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State of the Crypto Market Cap Crash - Summer of 2022
Manage episode 335930497 series 2095096
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.
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