Market Outlook: Kaspa Awaits Smart Contracts, Bitcoin Waits for the Fed

KASPA
I previously mentioned that smart contracts were promised for August 31st, but they haven't been released yet. The developers say the delay is just for a few more final tests. Good news is, it's a delay of days, not months, and they plan to launch in September. However, this news, combined with a slight drop in BTC, caused KAS's price to dip a bit.

My futures position opened at 0.08609, which I've written about before, is still open. Honestly, I was really tempted to close it when the price hit 0.1 in the mid of August. But I decided then that I wanted to wait for the smart contracts to actually launch, thinking there was still plenty of room for more growth. My plan to wait fo SC hasn't really changed; I'm still waiting for the launch, and then I'll decide what to do with my position.

Just looking at the chart, even as an amateur, it's clear the price range is getting tighter. We're definitely in a triangle pattern, and a big move should happen eventually. So, we wait.

BTC
Historically, August and September are weak months for Bitcoin, and this year is no different. It's worth remembering that we're still not that far from its all-time high, and we've been in this range for a while. Trading volumes and volatility are way down, and it feels like everyone is waiting for the Fed's interest rate decision in September.

The big questions are: how much will they cut, and what will their comments be? US inflation data could also really influence the market's mood and direction. Plus, there's the looming expectation of Bitcoin's bearish cycle, which adds to the uncertainty and makes people consider taking profits. Despite all this, I'm sticking to my long-term strategy.

Originally posted in Telegram channel.