Money Talks is back!
The holidays are over, and it’s time to get to work and make some coin!
Check out our Bitcoin giveaway, and you may end up with a $100 Bitcoin surprise. Not a bad way to start the new year in crypto style!
On this week’s show, I’ll be talking about:
- Bitcoin’s recent price run up to $40,000 (and my 2021 bitcoin price prediction)
- Altcoins on the move
- Getting started with Abra
- Update on our Abra Interest Account
- AMA, where I’ll answer all of your burning crypto and Abra related questions
We now broadcast Money Talks on YouTube, Facebook, Twitter, Instagram, and Twitch. Join us tomorrow (Fri) at 9 am PST: https://youtu.be/B__bHfURZek
Bitcoin breaks $40k – again!
Bitcoin has gone vertical. In a massive breakout that began in mid-October but accelerated with a steeper slope into the new year, Bitcoin is now in completely new territory.
Bitcoin spent three days, January 8-10, ranging above 40,000 per Bitcoin, followed by a BIG downward retracement of about 28%. Since then, Bitcoin has almost fully recovered and is now back above 40,000 as of this writing time.
It’s important to note that Bitcoin had several 30% pullbacks during its 2017 bull run (see chart to the left.) I’ve mentioned here and on social media that investors can expect multiple 30% pullbacks on the way to $100k. Nothing goes straight up forever, and these pullbacks are healthy. Think of the pullbacks like a rubber band winding up, getting ready for the next explosion to the upside.
I’m actually quite surprised it took 90 days for a significant retracement of any kind to begin. Of course, the crypto-verse assumed that the end for Bitcoin was here (again), and of course, they were wrong (again).
With President Biden outlining a massive multi trillion dollar spending plan, expect the Fed’s printing machines to go into overdrive. These machines are connected to other government printing machines that are also going into overdrive. The result is a global weakening of major currencies, with the dollar leading the way down. This is incredibly bullish for Bitcoin and gold as well. I expect to see $100k Bitcoin in 2021, as I predicted in my interview with Pomp a few months ago.
Manage your expectations and mind your mental crypto health!
Watching crypto prices all day long can be harrowing. I strongly suggest you have a plan, set price alerts in the Abra app, and then not spend every waking hour looking at the Bitcoin or Ethereum price. It’s ok to take some profits off the table if you prefer just to ride it out. As long as you’re comfortable with your own plan, then you’re doing the right thing for YOU!
Altcoins on the move!
100% of the top 100 token movers tracked by Messari, a crypto analytics firm, showed positive gains over the past seven days. That is incredibly bullish price action. Clearly, alt-season is here and in full swing. Top coins include not only Bitcoin, Ethereum, Litecoin, Bitcoin Cash but also big moving alts such as Hedera, Navcoin, Dash, Compound, Bitcoin SV, and NEO, all up over 15% this week as of this writing.
Today we are seeing significant moves in SpendCoin, Endor, Peercoin, and Decred.
I’ll spend a few minutes on Money Talks digging into the big price move in Ethereum as well. It’s clearly setting up for a big bull run, but there are risks. We’ll talk about it!
Be very careful trading altcoins. They can rise fast but fall just as quickly. I recommend only holding altcoins for the short term unless you understand the underlying technology and are bullish on a specific project for a particular reason. Set price alerts in Abra, so you know when there are big moves without getting surprised.
Abra is THE Best way to get started in Bitcoin and Crypto investing NOW.
I try to personally help 5 to 10 people per day get started with Abra. Beyond that, I get contacted by about 25 to 50 people each day during big price runs for investing advice. I try to answer every message, but it’s getting harder every day. So please be patient, and I’ll try to respond as fast as I can. The most gratifying part of my job is when people get their first crypto and get crazy excited.
Honestly, the steps are so easy now that you’re better off just copying and pasting these steps and sending them to all of your friends, and they’ll love you for it!
- Download Abra on the iPhone App Store or Google Play Store – it takes about 90 seconds to register.
- Add money to your wallet using any of the following methods:
- Bank Transfer (options vary by country)
- Wire Transfer (available globally)
- Credit/Debit card
- Deposit cryptocurrency from an external wallet
- Cash deposit via retail partners (options vary by country).
- In addition to the app, you can also use our Crypto Marketplace available on the Abra website. On our website, you can purchase cryptocurrency using various fiat payment methods, including Visa/Mastercard, Apple Pay, Google Pay, Samsung Pay, SEPA (Europe), FasterPay (UK), iDEAL(Netherlands), Sofort-Klarna (Europe), Interac (Canada), POLi (Australia), PayID/OSKO (Australia), BPAY (Australia), Newsagent (Australia), and Australia Post.
- Once you have added funds to Abra, you can exchange (trade) your cash for 75+ crypto assets available on the Abra app. Additionally, you can also supercharge your crypto gains by moving your cash or crypto to your Abra Interest Account and generate up to 10% interest on your deposits compounded daily.
- That’s it!
Update on Abra’s Interest Account
Since we launched our Abra Interest Account a few weeks ago, we’ve had an incredible number of customers bringing in millions of dollars in deposits. Our deposits have been doubling every couple of weeks, and we’re now managing well over a hundred million in interest-generating deposits.
Abra also offers one of the highest interest rates in the crypto industry. We’re paying 10% on your USD deposits and up to 5% on your crypto deposits.
See you on Money Talks tomorrow (Fri) at 9 am PST.
Peace and Love
Disclaimer: Abra Interest Accounts are issued by Prime Trust a Nevada Chartered Trust Company. Rates for Abra Interest Accounts are subject to change. Digital currencies are not legal tender, are not backed by any government, and Abra Interest Accounts are not subject to FDIC or SIPC insurance protections. Any opinions, news, research, analyses, prices, or other information provided here is a general market commentary and does not constitute investment advice. Abra does not recommend that any cryptocurrency should be bought, sold, or held by you. Do conduct your own due diligence and consult your financial advisor before making any investment decisions. Abra will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
Established in 2014, Abra is on a mission to create a simple and honest platform that enables millions of cryptocurrency holders to maximize the potential of their assets. Abra enables both individuals and businesses to safely and securely buy, trade, and borrow against cryptocurrencies – all in one place. Abra’s vision is an open, global financial system that is easily accessible to everyone.
Based in the United States, Abra is available in over 150 countries and makes it easy to convert between crypto and a wide variety of local fiat currencies. With over 2MM customers, $7B in transactions processed, and $1.5B in assets under management, Abra continues to grow rapidly. Abra is widely loved and trusted – in April 2022, pymnts.com reviewed and rated Abra amongst the top 5 most popular crypto wallets in the market. Abra is backed by top-tier investors such as American Express Ventures and First Round Capital.
How Abra Protects Your Funds
Abra places clients’ financial objectives and security first. Abra practices a culture of risk management across all levels and functions within the organization.
Abra employs a state-of-the-art enterprise risk management framework that comprises a comprehensive set of policies, procedures, and practices detailing all applicable risk-related objectives and constraints for the entirety of the business. Abra has instituted a complete set of requisite systems and controls that continuously enforce these policies, procedures, and practices to manage all operations, including credit and lending. Abra’s independent Risk Committee comprises experienced compliance, risk, securities, and fraud operations professionals with backgrounds in industries ranging from traditional and digital assets banking, payments, remittance, to fintech.
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