In This Issue
- I share my thoughts on the state of the market, melt up theory, regulations are coming, projects are moving to Aptos, Layer 2s, another exit scam from Freeway, Dogechain burns & Axelar teams up with polygon.
- Rekt Capital has the latest technical analysis for you on the market.
- Erik has a report for you on MEV.
- Defi Dad has a tutorial for you on how to earn 11.4% APY lending wstETH to Gearbox v2 borrowers.
- Jesse has a ton of hot new airdrops for you.
- Hot new token sales.
- Rebecca has all of the latest news for you.
For any crypto related questions please comment on the website.
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Buy, trade, and hold 600+ cryptocurrencies on Binance
What’s On My Mind by Lark
The State of the Market
At the time of writing Bitcoin was staging a breakout beyond $21,400, which represents the top of the range that we have been stuck in for 6 weeks. Volume is looking decent as well. If we get follow through here then we could see a decent bear market rally forming up.
I always love a good market pump. Green days just make everyone happier. Just remember, this is a bear market rally until proven otherwise. Bear market rallies have a way of making you believe that the bull market is back on and gets you to chase the pumps and buy high before the inevitable correction.
Don’t forget in crypto that Satoshi giveth and Satoshi taketh!
I am looking for a break out over 25k before really saying that a market reversal is on. This would get us past key resistance and break us past the downtrend line that has been forming since November 2021.
That being said, there can be a lot of profitable moves in a bear market rally for traders and those who might want to lighten up some bags.
Melt Up Theory
“A melt-up is a sudden, persistent rise in the price of a security or market, often due to investor herding. Melt ups are not necessarily indicative of a fundamental shift and may reflect market psychology instead.”
That is the definition of a melt up. We are already starting to see some pundits calling for a big fat end of year melt up. This could see an across the board bear market rally for crypto and stocks.
To be clear, the macro fundamentals have not really changed. Things remain rough across the board in basically every market. But, bear market rallies do happen. When they do they can be pretty big.
This is all predicated on a potential pivot from the FED. On Friday last week rumors started to spread that the next 0.75% rate hike in November will be the last at that level and that subsequent hikes will be lower.
This is the kind of hopium that markets want right now. However many at the FED have said that 5% interest rates could be the end goal. Which is another 2% higher.
Regulations Are Coming
Over the last week, social media has been abuzz with regulations proposed by Sam Bankman Fried, the CEO of FTX. A man who has considerable influence having spent 10s of millions lobbying politicians and even more money getting people like Bill Clinton to keynote his conference. Translation – Sam has the money and connections to make people listen.
Anyway, let’s discuss.
His key points are:
- The industry needs regulatory oversight…
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.
