It’s been a turbulent week for crypto and we wanted to do something different for the community. Our main feature is therefore a personal note from Koroush AK on How To Get Rich With Crypto.
Top Crypto Headlines
How To Get Rich With Crypto
6 Crypto CEOs Testifying
Magic Eden x OpenSea
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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.
💎 How To Get Rich With Crypto: A Step by Step Guide
Written By Koroush AK
“So it’s called Ethereum and it’s like the next internet” - my good friend from the banking world told me this in late 2016. That’s where my journey began. I was determined to make the most of this crypto opportunity.
Eventually, I discovered Technical Analysis. After 6 months of obsessive study and practice it became my guiding light to navigate trading, investing and crypto.
By the end of 2017 I had turned <$1,000 to 7 figures.
Thanks to my obsession with risk management, I kept most of it during the 2018 crash. More than just keeping my profits, thanks to my disciplined approach to trading, I was also still able to capitalize off of the market.
At the same time, most of the influencers I looked up to and project founders in the space disappeared as soon as the tides turned because of a “lack of opportunity”.
“Okay, I’ll show them how it’s done” - I thought. I created a twitter account and started sharing every single one of my trades during a bear market, turning $30k to $50k live in 30 days.
I got a lot of attention and questions. Learned everything I knew for free online, so I had to give back. Spent hours everyday teaching and helping others. It was nice, made trading less lonely. Decided to stay for the next 3 years.
Fast forward to the end of 2021. I’ve been trading for nearly 5 years. Been through 2 of the biggest bull runs history has ever seen and come out heavily on top each time. My trading isn’t special by any means. My advantages have been luck, discipline and hard work. Everyone is capable of this.
I’m now on a mission to give back to the community that has done so much for me.
I’ve set out to achieve this by creating a TOP quality trading course with assignments, reading materials and assessments that covers everything you need to know from beginner to advanced. The course includes:
On Chain Analytics
And Much More...
The best part? I’m giving it out for free. The community deserves access to this information. This usually costs $2,000+ dollars. I’ve seen them go as high as $20,000.
We’ve just finished the Technical Analysis section of the course. Start your journey, it’s worth it I promise. Link here and below 👇
🔎Crypto Lacks Clarity
On Wednesday, six cryptocurrency industry CEOs testified before Congress to advocate for the future of blockchain technology.
Congresswoman Maxine Walters (D., Calif.) called for the hearing to improve lawmakers’ understanding of digital assets and their implications for regulation moving forward.
The list of testifying executives included names from Coinbase, Bitfury, Paxos and Sam Bankman-Fried of FTX.
The main theme of the testimony offered by six different crypto CEOs continued to be a request for the industry to receive custom legislation, instead of being forced into existing regulation, which could have major unintended backlash.
Rep. Brad Sherman (D., Calif.) expressed reservations about cryptocurrency use-cases and urged regulators in the case that Congress fails to pass acceptable legislation.
Regulators and legislators are finding themselves with their backs against the wall.
While the crypto industry continues to expand, its lobbying presence in Washington sustains growth, finding more Republican allies than Democrats.
Crypto continues to make progress and is starting to garner increasing momentum from politicians becoming educated in the industry.
🥗 Under the Sea, the Magic Garden of Eden
Markets may be in a sea of red, but there are still some interesting things happening under the sea.
OpenSea may have taken 99% of market share on ETH but Magic Eden, a newer marketplace on Solana, is outpacing OpenSea as far as transactions are concerned, with only half of the monthly users.
It appears that Magic Eden users transact 3x as much as OpenSea users.
OpenSea transactions could begin to decline, especially if they move forward with possible plans for an IDO into traditional markets and not an airdropped token to users who have driven the platform’s recent success and riches.
If you’re looking for projects about to drop on MagicEden, you can check their Twitter profile for those they are most excited about, such as GooneyToons. Playground_Sol and the Catalina Whale Mixer.
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.
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