BRF #7 Crypto Giveaway

New Capital Gains Tax To Ruin Crypto?

Recently the biden admin started to float around a new idea of 39% Capital Gains Tax, that would pretty much effect everyone from stock market investors to Crypto to RE. I assume this is some sort of head nod to the mob/extreme left that is on his team. The reality is, a tax like this will destroy the country.

The capital gains tax has stayed at in the 20-28% level for over 20 years, one of the better things clinton did, but to essentially double that tax or cut in half gains on investment will have a negative effect over the next 3-5 years in America. People will think “what’s the point to investing” if they will only make half as much, they will instead think about taking that vacation or just spending it as soon as they make it because again “what’s the point of saving”? This will also further promote degenerate gambling behavior in crypto, stocks and anything else people can crank up $1 to $100.

But to take it a step forward, now that peoples gains are effectively cut in half how does this affect investing in startups and the tech space as a whole? We can only assume it will negatively affect the very idea of building and funding a startup in America. With our current levels of debt right now, where will the funding come from if due to the fundamental investment shift that this will cause dries up money that is currently being poured into tech and startups?

In short, on a long enough timeline the money will dry up. This tax will go into the hands of the insane legislators and supposed public servants to create even more bizarre and bullsht agendas. This is the definition of state run power. There is a name for that. With everything going on right now, capitalism and the ability to marry idea with capital right now in America is one of very few things that are going well still. At a time where we need more people putting up capital on ideas we would effectively get the exact opposite with a doubling of cap gains tax like this.

The government is notoriously bad with budgeting money and its not like over the last 20 years of increased funding they have gotten has led to really anything better at all. The infrastructure, manufacturing, entrepreneurial programs, training and markets are literally all declining over the same time frame. Not to mention the Pentagon gets a $700B budget and spends $10,000 on toothbrushes (according to their one and only audit anyway).

Will this ruin crypto? In the longer term it will probably negatively affect it if something like this is passed (which I think some variation of this is in fact passed) as it will change how investors in the US think and act but in the short term probably not.

In This Issue:

1. Capital Gains Tax To Ruin Crypto

2. Sponsor Highlight & Giveaway

3. Bitcoin Thoughts & Charts

4. ETH Thoughts & Charts

5. Sam Coin Takeover

6. Binance Burn

7. Sponsors & Recommendations

Prime XBT Highlight & Giveaway

When I created this newsletters one of the things I wanted to do completely different that I never really took serious before was to get help and go after sponsors. See this is my job, I am full time on crypto and these sites/assets I manage and these sponsor deals we lock in help a lot. They help pay staff that we currently employ and future growth we have planned.

Its always sweet when I can lock in a company I like or use already and we can check both those boxes for our latest sponsor to come on- Prime XBT. This is a bitcoin in- bitcoin out exchange that allows you to trade not only major crypto pairs but also major US stocks, metals and global currencies.

This is a big deal because for most people they will never be able to trade these things on their own. This is due to them not living in the US to be able to trade these assets or they can’t/don’t want to go through the process to setup an account to in fact trade these assets with leverage.

Next, what’s the first thing you start to think about when you have a successful trade or just overall start to profit? You think about diversifying into other things, again making something like Prime XBT perfect for you to come in with bitcoin and trade against the value of other risk assets, especially if you live in a country with low to no crypto taxes. Its just another way to gain exposure and grow your bitcoin

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My goal is to give away at least $100 per week to someone new via these emails, and we will be doing similar with videos on the Jameson Brandon channel so resub over there if you aren’t already.

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Bitcoin Charts & Analysis

At first I thought we could see lower $42k-$46k range (talking about wicks across different exchanges), now looking at the higher time frame it looks like we have bottomed out and will continue the moon mission back up into low $70k’s.

Green half circles highlight the HLs, Oscillators looking bottomed out on HTFs, below is the daily and its bottomed and bounced so far.

Overhead resistance I am looking at is red dotted line, again if you look back to when that level was ATH, the sell off there was intense and led us to painting that first low. Even if you took this trade this am and trailed up stops thinking we would reverse somewhere in that range you would sitting in pretty good profits, however I think there are bigger fish to fry. Best case secenerio here is a tap into the $71k-$73k range as that will be front run on the $75k level.

