3 Key Events To Watch This Week! That Will Effect the Entire Crypto Market.
True to the fact that these figures under the economic indicators will affect the crypto market this week.
Let's break it down:
Tuesday: Japan’s Producer Price:
This is a report on the price changes in corporates and these influence inflation expectations in the global market and consequently the crypto market. This could inflate expectations on the inflation rate, the rates for products and services could go up, this might contribute positively to cryptocurrency prices given a higher PPI.
Wednesday: Consumer Price Index (CPI):
The following are US & UK reports as follows regarding inflation, which will greatly affect the central banks decisions regarding cryptocurrencies and in turn, the market. ² Higher concluded averages of inflation could prompt increases on interest rates, resulting in the reduction on the attractiveness of crypto assets.
Friday: Real GDP growth of Hong, Taiwan:
Latest’s growth of GDP of these areas are well affect the investor sentiment in the crypto space, thus influencing the crypto market movement ³. It could conclude that an uplift in GDP would translate to a rise in investor confidence therefore higher crypto prices.
Such economic releases will flow through crypto prices because they indicate the state of the economy more generally and affect the willingness of investors to take on risk. The positive effects could see more people investing in the crypto assets, while negative figures could trigger sales and more investments in safer assets thus exerting a bearish influence on the prices of crypto currencies.
#CryptoMarketMoves #WBTCUnderScrutiny #MarketDownturn #SahmRule #Write2Earn!