Big days ahead of us with with upcoming publication of important US Consumer Price Index data later today and the ETH merge. The Crypto Fear & Greed index is moving slowly from extreme fear to fear level (currently on 34). The Crypto market has recovered from its lows since last week and Bitcoin is currently trading at $22,300. It seems as the market anticipates relatively low CPI data (inflation) which will be resulted in a more dovish Fed monetary policy in the months ahead. That may also continue to weaken the strong dollar and trigger a bullish move in risk-on assets such as tech and crypto. It remains to be seen if the highly anticipated upcoming ETH merge which expect to occur on the 15th of September will go according to plan. Some describe this merge as upgrading to illustrate how complex this merge is. The ETH merge event is by far the most significant event in crypto in the last couple of years. With no major issues occurring during the merge, the price of Ethereum as well as coins in its ecosystem can see a nice run as well. a rocket ship after its launch As always, the crypto market is volatile and highly unexpected and we remain cautious. Our SYNAPSE bots have chosen by now to take long positions in various coins and it remains to be seen how well each strategy will perform in the coming days. It is absolutely not a boring period right now and let’s hope that the CPI figures will be favourable and the ETH merge will be completed with no significant issues. Vincent Everts and I are heading tomorrow to the Binance Blockchain Week held in Paris hoping to learn more about the upcoming trends in the industry, new Binance products’ development and hold interviews with some interesting people from the industry.
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