ETH Charts & Analysis

ETH to me is leading the pack and stronger than BTC, we have alot happening on the 4hr so lets take a quick look. First off we have convergence with price action and oscillators (blue line on bottom matches blue line on top of chart) so both are going up. ETH also has painted HLs now as it touched blue line 3 times and now took off and broke out.

Overhead look out for red dotted line, notice the extreme sell off at the start of that horizonal line when that level was ATH. So we watch that level again now as we rapidly approach it, expect some shakeout here before continuing up.

$3k all day for ETH as long as BTC holds up, which again everything is telling us that BTC is good to go. I highlighted the green box above, that is golden ratio 1.618 fib line off the previous ATH and wick low. That area is where a lot of traders will be taking profits, aka front running the $3k level.

Sam Coin Takeover

Its time we talked more about a whole new sub-niche of crypto which is what has been deemed as Sam coins. These are any coins that FTX essentially creates or gets behind which so far are the following…

• FTT- The native FTX exchange coin which gets you discounts on trading fees by holding (many exchanges work similar models, including Binance)

• SOL- Then came Solana next which wasn’t created by FTX, it was created in 2017 by Anatoly Yakovenko and backed by Sam who built Project Serum or SRM coin on top of solana blockchain.

• SRM- Serum is a DEX built on top of SOL which is a super fast and super cheap decentralized protocol.

• RAY- Raydium is the most recent project from Sam which is like Serum but for defi, with the goal being super liquid, fast defi network.

These coins for whatever reason have started to create their own pump cycle outside of alts and defi, for example if we look at SOL recently we are seeing a huge 460%+ return since the $8 range in Feb of this year.

When SOL runs, the rest of the Sam coins tend to follow as that is the front runner. Solana is starting to gain some serious steam now that word is getting out how cheap it is to move money around on the network more and more coin projects are looking at it with the most recent note worthy success being $COPE airdrop.

Look for future emails of me breaking down the Solana blockchain deeper.

Binance Burn

We can’t talk about exchanges without talking about by far one of the largest exchanges in the crypto game. Just last week they completed their 15th quarterly burn of over 1 million BNB tokens (valued at $595M at the time).

Burning is when a coin project reduces the overall circulating supply, effectively making less of the asset which naturally creates more demand and positively benefits those with supply.

Keep in mind that Binance plans on burning 100M BNB or half its total supply over time with these quarterly burns.

Considering the 16x that BNB did; moving from $35 to $600 this quarter, it makes this the most expensive burn they have ever done.

Below are sponsors and recommended tools of the trade! Expect this section to grow as the newsletter grows!

PrimeXBT
This is a bitcoin in/out platform that allows you to leverage trade major indices and currencies worldwide as well as follow successful trade ideas from other traders. So if you live in Asia, you can trade major S&P stocks and vise versa, alongside major crypto pairs.

Binance Exchange
By far still the largest exchange, if you want to trade majors and a huge selection of alts and defi, not to mention the Binance Smart Chain projects!

FTX Exchange
For non-US residents who want to trade leverage on bitcoin, alts and trade futures contracts on crypto and stocks.

QuanTower
I am kind of kicking myself for not starting to use this sooner then I did. I was originally introduced to the team in 2019 and I have to say the project has really matured over the last few years into a great tool that just about cancels out 3 other services I individually pay for.

A tool like this is valuable because its a lightweight desktop software that connects via api so even when the front end site goes down during volatility, you can still trade. This happens the most with sites like Binance and FTX. They integrate with tons of exchanges in crypto, forex and options space. Videos coming soon!

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None of what I put in these emails is intended to be taken as investment advice, there is no BUY/SELL calls in these emails, nor is this any kind of signals group. There is obvious and inherent risk involved with trading cryptocurrencies or any asset, that must be taken into consideration by the investor. Any and all outcomes are your fault good/bad!

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Comment below for your chance to win $100 in PrimeXBT credits to be added to your account! I will be picking the best comment!