Crash or boom?
That’s all I hear nowadays. Seems like many people are wondering whether bitcoin will go up, how hard altcoins will dump, and when the hell “institutional investors” will arrive.
Don’t sweat it! Bitcoin is a lot of boredom punctuated by moments of terror and ecstasy. If you’re following my plan for bitcoin’s bull market, you bought bitcoin when its price was between $5,400 and $7,800. Now, you’re waiting for the dip.
The question is, do prices shoot up before they drop? Or drop before they shoot up?
Lots of smart people disagree on which direction we’re going. Bitcoin does whatever it wants. Altcoins follow its direction. We’re just along for the ride.
DeFi explosion
This month, decentralized financial products took up all the headlines. People have locked up over $1.5 billion worth of cryptocurrency and stablecoins in liquidity pools, mostly over the last month.
As I mentioned in one of my video updates, I’m researching low-risk ways to use DeFi in a way that helps us make the most of the bull market. In the near term, you can get pretty amazing returns for depositing your crypto with platforms like Compound or Celsius Network.
(If you missed the $10 bonus for depositing $200 crypto with Celsius, use my referral link.)
These spreads are great but they won’t last. As lending platforms build deeper liquidity pools, they will not need to offer such impressive returns. Long term, I’m looking for more substantial and significant ways to leverage DeFi for our benefit without adding much risk. Stay tuned for that (could take a little while).
What you missed in June
Interview With Hanna Hajjar, Bitcoin Derivatives Fund Manager
Airdrops
Market Updates
Briefs
What to expect in July
More perspective on the global financial crisis and what it all means for bitcoin and altcoins.
Bitcoin and altcoin market updates.
An altcoin recommendation I’m incredibly excited about.
Updates to My Plan for Bitcoin’s Bull Market.
My prediction for how long and how high bitcoin’s bull run will go, and why it will end with the final, most monumental altseason ever.
Complacency Kills
One final note.
It’s easy to forget how small and insulated the cryptosphere is.
When you take a wider look, you can see the global debt markets remain incredibly risky and the overall economic picture remains gloomy. In the U.S., 40 million people remain unemployed and many furloughed employees will never return to their previous jobs. We’re on course for over a half-million deaths from COVID-19. Numbers have risen so quickly in June that our front-line responders worry we will soon see dead bodies piling up in hospital closets and morgues again, as we did earlier this year.
In the midst of this turmoil, we have the luxury of talking about bull markets and 100x returns on altcoins. Perhaps we’re lucky.
Worry about yourself, your friends, your family, and everything else that matters to you. When it comes to cryptocurrency, relax and enjoy the ride!
June Recap, July Preview for Crypto is Easy