The Week Ahead: 5 Must-Watch Events in the Bitcoin and Crypto Space to Make Better Investment Decisions

• This week in the world of Bitcoin and cryptocurrencies brings five significant events.

• The awaited decision on a Bitcoin Spot ETF is approaching, along with the Grayscale vs. SEC case outcome. 

From the ongoing struggle to approve a Bitcoin Spot ETF and the intricate interplay of political and macroeconomic forces in the cryptocurrency realm. To the introduction of groundbreaking platforms and technological advancements, the upcoming week remains densely populated with significant occurrences. Here is a deep exploration of the five pivotal events that demand your consideration on this week’s schedule within Bitcoin and the cryptocurrency sphere.

Event 1: Potential Bitcoin Spot ETF Verdict on Tuesday or Friday

The cryptocurrency community widely acknowledges the eagerly awaited decision regarding a Bitcoin spot ETF as a powerful catalyst capable of igniting a renewed bullish trajectory in Bitcoin and cryptocurrencies. Industry giants such as BlackRock and Fidelity have scheduled their pronouncement for September 2nd.

A decision pertaining to the Grayscale vs. SEC case, which revolves around the transformation of the Grayscale Bitcoin Trust (GBTC) into a spot ETF, could be unveiled on any Tuesday or Friday at 11 am EST, coinciding with the release of new judgments by the Court of Appeals.

Nate Geraci, the President of ETF Store and a co-Founder at the ETF Institute, conveyed via a recent tweet that the forthcoming fortnight holds the potential for being remarkably captivating within the narrative of the spot Bitcoin ETF. There exists a conceivable prospect of a verdict emerging from the legal dispute involving Grayscale. 

My understanding is SEC will have period of time to petition for rehearing, both to DC Court and/or Supreme Court…

Appeal is unlikely, but they could just sit on hands during that period (thus impacting language in any delay decision & timing of all of this in general).

— Nate Geraci (@NateGeraci) August 21, 2023

Coupled with the imperative requirement for the SEC to make a determinative choice encompassing approval, rejection, or postponement regarding a series of applications, BlackRock’s submission is among them. The chronological alignment is particularly noteworthy, given the strong probability of the Grayscale lawsuit judgment preceding the SEC’s verdict, as underscored by Geraci’s insights.

Geraci anticipates that the SEC might postpone their determinations regarding the spot Bitcoin ETF following a recent instance where they employed a similar delay tactic with ARK Invest. Nonetheless, the Grayscale lawsuit looms as a potential disruptor in this scenario. Scott Johnsson, a legal expert in finance affiliated with Davis Polk, underscored the pivotal nature of this case by highlighting its current status in the appellate court.“The only place left to go is SCOTUS, and not sure this SEC wants to even think about that option.”

Event 2: Wednesday’s Inaugural US Republican Debate

With the pivotal decision for the next President of the United States slated for November 2024, a choice laden with potential ramifications for the forthcoming Bitcoin and cryptocurrency bull run, the spotlight now turns to the first US Republican debate scheduled for Wednesday.

Although the official voting day is circled on the calendar for November 5, 2024, an array of American politicians have already entered the arena, sparking discussions revolving around BTC and cryptocurrencies. 

Notably absent from the forthcoming debate will be former US president Donald Trump, who has announced his decision to forego the event in favor of an interview with Tucker Carlson. Nonetheless, the debate holds the promise of captivating the attention of the Bitcoin and crypto domain.

Recently, it came to light that Trump harbors a concealed trove of Ethereum (ETH), adding an unexpected twist. Amid the field of US Republican presidential contenders, many align themselves with Bitcoin and cryptocurrencies. The audience’s vigilant gaze will focus on figures like Francis Suarez, a Bitcoin advocate, along with Vivek Ramaswamy and Ron DeSantis, aiming to determine if they will guide the discourse toward the cryptocurrency domain throughout the debate.

Event 3: Friday’s Appearance of Fed Chair Powell at Jackson Hole

This Friday, the annual Jackson Hole symposium will once again command attention as it shapes discussions on monetary policy. The eagerly awaited speech by Jerome Powell, the Chair of the Federal Reserve (Fed), holds special significance on this week’s calendar, especially due to the extended interval between the Fed meetings in July and September.

Since the previous meeting, crucial economic indicators—such as the Consumer Price Index (CPI), Producer Price Index (PPI), and employment statistics—have emerged. These indicators have the potential to provide insights into Jerome Powell’s evolving position on monetary policy.

Event 4: Anticipated Unveiling of RUNE’s Offerings

THORChain is gearing up to present its novel lending function on Tuesday, promptly succeeded by the unveiling of Stable Savers on Thursday. As historical patterns suggest, when RUNE encounters an upsurge, the movement is quite noticeable, but its descents are correspondingly abrupt. Investors are advised to scrutinise the newly launched lending feature’s performance metrics, as it might incite a market reaction akin to the ‘sell-the-news’ phenomenon.

Event 5: Revival Efforts for Shibarium?

The abrupt suspension of Shibarium shortly after its launch, a consequence of an overwhelming influx of users, has dealt a severe blow to Shiba Inu’s (SHIB) value, resulting in a significant decline in its price trajectory. In the latest communication on Saturday, Shytoshi Kusama, the lead developer of SHIB, conveyed substantial advancements in enhancing the’s scalability of Shibarium.

The blockchain was initiated anew on Saturday, albeit in a restricted, private mode. Upon completing this testing phase, a subsequent attempt will see Shibarium relaunched to the public again. The forthcoming developments will determine whether SHIB encounters another surge of widespread enthusiasm akin to the initial launch.

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