The Sunday Shill
It is not the most glamorous week to start a weekly article called “The Sunday Shill”, but I have to do something in self-quarantine so let’s see what I can muster.
The year/week so far
Another week in crypto and I had hoped that I wouldn’t need to say this for another two years, but again there is blood in the streets. Three months in and personally I am ready for 2020 to be over. First, the Amazon and the Australian east coast go up in flames, Kobe (RIP), Prince Harry leaves the royal family! and now COVID-19.
What makes it even worse is that crypto was off to such a promising start to the year. With BTC coming off a 120% increase in ’19 and a bunch of alts having incredibly bullish years (shout out to LINK Marines) it was looking like 2020 was to be the end of crypto Winter and the start of a crypto Spring. We were approaching another bull market to take us through to ’22. But then some guy went and fucked a bat and ruined it for everyone.
But do you know what makes it sting a little more? The fact that it looked as though the BTC coming of age, safe haven narrative was unfolding. While traditional markets dropped 20% crypto was looking like it was holding it together, though it dipped it wasn’t plummeting like we have seen in the past. But then the evening of March 13th happened, an evening that had not been felt in crypto since ’13. Within half an hour BTC had dropped 2k and the rest of the market went with it. Fuck you, bat fucker.
The Silver Lining
However, there is a silver lining to this dump and it is a term that floods Twitter every time the market dips and that is “FIRE SALE”! Get these crazy discounts while they last! 50% off BTC, 70% off ETH, 40% off LINK. These prices pretty much sell themselves!
Sell your car, mortgage your house and hit the street corner, whatever you can do to stack some sats and accumulate, do it (Now might be a good time to mention this is not financial advice).
Though the charts are full of giant green dildos today. I have a feeling these are just a bunch of dead cats on the bloody streets. So this Fire Sale is going to be around for a while.
For those of you that have a fat stack of USDT or a fresh wad of fiat ready to throw into crypto. Here is the shill, this lovely little read pretty much lays out the facts and the facts are clear — buy crypto low and sell it high in a few swift moves.
Many exchanges are ripping you off. When the article was written they found that there was about 2.6%, roughly a $200AUD price difference in BTC between the major Aussie exchanges when compared to Mine Digital (after fees and transfers between exchanges).
The opportunity here is pretty simple. Buy low, sell high. Buy your BTC from Mine Digital and sell it back to the other exchanges and BOOM! You can now go tell all your friends how good a trader you are. Obviously there are some risks. This is trading after all and trading at the end of the day is just risk management (or so I’m told). I am not going to list the risk because hopefully you take 3mins out of your day and read that article, it’s all there and the opportunity is as clear as a 17 hour Scandinavian day.
You have heard it many times before, but this very well could be your last time to accumulate at these prices. We are in the first innings of this financial crisis and crypto looks like trash right now, but so does every other market. I know a lot of you (me included) were hoping the safe haven narrative would hold up, but everyone panicked and shat the bed (It happens).
Right now with COVID-19 people want their money in cash so they can buy food and pay rent. But when the dust settles on that, stocks and banks are going to continue to look pretty unpredictable. So now crypto has matured, we could see everyone making a run from fiat and the traditional markets and if that is the case, crypto can turn up real quick.
It is really just a matter of time. So DYOR on the best exchange and keep accumulating.