Next Week Is Going to Be Very Volatile

By Astroboy13 | CryptoByte | 19 May 2024


As you know, the markets are driven by the inflow or outflow of money. If there is good news, money will flow into the market, making prices go up, and the opposite goes for bad news. So next week is going to be very interesting to follow due to the number of news events that will surely impact the crypto market.

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ETF Ethereum Spot 

Let’s start with probably the most impactful news for the crypto market: the response by the SEC on the approval or not of the ETF spot application by VanEck on Thursday (23rd) and the ETF of Ark Invest on Friday (24th):

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Sadly, there is a high possibility that it will be rejected due to the fact that the SEC has not specifically said that Ethereum is a commodity. However, if there is an approval, there will be a very strong reaction by the market, so it’s worth keeping an eye on.

Economic Calendar 

Next week is going to be rich in information, with the most important being the minutes of the Federal Open Market Committee (FOMC).

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To summarize what the FOMC minutes are and their role in a phrase, it’s a meeting that discusses whether there should be any changes to near-term monetary policy. It’s a branch of the Federal Reserve. After this meeting, there is a summary which is called the FOMC Minutes. 

Furthermore, we can also look out for the results of inflation in the UK and Japan that will also come out this week:

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Conclusion

The coming week is going to be very exciting to follow. It’s going to be important if you plan to invest in the market.

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Disclaimer : This is not a financial advice, you need to do your own research !

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Astroboy13
Astroboy13

I'm a crypto entousiast


CryptoByte
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