Coin Bureau host issues warning, says crypto markets to face series of ‘Wild Cards’ this month

The host of the popular YouTube channel Coin Bureau says that upcoming financial data coming out over the next month could have a big effect on the crypto markets.

In a new video, the analyst known as Guy tells his 2.09 million subscribers that the digital asset market faces several wildcards that could derail the recent rally.

The first is the PCE (Personal Consumption Expenditures) index, a measure of the changes in the prices that people in the United States pay for goods and services.

“The first is the PCE figures for July which will come out on August 26. Given that PCE is the Fed’s favorite inflation number, a high reading here could cause markets to crash in anticipation of an aggressive hike.”

Guy says the second wild card is the 2nd quarter gross domestic product (GDP) which is due at the end of this month.

“The second wild card is actually scheduled for the same day, and it is the revised Q2 GDP numbers that will also be published on August 26. Circle it in red, folks.

If these GDP numbers are revised up, meaning the US is no longer in a technical recession, this could encourage the Fed to raise interest rates even more.

Next is the annual Jackson Hole Economic Symposium where prominent personalities in central banking and other sectors discuss global economic issues.

“The third wild card to watch out for also takes place at the end of August and that is the Jackson Hole Symposium, which will take place between August 25th and 27th. For those who don’t know, the Jackson Hole Symposium is a central bank conference, and the overlap of this conference and the two statistics I just mentioned means that we’re likely to get some kind of reaction from Jerome in real time.”

He says that the outcome of PCE, BNP and the Jackson Hole Symposium may influence the decisions of US Federal Reserve Chairman Jerome Powell, which will have a pervasive effect on the crypto market.

“If the stats are bad and Jerome is crazy, the crypto market will be sad. Then again, if Jerome is serious about not giving any further guidance, then he can keep his thoughts to himself long enough for the crypto market to continue its recovery rally led by the only Ethereum.”

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