The Wolf Den #83 - Bullish Bitcoin, Chart Requests, Trades
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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.How can you be bearish on crypto?2020 has seen bullish news events and developments piling up and compounding on a near daily basis. Here are a few things that have happened in the past few weeks.The OCC has said that federal banks can custody crypto. This is massive news.PayPal + Venmo are opening the doors to buying and selling crypto. That is 320M people vying for a small piece of the 21M Bitcoin that will ever be mined (even less when you consider how many were lost).The Cash App is effectively thriving solely on Bitcoin.Visa and Mastercard are bullishGrayscale is going parabolic. Their products are selling like hot cakes and they are buying more Bitcoin and Ethereum than are being mined.Dave Portnoy is finally talking about Bitcoin. He is almost singlehandedly driving the retail stock market.Bitcoin has broken every key level that was in its path.Ethereum 2.0 is coming while DeFi booms.The dollar continues to drop.In years past, a single article or mention of Bitcoin was enough to send the market soaring or dumping, depending on the news being presented. Crypto is now a part of the daily conversation, both on mainstream and financial media. Huge news events do not even drive price, a sign of a healthier and more stable market. Further, the global economic situation is the ideal proving ground for hard digital money. It is Bitcoin's moment to shine.Bitcoin is deflationary - perhaps it's most alluring quality. Why? Because the FED is doing this:https://www.cnbc.com/2020/08/04/the-fed-is-expected-to-make-a-major-commitment-to-ramping-up-inflation-soon.htmlKey points from the article:The Federal Reserve is completing a yearlong policy review and is expected to announce the results soon.One big change would be a harder commitment to getting inflation higher, through a pledge not to raise rates until it hits at least 2%.Markets have been betting on higher inflation, with surging gold prices, a falling dollar and a rush to inflation-indexed bonds.They are purposely ramping up inflation. Terrible for our children, but great for Bitcoin.The time has come. Bitcoin isn't going anywhere, it has proved its worth and earned its nickname - the honey badger.I'm not going to stop buying Bitcoin any time soon.Or Ethereum.Don't forget to check out the new website! We are adding content every day. https://www.thewolfofallstreets.io/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!CHARTS ARE AT THE BOTTOM OF THE NEWSLETTER!What’s In This Issue:Cash App Should Be Renamed Bitcoin AppGold Is "Boomer Bitcoin"Why Markets Ignore The EconomyShort Squeeze 101Coins For Nothing And Your Trips For FreeThe Wolf Of All Streets Podcast Ft. Andrew ElliottBitcoin Thoughts And AnalysisBitcoin DominanceAltcoin ChartsLegacy MarketsMy Recommended Platforms And ToolsChart Requests
The Wolf Den #83 - Bullish Bitcoin, Chart Requests, Trades
The Wolf Den #83 - Bullish Bitcoin, Chart…
The Wolf Den #83 - Bullish Bitcoin, Chart Requests, Trades
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.How can you be bearish on crypto?2020 has seen bullish news events and developments piling up and compounding on a near daily basis. Here are a few things that have happened in the past few weeks.The OCC has said that federal banks can custody crypto. This is massive news.PayPal + Venmo are opening the doors to buying and selling crypto. That is 320M people vying for a small piece of the 21M Bitcoin that will ever be mined (even less when you consider how many were lost).The Cash App is effectively thriving solely on Bitcoin.Visa and Mastercard are bullishGrayscale is going parabolic. Their products are selling like hot cakes and they are buying more Bitcoin and Ethereum than are being mined.Dave Portnoy is finally talking about Bitcoin. He is almost singlehandedly driving the retail stock market.Bitcoin has broken every key level that was in its path.Ethereum 2.0 is coming while DeFi booms.The dollar continues to drop.In years past, a single article or mention of Bitcoin was enough to send the market soaring or dumping, depending on the news being presented. Crypto is now a part of the daily conversation, both on mainstream and financial media. Huge news events do not even drive price, a sign of a healthier and more stable market. Further, the global economic situation is the ideal proving ground for hard digital money. It is Bitcoin's moment to shine.Bitcoin is deflationary - perhaps it's most alluring quality. Why? Because the FED is doing this:https://www.cnbc.com/2020/08/04/the-fed-is-expected-to-make-a-major-commitment-to-ramping-up-inflation-soon.htmlKey points from the article:The Federal Reserve is completing a yearlong policy review and is expected to announce the results soon.One big change would be a harder commitment to getting inflation higher, through a pledge not to raise rates until it hits at least 2%.Markets have been betting on higher inflation, with surging gold prices, a falling dollar and a rush to inflation-indexed bonds.They are purposely ramping up inflation. Terrible for our children, but great for Bitcoin.The time has come. Bitcoin isn't going anywhere, it has proved its worth and earned its nickname - the honey badger.I'm not going to stop buying Bitcoin any time soon.Or Ethereum.Don't forget to check out the new website! We are adding content every day. https://www.thewolfofallstreets.io/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!CHARTS ARE AT THE BOTTOM OF THE NEWSLETTER!What’s In This Issue:Cash App Should Be Renamed Bitcoin AppGold Is "Boomer Bitcoin"Why Markets Ignore The EconomyShort Squeeze 101Coins For Nothing And Your Trips For FreeThe Wolf Of All Streets Podcast Ft. Andrew ElliottBitcoin Thoughts And AnalysisBitcoin DominanceAltcoin ChartsLegacy MarketsMy Recommended Platforms And ToolsChart Requests