Hey Guys,
It's definitely been an exciting week, but don't get too excited just yet. Ask yourself: what about the macro or crypto situation has changed? Has anything suddenly become bullish? Objectively speaking, no. If anything, the outlook has gotten worse.
For starters, DCG looks like it's in serious trouble and could begin selling assets at any moment. The ever so brilliant SEC also somehow decided it was in the interest of investor protection to crack down on both Genesis and Gemini. I'm sure more are coming.
More importantly, the biggest names on Wall Street are warning that we're headed for a recession. The banks and even Blackrock have begun cutting staff in anticipation of weaker earnings. You might think this means a pivot, but not until there's been more pain.
Then, we finish off with some analysis by Benjamin Cowen.
All of that and more in today's weekly crypto review!
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⛓️ 🔗 Useful Links 🔗 ⛓️
► Almost 1B in Short Liquidations: https://beincrypto.com/crypto-market-…
► Cardano Sidechains Coming: https://cointelegraph.com/news/cardan…
► Justin Sun Offers 1B To DCG: https://www.theblock.co/post/202374/j…
► Stablecoin Collapse Could Affect US Government Debt: https://www.cnbc.com/2023/01/13/a-sta…
► JP Morgan Warns Of Recession: https://edition.cnn.com/2023/01/13/in…
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📜 Disclaimer 📜
The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speaker does not guarantee any particular outcome.
