Bitcoin Owners Look Out For Two Big Events Happening This Week!
Bitcoin Owners Should Look Out For Two Big Events Happening This Week!
A huge milestone in crypto has just happened last week. The Merge is a huge achievement done by Ethereum to convert from PoW to PoS system. As the timing is close to the inflation report, it kind of affect the way the market reacted after the huge event.
1 week on since the Merge, there are another 2 huge events that Bitcoin and crypto investors should definitely look out for to know whether hold or not.
The FOMC meeting to discuss the Fed interest rate will happen on Tuesday (September 20) and ends on Wednesday (September 21) this week. FED chair, Jerome Powell will announce how much he will raise the FED fund rate. Since the last CPI report, inflation has not slowed down in the US, which means that we can expect an increase in the Fed fund target rate.
This huge event will on everyone’s mind to see how much rates is going to be increased. It is expected that the Fed will increase rate by around 75 bp.
After US August CPI data, around 38% are expecting a super-sized, full-percentage point increase in the Fed funds target rate. 😰 @CMEGroup @federalreserve pic.twitter.com/XTuBFJK5zN
— inscribly (@goinscribly) September 14, 2022
One of the most famous investor, Robert Kiyosaki did explained what is going on the US right now that may trigger the hike in Fed rate and also inflation.
He said that the US borrows too much money to keep interest rates low, which in turn forces US to borrow more money to buy more US bonds. This causes inflation and forcing the interest rates to go up. And he also recommend to invest in Gold, Silver and Bitcoin during this time.
1. US borrows too much money. 2. US keeps interest rates low. 3. Low interest rates forces US to borrow more $ to buy more US Bonds 4. to keep interest rates low 5. Causes inflation 5. Forcing interest rates up 6. Debt becomes too expensive 7. US dollar dying. BUY G-S-Bitcoin
— therealkiyosaki (@theRealKiyosaki) September 18, 2022
Vasil Hard Fork Incoming
One of the founders of the Cardano Blockchain, Charles Hoskinson has given an update on the big update coming to Cardano, the Vasil Hard Fork. According to Hoskinson will be done on Thursday, September 22nd 2022.
Rocket is in the air. HFC request summitted and accepted. Vasil upgrade is underway. See you on September 22nd, 2022 pic.twitter.com/Sjs2r0vhao
— Charles Hoskinson (@IOHK_Charles) September 17, 2022
What does this upgrade means for Cardano? Vasil will increase functionality, performance & scalability to the blockchain system. This may bring more dApps and usability and scaling after the upgrade.
Currently there is not much movement on ‘buy the movement’ on ADA right now. Maybe it is because people are also waiting for the Fed rate news that is coming 1 day before the Vasil hard fork.
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