This entire weekend was an absolute sh*tshow for Bitcoin – but in a good way. The frantic updates from ZeroHedge were a sure indicator for this, as they published THREE articles over the course of three days on the erratic moves of the cryptocurrency.
On Friday morning, they wrote the following:
“Crypto enthusiasts got another early Christmas gift overnight as Bitcoin surged to new record highs, topping $24,600 for the first time ever…
The driver of this move appears to be more institutional interest as CoinTelegraphreported, while not proven, single large outflow spikes suggest that a buyer has purchased a large amount of BTC and the proceeds are being moved to a single storage wallet.”
And then we had this update on Saturday:
“It seems like only yesterday, Bitcoin was trading at $24,000… And now, as short liquidations accelerate, the leading cryptocurrency is rapidly approaching $27,000…
As CoinTelegraph notes, according to data from Bybt.com, more than $131 million worth of Bitcoin futures contracts were liquidated in the last 24 hours…”
Following that, this final story was published last night:
“Bitcoin has been stealing the spotlight in recent weeks as it has soared to record-er and record-er heights, but overnight saw a ‘regime-shift’ as Bitcoin topped $28,500… before crashing over $2,000 lower, only to be bought back…”
Just imagine that… going from nearly $20,000 to $28,000 over the course of 72 hours, only to remain flat (for now) at ~$27,000 at the time of this writing. As Yahoo! Finance notes, this was a historic run for Bitcoin:
“Bitcoin is on track for its longest monthly winning streak in more than a year after touching a record above $28,000 over the weekend. The largest cryptocurrency reached an all-time high of $28,365 on Sunday before paring some of the advance… The run of outsized returns over October, November and December so far is the longest such stretch since mid-2019.”
But don’t be quick to whip out your crypto-wallets and start buying Bitcoin like there’s no tomorrow.
As Bloomberg correctly points out, this massive surge in upward movement could be attracting the eyes of regulators. $350 billion in market capitalization for an unregulated asset is not something that those sitting in the chairs of regulatory oversight like to see.
For all we know right now, Bitcoin could experience yet another crash and have the “buy and hold for dear life” investors losing their minds yet again. And with the increasing amount of interest from institutional banks and investors, there’s no telling what could happen to Bitcoin in 2021.
It’s entirely possible at this point for Bitcoin to cross the $30,000 mark and go further beyond.
It’s also possible that something under a Trump administration or Biden administration could happen, leading to the beginning of the end for what many people perceive as a decentralized financial instrument.
What do YOU believe will happen to Bitcoin over the course of 2021? Will it continue to go up or down, and will it get regulated by Big Government? Reply to this newsletter and share your predictions with us!
Our Poorest Days May Be Ahead of Us in 2021…
ZeroHedge is once again ahead of the curve when it comes to predicting what will happen in the future. Even with the COVID-19 vaccines and the stimulus bill being funded by non-existent money (that’s the power of a nation under $27.5 trillion of debt), 2021 will NOT start off on a high note:
“A new survey [from OnePoll] finds over half of Americans (55%) consider 2020 a personal financial disaster.
Among employed respondents (59% in total), seven in 10 say they need a raise at their job in order to make ends meet. Sixty-two percent plan on taking on a second job in 2021 to meet their financial goals next year.
One-in-seven renters with family incomes from $35,000 to $100,000 were not current on their rent in November. The overwhelming majority of these renters – 79.9% — expected to face eviction within two months.”
This was coupled with comments from billionaire and Shark Tank investor Kevin O’Leary, who noted that over 100 million Americans do not have any kind of retirement account, nor anything set aside for eventual retirement.
Our darkest days may indeed be ahead of us, according to President-elect Biden, but at this point, it won’t be because of COVID-19. It will be entirely due to what the restrictive lockdowns have done to our bottom line…
Freelance Writing: The Best Job for a Post-Pandemic World?
For those of us seeking out new income streams, “recession-proof” is at the top of our minds. We want something that will bring in the big bucks no matter if the economy is booming or busting, and something that allows us to earn a living without having to rely on being physically present for a 9-5 shift.
According to The Financial Post, being a freelance writer is one of those jobs:
“One of the fastest-growing sectors in today’s global business landscape is freelance writing. More businesses are looking to lower their overhead, and in turn, are outsourcing a large portion of their staff. The digital age is redefining how stakeholders do business.
Most in-house teams are smaller than in previous years. For example, content marketers tend to work on a team of one to three people: typically a writer, an SMM manager, and an SEO manager. Due to a lack of resources, 40% of companies now have to outsource content creation as the need for content marketing is growing.”
According to The Balance SMB, the average salary for a freelance writer is around $45,000 (or roughly $40/hour). However, there are several freelance writers who have learned the art of negotiating and skill-building, which allows them to make upwards of $100/hour – and much more – if they play their cards right.
All you need is a laptop, an Internet connection, a good sense of professionalism, and the skills needed to deliver results to clients. I’m not saying that YOU have to be a freelance writer, but with all that’s going on in the world, it’s a damn good sell!
How Multi-Millionaires Are Putting Their Money to Work in 2021…
While some of us are making plans for survival in 2021, the multi-millionaires are looking to become richer than ever. More specifically, the members of TIGER 21 where each individual has a personal net worth of $10 million to $1 billion.
TIGER 21 founder and chairman Michael Sonnenfeldt wouldn’t allow his individual members to be interviewed out of respect for their confidentiality, but he was nice enough to talk with CNBC and share some of the general trends he’s observing right now amongst group members:
“…work-from-home has already created a huge ripple effect that will impact the stock market and the real estate market for years to come — starting with a booming technological sector as companies rush to meet the needs of our era.”
He also predicts major changes in real estate. “Many TIGER 21 members have opted to move to areas with lower cost of living now that they’re not expected to show up to work in-person every day. This is pulling major traffic away from the bicoastal hotspots, New York and California.
On the residential side, however, historically expensive cities are more attainable than ever before. If you dream of living in New York City, now might be the time to buy an apartment, or at least take advantage of reduced rent.”
In other words… reduce your own personal expenses, while taking advantage of possible short-term moves and long-term moves. Make money right now with the trends already exploding (and will likely continue to do so), while betting big on inevitable movements with no clear date for generating a respectable ROI.
Must be nice to make these kinds of moves when you’re sitting on a boatload of cash!
20% of ALL BMW Vehicles Will Be Fully Electricity-Powered by 2023
As Tesla closes out the year with record profits and sales, other car companies are eager to get a piece of the electric vehicle industry. BMW happens to be one of them, according to CEO Oliver Zipse:
“We are significantly increasing the number of electric vehicles. Between 2021 and 2023, we will build a quarter of a million more electric cars than originally planned.”
If you do the math, 8% of BMW’s entire arsenal of automobiles are currently powered by an electric engine. In less than 3 years, that number will go to 20%. Unless they can match up their car production with some respectable level of convenience (i.e. being cross-adaptable with Tesla charging stations or having their own), they will never become a viable competitor:
“15,000 private and about 1,300 public charging points would have to be put into operation every week as of today. Unfortunately, we are a long way from that.”
They won’t be the only ones attempting to reach this ambitious goal. We’ve heard an awful lot of news this past year about traditional car companies taking a strong interest in electricity-powered cars, both in the US and the rest of the globe.
Either Tesla continues to be the monopoly of the industry, or they end up having some serious competition for the #1 spot. Let’s see what happens!