Investors are preparing for important events that will take place next week. Meanwhile, volatility in the crypto market continues. Some investors see the decline as a potential “buy the dip” opportunity. However, there are critical agendas next week. Therefore, investors will be on the lookout for the 3 high-performing altcoins this week.
Investors see declines as an opportunity to buy from the bottom!
Investors are acting cautiously ahead of important events that will take place next week. Therefore, the crypto market has been quite volatile this week. Meanwhile, as you follow from Kriptokoin.com, the market has been on the rise for the last few weeks. Now, according to market experts, some traders are viewing the recent bearish momentum as a “buy the dip” opportunity. According to popular analyst Michaël van de Poppe, altcoin projects are now attracting attention. It is also possible that they will continue to perform well considering the increased volatility in Bitcoin price recently. This puts into focus key events that could significantly impact overall market sentiment over the next week.
Why are next week’s FOMC Minutes important?
Macroeconomic events tend to influence the sentiment of global financial markets, not to mention the crypto-asset space. Meanwhile, investors’ recent cautious tone also suggests that the market is seeking more clarity on recent economic performance and the Fed’s potential move regarding interest rate hike plans. Inflation, which was higher than expected, reduced market sentiment throughout the year. Additionally, rising interest rates have forced investors to race to the top. However, recent economic data, particularly US inflation data, showed that inflation fell in October.
But despite cooling inflation, it remained above the Fed’s 2% target range. This negatively affected some investors. Some investors still think there is room for the Fed to raise policy rates. Now investors are eagerly awaiting the October FOMC meeting minutes, which will shed light on the Fed’s potential future stance. FOMC Minutes will be published on Tuesday, November 21. Market participants will be watching these minutes closely for clues about the current state of the economy.
3 altcoins that should be on your watch list next week!
Celestia (TIA): Jumped 92% this week
TIA has added over 93% to its price in the last seven days. Thus, he was among the top earners this week. Meanwhile, at the time of writing, the altcoin is trading at $6.63, up 13.35% on a daily basis. The one-day volume of the token decreased by 0.56% to $519.93 million.
TIA weekly price chart. Source: CoinMarketCapKaspa (KAS): Up 50% this week
Another best performing altcoin project this week was Kaspa. KAS witnessed an increase of over 50% in its price this week. In addition, the token price increased by 9.66% to $0.1311 at the time of writing. Meanwhile, KAS’s trading volume in the last 24 hours decreased by 20% to $166.94 million.
KAS weekly price chart. Source: CoinMarketCapAvalanche (AVAX): Increased its value by 49%
AVAX price has decreased by 3.17% in the last 24 hours. The altcoin was trading at $21.20 at the time of writing. Accordingly, the trading volume of the token decreased by 49.86% to $990.38 million. However, over the last seven days, AVAX is up over 48%. It also reached a 30-day high of $24.54 on Friday, November 17.
AVAX weekly price chart. Source: CoinMarketCap
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