In This Issue
- My latest portfolio updates.
- Jesse has a deep dive for you on PancakeSwap.
- David compares Synthetix and UMA, two synthetic asset platforms on Ethereum.
- Sam has a report for you on big brands & NFTs
- Rebecca breaks down this week’s trending coins.
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.
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Buy, trade, and hold 600+ cryptocurrencies on Binance
Lark’s Portfolio
This Week’s Moves
I bought some more Bitcoin at $20,670, and all my buy orders from 18k to 16k filled.
I received some EFI from my venture investment. I am holding it for now. I also received some GMT and sold it. The profits from which will be moved out of the crypto market.
Been in and out of a few short-term MATIC shorts and longs. Made some profits, but missed the big move up by moving my stop loss too close. It stopped out in profit, but it could have been much bigger had I played it looser.
No One Knows
This chart is not for some some random shitcoin or dog coin meme, it is for a company called Carvana which is a company dealing in used cars that is down 97% from its all-time-high.
Less than a year ago Morgan Stanley analysts were calling for this stock to go up to $420, now they are calling for it to go to $1. This is not a dig at the Morgan Stanley analysts though, predicting the ins and outs of the used car market a year in advance is tricky business.
The point though is that we are all just guessing. The more data, charts and models you have on hand the better your guessing becomes. But it is still just guessing.
Also keep in mind that if I were to for example make a tweet saying “Bitcoin will end the year at $30,000” that there would be people who think something else. Bitcoin is going to $10,000. Bitcoin is going to $40,000. Bitcoin will end the year at $20,000. And they will be making those statements with utter conviction that they are indeed correct. And in the end someone will be right, or at least close, but not everyone will be right. They can’t be.
Plus, who the hell really saw the FTX collapse as a likely scenario in 2022? This market remains super high risk. I mean, imagine if the New York Stock Exchange went bust? That is the crypto equivalent of what just happened. Again, no one knows.
But it underlines the reality of markets. You are alone in your decisions. No one can make your decisions for you, because no one truly knows what is going to happen.
So many people will get obsessed with “timing the bottom”, but you don’t need to do that to make money in the next bull run. Dollar cost averaging now or waiting for a reversal are both good plays in the current conditions. Macro is still largely shit, but won’t be forever.
Another bull run will come for crypto, the only question is when, and if you will be ready to make the decisions necessary both now and then to make it big.
The bear market is a gift. The bear market buyers stand a much better chance at massive wealth creation in the next bull run. It also gives you a chance to regroup and to educate yourself as much as possible on the markets before things get hot…
