As usual, today we are discussing the important developments in the crypto market for the upcoming week. With the price of Bitcoin hovering around $39,000, investors have a busy agenda. What can crypto investors expect between December 4th and 10th?
Last week, there were several important developments that supported the increase in Bitcoin price. The PCE data came out very positive and unemployment claims were as expected. These macroeconomic developments led to gold reaching its all-time high. Now, let’s take a look at the upcoming developments in the coming days.
On Monday, there may be a development related to NEO Coin that can have a positive impact on its price. Such updates can increase investor demand. The JOLTS data to be announced on Tuesday will reflect the current state of labor demand in the US. Additionally, Federal Reserve Chairman Powell emphasized yesterday that there should be a weakening in the employment sector. The ADP data to be released on Wednesday indicates that the weakness in Agricultural Employment should continue as a leading indicator.
Friday stands out as the most critical day in the macro sense because employment data will be announced. An unemployment rate below expectations can lead to sharp sell-offs in cryptocurrencies. On the other hand, lower-than-expected average hourly earnings can affect demand inflation.
Investors should be aware of the high volatility and risks associated with cryptocurrencies and should conduct their transactions based on their own research.