Woof! This is Ponder Crypto!
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Our crypto newsletter is like Lady and the Tramp's spaghetti — it'll bring you closer to financial love at first bite!
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📈 Crypto Market Continues to Thrive
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🚨 Bitcoin is the Best Performing Asset in Q1
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📰 Crypto Chronicles 2023: Week 14
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🎥 This Week on PonderTube
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📈 Crypto Market Continues to Thrive
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- Bitcoin is up 69% YTD
- Ethereum is up 55% YTD
- Hell... even Solana is up over 100% YTD
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We all know Big Daddy Bitcoin still drives the crypto space, so let's take a look at its chart:
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What we are seeing right now is Bitcoin aggressively trading at a critical resistance level of around $29,300 with a current floor of $24k.
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I expect it to stay in this range for a bit, but my gut tells me not for long.
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A couple points to consider:
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When we finally break through current levels, expect a quick climb to around the $35k price point.
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Looking at the broader crypto market, we see a similar story in terms of trading at a key resistance.
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Currently, the entire crypto space is sitting around 1.147 Trillion dollars in value.
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To put that into perspective for the people who still wonder, "is it too late to invest in crypto?", these are the companies worth more than ALL of crypto combined.
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- Apple - $2.6 trillion
- Microsoft - 2.1 trillion
- Alphabet - 1.4 trillion
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Individual companies are worth more than the entire crypto space!
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We are still very early, and the next bull market is just getting underway.
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Not Financial Advice ... 🤞
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🚨 Bitcoin is the Best Performing Asset in Q1
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In the world of finance, 2023 has been quite the rollercoaster ride.
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This past week, we locked in 2023 Q1 returns for all major global assets, and guess who took the number one spot?
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This IS a crypto newsletter, so easy on the brag...
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Amidst a banking crisis that saw high-profile collapses like Silvergate Bank, Silicon Valley Bank, and Signature Bank, Bitcoin emerged as the superhero of the story.
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Not only did Bitcoin have the largest returns, but it was also the ONLY asset that had a greater Q1 return than its volatility percentage!
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- Bitcoin's price appreciated higher than the amount of price movement it had (higher and lower) over the quarter.
- Demand for Bitcoin drastically outpaced sellers compared to every other asset class.
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People across the globe are starting to understand where the issues lie in our traditional financial systems and are actively seeking ways to protect themselves.
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However, an interesting observation from the chart shows that silver remained stagnant, failing to appreciate in value, while gold trailed behind both the Nasdaq and S&P 500 in terms of performance.
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Considering that Gold and Silver are often turned to when economies look a little rough around the edges... Bitcoin drastically outpacing both may signal a changing of the guard.
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The key takeaway: Bitcoin is here, and it's not going anywhere. Demand is growing. Knowledge is growing. People are actively seeking ways to protect their financial freedoms. In a world that is becoming more and more digital by the day, turning to Bitcoin is a no-brainer.
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📰 Crypto Chronicles 2023: Week 14
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Top stories you should know this week.
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Brief Summary: The Federal Housing Administration (FHA) is increasing the maximum term for mortgage modifications to 40 years or 480 months, up from the previous limit of 30 years. This change aligns FHA with Fannie Mae and Freddie Mac's loan modification options and aims to help homeowners retain their properties after defaulting by reducing their monthly payments. The Mortgage Bankers Association (MBA) welcomes the change, stating that it will provide borrowers with additional tools and improve consumer experience during adverse market conditions. The FHA believes the extended term will result in more sustainable monthly payments and foster homeownership while mitigating losses to the Mutual Mortgage Insurance Fund. Although research indicates that borrowers may pay significantly more in interest on a 40-year mortgage, monthly payments would decrease, offering relief to struggling homeowners.
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Ponder Crypto's Take: Along with 8-year car loans, bumping up mortgage loan durations was inevitable. Sure, it is a way to reduce your monthly payment, but guess what it does to the total loan payout? Let's take a 300k fixed-rate mortgage at today's 6% rate.
- 30-year Mortgage
- $1,798 monthly payment
- $347,514 loan payoff amount
- 40-year Mortgage
- $1,650 monthly payment
- $492,307 loan payoff amount
You'd pay $150 less per month, but it would take you an additional 10 years to pay off the loan while adding $150k in added financing costs. Pretty soon, families will be passing down mortgages as an inheritance, and only having 20 years left to pay off a mortgage will be middle-class flex.
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Brief Summary: Swiss government-owned PostFinance is partnering with Sygnum Bank to provide its 2.5 million customers access to cryptocurrency services. As Switzerland's fifth-largest financial services firm, PostFinance will enable users to buy, store, and sell leading cryptocurrencies like Bitcoin and Ether, with more tokens to be added in the future. This move comes as retail banks in Switzerland experience significant outflows into the digital asset class. PostFinance aims not only to generate a new revenue stream but also to retain its clients by meeting their growing demand for access to the digital asset market. The partnership with Sygnum Bank, a regulated digital asset services provider, ensures a reputable and established crypto service offering for PostFinance customers.
