The Wolf Den #68 - Unemployment, Adoption, Trades, Requests
thewolfden.substack.com
This newsletter is sponsored by 2 amazing companies: VOYAGER and PHEMEX.I use Voyager for my spot trading and investing (and to compound interest) and I use Phemex for trading with leverage. Sign up to both with the links above and get some free Bitcoin. I really encourage you to check them both out - you know that I never endorse a product that I do not use!Make sure to use code SCOTT25 after you download the Voyager App to get $25 in free Bitcoin.Everyone is talking about the second wave of the coronavirus. They should also be talking about the inevitable second wave of unemployment that is coming.In the United States, 43% of businesses that received PPP loans will be out of cash next month. 69% of businesses that did not receive PPP loans will be out of cash next month. These loans are what have allowed companies to keep their workers employed across the country.Unemployment has continued to rise each week and that is with the government handing out gobs of cash to almost any company who asks. Another 1.5 million people filed for unemployment this week, which would have been an all time high by many multiples just a few months ago. Some calculate this week’s number at 2.2 million, if you include gig economy workers. These numbers are shocking, considering the economy is once again “open.” With these programs ending and COVID worsening in many places, the immediate future looks bleak for the economy.Jay-Z once used the term "grand opening, grand closing," which describes what many businesses are likely to experience in the coming months. While I doubt that many governments will mandate shutdowns again, you can be sure that some local municipalities and businesses will choose to close their doors.Not true? The biggest business of all has decided to delay their much anticipated opening - Disneyland in California. Employees of Disney World in Florida are petitioning to remain closed as well, as Orlando sees a huge spike in cases, positivity rates and hospitalizations. If Disney is afraid to reopen when they are legally able, what do you think will happen with other businesses?As mentioned in the previous newsletter, Trump has already theoretically endorsed a second round of stimulus for individuals - helicopter money for citizens and not companies. Congress passed another stimulus bill weeks ago, but the Senate has not bothered to put it on the floor. It has been 3 months since the first $1,200 checks were distributed, meaning that that money is long gone for almost everyone who needed it. The government is doing far too little for the people, and now is in a situation where they will have to send more money to them AND to businesses again.And it was reported today that 1.4 BILLION DOLLARS in stimulus were sent to DEAD PEOPLE...Time to turn on the money printer.The case for Bitcoin has never been more clear - a deflationary hard asset in a time of infinite fiat printing. Companies are lining up to chomp at the bit of the crypto craze. While price is not moving, interest in crypto certainly is. PayPal + Venmo are opening their doors to 325M customers. Australians can now buy Bitcoin AT THE POST OFFICE. People all over the US will soon be able to buy Bitcoin at Rite-Aid, CVS and 7-11 through Bitcoin ATM operator LibertyX. 20,000 Bitcoin ATMS in US convenience stores. Wow.This is the road to mainstream adoption, and it has never been more clear that people are aware of government ineptitude and excited at the prospect of a real hedge against the system.Buy Bitcoin - it's the best way to partially opt out of a broken system and insure your future if the worst case scenario plays out.The chart requests have been increasingly time consuming, leaving me little time to look for trades today. That said, I scanned some charts and, while Dominance is dropping, I don't see much in the alt market that is immediately appealing, besides a few coins. If this changes, I will share some more ideas tomorrow.In Legacy markets, we saw a 50% move on APT, the only stock I posted last week. NBY also made a big move, over 25%. Awesome. I will be searching for more setups here as well, but nothing it jumping out today. I remain heavily short SPY.I also apologize if there are typos - it is hard for me to put all of this together on Thursdays and edit it as thoroughly as I would like.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 NOTE - 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! What’s In This Issue:Bitcoin Thoughts And AnalysisBitcoin DominanceCollective Intelligence Summit TODAYThe Wolf Of All Streets Podcast - Soravis SrinawakoonThe Digital Dollar Is Back AgainTax Time (Again) In The United StatesIs The Stock Market a Bubble?Altcoin TradesTraits Shared By Successful TradersNew York Easing Crypto Rules?Fidelity Continues To Lead Institutional AdoptionMy Recommended Platforms And ToolsChart Requests
The Wolf Den #68 - Unemployment, Adoption, Trades, Requests
