The cryptocurrency market has seen a significant rally this week, led by Bitcoin, following Fed Chair Jerome Powell’s dovish speech.
Jerome Powell’s Speech
Federal Reserve Chair Jerome Powell made dovish remarks, positively impacting the cryptocurrency market. Investors interpreted these statements as a potential signal for interest rate cuts, which may give a new boost to the crypto assets market.
Arrest of Telegram Founder
This week also saw the arrest of Telegram founder Pavel Durov in France. This event could affect the cryptocurrency market over the coming weekend and subsequent days.
Economic and Altcoin Events Calendar
Here is the calendar of significant economic events and altcoin developments for the upcoming week: Monday, August 26: * A press conference will be held regarding the situation of Telegram founder Pavel Durov. * STRK – V0.13.2 mainnet update will be made. Wednesday, August 28: * NVDA is to release its earnings report. Thursday, August 29th: * 15:30 – US Gross Domestic Product (GDP) Quarterly (Expected: 2.8%, Previous: 2.8%) * 15:30 – US Initial Jobless Claims (Expected: 234k, Previous: 232k) * 22:30 – FED member Bostic will speak. Friday, August 30: * MAGIC – Treasure Chain mainnet launch will take place. * WLD – Will release layer 2 chain by the end of the month. * AERGO – V4 Hardfork will be made. * STX – Nakamoto update will be launched. * 12:00 – Eurozone Consumer Price Index (CPI) Annual (Expectation: 2.2%, Previous: 2.6%) * 15:30 – US Core Personal Consumption Expenditures (PCE) Price Index Monthly (Previous: 0.2%) * 15:30 – US Core Personal Consumption Expenditures (PCE) Price Index Annual (Previous: 2.6%)
This week promises to be filled with significant events for the cryptocurrency market. Investors should pay close attention to economic news and developments in altcoins.
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