Crypto News: Polygon, ETH, Evergrande, Crypto CEOs & MORE!!
Hey Guys,
Hope you all had a great weekend! It's Monday again, and that means its time for another weekly crypto review. This episode is especially important, because there last week's developments could have a huge impact on the crypto market this week.
The most significant is the inflation figures for November which hit a 40 year high in the United States. Official inflation is now close to 7%, and this could mean that the Federal Reserve will accelerate their taper - reduce money printing and increase interest rates.
Funny enough, the Federal Reserve is scheduled to reveal its plans this Wednesday, and so far it looks like the stock market is calling their bluff. They know the Fed is between a rock and a hard place.
Evergrande also finally defaulted on their debt, at least according to Fitch Ratings. The Chinese government seems to be scrambling to contain the collapse by doing things such as lowering the reserve ratio for banks so they can pump billions into the economy.
Although this has yet to impact the stock market or the crypto market, it's likely that it will at some point, especially if it turns out that USDT is exposed to any of its collateral. This depends on whether the Chinese government can successfully contain or curtail the collapse.
These two factors are a big part of why the crypto market has been fearful over the last week, but fundamental and technical factors suggest we could see a reversal later this week.
Be sure to stick around until the end to get my analysis of what comes next!
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⛓️ 🔗 Useful Links 🔗 ⛓️
► AWS Outage Affects Crypto: https://beincrypto.com/coinbase-binan...
► Ethereum 2.0 Roadmap: https://cointelegraph.com/news/vitali...
► Polygon Purchases Mir: https://www.coindesk.com/business/202...
► Opensea IPO Dilemma: https://cointelegraph.com/news/opense...
► Crypto CEOs Testify: https://cointelegraph.com/news/crypto...
► Japan Stablecoin Ban: https://cointelegraph.com/news/japan-...
► Whastapp, Novi, Paxos Partnership: https://cointelegraph.com/news/whatsa...
► Myanmar Recognizes USDT As National Currency: https://ambcrypto.com/myanmars-govern...
► Evergrande Officially Defaults: https://www.bloomberg.com/news/articl...
► Inflation Off The Charts: https://www.cnbc.com/2021/12/09/inves...
► CPI Adjustment In January: https://www.zerohedge.com/markets/and...
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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.
