{"id":616749,"date":"2023-03-11T08:58:29","date_gmt":"2023-03-11T14:58:29","guid":{"rendered":"https:\/\/news.sellorbuyhomefast.com\/index.php\/2023\/03\/11\/crypto-markets-outlook-for-next-week-is-a-severe-crash-waiting-for-traders\/"},"modified":"2023-03-11T08:58:29","modified_gmt":"2023-03-11T14:58:29","slug":"crypto-markets-outlook-for-next-week-is-a-severe-crash-waiting-for-traders","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2023\/03\/11\/crypto-markets-outlook-for-next-week-is-a-severe-crash-waiting-for-traders\/","title":{"rendered":"Crypto Market\u2019s Outlook for Next Week: Is a Severe Crash Waiting for Traders?"},"content":{"rendered":"
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The crypto market has witnessed a severe plunge this week, and traders are now wondering if the market has reached its bottom or if another crash is on the horizon. As several macro events continue to shake the industry, the next week is crucial as several game-changing events will take place, determining the crypto market\u2019s movement in the upcoming week.\u00a0<\/p>\n

Volatile Sessions Will Rule The Market<\/h2>\n

Today, the crypto market witnessed a massive selloff as investors identified risks after the collapse of the crypto-friendly bank Silvergate. Moreover, President Joe Biden\u2019s proposed budget aims to \u201creduce mining activity\u201d and could potentially subject crypto miners in the United States to a 30% tax on their electricity costs, resulting in a negative impact on the crypto space\u2019s future.\u00a0<\/p>\n

The U.S. jobs data is under close scrutiny by traders, who are looking for signs of strong growth like in January with a low unemployment rate. Recently, the Labor Department released data showing that the U.S. economy added 311,000 jobs in February, with the unemployment rate increasing to 3.6 percent. The gain in jobs exceeded economists\u2019 expectations, potentially increasing pressure on the Federal Reserve to accelerate rate hikes.\u00a0<\/p>\n

This could result in an extension of rate hikes and a 50-bps rate hike announcement this month. However, doubts over the Fed\u2019s monetary policy in the upcoming months will be clarified after the release of U.S. CPI inflation data on March 14.<\/p>\n

Hence, a rate hike after 14 March will eventually bring more volatility<\/a> for crypto assets and lower the demand from investors willing to invest in the sector.<\/p>\n

Bitcoin To Determine Next Week\u2019s Trend<\/h2>\n

If the Fed comes up with strict monetary policies and rate hikes to combat the high inflation rise, it may significantly affect Bitcoin\u2019s price<\/a> and plunge the asset with another crash to the $15K level.\u00a0<\/p>\n

As of writing, Bitcoin price trades at $20K, with a decline of over 7% in the last 24 hours. The sharp decline in the BTC price chart has forced other assets to witness a similar meltdown. Over the past day, Dogecoin, Shiba Inu, Solana, and XRP have all experienced losses of approximately 10%, 9.20%, 9.50%, and 8%, respectively. The global crypto market also saw a downturn, falling by almost 8% and dropping below the $1 trillion mark for the first time since mid-January to reach $918 billion.<\/p>\n

If the crypto market comes across another bad news next week, it may plunge Bitcoin\u2019s price to December levels near $16K, marking another crash for the industry.\u00a0<\/p>\n<\/div>\n

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Shayan Chowdhury<\/a><\/h3>\n

Shayan is a digital nomad and a professional journalist. He delivers high-quality engaging articles to Coinpedia through his in-depth research and analysis.<\/p>\n<\/div>\n<\/div>\n<\/div>\n

Read More<\/a>
\n Shayan Chowdhury<\/p>\n","protected":false},"excerpt":{"rendered":"

The crypto market has witnessed a severe plunge this week, and traders are now wondering if the market has reached its bottom or if another crash is on the horizon. As several macro events continue to shake the industry, the next week is crucial as several game-changing events will take place, determining the crypto market\u2019s<\/p>\n","protected":false},"author":1,"featured_media":616750,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[22791,386],"tags":[],"class_list":{"0":"post-616749","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-crypto","8":"category-markets"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/616749","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=616749"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/616749\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/616750"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=616749"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=616749"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=616749"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}