In This Issue
- I share my thoughts on the state of the market, new crypto bill, new Bitcoin & Ethereum ETFs, GBTC buyback, Binance buys Voyager, Injective Wormhole, Illuvium Overworld & Polygon Mastercard.
- Rekt Capital has the latest technical analysis for you on the market.
- Erik has a report for you on centralized and decentralized exchanges.
- Defi Dad has a tutorial for you on how to earn up to 14% fixed APR on BarnBridge on Arbitrum.
- 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.
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Buy, trade, and hold 600+ cryptocurrencies on Binance
What’s On My Mind by Lark
The State of the Market
Stocks and thus crypto suffered a big hit after the CPI reveal and FED rate hike last week. The S&P 500 dropped 7%, and Bitcoin 12%, showing once again that Bitcoin remains highly correlated but will generally move faster compared to major stock indexes.
In other news one of the USA’s biggest Bitcoin miners, Core Scientific, has filed for bankruptcy. This is just another part of the ongoing BTC miner capitulation that we are seeing across the board as miners get washed out and only the toughest survive.
Broadly a lot of fear remains in the market. Everyone is calling for a recession and further drop in equities. Real Estate markets are still feeling the pain, and things are likely to get worse as buyers dry up. Crypto… man… crypto remains deeply screwed right now. Although I do keep hope that we will see some kind of big rally in 2023. But, overall it could be a long time before the silly, irrational, everyone is getting rich, times come back.
I am sticking with my general plan for the time being, just largely stacking cash. I am buying a little bit of BTC each week, but beyond that I am just playing it safe.
Also just a quick reminder, the best time to get your crypto off of exchanges was yesterday. The second best time is today.
Oh, and Merry Christmas!
New Crypto Bill
The Warren-Marshall bill is the latest attack on crypto. Coin Center has even gone so far as to call it the greatest legislative threat to crypto ever.
The bill would bring back to the conversation, something that has long been threatened. Which is KYC on everything. KYC for wallets, KYC for miners, and KYC for stakers and validators. It would also try to force these services to register as money service businesses. It would also ban privacy tech, particularly mixers. This bill, while proposed as a way to fight money laundering and terrorism is without a doubt a major attack on financial privacy and personal freedom.
New Bitcoin & Ethereum ETFs
Hong Kong has announced that they are bringing out new ETFs for both Bitcoin and Ethereum.
This is a massively important bit of news for the entire industry moving forward. And to be clear, these are futures ETFs not spot ETFs, so still a long way to go, but it is a step in the right direction.
Hong Kong is a major financial hub in east Asia and will provide mainland investors with an easy path to crypto exposure.
Grayscale Explores…
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.
