Summing up the results of 90 days in the cryptocurrency market, we can notice a shake-up of investors and a clearing of the market after a series of bankruptcies of key players in the market - KickEX traders about events that will affect the situation in the cryptocurrency market and scenarios for the development of events.
Tesla's (NASDAQ: TSLA) latest report included the sale of 75% of Bitcoin worth $936M. But the market did not react to this in any way; the greed index is showing growth and currently stands at 33/100, which may indicate positive dynamics and, possibly, a continuation of the correction of the decline.
Market expectations are aimed at the publication of new rates next week, July 27. Most are inclined to raise the Fed interest rate by 75bps. Although, after the news about inflation of 9.1% was released, many were talking about 100bps.
Next week there is also no less interesting news from Tether about the sale of corporate bonds. It would be interesting to see the portfolio of one of the top stablecoins cleared, the trading pairs with which account for at least 80% of all exchanges.
Moving on to the local picture of the Bitcoin price chart, we can consider several development scenarios:
Scenario 1: Continuation of movement towards the key zone $25,500 - 26,600;
Scenario 2: Correction in the area of the control point - $20,800.
Subscribe to ForkNews in Telegram to stay up to date with news from the world of cryptocurrencies
You May Also Like
Analysis of EOS, Stellar Lumen, Litecoin and Bitcoin Cash as of 12/18/2018
A pullback from yesterday's highs will return altcoin prices to the nearest support level.
“By the end of summer we will get out of the range of $22,400 - 17,600” - KickEX analysts
According to the latest report, the US inflation rate for June is currently 9.1%. This has only happened 12 times in the country over the past 110 years. Previous rate increases of 0.75% did not have an effect, so now with a probability of 82% an increase is expected immediately by 1% to a range of 2.5% - 2.75%, which is an extremely negative factor for the growth of the main asset.
