State of the Crypto Market Cap Crash - Summer of 2022
02/13/23 • 15 min
In this episode, we go over the State of the Crypto Market Cap and why the Crypto market has crashed! What does this mean for you as a trader?
Maybe you’re among the nearly half of Millennials and Gen X investors who said it would “take a miracle” to retire. You’re worried about skyrocketing public debt, not-so-transitory inflation, and what happens when we finally experience a hike in interest rates.
For you, crypto is a life raft. Maybe you’re one of the 70% of Americans who disapprove of Congress and no longer trust policymakers to do the right thing given that they spend recklessly and insider trade with impunity.
Of course, you could just be into crypto for the fast money, memes, and jpegs. That’s cool, too.
Whether you’re here as a missionary or a mercenary, you’ll find that one of the primary unifying forces behind this movement is the belief that decentralized technologies with embedded financial incentives (a good shorthand for Web3) offer a compelling, often lucrative, alternative to our decaying legacy institutions.
That brings me to my first prediction for 2022: things will get worse before they get better in the “real” world. Inflation will remain above 5% throughout 2022 (70% confidence), while late year interest rate hikes stall the stock market’s momentum and hurt growth stocks (60% confidence the S&P dips next year). That will be good for crypto short-term, but risky in the medium-term, as more crypto companies and their users get de-platformed and censorship from western tech and banking platforms accelerates amidst the Biden administration’s crypto crackdown.
Want to learn more and get started TODAY? Join our InPenny Stock University to master the craft of Cryptocurrency and Altcoin trading.
If you are interested in cryptocurrency, this step-by-step guide will help you get started. Here are some tips you can be successful with trading crypto.
Hope you enjoy this podcast! If you have any questions, then contact me at [email protected] or check our free trading course. https://www.inpennystock.com/
If you liked the episode, please leave a review and any reviews given will get a FREE CRYPTO COURSE if you email us with proof at [email protected]
Learn more about your ad choices. Visit megaphone.fm/adchoices
In this episode, we go over the State of the Crypto Market Cap and why the Crypto market has crashed! What does this mean for you as a trader?
Maybe you’re among the nearly half of Millennials and Gen X investors who said it would “take a miracle” to retire. You’re worried about skyrocketing public debt, not-so-transitory inflation, and what happens when we finally experience a hike in interest rates.
For you, crypto is a life raft. Maybe you’re one of the 70% of Americans who disapprove of Congress and no longer trust policymakers to do the right thing given that they spend recklessly and insider trade with impunity.
Of course, you could just be into crypto for the fast money, memes, and jpegs. That’s cool, too.
Whether you’re here as a missionary or a mercenary, you’ll find that one of the primary unifying forces behind this movement is the belief that decentralized technologies with embedded financial incentives (a good shorthand for Web3) offer a compelling, often lucrative, alternative to our decaying legacy institutions.
That brings me to my first prediction for 2022: things will get worse before they get better in the “real” world. Inflation will remain above 5% throughout 2022 (70% confidence), while late year interest rate hikes stall the stock market’s momentum and hurt growth stocks (60% confidence the S&P dips next year). That will be good for crypto short-term, but risky in the medium-term, as more crypto companies and their users get de-platformed and censorship from western tech and banking platforms accelerates amidst the Biden administration’s crypto crackdown.
Want to learn more and get started TODAY? Join our InPenny Stock University to master the craft of Cryptocurrency and Altcoin trading.
If you are interested in cryptocurrency, this step-by-step guide will help you get started. Here are some tips you can be successful with trading crypto.
Hope you enjoy this podcast! If you have any questions, then contact me at [email protected] or check our free trading course. https://www.inpennystock.com/
If you liked the episode, please leave a review and any reviews given will get a FREE CRYPTO COURSE if you email us with proof at [email protected]
Learn more about your ad choices. Visit megaphone.fm/adchoices
Previous Episode
How SBF Lost $30 Billion in 1 Week - The Fall of Sam Bankman-Fried and 130 Companies Bankrupting at Once
How SBF Lost $30 Billion in 1 Week - The Fall of Sam Bankman Fried and 130 Companies Bankrupting at Once - Learn about how SBF (Sam Bankman-Fried) helped stand up the entire Crypto market and then collapse it in 1 full sweep - bankrupting 130+ companies at the same time.
In late 2019, Sam Bankman-Fried (SBF) was one of the most well-known and respected figures in the cryptocurrency industry. He was the CEO of FTX, a successful cryptocurrency derivatives exchange, and also ran Alameda Research, one of the largest and most successful crypto trading firms.
However, in 2022, SBF files for bankruptcy, and FTX is forced to shut down. So, what happened?
It all started with a dispute between FTX and another cryptocurrency exchange, Binance. FTX had been listing a number of “BinanceCoin Futures” contracts, which allowed users to bet on the price of BinanceCoin (BNB), the native token of the Binance exchange.
Binance objected to these contracts, and threatened to delist FTX from its platform if they did not stop offering them. FTX complied, but the damage was done. Binance had already begun to research FTX, and discovered that the exchange was using a number of questionable practices, including wash trading, spoofing, and market manipulation.
Binance delisted FTX, and the exchange’s reputation was irreparably damaged. FTX lost a lot of users, and their trading volume dropped dramatically. SBF was forced to sell Alameda Research to cover FTX’s losses, and in 2022, FTX was shut down and SBF declared bankruptcy.
It’s a cautionary tale of how quickly things can change in the cryptocurrency industry, and how even the most successful companies can fall victim to bad publicity and regulation.
Learn more about your ad choices. Visit megaphone.fm/adchoices
Next Episode
Penny Stock Trading in 2023 - Guide for Beginners
In this episode, learn what a penny stock is and how you can use it to your advantage to trade profitably as a beginner. (Note, this is our first AI generated podcast!)
Let us know what you think at [email protected] or text us at 516-417-4941
Learn more about your ad choices. Visit megaphone.fm/adchoices
If you like this episode you’ll love
Episode Comments
Generate a badge
Get a badge for your website that links back to this episode
<a href="https://goodpods.com/podcasts/in-penny-stock-how-to-trade-bitcoin-and-crypto-altcoins-from-an-ex-sto-24351/state-of-the-crypto-market-cap-crash-summer-of-2022-22372213"> <img src="https://storage.googleapis.com/goodpods-images-bucket/badges/generic-badge-1.svg" alt="listen to state of the crypto market cap crash - summer of 2022 on goodpods" style="width: 225px" /> </a>
Copy