For the first time in 20 years. The euro and the us dollar exchange rate rate have finally reached parity this means the two currencies are worth the same and today's video. We'll explain exactly how that happened and what the consequences are and we'll also be giving you an update on macroeconomic factors are taking a huge toll on bitcoin's price action and the overall financial markets you guys are appreciating these daily market updates be sure to like this video down below subscribe if you all jungies have not done so already and let's hop into the computer. See what's going on in the market for today all right so in yesterday's update.

We covered the upcoming cpi report well the white house went ahead and downplayed. The upcoming release of elevated inflation numbers. While we wait for the new cpi report to be released tomorrow they quote on wednesday. We have new cpi and inflation data and we expect the headline number.

Which includes gas and food to be highly elevated. Now going on to google. We have a ton of headlines just talking about the inflation data and what's gonna happen tomorrow and keep in mind usually whenever we get reports we see volatility coming amongst. The stock market and even the crypto market.

Too so just be wary of that on top of that a major gas pipeline from russia to western europe went down and was shut down for annual maintenance on monday. The scheduled maintenance is expected to last about 10 days through july 21st. And the reason. Why this here is important is because just last month.

Russia reduced the gas flow by 60 european officials are now even more concerned that the russian government will delay the maintenance or only partially return at the current gas supply this would devastate. The european economy since they receive roughly 40 of its gas supply from russian pipelines right now germany and the rest of europe are scrambling to fill gas storage in time for winter and reduce their dependence on russian energy imports germany right now is still europe's biggest economy and receives about 35 percent of its gas to power and generate electricity from russia. Now there are some talks that russia did go ahead and close out the gas pipeline because of the current war that is still ongoing in ukraine now keep in mind whenever. We have countries that are getting limited in certain supplies.

We could see the volatility arising. Even more amongst the economy to segue that into the european currency and the us dollar. We are still right now at parity for the first time in 20 years this morning. The euro.

Which is the official currency for 19. Out of 27 european union. Members. Went ahead and saw that the us dollar is now at a one to one exchange rate.

The last time this had occurred was in 2002. When the euro was just three years old and the triggers for the relative decline of the euro include the ongoing war in ukraine. Which has. Fueled a fear of an energy crunch and.

Recession as well as us. Interest. Rates. Moving sharply higher.

Pushing investor towards the dollar and from the. Euro now while inflation is bad in the us. Europeans are simultaneously being hit with that high inflation number and also now a devaluing of their currency. Because nearly half of all goods imported into the european zone are invoiced in dollars compared to less than 40 percent.

In euros. This means more euros are needed to pay for an equivalent amount of goods because their currency has now been devalued further so say you don't live in europe. How does this affect us well. It actually affects us in a lot of drastic ways one specific effect of the europeans fall against the dollar is that it's gonna dampen.

The european tourism to the us in particular now there is good news. Though because by contrast visitors to europe from the united states benefit from the exchange rate as their dollars buy them a lot more in europe than before so if anyone from the us is having any type of travel plans towards europe. Then right now you would be seeing your dollar going way further. Now going into the market data.

The us was showing a little bit fairly neutral circumstances amongst all of this pretty interesting news. Today and currently bitcoin is actually trading a bit down in the past 24 hours sitting at around the 19 800. Level. Now with all the macroeconomic fun in the world events.

Taking place in the past few days. It looks like bitcoin was unable to hold those 20 000. Levels. Once again taking a look at the four hour chart.

Bitcoin is trading below all its relevant emas. The 20. The 50 the 100 even the 200 and rsi is currently at a 32 nearing those oversold territories. Now i personally still think the second half of july can get messy for the markets.

And tomorrow. We'll finally get those inflation numbers for june july. 26. To july.

27th is going to be the next. Fomc meeting. Where we could also get another 75 basis point rate hike and on top of that on july 28th. We'll also be receiving the gdp report for quarter two which will confirm if we are still in a recession or not now most people will agree we are in a recession.

But this is going to be official news coming from our own government that yes indeed we are in that recession keep in mind that there are still substantial economic factors that are going to be pulling the price of bitcoin it's going to be throwing it around and for the next. I would even say three to six months. We could definitely expect to see a lot more volatility and i'm still not confident that the stability within the crypto markets have yet been set amidst all of this if you're asking yourself well brian. What should we be doing if you do believe in crypto long term dollar cost averaging little by little is never a bad move to make i personally think bitcoin will re test its bear market lows sometime in the next few months and at the same time.

