What will June bring for crypto? ⛱️
It’s June, y’all.
Pool szn is here and we’re halfway to Christmas. Get hyped.
There’s more than 1 reason to relax with a pina colada right now… and a few reasons not to.
Let’s start with the bad news…
1/ June has been a red month for BTC & ETH in recent years
Last June was Bitcoin’s worst month in a decade. Inflation, high interest rates, & low market liquidity will do that to ya.
So will this June s u c k too? We hate to break it to you, but there’s 1 key factor that might make that the case…
2/ Interest rate hikes
AKA the only term scarier than “we need to talk.”
The Fed might vote to raise them in mid-June. Threat of higher federal interest rates = less likely people are to buy risky assets (like crypto/BTC.)
Womp womp.
But on to the good news!
3/ Apple might launch its VR headset at its annual conference next week
This headset could be a total gamechanger. And people think it could send metaverse tokens booming, too.
Decentraland & Sandbox’s native tokens surged in January because of the headset rumors.
But they might need more than just a tech heavyweight-made VR product to take off: actual metaverse mass adoption (that’s waaaay off.)
4/ Hong Kong started letting retail investors buy/sell crypto today
Time to celebrate 🍾
Why? Because ~7.4M more people being able to trade crypto is like your buddy showing up with a 24 pack of beer for mass adoption - it swings that door wide open.
It’s also a win since China has been so iffy about how to (or if it would) welcome crypto. Hong Kong’s move could expand throughout China, too.
#june2023 #cryptopmyoutube #feedfeverchallenge #BTC #BinanceTournament
