The cryptocurrency market is waiting for a volatile week – Crypto News

Analytics

The capitalization of cryptocurrencies grew by 10% in two days, investors are set to positively win back Ethereum hard forks, which will transfer the blockchain of the second largest altcoin to the PoS algorithm during the first half of next week.

Fundamental events in the economy can significantly strengthen the emerging positive trend of digital currencies, if US inflation data show its slowdown.

The August decline in the growth dynamics of US consumer prices will not cancel the decision to raise fed rates at the end of September. The tight monetary policy of the United States has become the main reason for the current crypto winter. However, investors expect that high rates will lead to a curb in inflation and the completion of the cycle of tight monetary policy by the end of this year.

In other words, the dynamics of consumer prices in September and October will decide the fate of the Christmas rally of the cryptocurrency market at the end of the year. Among the events that can affect the markets during this week, it is worth noting:

– Today: China’s Direct Investment

– Tuesday: Inflation of the UNITED STATES, Germany, the start of the DAS conference of crypto fund managers and venture investors in New York, the block of UK statistics with comments of the new Prime Minister

– Wednesday: Dubai Metaverse Summit, Ec President’s address to the European Parliament

– Thursday: Conversion of the Ethereum blockchain

– Friday: China statistics, Eurozone inflation