Hey Guys,
It's been another wild week in the crypto market, and I'm sure you're all sick of hearing about Terra by now. That's why I kept my Terra tirade to a minimum this week's crypto review.
It's also because I'll be doing an in depth video on what exactly went down later this week once the dust has settled a bit more.
Although Terra is certainly to blame for many of the troubles in the crypto market, it is certainly not the only factor. Liquidations, stock market sell offs in response to inflation, and even Bitcoin miner capitulation are arguably playing a much larger role. It's crazy to think that it's been 7 weeks of sell off in the crypto market.
While I am hopeful that we will see a recovery rally soon, I don't see to many signs that one is headed our way. The macro environment is bearish as can be, but that has historically been a good indicator that a short term reversal is imminent.
I suppose we will just have to wait and see. Hang tight crypto friends, it'll be alright in the end.
Enjoy!
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⛓️ 🔗 Useful Links 🔗 ⛓️
► How Terra Collapsed: https://decrypt.co/100402/how-terra-u…
► April CPI Print: https://www.cnbc.com/2022/05/11/cpi-a…
► Australian Crypto ETFs Get Low Volume: https://www.coindesk.com/business/202…
► Chainalysis Raises 170 Million: https://decrypt.co/100027/crypto-anal…
► Elon Puts Twitter Deal On Hold: https://decrypt.co/100297/twitter-sha…
► MakerDAO Rallies: https://decrypt.co/100038/maker-explo…
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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.
