Morning everyone! You can tell we are in a bull run as all of the mainstream press has turned wildly optimistic! Nobody knows what is going on in the crypto world so they wait for the price to tell them what to write.
The Family Connection
We got sent this one via a family WhatsApp group. We think the chart on the left is the Nasdaq during the dotcom boom. We have no idea what the chart on the right is but it probably charts that thing that you are already invested in.
Memes like this are playing on your emotions and on your ability to recognise patterns. These things are designed to generate Fear of Missing Out (FOMO). Everyone wants this to happen to their investments so that they can sell out at the top.
Be careful. Always invest for the long term. Don’t try to time the market.
Mastercard Delivers
Mastercard knows how to get us hot under the collar. Hinting at crypto payment system for all of its 767 million users is definitely the way to get us going.
This comes 4 years after the Mastercard CEO attacked cryptocurrencies
Like domino’s all these big corporations are falling to Bitcoin.
Pro Shares Bitcoin ETF launched Last Week
Last week the US Securities Exchange Commission (SEC) gave the green light for a Bitcoin ETF to be launched. This was a big deal because it is the first one in the US to be approved.
The Pro Shares ETF buys and sells Bitcoin futures and its popularity will not impact the price of Bitcoin. It is a step in the right direction though.
There are a number of Spot ETF’s (ETF’s that will buy and hold bitcoin) that are awaiting approval with the deadline for a decision coming in December. If a Bitcoin Spot ETF gets approved you better hold on to your breeches.
Billionaires Talk About Inflation
Inflation is the rate at which your money loses value of time. The higher the inflation rate the faster your money loses value. Check out the tweets for more information around the topic.
Until Next Time
The Wealth Gap