The Wolf Den #68 - Unemployment, Adoption…
The Wolf Den #68 - Unemployment, Adoption, Trades, Requests
This newsletter is sponsored by 2 amazing companies: VOYAGER and PHEMEX.I use Voyager for my spot trading and investing (and to compound interest) and I use Phemex for trading with leverage. Sign up to both with the links above and get some free Bitcoin. I really encourage you to check them both out - you know that I never endorse a product that I do not use!Make sure to use code SCOTT25 after you download the Voyager App to get $25 in free Bitcoin.Everyone is talking about the second wave of the coronavirus. They should also be talking about the inevitable second wave of unemployment that is coming.In the United States, 43% of businesses that received PPP loans will be out of cash next month. 69% of businesses that did not receive PPP loans will be out of cash next month. These loans are what have allowed companies to keep their workers employed across the country.Unemployment has continued to rise each week and that is with the government handing out gobs of cash to almost any company who asks. Another 1.5 million people filed for unemployment this week, which would have been an all time high by many multiples just a few months ago. Some calculate this week’s number at 2.2 million, if you include gig economy workers. These numbers are shocking, considering the economy is once again “open.” With these programs ending and COVID worsening in many places, the immediate future looks bleak for the economy.Jay-Z once used the term "grand opening, grand closing," which describes what many businesses are likely to experience in the coming months. While I doubt that many governments will mandate shutdowns again, you can be sure that some local municipalities and businesses will choose to close their doors.Not true? The biggest business of all has decided to delay their much anticipated opening - Disneyland in California. Employees of Disney World in Florida are petitioning to remain closed as well, as Orlando sees a huge spike in cases, positivity rates and hospitalizations. If Disney is afraid to reopen when they are legally able, what do you think will happen with other businesses?As mentioned in the previous newsletter, Trump has already theoretically endorsed a second round of stimulus for individuals - helicopter money for citizens and not companies. Congress passed another stimulus bill weeks ago, but the Senate has not bothered to put it on the floor. It has been 3 months since the first $1,200 checks were distributed, meaning that that money is long gone for almost everyone who needed it. The government is doing far too little for the people, and now is in a situation where they will have to send more money to them AND to businesses again.And it was reported today that 1.4 BILLION DOLLARS in stimulus were sent to DEAD PEOPLE...Time to turn on the money printer.The case for Bitcoin has never been more clear - a deflationary hard asset in a time of infinite fiat printing. Companies are lining up to chomp at the bit of the crypto craze. While price is not moving, interest in crypto certainly is. PayPal + Venmo are opening their doors to 325M customers. Australians can now buy Bitcoin AT THE POST OFFICE. People all over the US will soon be able to buy Bitcoin at Rite-Aid, CVS and 7-11 through Bitcoin ATM operator LibertyX. 20,000 Bitcoin ATMS in US convenience stores. Wow.This is the road to mainstream adoption, and it has never been more clear that people are aware of government ineptitude and excited at the prospect of a real hedge against the system.Buy Bitcoin - it's the best way to partially opt out of a broken system and insure your future if the worst case scenario plays out.The chart requests have been increasingly time consuming, leaving me little time to look for trades today. That said, I scanned some charts and, while Dominance is dropping, I don't see much in the alt market that is immediately appealing, besides a few coins. If this changes, I will share some more ideas tomorrow.In Legacy markets, we saw a 50% move on APT, the only stock I posted last week. NBY also made a big move, over 25%. Awesome. I will be searching for more setups here as well, but nothing it jumping out today. I remain heavily short SPY.I also apologize if there are typos - it is hard for me to put all of this together on Thursdays and edit it as thoroughly as I would like.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 NOTE - 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! What’s In This Issue:Bitcoin Thoughts And AnalysisBitcoin DominanceCollective Intelligence Summit TODAYThe Wolf Of All Streets Podcast - Soravis SrinawakoonThe Digital Dollar Is Back AgainTax Time (Again) In The United StatesIs The Stock Market a Bubble?Altcoin TradesTraits Shared By Successful TradersNew York Easing Crypto Rules?Fidelity Continues To Lead Institutional AdoptionMy Recommended Platforms And ToolsChart Requests