In This Issue
- I share my thoughts on the state of the market, Ethereum Shadow Fork, class of 2022 ATHs, Solana the comeback kid, Injective injects money, & Vela airdrop.
- Rekt Capital has the latest technical analysis for you on the market.
- Erik has a report for you on staking vs. yield farming.
- Defi Dad has a tutorial for you on how to earn 4.71% APR in ETH with an index of LSDs.
- 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
I love it when the markets are exciting. Things have been so good in January that we can almost forget that some of our bags are still 70-90% down.
Sentiment wise this is the most excitement the market has seen in what feels like a very very long time. If this is a 2019 style bear market rally then we could see some real price movement. Like I have said my prediction is BTC up to 48k in 2023. That is just a guess, and IF it does play out it will not happen in a straight line.
Up to this point the market has been showing strength in January. Let us hope that can continue for the months ahead. Just be careful chasing hype.
In other news the FED is meeting on Monday next week. It is widely expected that they will raise interest rates by 0.25%. The market should welcome such a move. If they raise by 0.5% I can’t see the market looking at that very favorably. The FED pivot narrative is the hope that market participants are clinging to now.
That being said Microsoft came out and issued a warning for investors to expect growth to slow in 2023 even quicker than it did in 2022. So basically no growth for tech this year.
That would fit in line with expectations of a recession in the USA.
That would fit in line with a bear market rally thesis.
Ethereum Shadow Fork
Ethereum is now one step closer to its Shanghai Upgrade which will most importantly unlock staking rewards. That step closer is the so-called shadow fork. Basically, this is a dress rehearsal for the real deal which is still scheduled to happen in March. Big things ahead for Ethereum this year!
Class of 2022 ATHs
Believe it or not some coins are actually going into price discovery. For example Ethereum layer two optimism just hit a new all-time high this week. Aptos also hit a new all-time high this week. I made a video discussing Aptos and that I would like to buy at lower prices when it was about $3.50. Well… looks like the market had other ideas, lol. Onto the next one.
But this does underline something very important happening in the market. Money is chasing new narratives. New chains that launched in the bear market are finally catching some bids. Keep an eye out for money to keep moving into these areas.
But not all coins have benefitted, some promising networks like GLMR and IMX have not seen these kinds of price moves. Perhaps too many got burned by their overhyped listings? I still have strong hopes for my GLMR bag though.
