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In This Issue:
- Hot Or Not?
- Bitcoin Thoughts And Analysis
- Altcoin Charts
- Legacy Markets
- GPU Prices On The Decline
- Major Exchanges To Be Sued?
- Portugal Stands Strong On Crypto Taxes
- SBF Dunks On The CFTC
- The Wolf Of All Streets Podcast Ft. Bruce Fenton
- My Recommended Platforms And Tools
Is the market hot or not?
At this point, most of us have a solid read on the temperature of the market. But understanding whether the market is bullish or bearish is only the beginning. Remembering what to do in each situation is the hard part. The average investor is inclined to let loose with their wallet when the market is hot and tighten up when things are cold. This is counterproductive to long term success.
Read that again, because the key point is LONG TERM.
Remember, you are not supposed to buy the top and sell the bottom, no matter how much your inner dummy tells you to.
I created a simple guide below for you to assess the market. Pick the answers that best describe the situation today. Take a mental note of whether your answers fall on the right or left. If you are picking answers on the left, it may be time to put a padlock on your wallet, throw it in a safe and bury it. If you are picking answers on the right, it may be time to gather up the loose change and start buying, assuming you are patient and contrarian.
FED - Dovish or Hawkish
Market Participants - Confident or Scared
Economy - Vibrant or Dull
Stimulus - Flowing or Dry
Interest Rates - Low or High
CPI - Low or High
Community Vibes - Positivity or Negativity
HODLERs - Calm or Panicked
Traders - Profitable or Unprofitable
Sentiment - Bullish or Bearish
Normie Attitude - Cheerful or Depressed
Earnings - High or Low
Tribalism - Negligible or Abundant
Funds - Opening or Closing
Fear and Greed Index - Greedy or Fearful
News Station Focus - Buy Now or Sell Now
Absurd(ly high) Price Predictions - Abundant or Rare
Absurd(ly low) Price Predictions - Rare or Abundant
My answers were almost all on the right. How about you?
So what does this tell us about the temperature of the market?
If the market was a rapper, it would be Ice-T, Ice Cube or even Vanilla Ice. It’s frigid. Arctic.
You get the idea.
Remember these simple “checks” and use them to help determine when it is time to be contrarian. Ideally, we sell (slowly) when answers fall on the left and buy (slowly) when answers fall on the right. The problem is that we are human. Our psyche tells us to do the opposite, so we have to constantly fight against our natural instincts. And our natural instincts fight like Andre The Giant.
In the end, it is your own decisions as to when you choose to enter and exit the market and how much pain your are willing to suffer. This is a simple guide for those are willing to take a contrarian strategy and buy when assets are depressed. It’s not for everyone.