🧘♂️ALERT: Turning $30k to $200k
Market Meditations | November 25, 2021
True Crypto Stories Revealed!
Dear Meditators
To our friends in the United States, Happy Thanksgiving! A special day calls for special updates.
Today’s Meditations:
Top 4 Crypto Headlines
Crypto Stories: How They Made Their Fortunes
The Latest on MANA
Our Financial Education Puzzle
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⏰ In A Rush?
? Decentraland’s MANA Token Hits All-Time High After Sale of Virtual Real Estate
? MoonPay has quietly set up a concierge service to help celebrities buy NFTs
Our Market Meditations are longer format educational segments. Each letter features a Market Meditation which will deep dive and analyse a relevant crypto event, theme or tool.
? Gather Around, It’s Story Time
Over the last week, we asked members of our premium community to share their crypto stories; how they took control of their financial destinies and paved their own success and riches. Below are our top 3 stories:
STORY ONE – @frenchfluency
Last week, I turned $1000 into $3300 in just 5 days. I traded high-performing altcoins, AVAX & CRO, and used fibonacci levels to set my entry, exits and stop losses. I learned all of this from Koroush AK and the Market Meditation community. I’m still at the beginning of my journey and I can’t wait to see how much I can still improve. STORY TWO – Anonymous
Started in 2017, got my portfolio to €50k and lost 80% of it in 2018. Since then DCA'd a bit, lost a bit of interest until mid 2020. Since then I got into small caps, staking, NFTs, etc. Started actively trading and discovered how difficult it is. Now I consider myself mostly an investor rather than a trader. Best bet: bought Solana under $2 :)STORY THREE – Anonymous
I made $200,000 in crypto, I started investing in late 2017 and survived the tough bear market. In early 2018, I invested $30,000 in Crypto mining, although I lost it all as I was stuck in a couple of property renovations so the cash flow went really dry & I had to close the project. I kept learning about crypto, trading, mindset & dollar cost average. Finally the bull market made $200,000 for me (that even after losing a couple day trading losses of $10,000 & $22,000). What can we take away from the meditator’s stories?
Persistence.
Crypto investing is not an up only pursuit. Notice how successful individuals also experience losses (sometimes 80-100%) and this is not enough to tamper their conviction. They maintain their belief in crypto and in themselves.
In fact, many individuals notice that more bearish conditions are perfect opportunities to position themselves for the next bull run.
Identifying Opportunities.
Whether it is trending altcoins such as AVAX or CRO or certain sectors of the crypto universe like mining, make sure to do your research and to bounce ideas off of crypto communities.
One such community is available as part of our premium service, link here.
Range of Strategies.
You can make your success from a quick trade as we saw in Story One or you can DCA across years.
There is no right or wrong method, simply find the one that suits you best and commit yourself to it.
? Rich Dad, Poor Dad
Many people cite Robert Kioysaki’s Rich Dad, Poor Dad as their introduction to their financial education.
Which one of these two tips does Kiyosaki mention in his book?
Minimise Income and Maximise Expense
Maximise Income and Minimise Expense
?No Black Friday Deals on These NFTs!
With crypto prices still fluctuating, once again we have NFTs making headlines.
Since Facebook announced their re-branding to become Meta, there has been renewed excitement about the popular metaverse – Decentraland.
Earlier this week, it was reported that a piece of land sold for $2.4 million!
A subsidiary of Tokens.com called the metaverse group “bought a patch of real estate for 618,000 MANA on Monday which was $2,428,740.
The land that they purchased is in the Fashion Street area. This land will be used to host digital fashion events and sell virtual clothing.
These purchases will look like no brainers in hindsight insofar as Decentraland continues to grow and more people go into and interact within that multiverse. But even if Decentraland grows, it may not be trivial as to why companies or investors would want to purchase land so let’s take a look at the top 3 reasons why it may be beneficial to buy land!
Ability to sell NFTs as well as put on special events within the metaverse.
Can generate revenue through leases and rentals of your land.
One can also sell advertising space.
Virtual real estate prices are beginning to rival real-world real estate prices and for good reason! We should remember to zoom out and think about where we are headed.
1. Minimise Income and Maximise Expense
Yes you heard that right! It was Kiyosaki’s poor dad who thought to maximise wealth: we need to maximise income (through hourly wage) and minimise expense. Yet his rich dad thought the opposite.
Although this may seem counterintuitive there is in fact some strong logic behind it. Hear us out…
Kiyosaki promoted investing capital rather than maximising hourly wage. This means eventually your money will work for you.
When he talks of increased expenses it’s important to have the right expenses such as going to a seminar, learning a new skill, buying a new book.
Interested in finding out more about the lessons Kiyosaki has learned? Then check out our review of Rich Dad, Poor Dad.
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??♂️✍️ Stories in this newsletter were written by Misael Calleja, Nick T., Max P., Kimia K., Ellen B. and Koroush AK. Graphics were produced by Gerasimos P.
Not financial or tax advice. The content in this newsletter is for informational purposes only. Nothing in this email is intended to serve as financial advice. We are not financial advisors. Every investment and trading move involves risk. Do your own research when making a decision. See our important security disclaimers here.
Disclosure. Some of the links we’ve included are affiliate, they give you rewards and discounts and earn us a commission. Additionally, the Market Meditator writers hold crypto assets. See our investment disclosures here.
