The Wolf Den #35 - Digital Dollar, Bitcoin, Miner Sell Pressure And More
thewolfden.substack.com
Jobs.We can speak endlessly about corporate bailouts, global markets, lack of supply and demand and other macro issues. At the end of the day, what is more important to an individual than having a job and being able to pay their bills and support their family? To me, this is the biggest problem facing the average person now - will they lose their job, if so then when will they lose their job, and will they have a job to go back to when the smoke clears? I am already hearing stories of mass layoffs and furloughs, particularly in retail and entertainment. Restaurant groups are laying off employees by the thousands. If those restaurants close permanently, what jobs will people have to return to?I do not believe that the economy can recover if people are not working. Helicopter money (the government sending out checks, or cryptocurrencies as luck may have it) would be a start - if they are going to print money endlessly anyway, they might as well take care of the people as well as the undeserving companies. The government also will likely need to start waving bills, taxes, mortgage payments and other potential expenses for individuals. This could work temporarily if the economy is not shut down for long. That feels like wishful thinking, but there are countries that are seemingly starting to "flatten the curve" of the coronavirus. So there is hope.Last week alone, 700,000 Americans filed for unemployment - more than any time during the last recession. Further, this number only accounts for federal reporting and 17 states! These numbers are going to get worse long before they get better. Never has it been more important for people to find a way to have multiple income streams. The world has changed and reliance on a single job that can disappear in the blink of an eye will be nearly impossible moving forward. Trading is an option for a brave few, but in a time when people are at risk of losing their savings, it's probably not the ideal job - you cannot trade well when you are stressed about your bank roll.For the moment, all most of us can do is watch and wait and do our part to stop the spread of the coronavirus. STAY HOME!Interestingly, if ever Bitcoin was going to shine, this environment would be the ideal time. The Fed has effectively announced infinite quantitative easing, saying there will be no limit to the money printing if it is needed. They will buy everything in sight to help prop the market - bonds, equities, mortgage backed securities etc. They are even allowing corporations to create bonds which they will guarantee - all with no funds in reserve. The market is bouncing hard today on this news, but will it last? Hard to expect it to continue up with any sustained power until the economy is back online.This is the doomsday fiat scenario that Bitcoin maximalists have been preaching for years - a dollar that will inevitably collapse due to hyperinflation. While I do not believe that is highly likely, you have to now recognize it as a real possibility.Bitcoin is deflationary and therefore remains the ideal hedge against the collapse of fiat currencies. That said, at this moment, EVERYONE NEEDS DOLLARS. We discussed this before, but the dollar remains the only true safe haven asset, and being long the dollar against other currencies is perhaps the easiest trade still.The newsletter is sponsored by Voyager, my favorite crypto broker! I am so excited that they have decided to be a part of my journey, both with this offering and the podcast. There’s more about them below.Remember - you can send chart requests for Thursday's edition between 8 AM and 1 PM EST TOMORROW (Wednesday). You can respond to this email or last Thursday's. What’s in this issue?Bitcoin AnalysisDemocrats Want To Use Digital Currency For StimulusThe Wolf Of All Street Podcast Ft. Ryan Selkis2020 Halving - Miner Sell Pressure ReportAltcoin ChartsCOVID-19 Is Not A BioweaponRealities Of A TraderFed Announces Major Plan To Support The MarketSenators Selling Stock On Inside InformationSecurity Tip- Avoid Public Wi-FiSponsored By Voyager
The Wolf Den #35 - Digital Dollar, Bitcoin, Miner Sell Pressure And More
The Wolf Den #35 - Digital Dollar, Bitcoin…
The Wolf Den #35 - Digital Dollar, Bitcoin, Miner Sell Pressure And More
Jobs.We can speak endlessly about corporate bailouts, global markets, lack of supply and demand and other macro issues. At the end of the day, what is more important to an individual than having a job and being able to pay their bills and support their family? To me, this is the biggest problem facing the average person now - will they lose their job, if so then when will they lose their job, and will they have a job to go back to when the smoke clears? I am already hearing stories of mass layoffs and furloughs, particularly in retail and entertainment. Restaurant groups are laying off employees by the thousands. If those restaurants close permanently, what jobs will people have to return to?I do not believe that the economy can recover if people are not working. Helicopter money (the government sending out checks, or cryptocurrencies as luck may have it) would be a start - if they are going to print money endlessly anyway, they might as well take care of the people as well as the undeserving companies. The government also will likely need to start waving bills, taxes, mortgage payments and other potential expenses for individuals. This could work temporarily if the economy is not shut down for long. That feels like wishful thinking, but there are countries that are seemingly starting to "flatten the curve" of the coronavirus. So there is hope.Last week alone, 700,000 Americans filed for unemployment - more than any time during the last recession. Further, this number only accounts for federal reporting and 17 states! These numbers are going to get worse long before they get better. Never has it been more important for people to find a way to have multiple income streams. The world has changed and reliance on a single job that can disappear in the blink of an eye will be nearly impossible moving forward. Trading is an option for a brave few, but in a time when people are at risk of losing their savings, it's probably not the ideal job - you cannot trade well when you are stressed about your bank roll.For the moment, all most of us can do is watch and wait and do our part to stop the spread of the coronavirus. STAY HOME!Interestingly, if ever Bitcoin was going to shine, this environment would be the ideal time. The Fed has effectively announced infinite quantitative easing, saying there will be no limit to the money printing if it is needed. They will buy everything in sight to help prop the market - bonds, equities, mortgage backed securities etc. They are even allowing corporations to create bonds which they will guarantee - all with no funds in reserve. The market is bouncing hard today on this news, but will it last? Hard to expect it to continue up with any sustained power until the economy is back online.This is the doomsday fiat scenario that Bitcoin maximalists have been preaching for years - a dollar that will inevitably collapse due to hyperinflation. While I do not believe that is highly likely, you have to now recognize it as a real possibility.Bitcoin is deflationary and therefore remains the ideal hedge against the collapse of fiat currencies. That said, at this moment, EVERYONE NEEDS DOLLARS. We discussed this before, but the dollar remains the only true safe haven asset, and being long the dollar against other currencies is perhaps the easiest trade still.The newsletter is sponsored by Voyager, my favorite crypto broker! I am so excited that they have decided to be a part of my journey, both with this offering and the podcast. There’s more about them below.Remember - you can send chart requests for Thursday's edition between 8 AM and 1 PM EST TOMORROW (Wednesday). You can respond to this email or last Thursday's. What’s in this issue?Bitcoin AnalysisDemocrats Want To Use Digital Currency For StimulusThe Wolf Of All Street Podcast Ft. Ryan Selkis2020 Halving - Miner Sell Pressure ReportAltcoin ChartsCOVID-19 Is Not A BioweaponRealities Of A TraderFed Announces Major Plan To Support The MarketSenators Selling Stock On Inside InformationSecurity Tip- Avoid Public Wi-FiSponsored By Voyager