Have we Bottomed?

10min read

January 18, 2023

FOMO METER

WE CALLED IT!

Oil/Commodities

Gold and Silver continue to remain strong and up pushing local highs.
Brent and WTI trading above $85 and $80, continuously recommended buying up crude at around $80 and $75 respectively

Technical Analysis

ETH from $1,350 to $1,600
BTC hitting mid-$21,000 from $17,000; was calling for the $18,000-$20,000 range for 2+ weeks
MATIC to $1.00 from $0.85; APE to $5.50 from $4

THIS WEEK IN WEB3

News

LaCollection and Samsung have partnered to allow Smart TV owners to trade NFTs directly from their televisions
Avalanche, a blockchain platform that facilitates the creation and trading of NFTs and other digital assets, has announced a partnership with Amazon Web Services (AWS) to serve as a launchpad for NFTs and Web3 gaming
Avalanche, a blockchain platform that facilitates the creation and trading of NFTs and other digital assets, has announced a partnership with Amazon Web Services (AWS) to serve as a launchpad for NFTs and Web3 gaming
A popular 'tiny' NFT game, Sorare, a fantasy football-themed NFT game, has announced that it is ditching Solana for Ethereum's Immutable X
Justin Sun, the CEO of TRON, has announced that he is transforming the world's finest art into NFTs in a project called "Project Atlas," which will involve the digitization of famous artworks and their conversion into NFTs that can be bought and sold on the blockchain
Instagram is becoming a major platform for the buying and selling of NFTs, as the social media giant has recently integrated blockchain technology to support NFTs
NFT Marketplace SuperRare has cut 30% of its staff, stating that they "over-hired" during the recent NFT boom
ARK Investment Management has made a major buy of Coinbase stock, which has seen a 20% jump in value on-week
Gemini, the crypto exchange founded by the Winklevoss twins, has officially terminated its Crypto Earn program amid a spat with Digital Currency Group (DCG) and Genesis
Actors Mark Wahlberg and Dwayne ‘The Rock’ Johnson have partnered with blockchain gaming platform GALA games working on the development of new games and in-game assets, with a focus on NFTs
Victims of the BitConnect (a cryptocurrency investment platform offering unrealistic returns) Ponzi scheme will be receiving $17 million in restitution, according to the U.S. Commodity Futures Trading Commission (CFTC)
MetaMask now allows users to stake their Ethereum directly within the wallet, a feature that is part of the Ethereum 2.0 upgrade, which was designed to improve the scalability and security of the Ethereum network

MACRO MARKETS

Inflation

The big number everyone anticipated after US Non Farm Labor was goods inflation through CPI. Inflation came in on consensus to what analysts and economists had predicted, showing its trend lower. In December, inflation dropped again as households and businesses got relief. The latest inflation data, released Thursday by the Bureau of Labor Statistics, showed prices were 6.5 percent higher in December than they were a year before — and fell 0.1 percent when compared with November. This is the first time prices have dropped month over month since May 2020. The annual rate of price increases was the slowest since October 2021. Inflation is still well above normal levels, and the economy remains vulnerable to shocks that could send prices back up. For now things are trending lower.

WHAT'S COVERED THIS WEEK

This Week in Web3

News

Macro Markets

Inflation, Core PPI & Retail Sales

OIL / COMMODITIES

Crude, Short Term Fundamentals, Bullish Catalysts, Bearish Catalysts, Gold, Copper, Iron Ore, Zinc

Technical Analysis

ETH, BTC, ETH/BTC, DXY, NFLX, TSLA, SPY, Bond Yields

NFT's

News, Recent Launches, Upcoming Launches

WELLNESS WIZDOM

MENTAL HEALTH: The effects of prolonged screen time

FOOD & WINE

RECIPE: Beef Birria Stew and Birria Tacos Wine: Italian Chianti Superiore (Ruffino)

WIZARD’S WEEKLY MUSING

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WIZARD’S CAULDRON

Current Portfolio Allocation

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