Hey Guys,
It's been one hell of a week in the crypto market, and I'm here, as always, to break it all down for you.
The name of the game is the same as it's been since last November: macro. All eyes are on the Fed's upcoming interest rate hike which is expected to be 0.75%. Anything higher could result in a crash across the board.
Another factor everyone is watching is all the big tech earnings that are coming out this week. Microsoft, Google, Meta, Apple, and Amazon will all be releasing their Q2 numbers, and it looks like they could be very bad. As you know, crypto is highly correlated to tech stocks, so this is one hell of a minefield.
Last but not least we have the GDP figures for Q2 in the United States that will be released this Thursday. If the print is negative, then it means the US is technically in a recession, and it's not entirely clear how the crypto market could react. If we somehow manage to survive all of these hurdles, crypto will continue it's recovery rally.
This is really the tip of the iceberg of what I cover today.
No exaggeration, this might be one of the most important weekly reviews I've done to date, so don't you dare miss it and make sure to watch until the very end!
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⛓️ 🔗 Useful Links 🔗 ⛓️
► Fed Confirms 75 BPS Rate Hike: https://www.wsj.com/articles/fed-offi…
► Tesla Sells 75% Of Its BTC Holdings: https://cointelegraph.com/news/breaki…
► Vitalik Buterin Explains What Happens After Merge: https://decrypt.co/105707/ethereum-me…
► Jed McCaleb Finishes Selling XRP: https://cointelegraph.com/news/jed-mc…
► SEC Calls 9 Cryptos Securities: https://cointelegraph.com/news/sec-li…
► Celsius Mining Recovery Plan: https://www.coindesk.com/policy/2022/…
► India Calls For Global Crypto Crackdown: https://www.coindesk.com/policy/2022/…
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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.
