EddieJayonCrypto
12 Jun 22
• We already know he Fed is going to raise rates by 50 basis points, but…• Amex is going to launch a crypto rewards card• Peter Schiff thinks more people will dump Bitcoin and some Bitcoin firms will go bankrupt• Coinbase CEO disses employees saying their anonymous petition to oust some of the C-sui...
• We already know he Fed is going to raise rates by 50 basis points, but…• Amex is going to launch a crypto rewards card• Peter Schiff thinks more people will dump Bitcoin and some Bitcoin firms will go bankrupt• Coinbase CEO disses employees saying their anonymous petition to oust some of the C-suite is "really dumb on multiple levels"The coming week is going to be not so good and I expect some more downward movement. Here is what is on my mind this week1. We already know he Fed is going to raise rates by 50 basis points. That is already baked in and not the issue. The issue is what comes out in the minutes. It is possible they could become more hawkish and say the next raise will be 75 basis points. I am not expecting an upfront announcement that is coming, but I think it is possible for them to come out with putting it back on the table. 2. Amex is going to launch a credit card with crypto rewards. This is crazy cool and is definitely a look forward. People ask how would they accumulate crypto to use besides buying some. Well, here you go. 3. Peter Schiff is saying as inflation rises people will sell more Bitcoin. Just as everyone else is saying Bitcoin is what to have in this kind of market. Interesting. He took it a step further saying he expects some BTC firm to go bankrupt. Even more interesting when you see whales making more buys via OTC so they do not move the market. 4. Coinbase CEO, Brian Armstrong, called an anonymous petition call for the ouster of their Chief Operating Officer, Chief Product Officer and Chief People Officer, "really dumb on multiple levels". Way to show you care about what your employees are thinking. That was an outright dis.