a) Credit card debt in the U.S. hits all-time high of $930 billion 🔥
b) US Stocks drop in double digits after earning reports come in 🔥
Amazon -20% 📉
Meta -20% 📉
Microsoft - 8% 📉
Google -9% 📉
Summary: Something devastating is brewing in traditional markets. We're afraid that incompetent Central Banks will cause liquidity crisis. We've got worst earning reports from mega corps in years, credit card debt is at all time high, inflation is in multi decade high and we've got Central banks focusing on continuation of interest rate hikes --> Right now the fastest interest rate hikes ever experianced in modern economy.
We think that all we've mentioned is a perfect formula for devastating result on traditional economy. Risk assets like crypto will follow the trend, but we believe $BTC and few other crypto's will rebound the fastest.
Incompetent Central banks will enlighten average people why money needs to be decentralised. The main component of economy shouldn't be controled by just few people, because people are corruptible beeings. Code can't be corrupted.
Crypto will come out stronger after liquidity crisis.