We were recently locked out of the main Google account that we use to administer YouTube. That therefore means that we have no access. None. Zero.
This was all because the admin tried to login to the Google account from a new IP. Despite full verification (2FA, backup emails etc), they still locked us out.
So, until we can regain access to the account, no videos can be published or worked on. I am really disappointed to tell you this as I had some really amazing content in the pipes for you.
In the meantime if you want to help you can retweet this tweet of mine
However, this just further reinforces my belief in the promise of decentralised technology. I have heard from numerous other people who were in similar situations. It’s not just your email account. It could be a social media account, trading account or (in the worst case) a bank account.
That is why I am so positive about the future of Defi and decentralized technology. Yes, you do take the risks of holding your own keys. Yes, there is no gatekeeper who can stop someone breaking into your account. However, if you take the adequate precautions to secure your wallets / funds, no one can stop you from using it.
In the meantime, YouTube has the reach in order for me to get my message out. And, until this incident I have not had too many issues with the account.
So, I am hopeful that with your support, their support team will prioritize this and be able to recover our account so I can continue bring you even more top-notch videos on YouTube.
📊 Portfolio Update 📊
Can’t be bullish on Defi and not add some ETH more to my portfolio. It’s the ecosystem that is at the forefront and I hope to be bringing you my latest ETH update when we get access to the channel again.
In terms of other movements, given that I have exposure to over three Dex projects (1inch, DODO, INJ), I am going to reduce some exposure here and close out of DODO & 1inch. Will keep these in stable again.
I am also considering picking up more SOL and I have my eye on FTM. Fantom has been building out a really interesting product over the past few months and I will be exploring it a bit more in an upcoming video.
As always, full portfolio updates are disclosed in my Telegram Channel. Full portfolio is:
ETH 30.54% | BTC 26.41% | USDC 12.19% | ADA 7.90% | DOT 4.33% | SOL 4.27% | YFI 3.26% | LINK 2.76% | INJ 2.71% | RUNE 2.11% | ATOM 1.51% | AVAX 0.85% | REN 0.65% | LIT 0.50%
🔭 Trends I have Noticed 🔭
✅ What to Make of BTC
I’m going to level with you, the next few days are going to be pretty tense. As I mentioned in last week’s crypto review, Bitcoin is on the verge of painting a death cross with its moving average indicators.
Typically, a death cross is seen as a sign that the price is about to crash. However, some news outlets like CoinTelegraph and crypto personalities like Plan B have pointed out that this can sometimes be a contrarian signal. The last two times we saw a death cross, prices actually spiked. In other words, everyone was expecting a crash, but then the opposite happened.
This ties into the Wyckoff (which I strongly recommend you learn about by watching my video). Basically, institutions know what signals the average crypto trader and investor is looking for, and they manipulate prices during key moments like this to shake out the weak hands. I know this sounds like a bit of a conspiracy, but there’s data to support it.
When I was doing research about my upcoming video about lost Bitcoin, I read a study by Chainalysis from last year that revealed that 96% of all crypto traders are retail (i.e. moving less than 10k USD in crypto to and from exchanges).
However, a whopping 86% of all trading volume in any given day is done by so-called ‘professional traders’ which includes institutions. Put differently, less than 5% of people participating in the crypto market account for more than 85% of the trading volume. That’s a recipe for price manipulation.
So, what comes next? Well, the Wyckoff accumulation pattern suggests that we could see a spring (a sudden dip) and this would correspond nicely to the death cross we’re seeing. That said, it is possible to have an accumulation pattern without a spring.
When looking at something like the Wyckoff pattern, you have to focus on the general shape, not necessarily the specifics at play. I’ll be covering this more tomorrow in my weekly crypto review, so hang tight.
✅ Crackdown Continues (Good, Bad & Ugly)
Last week I made a video about the crackdown that was taking place in China on the Bitcoin miners. I made the point about how this crackdown was driving an exodus of miners away from a region that is known to be hostile (and the source of much FUD and volatility).
