In This Issue
- I share my thoughts on the state of the market, everything is a security, Bitcoin NFTs taking off, Altcoin alpha, big partnerships & the Layer Zero airdrop.
- Rekt Capital has the latest technical analysis for you on the market.
- Erik has a report for you on Polygon’s zkEVM.
- Defi Dad has a tutorial for you on how to earn up to 16-40% APR with Stablecoin LPs on SolidLizard AMM.
- Jesse has a ton of hot new airdrops for you.
- Hot new token sales.
- Rebecca has all of the latest news for you.
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Buy, trade, and hold 600+ cryptocurrencies on Binance
What’s On My Mind by Lark
The State of the Market
Higher lows, for now anyway, we are still putting in higher lows for Bitcoin. Macro has still not melted down, although the S&P 500 is hanging right at support now on the 50 day, the 200 day, and the main trend line in orange.
If the equity markets tumble further then it could be bad news for crypto. I would not like to see us lose those key lines of support.
Can we still see a retest of 20K? Yes. In fact, I have bids in just in case it does. It would be the exact kind of market BS that would shake and wreck those longing the market and would convince everyone that we are going down to 10k again before ripping higher.
Keep in mind that loads of mega-companies are entering crypto, China is warming up to crypto, Ethereum Shanghai goes live next month as does zkEVM for Matic, and many other big things. And of course, global liquidity is rising and the FED is likely to stop rate hikes in the next 3 months. There are lots of narratives that the market can hop onto.
My personal opinion is that we could still see a rally to as high as 48k for BTC in 2023 as long as the overall macro scene doesn’t totally go to shit. That move though will not be in a straight line if it happens, because it never is.
Everything IS A Security….
SEC chief Gary Gensler really doesn’t like crypto. He is now trying to argue that literally, everything besides Bitcoin is a security. And thus that every coin listed on US exchanges except for Bitcoin is violating the law, and the exchanges are aiding in this crime.
Gary has even gone so far as to argue that stablecoins like BUSD are securities, which is absurd. Plus, his Bitcoin-only comment fails to account for other proof-of-work coins like Monero and Litecoin that were fair mined and had no tokens sold to investors.
Gary is also trying to argue that staking is a security because you receive a reward for doing the work of securing the network.
This is insanity. The SEC under the leadership of Gensler is trying to draw the USA into the crypto stone age. The USA is missing a massive opportunity, and other countries like the UAE and Hong Kong are stepping in to grab the opportunity.
That all being said, the industry does need to be regulated and transparent parameters do need to be put in place. But the current SEC seems to have no interest in doing that.
Bitcoin NFTs Taking Off
Ordinals are getting a new NFT collection, this time from Yuga Labs, the creators of Bored Apes….
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.
