Phemex is running a crazy promotion. For a limited time, all BTC deposits will be rewarded with a generous trading bonus of up to $600! All of the details are linked below in the "sponsors" section of the email. This is the best time to sign up or deposit.https://phemex.com/a/ScottMelkerAlso, TradingView is running their annual Black Friday Sale - 60% off. This is the ONLY TIME OF YEAR you should upgrade or extend your account. They do it every year. You can check it out here or below in the newsletter. So important!Being bullish with a long time horizon in a trending market is the easiest way to make money. Period. Being a bear requires impeccable timing, as shorting any asset has a profit ceiling (100% without leverage) and can only be done successfully at specific moments. The upside of being a bull is endless - price can always continue up further.Anyone who has just blindly bought Bitcoin at almost any point in history and simply held is in profit, minus a few days. If you dollar cost averaged or bought even a single dip, then you have likely accumulated quite a bit of wealth.Being bullish on Bitcoin was a risky bet in the past. Not as much anymore, as it is a maturing asset with a more defined narrative and solid floor, created by institutional demand. Demand is high, supply is low. It's Economics 101.How do we know that demand is high?Grayscale is buying more Bitcoin than is being mined. Cash app and PayPal are doing the same. Many don't realize that Paxos, the company that PayPal is partnered with, has to buy a Bitcoin for every single one sold on Paypal - and we have seen PayPal roll out their Bitcoin service faster and with higher limits than originally intended to helps fill demand.That is 3 just companies.Imagine when every company wants exposure. And you do as well.Supply side shock is a near certainty.Billionaires are buying or are already exposed. It's becoming a necessity for those with tremendous wealth to hold Bitcoin as a hedge against their other holdings. They seemingly announce their holdings on a daily basis now, driving further interest and more buying.Legendary investors are singing the praises of Bitcoin. Catherine Wood, CEO of ARK Invest, who has created and managed 3 of the top 10 performing ETFs on 2020 (in legacy markets) and also called for Tesla to hit $6000 a share early in 2020 before one of the greatest bull runs in the history of a single stock, has said that Bitcoin could hit 500K. Citibank called for $375K Bitcoin.These wild predictions sounded hyperbolic in 2017, but are par for the course at the end of 2020. These numbers seem insane, but they are quite possible if demand continues to increase as supply is removed from the market. Bitcoin has already done a 5X this year from the March lows. Simply doing that again would bring price close to 100K.I sent THIS TWEET VIDEO discussing why it is different this time. In 2017, we saw speculative fomo - people buying an asset they knew nothing about so that they could get rich selling it higher. This time we are seeing HODL FOMO. People are buying Bitcoin to hold it forever, which removes more supply from the market.This time is different.Side note - I am going to stream live at 1 PM EST today, looking at charts and seeing what else we can find out there.Join me here:https://youtu.be/LfhB7i8MSx0In This Issue:Bitcoin Thoughts And AnalysisAltcoin ChartsEthereum Deposits Picking Up SteamXRP Holders Earn a Free AirdropNFT Art Sets RecordPayPal + Cash App Buying More BTC Than Being MinedBlackRock's CIO Says Bitcoin Could Replace GoldUSA Using USDC To Send Money To VenezuelaPhemex Offering $600 Trading BonusTradingView Black Friday SaleMy Recommended Platforms And Tools
The Wolf Den #120 - Being A Bull Is Profitable
The Wolf Den #120 - Being A Bull Is…
The Wolf Den #120 - Being A Bull Is Profitable
Phemex is running a crazy promotion. For a limited time, all BTC deposits will be rewarded with a generous trading bonus of up to $600! All of the details are linked below in the "sponsors" section of the email. This is the best time to sign up or deposit.https://phemex.com/a/ScottMelkerAlso, TradingView is running their annual Black Friday Sale - 60% off. This is the ONLY TIME OF YEAR you should upgrade or extend your account. They do it every year. You can check it out here or below in the newsletter. So important!Being bullish with a long time horizon in a trending market is the easiest way to make money. Period. Being a bear requires impeccable timing, as shorting any asset has a profit ceiling (100% without leverage) and can only be done successfully at specific moments. The upside of being a bull is endless - price can always continue up further.Anyone who has just blindly bought Bitcoin at almost any point in history and simply held is in profit, minus a few days. If you dollar cost averaged or bought even a single dip, then you have likely accumulated quite a bit of wealth.Being bullish on Bitcoin was a risky bet in the past. Not as much anymore, as it is a maturing asset with a more defined narrative and solid floor, created by institutional demand. Demand is high, supply is low. It's Economics 101.How do we know that demand is high?Grayscale is buying more Bitcoin than is being mined. Cash app and PayPal are doing the same. Many don't realize that Paxos, the company that PayPal is partnered with, has to buy a Bitcoin for every single one sold on Paypal - and we have seen PayPal roll out their Bitcoin service faster and with higher limits than originally intended to helps fill demand.That is 3 just companies.Imagine when every company wants exposure. And you do as well.Supply side shock is a near certainty.Billionaires are buying or are already exposed. It's becoming a necessity for those with tremendous wealth to hold Bitcoin as a hedge against their other holdings. They seemingly announce their holdings on a daily basis now, driving further interest and more buying.Legendary investors are singing the praises of Bitcoin. Catherine Wood, CEO of ARK Invest, who has created and managed 3 of the top 10 performing ETFs on 2020 (in legacy markets) and also called for Tesla to hit $6000 a share early in 2020 before one of the greatest bull runs in the history of a single stock, has said that Bitcoin could hit 500K. Citibank called for $375K Bitcoin.These wild predictions sounded hyperbolic in 2017, but are par for the course at the end of 2020. These numbers seem insane, but they are quite possible if demand continues to increase as supply is removed from the market. Bitcoin has already done a 5X this year from the March lows. Simply doing that again would bring price close to 100K.I sent THIS TWEET VIDEO discussing why it is different this time. In 2017, we saw speculative fomo - people buying an asset they knew nothing about so that they could get rich selling it higher. This time we are seeing HODL FOMO. People are buying Bitcoin to hold it forever, which removes more supply from the market.This time is different.Side note - I am going to stream live at 1 PM EST today, looking at charts and seeing what else we can find out there.Join me here:https://youtu.be/LfhB7i8MSx0In This Issue:Bitcoin Thoughts And AnalysisAltcoin ChartsEthereum Deposits Picking Up SteamXRP Holders Earn a Free AirdropNFT Art Sets RecordPayPal + Cash App Buying More BTC Than Being MinedBlackRock's CIO Says Bitcoin Could Replace GoldUSA Using USDC To Send Money To VenezuelaPhemex Offering $600 Trading BonusTradingView Black Friday SaleMy Recommended Platforms And Tools