📉 Bitcoin reaches $20k! What can we expect?

What up, family, 👨‍👩‍👧‍👦

Seedphrase Daily here 👋. This is the #1 news and entertainment source for Web3 and NFTs.

Today’s estimated research time is 3 hours and 57 minutes condensed into a read time of  2 minutes and 42 seconds. Stay tuned to where we talk about: 

• 😱 This is what you need to know about the FED meeting

• 📉 Bitcoin reaches $20k! What can we expect?

• 👨‍🏫 Here’s a list of 5 common mistakes investors make

😱 This is what you need to know about the FED meeting

The Feds did a sweep yesterday. They had their meeting and announced a spike of 0.75% in interest rate, which is the highest since 1994. They signaled continuous rates as they tried to combat inflation, sending BTC to new lows!

"Can you translate this into English?"

The hike means the FED is willing to do anything to combat inflation rates, even if it means hurting the economy in the short term. 

What do we do as investors? 

With rates rising, it makes sense to adjust and accelerate some financial plans. Seedphrase recommends that if you have any lingering debt, it should be paid off pronto! Credit card debt and loans are becoming more expensive as interest rates increase, and borrowing large sums of money from the bank should be delayed if possible. Start with higher interest debt, then work your way down. 

Learn to dollar cost average and use the bear market to build your portfolio and skill sets, which will pay off once the economy begins to recover. 

Full article

📉 Bitcoin reaches $20k! What can we expect?

Trading above the $20k, the bears are threatening to break the flagship pattern, leading to even further price decreases and liquidation of major studios.

Is this normal?

In the 2018 crash, Ethereum went down to as low as $120 per coin, losing over 90% of its value in just a few weeks. Ethereum then rallied to over $4,300 per coin in May of 2021. Two years in a bear market to see 3483% returns. Sounds worth it if you ask me… NFA

Full Report

This is a glass-half-full, glass-half-empty situation.

The clear view is that crypto's dying because of price action. Alternatively, we can see this as a good buying opportunity. The choice is yours. 

Keep reading because we asked million dollar wallets what it took to get where they are.

🤓 Romania’s improving quality of life with Web3

On June 6th Romania started a project integrating Web3 to make life easier for their citizens. The project consists of developing a partnership between individuals and institutions by using a new digital framework.

This is how NFTs will revolutionize government documents. 

IRL files will still be valid and useful because future Romanian government papers will use forms that are protected by cryptography. Making these papers as NFTs is just as safe or more because they can't be changed.

NFTs can be stored in a ledger wallet, which is impossible to hack. Romania is taking steps toward using NFTs for the right purposes and can potentially bring other major governments to do the same thing.

Original Article

This may look like a small step, but it's compounding in the right direction. Will this be the future of identity?

👨‍🏫 Here’s a list of 5 common mistakes investors make

🙌 Just like we mentioned, we asked profitable traders on the biggest mistakes they’ve made in their careers and here’s all that knowledge condensed into a few sentences. NFA

1.No Plan

This is where it all begins. You need to know what you're investing in, write your entry when you want to sell how much you can afford to lose from this trade. Not doing so will be like gambling, hoping for the best.

2. Trying to time the market.

Every new investor quickly learns that no one can predict how the market moves. Studies have shown time & time again that DCA (Dollar-cost averaging) beats timing and BTD strat

3.Unbalanced Asset Allocation

New investors often end up with an extremely tech-heavy portfolio, as this is where many of the 'hype crypto' sit. This leaves you exposed to the volatility of that particular market. Aim to balance your portfolio across several market sectors so you are less vulnerable to sector crashes.

4.Lack of patience

Successful long-term investing is 1% buying crypto and 99% holding them & doing nothing, regardless of price action. The more you mess with your portfolio, the worse your returns will be. Concentrate less on price action and more on the underlying fundamentals.

5.Lack of Discipline

If you don't have self-discipline, you'll never be able to follow through with your trading plans and will be acting solely on emotion.

Do you do any of these? It's okay. Just improve and move forward.

NewSeeds:

Canon’s ‘Legends’ Photographers are Selling Photos as NFTs. Opportunity everywhere!🔎

Madonna will be joining the World of Women dance floor at NFT NYC. Trying to get front row😏

Bored Ape #7537 bought for $1.2M by Btok. Good or bad move?🤔

That’s a wrap! Do you think we’ll ever see the United States convert to online identity? Make sure to follow us on Instagram and Twitter for more up to date content! Also check out our Youtube Chanel, where we discuss hot topics and some potential calls if you’re too lazy to read. Make sure you subscribe because at 1000 subscribers we are going to be giving away 1Ξ to a lucky person!  

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Meme of the Day 

How do I write a resume and explain 2 years of selling jpegs? 

Disclaimer

None of this is financial advice. This newsletter is strictly educational and is not investment advice or solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research!