It seems that this week the trend is continuing. While Sichuan province seemed to be a safe haven for most, they got a death blow as the authorities there told the miners they had to close up shop.
After Xianjing, Sichuan is the second most consequential province when it comes to Bitcoin mining hash rate. It controls 10% of China’s hashrate (which implies over 6% of global hash rate).
But where is a spurned Chinese miner to go?
Well, it turns out that there is some pretty safe turf for them over in the United States. Texas and Florida have been wooing these miners. According to this video on CNBC, they estimate that up to 50% of China’s hashrate could eventually end up in the Lone Star state.
As I mentioned in my video last week, Texas has a power grid that is a lot greener than China’s which means that Bitcoin could be hashed in a much more sustainable way than is being done in China. It’s a win win.
However, things are not all that gravy in the US. There still appears to be this emerging narrative against Bitcoin in the halls of congress. In this case, the attacks seem to be coming from those who should technically be it’s biggest ally – progressive politicians.
I find it quite disappointing that senators like Elizabeth Warren (who has often talked about the ills of banking) is railing against Bitcoin. It is a technology that was specifically developed in order to empower people. A technology that was automatically inclusive irrespective of your race, gender, creed or economic status.
It’s also quite alarming that she is talking up the benefits of CBDCs when these are known to be another method of governmental control. She should also not forget that with a CBDC, a centralised power can do whatever it wants with it. Today it may be your party in power, tomorrow it might be the opponent. We don’t want these dystopian tools.
And speaking of central banks, it seems as if the FED is finally beginning to wake up to the fact that inflation is anything but transitory. This has the Fed talking about moving its “tapering timeline”. This is why stocks took a bit of a tumble together with Bitcoin (risk off assets usually do).
However, there is one very important point to note here…
Given that the Fed has acknowledged that inflation is higher than expected, this could warp inflation expectations. The more people think that inflation is likely to increase, the more they raise prices and precipitate that inevitable inflation. This is part of the reason that the Fed had that dovish tone.
But the cat is out of the bag now. Inflation hedges are in high demand. I still maintain that over the long run, Bitcoin is the best inflation hedge around.
🔝 Top Newbie Tips 🔝
You’ve probably noticed that there’s been a huge decline in social activity around cryptocurrency content. This might give you the impression that we’re entering a bear market, but this is not the case in my opinion.
Now more than ever it’s important to pay attention to what’s been done, not what’s being said. The most colorful example of this is Goldman Sachs’ take on Bitcoin. Early last week, CoinDesk reported that Goldman Sachs execs were saying that Bitcoin was not a viable investment.
However, a few days after that it was reported that they were offering their clients the opportunity to trade ETH futures and options. Then, on Friday, Goldman Sachs partnered with Galaxy Digital to offer Bitcoin futures liquidity for the bank.
Clearly what’s being done and what’s being said are two different things. Follow the smart money.
On that note, you’ve probably seen that whales are continuing to accumulate Bitcoin and Ethereum even with this apparent cliff we’re on with the death cross I mentioned earlier. Perhaps they’re dollar cost averaging, or maybe they know we’re in for a fakeout. This sort of behavior can make you question yourself and your investments.
I know from experience that when I sell one cryptocurrency, I’m tempted to modify the rest of my portfolio. Then after some time I realise I should have just HODLed. This type of market is the hardest to trade, and it’s best to follow the lead of my friend Mad Mike – just ignore the charts.
This can be hard if you’ve invested too much, and remember that if you’re having a hard time coping with crypto stress I have a video that can help with that.
🔥 Deals of The Week 🔥
Let’s be real, those crypto markets may not have been much fun over the past week. But we have to remember that things cannot go up in a straight line forever and that it is those that position themselves well in the more tricky times that tend to reap the most benefits in the good times.
