This newsletter is sponsored by PHEMEX, the only exchange that I use to trade crypto with leverage. Sign up with the link above and get some free Bitcoin. I really encourage you to check them out - you know that I never endorse a product that I do not use!Note: I have moved the charts back to the top of the newsletter. I have had a number of complaints about them being at the bottom and gmail truncating the emails. You can always click the link gmail provides to read the entire email.A recent study by Dan Tapiero that was reported in CoinTelegraph stated that 7% of Americans have bought Bitcoin.We are STILL SO EARLY.Early, but on the verge of meaningful progress towards mainstream adoption.As initially reported months ago, PayPal has confirmed that they will allow cryptocurrency buying, selling and shopping on its network. They have 346 MILLION active accounts. More importantly, this will allow all of the vendors who accept PayPal to take payments in crypto.Mind blowing,One of the largest barriers to mainstream adoption has always been trust and comfort. People do not want to go out of their way to buy Bitcoin on a platform that is unknown to them and don't want the inconvenience of adding another broker or platform to their busy lives. Now they can buy and sell Bitcoin on a site that they can trust and know how to use. This is so bullish.Something else to consider is that PayPal will have to own a TON of Bitcoin to service these clients. It has been widely reported that Grayscale has bought more Bitcoin than has been mined this year in an effort to keep up with Demand. Add Cash and PayPal into that equation and there's none left for the rest of us. They are going to have to buy, and buy in large quantities.Demand will vastly outweigh supply. It's simple economics. Price will rise if this is the case.We are still so early, but it feels like we are approaching the tipping point. What happens when 10% of Americans buy Bitcoin? Or 20%?Number go up.A general note - whenever I draw a line on a chart, it should be viewed as elastic and not static. It is more of a zone. So the areas around those lines are usually more accurate. Further, I try to use multiple techniques and indicators on various charts, so if you are learning TA, you should read through all of these to see how I blindly look at a chart.If you are a new member, please refer to Issue 10 (you can click on it here - https://www.getrevue.co/profile/TheWolfDen/issues/the-wolf-den-crypto-newsletter-issue-10-219754 and have it sent to you) for instructions on how to make my charts your own.IMPORTANT - I will only accept requests on Wednesdays, between 8 AM and 1 PM EST. That will make sure that they are your most pressing requests. Please mark it in your calendar and email me by responding to this email! Also mark that I will chart them LIVE ON YOUTUBE at 2PM EST EVERY WEDNESDAY!What’s In This Issue?Bitcoin Thoughts And AnalysisAltcoin ChartsTrading GapsCobra Effect 101The Coinbase Effect ---> PayPal EffectMy Ballin' Oates NFTs Drop TODAY!10% of Bitcoin’s Supply Has Remained StagnantPaul Tudor Jones Endorses Bitcoin AgainThe Wolf Of All Streets Podcast Ft. Jameson LoppChart RequestsMy Recommended Platforms And Tools
The Wolf Den #106 - We Are Still Early!
The Wolf Den #106 - We Are Still Early!
The Wolf Den #106 - We Are Still Early!
This newsletter is sponsored by PHEMEX, the only exchange that I use to trade crypto with leverage. Sign up with the link above and get some free Bitcoin. I really encourage you to check them out - you know that I never endorse a product that I do not use!Note: I have moved the charts back to the top of the newsletter. I have had a number of complaints about them being at the bottom and gmail truncating the emails. You can always click the link gmail provides to read the entire email.A recent study by Dan Tapiero that was reported in CoinTelegraph stated that 7% of Americans have bought Bitcoin.We are STILL SO EARLY.Early, but on the verge of meaningful progress towards mainstream adoption.As initially reported months ago, PayPal has confirmed that they will allow cryptocurrency buying, selling and shopping on its network. They have 346 MILLION active accounts. More importantly, this will allow all of the vendors who accept PayPal to take payments in crypto.Mind blowing,One of the largest barriers to mainstream adoption has always been trust and comfort. People do not want to go out of their way to buy Bitcoin on a platform that is unknown to them and don't want the inconvenience of adding another broker or platform to their busy lives. Now they can buy and sell Bitcoin on a site that they can trust and know how to use. This is so bullish.Something else to consider is that PayPal will have to own a TON of Bitcoin to service these clients. It has been widely reported that Grayscale has bought more Bitcoin than has been mined this year in an effort to keep up with Demand. Add Cash and PayPal into that equation and there's none left for the rest of us. They are going to have to buy, and buy in large quantities.Demand will vastly outweigh supply. It's simple economics. Price will rise if this is the case.We are still so early, but it feels like we are approaching the tipping point. What happens when 10% of Americans buy Bitcoin? Or 20%?Number go up.A general note - whenever I draw a line on a chart, it should be viewed as elastic and not static. It is more of a zone. So the areas around those lines are usually more accurate. Further, I try to use multiple techniques and indicators on various charts, so if you are learning TA, you should read through all of these to see how I blindly look at a chart.If you are a new member, please refer to Issue 10 (you can click on it here - https://www.getrevue.co/profile/TheWolfDen/issues/the-wolf-den-crypto-newsletter-issue-10-219754 and have it sent to you) for instructions on how to make my charts your own.IMPORTANT - I will only accept requests on Wednesdays, between 8 AM and 1 PM EST. That will make sure that they are your most pressing requests. Please mark it in your calendar and email me by responding to this email! Also mark that I will chart them LIVE ON YOUTUBE at 2PM EST EVERY WEDNESDAY!What’s In This Issue?Bitcoin Thoughts And AnalysisAltcoin ChartsTrading GapsCobra Effect 101The Coinbase Effect ---> PayPal EffectMy Ballin' Oates NFTs Drop TODAY!10% of Bitcoin’s Supply Has Remained StagnantPaul Tudor Jones Endorses Bitcoin AgainThe Wolf Of All Streets Podcast Ft. Jameson LoppChart RequestsMy Recommended Platforms And Tools