Bitcoin continues searching for $21,700 throughout the weekend while Ethereum remains above $1,750 and Cardano at $0.51.
People take pains to carry out technical analysis explaining where the price of one or another cryptocurrency is going to bounce when fundamental analysis shows us the path that the markets are going to take. On Tuesday there is data on the CPI and it will be those data that say where prices are going, even if the graphs say otherwise. News about The Merge is expected on September 16 and that news will be what will mark the direction of the price in Ethereum and its network. The Vasil hard fork in Cardano is expected on the 22nd, again this will be the news that will confirm where the price of Cardano is headed.
The month of September, historically bad for cryptocurrencies, may end up changing the direction of the bear market and leaving us with good profits for the last quarter of the year. If the inflation data were much better than expected, Jerome Powell could decide to raise interest rates by only 0.5%, something that would be very well received by the markets that have a 0.75% rise already discounted from prices. With inflation easing and a strong labor market, we could say that the risk of an economic recession is fading and we would begin to see a way out of the problem.
It remains to be seen how the events unfold since we are only speculating and the important thing is that we see a fall in prices so that the FED is forced to curb its momentum.
Cryptoword
Honeygain
If you liked me to see more like this!