I realize that the current price of twenty thousand dollars is a bargain in the long term vision of what bitcoin has done if we take a look back and notice that the previous crypto cycle. Really grew a lot. But it was grown on speculation. I believe the next bull run that we have is going to be even more significant because it's not going to be based on speculation.

We're going to be having a lot of companies and projects that have actually been getting built up during these bear market times to sustain us and to reaching new all time highs. The question is are you going to be ready for it or are you just going to fomo again in at the top hopefully. If you guys are watching this i want to look out for you i want to make sure you guys are set up. And just remind you guys that crypto is still a long term game dollar cost averaging allows you to have skin in the game while protecting yourself by mitigating the risk of going all in at once and i know it can be even more terrifying to want to invest into the markets during these times.

When you have talks about the recession. Inflation is still continuing to go up and you're just not sure where the future of your own finances will be held next the good news is bear market cycles are short. Lived and bull markets run harder. Unless you need the money tomorrow or you have zero emergency savings coming up or you're losing your primary source of income being able to hold through these times is going to pay out dividends and it's all about keeping the faith within these markets now real quick let's talk about voyager celsius two bigger exchanges that went ahead and had a lot of issues over the past few weeks.

Where it seems like it's driven. The markets down. Even further now since voyager declared chapter. 11.

Bankruptcy. Which was the last update. We talked about there have been customer concerns over what happens to the usd deposits that didn't convert into cryptocurrency. So in an update posted yesterday.

Voyager assured. Customers that it's indeed. Fdic insured. And the usd deposits would be returned in full pending.

A reconciliation and fraud prevention process. Now while crypto investments are different story. Because it's still not considered usd under the firm's proposed restructuring plan. It remains unclear exactly how voyager is going to refund customers for the digital assets held on their platform.

Now. I will say this is a bit of some i would say bittersweet update. But it's excellent news for voyager customers holding a significant usd position on their exchange. But i don't think things will go as planned for crypto holders.

Hopefully we'll be able to hear some more news on anyone who did have crypto and whether or not that would be insured too. But even this reconciliation process that should take you know two to four weeks. I do think they're gonna spread it out and make sure the time it takes for people to get their money is going to take a long time now on top of that we have celsius. Which has still been slowly paying off their debts.

But at the time of filming this update. You still cannot withdraw your funds from their exchange since friday. Though they have paid off an additional 95 million dollars in debt uh. We covered this it's been with ave and compound and their most recent payments to their platforms.

Celsius reclaimed another 172 million dollars of collateral. That has been locked up now in yesterday's update. We talked about how they had about 215 million dollars left they're down to 172 million. This is still a significant amount.

But hopefully as they are chipping away at this we are able to see more progressions with this exchange here. Now big news that we also need to cover is gamestop because after more than a year gamestop's long awaited ethereum nft marketplace is finally live within this bear market. So currently the marketplace. Hosts an array of artwork projects that run on the theory.

Mainnet and loop ring. Which is a layer 2. Scaling solution while the focus right now is still primarily on artwork gamestop aims to be a major player in the nft gaming space in which nfts are interactive items used within video games now to help out games long term vision of becoming the leading nft ecosystem. They also partnered with immutable x to launch a 100 million dollar.

Token grant that will bring game developers onto the marketplace now while openc and other marketplaces like even the coinbase one has been pretty disappointing or they've had an array of issues. I'm hoping that a more centralized nft marketplace is going to be able to come over and do the right job in allowing this exchange to do well do fairly and to help even avoid a lot of the issues like scams that we've seen with some of these other marketplaces now. According to dap radar. We actually got news that over the past month open seas volume.

Was still trading at about 519 million dollars magic eden. Which is solana's nft marketplace came in at second place at around 87 million dollars. And if gamestop can come in and do just even a fraction of these numbers of what openc had seen in just one month. I do think maybe there is hope that we could see some of these other companies taking over these decentralized marketplaces alrighty guys so not much crazy news really a bit more slower week.

The eyeballs are still set on what we're gonna get in terms of inflation. Reports and right now. The market hasn't been doing much either. Now.

Although things are a little bit more stagnant just keep in mind that things are still moving forward. We're still progressing throughout this year. And only time will tell exactly where we're gonna be headed next regardless even if it takes two months six months ten months even a few years. I know that crypto is gonna be back higher than it was before and we are gonna see tremendous growth happen once again within this space alright guys.

If you made it till the end of this video. Don't forget to comment down below the secret code. Word for today. And that is going to be a keyboard comment down below keyboard and on top of that if you guys have not followed me yet on instagram or twitter.

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