Hey Guys,
Would you believe me if I told you that crypto just saw it’s second week of green?
I know, I can’t believe it either, but it happened. It’s quite possible that we’ll see another green week but it’s important to remember that there’s no such thing as up only.
Besides all the macro factors I’m sure you’re all familiar with, the crypto specific factor that’s really carrying the markets these days is Ethereum’s upcoming transition from proof of work to proof of stake. We could see Ethereum’s final merge test net begin later this week which is crazy, and it’s even crazier when you realise the merge is just 6 weeks (or so) away!
As amazing as this all is, it’s important to remember the backdrop. Not only are all the bad macro factors still around, but we’re starting to see some concerning crypto specific factors take hold. Most of these have to do with regulations, and it looks like the regulators are only getting started. Too bad they can’t find the crypto talent they need.
Stay tuned until the end to figure out what that means!
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โ๏ธ ๐ Useful Links ๐ โ๏ธ
โบ Crypto Recovery: https://www.cnbc.com/2022/07/29/bitco…
โบ Ethereum Goerli Testnet: https://www.theblock.co/post/160112/e…
โบ Solana Store Opens: https://cointelegraph.com/news/solana…
โบ Kraken Sanctions Violations Accusations: https://www.nytimes.com/2022/07/26/te…
โบ Banking Regulator Admits Canโt Hire Crypto Talent: https://www.coindesk.com/policy/2022/…
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๐ Disclaimer ๐
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.
