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Chart of the Week + Who Killed the VIX

 
   
     
   
 
FEB 23 2023
 
   
JEFFREY TURNMIRE’S CHART OF THE WEEK
Pole Position for Bitcoin’s 5th Halvening
 

Blockchain is more than code – it’s digitized economics.

Protocols like Bitcoin, Ethereum, Cardano, Filecoin, Zcash, etc. use economic incentives to monetize the value of the work performed on their network. With the right incentives, the token or cryptocurrency then acts as a conduit to monetize that value.

For Bitcoin, that incentive is block rewards. Solve the riddle, get some Bitcoin. Easy peasy.

Well, not easy. Unless you find ASIC chips running bare-metal code solving a mathematical riddle with more possible solutions than there are atoms in the universe, simple. But I digress…

In any case, the incentives that support the Bitcoin network are clear and powerful.

The first Bitcoin mined – known as the genesis block – resulted in a block reward of 50 Bitcoin. 

The code governing the network halves that reward every 210,000 blocks – or roughly every 4 years. 

We’re rapidly approaching Bitcoin’s 5th “halvening,” taking the block reward down from the current 6.25 Bitcoin to 3.125. Which, at current prices represents an $80K haul for the miner that wins the block.

These milestones along the road to a max 21 million Bitcoin supply never fail to pull more investors and HODLers into the world’s top crypto. 

With the next halvening slated for March 28th, 2024, we’re at the cusp of yet another cycle of growing interest in crypto.

You can expect countless opportunities to come along during this cycle. One of which showed up this week is ANKR.
 
 

Every week, I give updates on ANKR's chart as part of my “Trade of the Decade” three-prong approach to trading the halving cycle.

Join me here to set yourself up to profit from Bitcoin’s next big halvening.
ROUNDTABLE WITH DON YOCHAM 
Who Killed the VIX?
 

We had another great “Roundtable” yesterday. Jack Carter and Geof Smith joined me to discuss what to make of all the Fed talk lately, potential supply issues setting up in U.S. livestock and global grain markets, and how shifts in option market behavior could be masking large underlying risks in equity markets. It looks like the tail is wagging the dog. Watch right here to see how we break it down.

To catch “Roundtable” live, mark your calendar for 10am ET each week. The following link will always let you in:
https://special.wealthpress.com/RoundTable  
 
 
SCOTT WELSH
Game Time
 

After four down days in a row, the market is finally positive.

Well, it’s positive as of this writing.

And it’s fading a little with each sentence I type.

But it’s nice to see some green, even if just for a moment.

Last time we talked about the hot Leisure and Gaming sector.

If you look at the stocks in this cohort, they’ve all held up very well during the bearishness.

And where do new, explosive leaders come from when a new Bull Market forms?

They come from the stocks that weren’t hammered as much as everything else.

Here’s an example of that:
 
 

BYD (Boyd Gaming) and its 1.7 million square feet of casino space containing 31,000 slot machines have stayed in a tight channel while everything else has been falling off a cliff.

And, like CHDN, it’s now very close to a major breakout point. 

A break above $69.95 by BYD could lead to a nice move.

Happy trading,
Scott
DON YOCHAM
Call it a Boot Camp for Your Best Ideas
 

The market yawned at yesterday’s FOMC minutes.

The read was dovish. But in light of the hawkish talk out of the Fed last week, those dovish comments spoke to an era of rising recession expectations and cooling inflation.

That era was all of three weeks ago. And that era is long gone.

Despite the market’s manic mood swings, there are still plenty of opportunities for investors and traders willing to put in the work.

And “doing the work” is exactly what I do each Tuesday, at 11am ET for members of my ProsperityPub Community channel on Telegram.

To join the club, all you gotta do is click this link. It’s open to everyone and won’t cost you a dime.

For 30 minutes, I go live with members, taking their picks, getting their take on the stock, and talking through their ideas. We usually come away with 1 to 2 great trades.

We call ‘em “Sizzle Stocks” sessions. And you are free to check out this week’s session right here.

Take What the Markets Give You.
 
   
 
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