct their investments by following these developments closely. Volatility in the market may increase throughout the week and sudden price fluctuations may occur.
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