Newsletter #300 - You Have Been Liquidated!
Hey Shitcoiners,
Welcome to the 300th edition of the newsletter! To celebrate, the market decided to give us a spicy week. But not the good kind of spicy. Keep reading to hear about the catalysts which caused this sell off and plenty of reactions. It has been a wild week.
Before we get to all of that, Arthur has a message for you. Buy the fucking dip.
If you want more insight into why Arthur is bullish, check out his latest article “Zoom Out”. Here’s a snippet for you to fill you with hopium, “I believe fiscal and monetary conditions are loose and will continue to be loose, and therefore, hodl’ing crypto is the best way to preserve wealth.”
So what caused the panic selling? Two particular events this week sparked the rapid decline of your portfolios. Rumours have been circulating for months that the Mt Gox coins would be distributed soon. Coins began moving from cold storage.
But that wasn’t all. You might have heard that the German government are selling off some of their bitcoins. The sales are still ongoing and many are not happy about what is going down. Are they fumbling a multi-generational wealth treasury bag? One German MP thinks so.
Justin Sun is a man of the people. The former ambassador is happy to scoop up that BTC!
The Fear & Greed Index dropped to lows not seen since the 11th of January, 2023. RIP.
It is not looking pretty out there. If you are playing with leverage, godspeed.
Send help.
Remember those gains you had a few weeks ago? Well, they are no more.
Have you been talking about buying a second home with your significant other? That might not be happening either.
Oh, and your 4th of July plans were naturally in tatters. Inverse fireworks were happening on your screen. Those red candles were quite the spectacle!
Here’s a trip down memory lane for you. We remember.
Maybe you don't need the anxiety.
If only we had all just bought tech and semiconductor ETFs instead! Mom would have been happy.
It is going to be okay.
Now that’s enough doom posting for now. Here’s something more optimistic. Check out the latest episode of Wage Cucking With Jmo! This week he caught up with Matt from Tapioca. If you dabble in a little DeFi, you won’t want to miss this one.
No one wants to get it wrong when it comes to DeFi, it could paint a target on your back with Uncle Sam. Andrew Tate is either going to make generational wealth or end up with never ending legal battle.
If Andrew doesn’t think they will come after him, he should take a look around. Many others are feeling the heat.
You might have read in a previous edition that Jesse Powell donated to Trump. Here’s some more information on why Jesse thinks he’s the man for the job. Single issue voters unite!
We love when this meme resurfaces with a new twist. Check this iteration out and learn what creates bear markets. Then go and take a look in the mirror. Did you do this to yourself?
“Sell in May and go away” is a tough rule to live by. However, it might have been wise to take a note out of Arthur’s book and take a holiday. You could have also been “excellent”.
And that's all for this week! See you next time.
Team Shitcoin.com
