- Crypto Profit 101
- Posts
- 3 Key Events Set to Shake Up Crypto This Week
3 Key Events Set to Shake Up Crypto This Week
Get ahead of the market with this week's must-watch moves.
Ever watch your portfolio hit new highs only to tank the next day?
It’s that gut-wrenching swing from euphoria to panic—I've been there recently, caught off-guard as the market flipped overnight.
It’s a harsh reminder that in crypto, volatility isn’t just common; it’s inevitable.
This week, we’re in for another dose of volatility, with 3 major events set to shake up the crypto space.
Key Events This Week:
1. U.S. Presidential Election - Tuesday
2. ISM Non-Manufacturing PMI data - Tuesday
3. Initial Jobless Claims data - Thursday
4. Fed Interest Rate Decision - Thursday
5. MI Consumer Sentiment data - Friday
6. ~15% of S&P 500 companies report earnings… x.com/i/web/status/1…
— The Kobeissi Letter (@KobeissiLetter)
1:28 PM • Nov 3, 2024
You might be thinking, “Another market analysis? Sounds confusing.”
I get it. Most of what’s out there is packed with technical terms and complex charts.
But don’t worry—this isn’t a flood of confusing data.
I’m cutting right to the chase, giving you the key moves to watch and how to act on them.
By the end, you’ll have a clear game plan to stay ahead in the market this week.
1. U.S. Presidential Election – November 5
Brace yourself. Political shifts often mean market swings, and Tuesday’s election could spark a rally or a sell-off.
Source: NBC News
Here’s the breakdown:
Trump Win? Historically, markets see a bit of optimism around his policies, which means crypto could get a boost.
Traditional investors look for stability, and if this pans out, we could see some green candles.Harris Victory? Different story. New policies could mean potential crackdowns on financial liberties or regulatory shifts that rattle crypto investors.
What This Means for You: Stay nimble. Swing traders, look out for sudden volatility and entry opportunities. Whichever way the vote goes, markets will be reacting sharply.
2. Federal Reserve’s Interest Rate Decision – November 7
This Thursday, the Fed is expected to pull the trigger on a 0.25% rate cut.
Sound familiar? It’s the Fed’s standard play to stimulate the economy, and investors are watching this like hawks.
Expectations vs. Reality: A rate cut can encourage spending and investment but may also raise concerns about inflation and economic stability.
With this move, crypto may serve as a hedge, as people look to move their cash to high-yielding assets like Bitcoin.Investor Sentiment: We’re seeing a trend here. Traditional assets may stutter, but crypto’s appeal grows as a hedge against a jittery economy.
Swing Traders, Take Note: This event could bring some buying pressure into crypto. Be ready to position yourself as the market digests the news and the reactions pour in.
Why not check it out? I think you’ll find Decentraland pretty cool.
You get to actually own virtual land, create your own style with custom avatars, and there’s even daily quests and mini-games to keep things interesting.
It’s like the future of online worlds, and honestly, it feels like the perfect time to dive in and explore.
Take a look here if you're curious—it’s worth a few minutes to see what all the buzz is about:
New Decentraland desktop client for Mac and Windows
Enhanced avatars and social interactions
Improved performance and upgraded environments
New features: badges, daily quests, and mini-games
3. Economic Indicators Rolled Out Across the Week
Finally, we’ve got a few heavy-hitting reports coming out.
These may not scream “crypto” directly, but each carries insight into market sentiment, which is gold for savvy traders like you.
ISM Services PMI (Tuesday) – A snapshot of business conditions. Higher-than-expected numbers mean confidence in the economy, but if it dips, people may look to alternatives like crypto.
Jobs Report (Thursday) – A healthy labor market usually supports traditional investments, but crypto could still gain as it stands apart from jobs-driven market trends.
Consumer Sentiment Index (Friday) – When people feel uneasy, they turn to alternative assets. If sentiment slips, it could set crypto markets buzzing.
Your Edge: Watch how traditional markets react to these releases. Crypto investors often benefit when sentiment shifts, as they look for safer harbors and higher returns.
Final Takeaway
This week is full of opportunities, but only if you’re ready to stay ahead and make smart moves.
Take these events, plan your approach, and keep a level head.
In crypto, it’s the prepared traders who thrive—and that can be you.
Found this useful? Don’t keep it to yourself!
Share with fellow traders, and if you want weekly insights like this, subscribe to Crypto Profit 101 for clear, no-nonsense guidance.
Let’s keep winning together!
What Did You Think of Today’s Article?Your opinion matters. Helps us create better content tailored to your crypto journey. |
Reply