It seems that this week is the busiest of the month for traders and investors. Indeed, many projects that will shake up the crypto market will be launched. The results of technology companies Amazon, McDonald’s, Coca-Cola, Visa, Apple, Microsoft, Alphabet and Meta are also expected. The Fed is also expected to decide on the possible increase in interest rates in the United States.
Crypto market: what to expect this week?
On July 24, the GoodValueCrypto account was made a Twitter post according to which “ the economic agenda of the week is announced ”very busy. We should also expect the crypto market to be more volatile. That said, this week, precisely on July 26 and 27, an important meeting of the Federal Reserve (Fed) is to be held. As a result of this meeting, the central financial institution of the United States may raise interest rates.
You should know that if the Fed raises interest rates, there is a high chance that the cryptocurrency market will experience other turbulence. That said, Ellen Gaske, Senior Economist at PGIM Mounted Earnings, said: “ The Fed has let us know that it is unlikely to let go of the brakes until it sees a convincing change in the trajectory of monthly inflation readings, which could indicate progress towards the Fed’s 2% target. ».
In addition, on Thursday, the advance estimate of GDP for the second quarter is expected to be published. This is information that is much awaited by market participants who want to know if a recession is already underway or not. In addition, economists will use this information to estimate the rate of progress of the US financial system.
In addition, by Friday, the second quarter results of 170 companies are expected. Among these companies are: Meta Platforms (FB), Amazon (AMZN), Microsoft (MSFT), Alphabet (GOOGL) and Apple (AAPL).
This week will be rather busy on the world markets. And the prices of cryptocurrencies could once again fall, or on the contrary climb! All in all, traders and investors need to stay alert.
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Far from having cooled my ardor, an unsuccessful investment in 2017 on a cryptocurrency only increased my enthusiasm. I therefore resolved to study and understand the blockchain and its many uses and to relay information related to this ecosystem with my pen.