Welcome to Issue #46 of Wealth Mastery
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In this issue:
I break down the market dump and I also share some coin categories that I think are massively over saturated.
Hashoshi shares his thoughts on the Maiar Exchange.
Rekt Capital has a great report exploring whether or not this is the end for the market.
Jesse has a report for you on the Internet Computer Dfnity a hot new entrant to the crypto market.
Defi Dad has a report for you on how to earn 900% using Fantom.
The team from Deeper Network join us to discuss their decentralized internet services.
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 your comments or questions.
The Big Recap
WOW!!! What a crazy week it has been for the markets. Bitcoin at its peak sell off yesterday reach aroudn $30,00 which was 54% below the all-time high! Most techical indicators are screaming over sold right now. The price has since recovered a bit, but we are still below the 200-day moving average, a key line in the sand, at the time of writing. These kind of extreme volatility events are very rare, so on the one hand it is a cool bit of history to experience. On the other hand, most investors are facing crippling and stomach-turning paper losses, and many will have realized those losses. The crypto market is showing its infamous extreme volatility right now.
There has also been a lot of fear, uncertainty and doubt floating around which we can largely blame for the market wide investor panic. Here are four things that rattled the markets and which are not true.
1 – Tesla sold their Bitcoin!!!! Tesla announced that they are stopping accepting payments in Bitcoin due to the environmental impact which led to a meltdown of Bitcoin maximalists on Twitter which then led to speculation that Tesla had sold its Bitcoin. Elon Musk has since confirmed that Tesla is still holding.
2 – China has banned crypto again…. except they haven’t. China has simply prohibited financial and payment apps from using crypto. So, you won’t be able to buy Bitcoin at a Chinese bank or send Bitcoin on any popular Chinese apps anytime soon. Not a big deal.
3 – Binance is in big trouble! Binance has been reported to be under investigation by US authorities for money laundering and other criminal activities. EXCEPT the reality is that Binance is working with US regulators to ensure that money laundering doesn’t happen on their platform.
4 – US Regulators are bringing the hammer down on crypto! The new head of the OCC has said that he would like to see more regulations for crypto. This is fine and normal.
So, is this the end of the bull market? I do not believe it is….
Hi! My name is Lark Davis!
I’m a cryptocurrency investor with years of experience and I’ve been making consistent profits in the crypto space.
I’m passionate about helping others do the same, so I run multiple educational channels on crypto investing.
