Welcome to Issue #47 of Wealth Mastery
DOWNLOAD THIS ISSUE AS A PDF HERE
In this issue:
I have some information for you on what you can diversify your portfolio into to help you ride out the crypto storms. I also share why it is important to have some dry powder on hand at all times.
The team from Splyt join us to discuss how they are using NFT technology in ecommerce.
Rekt Capital breaks down the current market correction to the famous March 2020 crash.
Defi Dad has a tool for you that allows you to automatically dollar cost average into positions.
Jesse has a report on decentralized exchange player Polka Dex which will be an early mover in the Polka Dot based DEX space.
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
The last week has been intense. For some it has been a max pain scenario with margin calls, panic selling, and sleepless nights. For others it has been an incredible opportunity to add to long term positions at a significant discount. Such events are rare in crypto so congratulations on surviving the worst market event in recent times for crypto. There will be more days like these in the future, and we are not out of the woods yet. But if you had the mental strength to make it through this then well done to you!
The biggest thing spooking the market this week is China Ban 2.0, literally the second announcement in a week from Chinese authorities regarding a crackdown on crypto. The second announcement was in particular directed at miners using coal energy to mine Bitcoin. This will inevitably lead to some Chinese miners needing to leave China for “greener” energy pastures. Sichuan province produces a huge amount of hydro power, but it is not infinite. There has already been an exodus of miners over the last few to Kazakhstan, Iran, Uzbekistan, and Russia. All of these countries are fine with Bitcoin mining at a regulatory level, and have the advantage of being close to China. Two even have land borders.
I know, I say it all the time, BUT taking profits is a key habit to learn in this market. I regularly carve off percentages of coins on massive pumps. This means I always have cash on hand to buy dips, but also means that I am massively reducing my risk. Your perspective changes massively when you get your capital out. Then you are simply riding a worry-free moon bag that will either be worth more or less money when you sell. HERE is a video I made on the topic some months ago if you need a little more info on this topic.
Diversification
Aside from my strong conviction in my cryptocurrency investments, another thing that keeps me mega chill during massive…
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.