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Ponder Crypto's Take: Ah, the good old days when money played musical chairs within the banking sector, circulating like a makeshift water-cooled PC. But then, crypto barged in and showed banks and countries that cash could escape their clutches and frolic in the digital wild. By grudgingly offering crypto services, these banks manage to profit from the insatiable demand and keep a firm grip on the money, like a toddler refusing to let go of their favorite toy. While these services might tempt many, remember that self-custody OUTSIDE the banking system is the only way to keep your assets safe from these ever-clinging claws.
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Brief Summary: As crypto de-banking concerns rise, Coinhub steps in with an ingenious solution, partnering with over 1,000 gas stations and store owners to install crypto ATMs for seamless cash transactions. This strategic move expands Coinhub's reach, provides user convenience, and offers store owners a passive income opportunity. These ATMs, placed in high-visibility areas, enable hassle-free crypto purchases and promote anonymity, making them an attractive alternative to traditional exchanges. Amid the increasingly hostile industry landscape and global banking struggles, Coinhub's initiative to add at least 1,000 new ATMs serves as a beacon of hope for crypto enthusiasts seeking a more accessible and secure means of acquiring cryptocurrencies.
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Ponder Crypto's Take: There is a real fear that a method of attack on the crypto space could be to eliminate the on/off ramps connecting crypto to the traditional finance world. If banks block every user from transferring money to a crypto exchange, then buying crypto could be rather difficult. I love that more crypto ATMs are being deployed to provide alternative means to acquire Bitcoin and crypto. These ATMs will also bring more awareness to the public. I've had so many people stop me and tell me in a shocking tone that they actually saw a Bitcoin ATM "in the wild."
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Brief Summary: The Cato Institute, a Washington, D.C.-based policy research think tank, warns that a United States government-issued central bank digital currency (CBDC) poses a significant threat to citizens' privacy and the free market. In a strongly worded report, the institute urges Congress to prohibit the Federal Reserve and the Department of the Treasury from issuing a CBDC in any form. The Cato Institute's concerns center on potential tracking and control, destabilization of the free market, and cybersecurity. They argue that the private sector's decentralized nature offers more protection against breaches than a centralized federal government system. As the debate surrounding CBDCs heats up, the potential risks to both individual users and the government's political opponents cannot be ignored.
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Ponder Crypto's Take: If you see the government offering you $20 in Taco Bell credits if you open a FedNow account... RUN! CBDCs will give the government FULL CONTROL of your financial freedoms. They will sell it as something else, but don't let them fool you. I am happy to see more public opposition, but I worry that this type of program will be rolled out and become ingrained in a large portion of society before they realize what it truly is.
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Brief Summary: El Salvador aims to stimulate economic growth and tech innovation by proposing a new law to eliminate income, property, and capital gains taxes on technology innovations. This initiative supports the development of software programming, coding, apps, AI, and hardware manufacturing, while also promoting the use of cryptocurrencies, particularly Bitcoin, in the country. With the establishment of the National Bitcoin Office of El Salvador and the introduction of 'volcano bonds,' the government seeks to rebuild the national economy and develop 'Bitcoin City,' a metropolis powered by geothermal energy. President Nayib Bukele's efforts to reinvent El Salvador include fostering investment, boosting tourism, countering terrorism, and building business hubs to enhance the country's global competitiveness. The law will be overseen by the Ministry of Economy and enforced by the Ministry of Finance.
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Ponder Crypto's Take: When one country takes an opposing stance, that opens the door for another country to capitalize and embrace innovation. The US is on the verge of pushing away an entire market that could dramatically increase our GDP and make us the central hub for the new FinTech revolution that is here to stay. By regulating crypto into the ground, crypto will not die; it will simply find a home under one of the many jurisdictions that are embracing the technology.
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🎥 This Week on PonderTube
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Why the US Debt Spiral Can't Keep Growing for Much Longer
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The national debt, you know, that hockey-stick-looking chart that goes up and to the right extremely aggressively? It is currently sitting at 31 trillion USD. Most people would admit that the pace at which our national debt is accumulating and the pace at which the expenses for the United States are increasing is unsustainable. But nobody seems to want to do anything about it.
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This begs the question, exactly how unsustainable is this really? Because if this were something that was going to spell financial disaster within the next 1 to 2 years, then you would expect that there would be something somebody would be trying to do about it.
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Petrodollar COLLAPSING With New China Deals
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Krystal and Saagar discuss how China is making big moves to break the dominance of the US dollar on the world stage.
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Why couldn't the Bitcoin hear the dollar?
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Because the dollar was in debasement!
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This is not financial advice. I am merely stating my own opinion on how I am perceiving the current market structure and conditions. Consult with a legal investment advisor and all the other good legal stuff that needs to be said.
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Disclosure: All content shared in the Ponder Crypto website, newsletters, video channels or any other medium are for entertainment purposes only and should not be received as legal or financial advice. We are not legal experts or financial planners so please, exercise proper due diligence and do your own research.
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