A crucial week is coming up as Big Tech releases their earnings. What can we derive from this for the crypto market? What’s going on with Binance and Bitcoin? And what can we actually expect for the upcoming Fed meeting? That and much more in the video.
The Wait for the Bitcoin Spot ETF
These are exciting times in the world of cryptocurrencies. We are all eagerly awaiting the SEC’s decision on the Bitcoin Spot ETF, which is expected to be due in a month and a half. Although I don’t expect a decision this year, I think we’ll see the result in about 240 days, the maximum the SEC can postpone. Interestingly, this timeframe coincides with the Bitcoin halving, and it could well be that we’ll see some kind of trend reversal here.
Perhaps the Strongest Blockchain
While we’re waiting for this decision, there are many opportunities to invest in the crypto market. Ethereum, Bitcoin, and DeFiChain continue to offer attractive buying opportunities. Particularly noteworthy is the fact that Ethereum is currently the only blockchain that generates so many fees that it’s deflationary. Hence, one could argue that Ethereum is currently the strongest blockchain. Bitcoin, on the other hand, benefits enormously from the massive brand.
The Overall Markets and the Fed Meeting
But it’s not just the crypto world that holds exciting developments; the macro markets are also moving. Especially the upcoming meeting of the Federal Reserve (Fed) is eagerly awaited. The question is whether there will be further interest rate hikes or whether this will be the last interest rate hike for some time. Personally, I believe we will experience another recession, even though many do not currently share this opinion.
The Tech Sector and Quarterly Results
Another significant development this week are the quarterly results of the big tech companies. Apart from Apple, almost all big tech companies are reporting their earnings this week. It will be exciting to see what these reports reveal about the health of the tech sector. Will there be job cuts? How will the stock prices react to the figures? All these questions will be answered in the coming days.
Conclusion and Outlook
Overall, we are facing a decisive week in both the crypto and the tech world. It could well be that in a few months we will look back on this week and say: “That was the point when things changed.” So let’s stay tuned, follow the developments and continue to make smart investment decisions.
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