The Wolf Den #92 - Bitcoin Dumps, Chart Requests And More
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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!Note: I have moved the charts back to the top of the newsletter. I have had a number of complaints about them being at the bottom and gmail truncating the emails. It seems clear that many of you are here for the charts, so I have listened and put them back up top, front and center. You can always click the link gmail provides to read the entire email.Bitcoin is dropping and crypto twitter is in a full panic, screaming about the death of crypto, that it's all a scam and that we are all rekt. The very same people who were anticipating a drop to the $10,000s are now afraid to buy, claiming that price has to go lower and that the bull market could be at an end.Aaaah, humans. So predictable. So funny.Sure, the bull market could be at an end in the short term (I do NOT believe this, but always possible). Sure, another deadly virus could spread around the world and shut down the global economy. Sure, aliens could land and harvest our brains. Sure, we could be in a simulation and our masters could be having a bit of fun with us today. Today's podcast actually addresses that, but I digress.It doesn't matter.Many of us are here because we truly believe in Bitcoin, that it's a better store of value than other assets and that price will continue to rise over time. Assuming this is your view, does today's price action in any way change your long term opinion that it will rise in value?If the answer is no, this is probably a good time to start buying, even if it drops further.If the answer is yes, you probably have weak hands or are overexposed.I am not talking about leverage trading here. Hell, I am not talking about trading at all. I am talking about investing in your future.Bitcoin is a savings account.I am way more worried about losing money because of the devaluation of my dollars than I am of losing it because of Bitcoin price action. I have been screaming that I wanted to buy Bitcoin between $10,500 and $10,800 for weeks. I am not going to change my plan now that we are here, just because it's a little bit scary. My bids are filled.To that end, how do you make sure that you can actually buy Bitcoin when it dips? You have to have cash.Why cash should always be a dedicated part of your crypto portfolio.1) Dry powder to buy the dip.2) It RISES in Bitcoin value when Bitcoin drops. It behaves as a perfect hedge against the dip.You should always have at least 15% of your crypto portfolio in USD or stable coins.This applies to every portfolio, but is really amplified with Bitcoin because we are trying our best to accumulate more.I have no idea what is going to happen to Bitcoin in the near or distant future. I just believe that it's the best hard money ever created and that it's a good bet to outperform moving forward. Just a reminder to check out thewolfofallstreets.io. I try to “fill the gaps” between newsletter with more information and news on the site.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 AnalysisAltcoin ChartsBanking 101A Negative Take On Yield FarmingBitcoin Miners Selling ElectricityChina’s Digital Yuan Launches with Mixed FeedbackShyft Navigates Regulation With Crypto HeavyweightsYFL Getting HypeThe Wolf Of All Streets Podcast Ft. Humayun SheikhChart RequestsMy Recommended Platforms And Tools
The Wolf Den #92 - Bitcoin Dumps, Chart Requests And More
The Wolf Den #92 - Bitcoin Dumps, Chart…
The Wolf Den #92 - Bitcoin Dumps, Chart Requests And More
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!Note: I have moved the charts back to the top of the newsletter. I have had a number of complaints about them being at the bottom and gmail truncating the emails. It seems clear that many of you are here for the charts, so I have listened and put them back up top, front and center. You can always click the link gmail provides to read the entire email.Bitcoin is dropping and crypto twitter is in a full panic, screaming about the death of crypto, that it's all a scam and that we are all rekt. The very same people who were anticipating a drop to the $10,000s are now afraid to buy, claiming that price has to go lower and that the bull market could be at an end.Aaaah, humans. So predictable. So funny.Sure, the bull market could be at an end in the short term (I do NOT believe this, but always possible). Sure, another deadly virus could spread around the world and shut down the global economy. Sure, aliens could land and harvest our brains. Sure, we could be in a simulation and our masters could be having a bit of fun with us today. Today's podcast actually addresses that, but I digress.It doesn't matter.Many of us are here because we truly believe in Bitcoin, that it's a better store of value than other assets and that price will continue to rise over time. Assuming this is your view, does today's price action in any way change your long term opinion that it will rise in value?If the answer is no, this is probably a good time to start buying, even if it drops further.If the answer is yes, you probably have weak hands or are overexposed.I am not talking about leverage trading here. Hell, I am not talking about trading at all. I am talking about investing in your future.Bitcoin is a savings account.I am way more worried about losing money because of the devaluation of my dollars than I am of losing it because of Bitcoin price action. I have been screaming that I wanted to buy Bitcoin between $10,500 and $10,800 for weeks. I am not going to change my plan now that we are here, just because it's a little bit scary. My bids are filled.To that end, how do you make sure that you can actually buy Bitcoin when it dips? You have to have cash.Why cash should always be a dedicated part of your crypto portfolio.1) Dry powder to buy the dip.2) It RISES in Bitcoin value when Bitcoin drops. It behaves as a perfect hedge against the dip.You should always have at least 15% of your crypto portfolio in USD or stable coins.This applies to every portfolio, but is really amplified with Bitcoin because we are trying our best to accumulate more.I have no idea what is going to happen to Bitcoin in the near or distant future. I just believe that it's the best hard money ever created and that it's a good bet to outperform moving forward. Just a reminder to check out thewolfofallstreets.io. I try to “fill the gaps” between newsletter with more information and news on the site.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 AnalysisAltcoin ChartsBanking 101A Negative Take On Yield FarmingBitcoin Miners Selling ElectricityChina’s Digital Yuan Launches with Mixed FeedbackShyft Navigates Regulation With Crypto HeavyweightsYFL Getting HypeThe Wolf Of All Streets Podcast Ft. Humayun SheikhChart RequestsMy Recommended Platforms And Tools