Hey ET Fam! Well, it seems that after a quick pump, the financial markets are continuing to tank. Of course, crypto is leading the free fall. Most of the downward spiral is in due to the job market “looking” better than the Fed anticipated it would look. It has been reported that the available jobs has nearly doubled the amount of available workers. There are approximately 11.2 million job openings.
This has given the Fed more confidence in hiking the inflation rates. However, it would be safe to suspect that this data is partly disingenuous. We know that most jobless people don’t file or qualify for unemployment. Plus, the numbers could be skewed to justify the Fed hiking the rates. Aside from that, the housing market continues to tell a different story.
All in all, there is more pain on the way. The silver lining to all of this is the buying opportunity that will come as a result of the downward movement in the charts. Those of you who are blessed enough to continue to bring in an income should keep stacking dry powder.
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DISCLAIMER: This is not financial advice! This is an entertainment and opinion-based show. I am not a financial adviser. Please only invest what you can afford to lose, and we encourage you to do your own research before investing. DYOR
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