The coming month is expected to be crucial to the crypto industry. Some exciting events are going to take place in September. Each of these events will have its own role to play in the crypto sector’s future. Some of these events are simple in nature, like conferences or summits. However, certain ones are very complex because they deal with legal proceedings and economic decisions. Take a look at these events one by one.
Major September to Watch in September 2024
Here are the top events that a crypto enthusiast should never miss in September 2024.
Korean Blockchain Week, Seoul
A major global blockchain and Web3 festival, Korean Blockchain Week, is scheduled to begin on September 1, 2024, in Seoul, South Korea. Several blockchain and Web3 business leaders are expected to participate in the meeting, which is likely to include progressive discussions about the sector’s future. Such a gathering will naturally push the crypto community’s hopes to the next level.
US August Non-Farm Payroll Data
At a time when the US market is discussing the ongoing employment crisis, the release of data sets like Non-Farm Payroll—which shows the number of jobs added or lost in the US economy excluding the farming sector—is very important. The August Non-Farm Payroll Data is expected to be released on September 6th.
An analysis of the one-year data of the United States Non-Farm Payrolls chart shows that in March 2024, the highest value of 310 thousand was reported. In July 2024, it slipped to a low of 114 thousand – indicating a -65 thousand change compared to June 2024, when the value was 179 thousand. In May 2024, it was around 216 thousand.
Upcoming US Presidential Debate Between Trump and Harris
The entire political landscape of the United States is eagering waiting for the first presidential debate between Republican candidate Donald Trump and Democrat candidate Kamala Harris. This big political event, which can decide the future of the United States, is expected to take place on 10th September, 2024. Economy is the central aspect in this election, so there is a reason for the crypto community to stay informed about each and every developments in the US election campaign. In this first debate as well, economy is expected to be the focal point.
US August Consumer Price Index Data
Inflation is always an interesting point for the crypto community. There is a common perception that cryptos are the best investment options during high inflation, as they can act as a hedge. In the light of this, data sets like US CPI – which gives a clear picture of the state of inflation in the US market – are very crucial. The August US CPI data, which measures changes in the price level of a basket of consumer goods and services in August 2024, is scheduled to be released on 11th September.
Last month, the US CPI value was around 314.54 points – the highest in the least one-year timeframe. The index showed at least 0.36 points change in July compared to June, when the CPI value was 314.18 points. Since the beginning of the year 2024, the value has steadily increased. In the first month of this year, it was just 308.417 points.
Token2049 Global Conference
Token2049 is another major conference scheduled for 18 September. The conference is expected to bring together several business leaders, professionals, and investors operating in the crypto industry. The crypto industry can expect some important announcements during this event, like partnerships. Any major partnership or announcement emerging during this event can influence the crypto market.
Trump’s ‘falsifying business records’ Case Final Verdict
Recently, a Manhattan jury convicted Donald Trump on 34 felony counts of falsifying business records in a New York court in May. The sentencing in the case is scheduled for September 18th. Considering the major US Presidential Election, in which Donald Trump is a candidate enjoying the highest winnability chance, is just a few weeks away, any legal development against the Republican candidate may lead to political uncertainty. Even the crypto industry may face the impact of such an unexpected political situation.
Federal Reserve FOMC Meeting
Recently, during his speech at the Jackson Hole Economic Symposium, Federal Reserve Chairman Jerome Powell gave some hints about the central bank’s big plan to reduce the interest rate in September. He also expressed his concern about the cooling down of the US labor market. He noted the present economic situation as the perfect time for a monetary change, as the inflation rate reached the central bank’s target of 2%.
Considering the said points, the upcoming Federal Reserve FOMC meeting, a high-level meeting where the Federal Reserve discusses and changes interest rates, is of great importance. The meeting is scheduled to take place on 18 September 2024. Normally, a cut in interest rates leads to an increase in investment in assets like cryptos.
Binance Founder Changpeng Zhao’s Release from Prison
For the crypto community, Changpeng Zhao is a very important figure, as Binace is one of the most influential cryptocurrency exchanges in the sector, and its founder is known for his tremendous contributions for the growth of the cryptocurrency sector.
The founder of Binance is expected to be released on 29th September. That day, definitely, a major positive sentiment will emerge in the crypto industry. There are many in the crypto sector who believe that the return of Zhao would change the course of the entire sector.
So, this September, for a crypto enthusiast, will be a very crucial month – a month of several major events. It will be interesting to see how the market reacts to each development. Considering the fact that many indicators show the potential beginning of a bullish trend in top cryptos like BTC, there are many reasons to assume that the month of September, 2024 may be golden period for the cryptocurrency market. Agree or disagree? Comment!
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