Can we say it? The b-word? The “bull” market is back?!

The best crypto exchange for Aussies is….

🥇 Kraken! 🏆It was a very close race, but Kraken beat out CoinSpot purely due to their lower fees when executing market orders (when you buy BTC at the market price). Kraken charges 0.26%, while CoinSpot charges 1%.

There’s a BUT!

CoinSpot actually has lower taker fees (when you want to buy BTC at a certain price, for example). CoinSpot came in at 0.1% compared to 0.16% at Kraken. But, because it’s not a HUGE difference and most people buy at market price, Kraken pips CoinSpot for top spot.

In terms of useability, they both

✅ accept OSKO and bank transfer deposits

✅ free to withdraw from

✅ reputable

✅ accept individual, business, SMSF and other trust clients.

In saying that, exchanges are ONLY EVER used for one of two reasons:

1. To onramp your cash, buy crypto and store it in your cold wallet.
2. To sell your crypto for cash and send it directly to your bank account.

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And the book of the year award goes to…..

 

A few months ago, my good friend Ryan recommended a tv show on Netflix. “You’d love it” he said…

Well, that TV show is called “How To Get Rich” by New York Times best-seller Ramit Sethi.

Since Ryan and I last spoke, I’ve watched the show. I’ve also read his book, and watched all 111 of his podcasts, including the one that came out on Tuesday! It’s pretty clear that

1. Ryan knows me pretty well
2. Ramit is my favourite author/ content creator for 2023.

What really resonates with me is his mantra. “Spend lavishly on the things you love and cut mercilessly on the things that don’t matter to you”. This alone helped me get over the guilt I felt whenever I spent money on something I loved doing.

Anyways, enough about Ramit. I’ll do a write-up and send it out next week. It’ll be “The definitive guide to getting your family/friends interested in Personal Finance”.

You can send it to that one family member who’s so financially illiterate they think interest rates are the number of likes on a social media post. You know exactly which family member I’m talking about, don’t you?

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Macro talk

 

What are the big boys in the macroeconomics space saying, and what does this mean for markets? Let’s see.

Jim Bianco (Bianco Research LLC): 

• “Inflation will be going back up”
• “Historically, when the FED starts to cut rates, this is the worst time to hold risk assets (crypto, tech stocks). Why? because the FED typically cuts rates when something breaks.” 

Well, judging by the last 3 crises shown below, Jim is right that it was the worst time to hold risk-on assets. But does it not also look like markets have pre-empted a 2023/24 rate cut and dumped ahead of schedule, unlike the other times? Hmm, hard to say. We’ll see.

 

 

Darius Dale (42 Macro): 

• “US recession will occur in late 2023 followed by an influx of liquidity”
• “Medium to long term bullish on crypto and tech”

Well, I’ve been harping on about the liquidity and risk-on assets for months now, so I tend to agree with Darius. Here’s the perfect illustration. As net global liquidity increases, so does the price of BTC. As liquidity is withdrawn guess what happens to the price of BTC?

Yep – you guessed it!

 

 

Raoul Pal (Global Macro Investor):

• US is already in a recession
• the time to allocate to crypto and tech was June 2022, the second best time is now. 
• More cowbell! (considerable move higher for risk-on-assets)

Raoul has pretty much the same view as Darius which is assets overall will do great in the next 3 years and risk on assets will be the fastest horse. They disagree with when the US recession occurs, but these are semantics.

Overall, they all agree that holding assets is a must – so anyone holding property, stocks, or digital assets is doing right by them!

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P10X Capital

 

We say hello to 7 new CopyTraders on eToro in the last 30 days 🙋 ♂️

 

 

We’ve had a good run this last month, gaining 5.2%.

 

 

So naturally, our CopyTraders have also benefited! Welcome to the fam, and we hope you’re here for the long run! 🙏

 

 

2023 performance: 

📈 +57% on Enzyme

👉 Not taking new customers.

📈 +48% on eToro

👉 sign up and show us some love 💙💙 by CopyTrading us here

 That’s all for now. If you have any questions, you know where to reach me.✌️