Sure, you could cashout all that crypto or adopt the ostrich technique and switch off completely from the markets until bullish sentiment comes flooding back. Or you could be proactive about things and set yourself up to take full advantage of the crypto rollercoaster when things eventually turn around – I know which approach I’d rather take.
With that in mind, which crypto platforms can you be using now to help magnify those gains tomorrow?
💰 Celsius: Some of you may have foreseen that markets were getting overheated, others envision crypto prices dipping lower. If that’s you; what is a fair strategy to get the most of your portfolio? Well, you could move some of your holding into stablecoins to preserve that value.
But here’s the thing. Despite how your portfolio allocation is sitting, you probably have Bitcoin, altcoins and stablecoins just sitting there in a wallet doing absolutely nothing for you. Sure you might want to do that and just hodl. Or you could put that capital to work by lending it out to earn crypto interest.
Celsius allows you to supply a plethora of stablecoins, which you can earn up to 11% interest on. Even better, you can supply Bitcoin and altcoins and earn up to 17%interest. Oh yeah, that interest is paid weekly and you even have the opportunity to access those funds to take advantage of those strategic opportunities in the markets once you find them.
That doesn’t seem like a bad way to put some of your crypto holding to work and earn you some returns. It also means that you get more crypto to allocate when things turn around too.
👉 Sign up to Celsius & Deposit $400 To Get $50 FREE by using the code HODL50
Want to learn even more about Celsius before jumping in? Well, watch my CEL vid!
📈 3Commas: Most of you have lives away from your computer and I am sure you’ve experienced the frustration of seeing the crypto markets pull massive moves when you have been away from your keyboard. That’s the nightmare of most crypto traders as you have just missed out on a potentially massive trading opportunity.
However, you could sulk and stomp your feet or you could take the more proactive approach and look to automate your trading strategies. That way those trades will execute even if you are swanning around and enjoying yourself.
But how do you do that? Well, you could use a crypto trading bot. Even better, the likes of 3Commas allows you to test your strategies, which allows you to optimize your trading gameplan.
3Commas is the trading software I personally use and now might not be a bad time to get that bad boy setup.
👉 Sign Up To 3Commas For A FREE Trial & Get 50% OFF
Want to see what other crypto trading bots are out there on the market? Why not watch my dedicated trading bot video?
🗞️ Crypto News Focus 🗞️
– Iran & Adoption – Iranian president says he wants to legalize crypto “as soon as possible”.
– Millennial Millionaires – More than a third have over half their wealth in crypto.
– Hedge Funds & Crypto – Survey with 100 hedge funds concludes that CFOs plan to allocate over 7% of their portfolios to crypto.
🔮 Video Pipeline 🔮
🏆 What’s New At CoinBureau.com This Week? 🏆
✅ Hydra Chain Review: The Unique Economic Blockchain
✅ How to Mint NFTs: The Complete 101 Guide!
✅ Ethernity Review: Exclusive Authenticated NFTs
✅ Arweave Review: Permanent Decentralized Storage
That’s all for this week’s newsletter guys. Sorry that I could not bring you a video today but that’s out of my hands!
However, I still need to thank you for all your amazing support and for giving a damn about my thoughts and insights on these markets.
The truth is that I never expected things to blow up like this. Honestly, I initially thought that the idea of having 10,000 subscribers would have been a marvellous achievement.
Flash forward to today and I still can’t believe how things worked out and that’s all thanks to you. So the very least I can do is to ensure that myself and my team don’t rest on our laurels and that we keep raising that bar to bring you even better crypto content.
I’ll do my best not to let you folks down there.
For now, I hope you have a great weekend!
Guy your crypto guy
Disclosure: Authors may own cryptoassets named in this newsletter. These are unqualified opinions, and a Coin Bureau newsletter, is meant for informational purposes only. It is not meant to serve as investment advice. Please consult with your investment, tax, or legal advisor.