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!I tweeted the following yesterday, and was predictably assaulted with emotional reactions: "Your portfolio is at an all time high and is approaching life changing levels of wealth?Don’t quit your day job. The things you do to make money each day are the anchor, no matter what happens to your volatile portfolio."Unless you are constantly selling from your investment portfolio to live, it should be viewed more as a savings account than as income. Of course there becomes a certain point where, if invested wisely, you can simply live off of the interest from your investments and never work again. But for most, that will never be a reality and is largely dependent on the value of the investment portfolio never dropping. We know that is not something you can count on, especially in the crypto market. If you "retire" and then immediately experience a 50% drawdown in portfolio value, what will you do?Most people who quit their job to go full time crypto end up either broke or bored and unhappy. Neither is desirable. Finding a better job that makes you happy would be a more compelling idea than quitting altogether.Just because the number is big, does not mean that it will always remain that way. Quitting the things that provide a solid floor and foundation is unwise, until the number is so big that you can cash out and never look back. But that requires you to cash out.And we know that nobody here intends to cash out their entire crypto portfolio any time soon...My advice - remain sensible and grounded and keep doing what you are doing. It's likely working. Then, have a plan for exiting so that you know what to do when the proper time comes.I will be live streaming your chart requests today at 2 PM EST. I accept requests on Wednesdays from 8 AM EST to 1 PM EST via email - you can respond to this newsletter. ONE REQUEST PER PERSON, please. Here is the link for the live broadcast.https://www.youtube.com/watch?v=Oj8e5NS41pQIn This Issue:Bitcoin And The Elon Effect From IntoTheBlockBitcoin Thoughts And AnalysisAltcoin ChartsMatic Is Becoming PolygonTesla’s Bitcoin Purchase Is Paying OffETH 2.0 Surpasses 3,000,000 Ether StakedJim Cramer Is Officially "One Of Us"My Recommended Platforms And Tools
The Wolf Den #175 - The Elon Effect
The Wolf Den #175 - The Elon Effect
The Wolf Den #175 - The Elon Effect
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!I tweeted the following yesterday, and was predictably assaulted with emotional reactions: "Your portfolio is at an all time high and is approaching life changing levels of wealth?Don’t quit your day job. The things you do to make money each day are the anchor, no matter what happens to your volatile portfolio."Unless you are constantly selling from your investment portfolio to live, it should be viewed more as a savings account than as income. Of course there becomes a certain point where, if invested wisely, you can simply live off of the interest from your investments and never work again. But for most, that will never be a reality and is largely dependent on the value of the investment portfolio never dropping. We know that is not something you can count on, especially in the crypto market. If you "retire" and then immediately experience a 50% drawdown in portfolio value, what will you do?Most people who quit their job to go full time crypto end up either broke or bored and unhappy. Neither is desirable. Finding a better job that makes you happy would be a more compelling idea than quitting altogether.Just because the number is big, does not mean that it will always remain that way. Quitting the things that provide a solid floor and foundation is unwise, until the number is so big that you can cash out and never look back. But that requires you to cash out.And we know that nobody here intends to cash out their entire crypto portfolio any time soon...My advice - remain sensible and grounded and keep doing what you are doing. It's likely working. Then, have a plan for exiting so that you know what to do when the proper time comes.I will be live streaming your chart requests today at 2 PM EST. I accept requests on Wednesdays from 8 AM EST to 1 PM EST via email - you can respond to this newsletter. ONE REQUEST PER PERSON, please. Here is the link for the live broadcast.https://www.youtube.com/watch?v=Oj8e5NS41pQIn This Issue:Bitcoin And The Elon Effect From IntoTheBlockBitcoin Thoughts And AnalysisAltcoin ChartsMatic Is Becoming PolygonTesla’s Bitcoin Purchase Is Paying OffETH 2.0 Surpasses 3,000,000 Ether StakedJim Cramer Is Officially "One Of Us"My Recommended Platforms And Tools