Welcome to Issue #62 of Wealth Mastery
DOWNLOAD THIS ISSUE AS A PDF HERE
In this issue:
I share some potentially undervalued coins that I am watching now.
Hashoshi dives into the world of generative art.
Jesse has a report for you on the very buzzy Moon River.
The team from Loop Ring join us to discuss their layer two scaling solutions.
Rekt Capital breaks down what is happening with Bitcoin.
Defi Dad has a tutorial for you on how to earn up to 182% with Bitcoin on Solana!
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
Volatility is back on the menu. I am reminded of the old saying volatility is the price you pay for performance. Well, that sums up crypto pretty well. As so often happens when things start moving down, there is a quick cascade as leveraged traders get washed out.
Thus, there is a reason I keep bids in at lower levels for bags I want to add to, because sometimes I am sleeping when market crashes happen. I got my orders filled on Polka Dot and Elrond yesterday. I just missed getting my orders filled for Bitcoin. I deployed a few percent of my cash holdings to do so. I still have a huge bag of stablecoins to buy lower if the market gives such opportunities. I am also using those stables to farm so winning while being patient.
Putting in “stink bids”, that is to say orders are really low-price points in crypto can be a good idea. I am not saying putting an order in at 90% below the current price, but 20% under can sometimes get filled as happened for many traders this week. Generally, your targets should be at key areas of support. So even if the market is pumping and you think you will never see that support at $42,500 tested again, well the market often proves otherwise. Single daily candle drops of 15-30% happen once every few months.
Solana season is in full swing with loads of Solana applications trending as the main Solana asset continues to hit new all-time highs. Solana tokens are also trending with 7 of the top 15 coins this week in the trending category based on Solana.
The SEC has announced it is going after Uniswap. This is a pretty big shot across the bow for crypto. Uniswap is the biggest decentralized exchange and it is an integral part of the crypto ecosystem. Not that the SEC can shut it down, but they can bring charges against developers and force more innovation away from the USA. CEO of Coinbase Brian Armstrong wrote a great thread on the recent SEC shake down of Coinbase which you can read HERE.
Over on the NFT scene we see a slowdown in many collections. For example, both Crypto Punks and Meebits are down 50% this week. But don’t…
