Despite failing to produce any meaningful development in terms of price, the cryptocurrency market was particularly choppy and indecisive over the past week.
The past seven days were relatively unproductive in the cryptocurrency markets – at least in terms of price development, but this doesn’t mean there wasn’t volatility. The total capitalization seems to be hanging by a thread slightly above the coveted mark of $1 trillion.
By the looks of it, the entire market was particularly indecisive and the main reason for this seems to be Jerome Powell’s speech at Jackson Hole. The Fed isn’t scheduled to produce a rate hike in August, so market participants were eager to get a hint at what might the next hike in September look like. The Fed Chair didn’t provide any concise information, saying that their next move will be entirely based off the data they receive.
It’s worth noting, though, that most of the cryptocurrencies managed to recover from the lows of last week. Some of them, such as BNB and XRP, are even up for the past seven days – 4% and 4.2%, respectively. EOS is this week’s most considerable gainer, increasing by whopping 30%, at the time of this writing.This is all you need not to miss any price action in the raging crypto markets.
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