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!In my recent podcast conversation with Richard Byworth, CEO of Diginex, he confirmed that exchanges are already experiencing supply side shock. This means that they are literally running out of Bitcoin to sell. Supply cannot meet demand.I just read this on twitter."In the last 24 hours exchanges are down 15,680 BTC, down 23,970 BTC in the last week, down 61,555 BTC in the last month, and lastly down a whopping 568,618 BTC in the last year."~Pomp LetterIt is rare that data and common sense line up so incredibly well, but it's obvious in this case that the 2020-2021 Bitcoin bull run is being fueled by "HODL FOMO" rather than the speculative fomo of 2017. People are rushing to buy Bitcoin and put it away for a rainy day, rather than buying so that they can flip it for a profit. THIS TIME IS DIFFERENT.Just yesterday, a half a billion dollars in tether was deposited INTO exchanges. Think about that. 15,680 Bitcoin left exchanges, a removal of supply, while 500M in USDT was deposited. The only reason to deposit USDT onto an exchange and take the risk of having your money there is intent to buy - demand.Decreasing supply + increasing demand = number go up.Bitcoin may prove to be the easiest trade in the history of financial markets.2 PM EST live stream today! https://www.youtube.com/watch?v=IzFvHWqgEkoIn This Issue:Bitcoin Thoughts And AnalysisAltcoin ChartsA Case Study On How Early We Are5 Tactics For Finding FocusThe Top 100 Coins All Hit $1b Market Cap Riot Blockchain Acquires Whinstone USMy Recommended Platforms And Tools
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The Wolf Den #217 - Supply Side Shock
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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!In my recent podcast conversation with Richard Byworth, CEO of Diginex, he confirmed that exchanges are already experiencing supply side shock. This means that they are literally running out of Bitcoin to sell. Supply cannot meet demand.I just read this on twitter."In the last 24 hours exchanges are down 15,680 BTC, down 23,970 BTC in the last week, down 61,555 BTC in the last month, and lastly down a whopping 568,618 BTC in the last year."~Pomp LetterIt is rare that data and common sense line up so incredibly well, but it's obvious in this case that the 2020-2021 Bitcoin bull run is being fueled by "HODL FOMO" rather than the speculative fomo of 2017. People are rushing to buy Bitcoin and put it away for a rainy day, rather than buying so that they can flip it for a profit. THIS TIME IS DIFFERENT.Just yesterday, a half a billion dollars in tether was deposited INTO exchanges. Think about that. 15,680 Bitcoin left exchanges, a removal of supply, while 500M in USDT was deposited. The only reason to deposit USDT onto an exchange and take the risk of having your money there is intent to buy - demand.Decreasing supply + increasing demand = number go up.Bitcoin may prove to be the easiest trade in the history of financial markets.2 PM EST live stream today! https://www.youtube.com/watch?v=IzFvHWqgEkoIn This Issue:Bitcoin Thoughts And AnalysisAltcoin ChartsA Case Study On How Early We Are5 Tactics For Finding FocusThe Top 100 Coins All Hit $1b Market Cap Riot Blockchain Acquires Whinstone USMy Recommended Platforms And Tools