Welcome to Issue #38 of Wealth Mastery
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In this issue:
I discuss when the best time to enter a new listing is.
I explore whether or not NFTs are in a bubble.
Defi Dad has a tutorial on how to earn 105% APR with almost zero gas fees.
Rekt Capital has a great report looking at how Bitcoin typically behaves in the second quarter.
The team from the very buzzy Ethernity joins us for an AMA!
Jesse has a report on the much hyped Zero Exchange, if you are considering investing then definitely read this first!
A quick reminder that all research and market analysis is provided for educational and informational purposes, and should not be considered as financial advice. You are ultimately responsible for your investments and trades, and they should only ever be entered by those who understand the risks, are willing to lose their entire investment, and properly understand how to manage their risk.
Also, every issue will contain more information, tips, hints, and analysis than you can make use of. Wealth Mastery is a tool, you are the craftsman. We are not a signal or pump group, we are a tool shop, you decide what information shared here has value to you or not.
As always, feel free to reach out to me by responding to this email with comments or questions.
The Big Recap
Bitcoin is currently going through a consolidation period struggling to reach a new high, but as we all know Bitcoin is not the only show in town. Lots of altcoins have been doing well. For example, Theta Network smashed to new highs this week in a very dramatic pump. Bitcoin remains the slowest and safest horse in the crypto game. Altcoins are the money makers.
We have not had any big announcements this week from new big institutional buyers, but outflows from exchanges for Bitcoin have been significant with more than 50,000 BTC pulled from exchanges on Tuesday. I am starting to feel like this is the calm before the storm. We are now reaching the end of a very, very eventful Q1, I suspect Q2 will have a lot of surprises in store for us!
Tesla announced that they will now be accepting Bitcoin in exchange for cars. They also said they plan on keeping any Bitcoin acquired from car sales. Tesla has also said that they are running Bitcoin nodes to help support the network.
Fidelity has announced that they will be filing for a Bitcoin ETF. They join a long list of high-quality applications from companies like Grayscale and Van Eck
One the defi front Uniswap has announced their long awaited V3 upgrade which is great. However, the upgrade will not immediately address fees with a further update to implement the Ethereum layer two scaling solution called Optimism planned. On May 5th Uni V3 will launch with most of the upgrades focused on increasing returns for liquidity providers. This combined with major upgrades across the defi ecosystem like Balancer V2 and Kyber V3 makes me think that the next major defi cycle will be coming in the next few months.
NFT Bubble?
Are NFTs in a bubble? I am already starting to see this talking point bantered around. My answer is no. Although someone did just launch tulip NFTs which is a very cheeky reminder of the tulip mania bubble in The Netherlands in the 1600’s when the price of one tulip got as high as a house. But we are not yet near a blow off top for NFTs….
