In This Issue
- I share my thoughts on the state of the market, the Fed meeting, big tech crushed, grain exports halted again, Bitcoin miner capitulation, art gobblers, dogecoin mega rally & new alt coin season.
- Rekt Capital has the latest technical analysis for you on the market.
- Erik has a report for you on how Flashbots works.
- Defi Dad has a tutorial for you on how to find delta neutral strategies earning Over 50% APY with DeFiLlama.
- 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.
For any support related issues please visit wealthmastery.io and click the bouncing blue circle in the bottom right corner.
👉 DOWNLOAD THIS ISSUE AS A PDF HERE 👈
Buy, trade, and hold 600+ cryptocurrencies on Binance
What’s On My Mind by Lark
The State of the Market
Well, what a crazy damn week!
Lots of bullish price action as people started speculating on a possible FED pivot. Dogecoin popped up due to Elon again. Then today the FED smashed everyone’s hopes into a million pieces! Crypto man… I love it!
Now we all get to worry about the CPI data release next week and how that will affect markets.
The volatility recently has been great for traders. For long term investors buying during the bear market will prove wise with time. But, a lot of uncertainty remains heading into the end of the year.
The Fed Meeting
Jerome Powell announced another 0.75% interest rate hike today which the market had been anticipating.
Initially we saw markets rallying on the back of basically getting what we had expected from the FED. However, he then said that “ultimate level of rates will be higher than previously expected”. Meaning that rate hikes could go on for longer than we expect even if the size of them slows down, and that the final target previously said to be 5% could be higher.
This was enough to catch the markets off guard and see prices fall for assets across the board.
That being said, rates will slow and stop in the near future. Powell even said that the time to slow rates may come as soon as the next meeting on December 16th. #silverlining
Big Tech Crushed
It has been one hell of a year for big tech companies, and ETFs like Ark. Let’s look at Facebook which is down 75% from its all time high. That means that if you had bought Facebook stocks in January 2016 you would be back to break even… OUCH! Amazon while not down as far as Facebook did have a 20% drop last week which is pretty dramatic for a stock with over a trillion dollar market cap.
Bitcoin is down 70% from its all time high, but is only back to the same price as December 2020. Interesting perspective.
And to be clear some tech stocks are already putting in good rallies like Netflix which is up 100% off of lows. Apple is only down 15% from all time highs. So it is not all doom and gloom, but still it is crazy to see such massive companies in such turmoil.
Grain Exports Halted Again
Russia has once again halted grain exports from Ukraine via the Black Sea ports in Southern Ukraine. This was in response to strikes against their fleet in Sevastapol.
This once again creates a situation of food insecurity, and thus food price instability, and……
