In This Issue
- I share my thoughts on the state of the market, Genesis updates, AI coin insanity, Uniswap drama, Trader Joe news, Acala news, Aptos and Chingari, Supra Oracles airdrop & a Shardeum airdrop guide.
- Rekt Capital has the latest technical analysis for you on the market.
- Erik has a report for you on Zcash moving to proof-of-stake.
- Defi Dad has a tutorial for you on how to earn RDNT Looping stablecoins on Radiant 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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What’s On My Mind by Lark
The State of the Market
Bitcoin right now is in a weird spot.
On the daily, we have a golden cross, and not just any golden cross, but a strong one that has come in after a major downtrend. Could it be a fakeout? Or the start of a new market trend?
The tricky part of this conversation looking at TA is that Bitcoin is also on the verge of putting in a death cross on the weekly. This would be the first time it has ever done this.
So what should we give more weight to? Well often we would say the weekly, but we must also remember that the simple moving average is a lagging indicator. So, in this case, the daily is more interesting. It fits my bias anyway 😂
So for now I will be maintaining a cautiously bullish bias. The markets have been insane, and lots of money has been changing hands. The last 6 weeks have already made fortunes for some. I hope you have been paying attention.
This chart here shows the Realize Cap Hodl Waves adjusted for short-term holders only. As you can see the market has reached an inflection point that has typically come right around market bottoms and signaled the start of a new uptrend.
Over in Ethereum land the ETH testnet has successfully processed the first batch of ETH withdrawals. Meaning we are one step closer to the real thing.
The big story to watch out for next week is the inflation data report which will come out on the 14th. If inflation keeps falling then it gives market bulls more reason to run. If we get an unexpected spike in inflation… then watch out!
US equities have reached GREED on the fear and greed index. Not extreme greed, just greed. Take that for what you will.
Genesis Updates
The Digital Currency Group’s Genesis subsidiary seems to have reached an agreement that will return 80% of funds to customers. Of critical interest here are the 340,000 Gemini Earn customers who are owed around 900 million. Cameron Winklevoss has said that Gemini will throw in an extra 100 million on top of what Genesis is likely to give back.
Now if you were not directly affected by this story you may be wondering why you should care? Well, this means that one of the last players left to become a forced seller will not be doing that. There were a lot of fears that DCG would need to start dumping huge sums of crypto to bail themselves out of this mess, but a restructuring plan along with selling many of the Genesis branded businesses will…
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.
