| | Trusted by over 100,000 blockchain investors. |
|
HEALTH, WEALTH, AND HAPPINESS |
| |
Coinbase stock (COIN) goes on sale tomorrow, April 14! |
|
Hi Everyone,
We'd like to start today by wishing all of our Muslim readers a Ramadan Mubarak.
This unique monthlong holiday is a time for self-refection and improvement.
Conservative members of the Islamic faith will be fasting all day and feasting at night as a way of practicing self-control, discipline, and empathy for those less fortunate.
It's no surprise, and quite apropos, that a major theme of this time of year is generosity and charity.
As we've mentioned in Friday's newsletter, the divide between the haves and the have nots is accelerating faster than ever before, and those of us fortunate enough to benefit from this record-breaking crypto bull run have a moral responsibility to do everything we can do alleviate the suffering of those on the opposite side of the spectrum.
Yes, this is a difficult task, especially as much of your assets may be tied up in investments.
|
|
Inflation begins
One of the main factors expected to exacerbate this massive wealth inequality going forward is inflation. ...
Earlier today, we received further confirmation of the rising levels of inflation in the United States, as the Bureau of Labor Statistics released the monthly consumer price index (CPI) data, reveling that the price of goods and services, including food and energy, rose a seasonally adjusted 0.6% in March.
This is 0.2% higher than February's number and a notch higher than analysts were expecting.
Although 0.6% is not a super high number as CPI prints go, this graph going back to the turn of the century gives us a visual understanding of the frequency at which higher numbers have been coming out since the start of the pandemic. |
|
All this, and we're only just starting to get the first signs that the pandemic is receding.
As life slowly returns to normal, many expect these numbers to get larger.
Going forward, economists will likely be placing greater weight on the CPI data than they do even on the U.S. nonfarm payroll jobs report that garners so much attention from traders on a monthly basis.
The Federal Reserve, for their part, will do their best to hide these abnormal levels of inflation by focusing on the core CPI data, which excludes the price of food and energy.
Indeed, the Core CPI that was also released today rose only 0.3% in March. Although with the massive shortage in computer chips currently playing out, it will be progressively more difficult for them to sweep this under the rug. |
|
Record-high day
For the first time in a month, bitcoin has marked another all-time high, having more than doubled its value at the start of the year.
Ether has also entered new terrain, tripling its value in the same period. We're also seeing record highs in the Nasdaq and the S&P 500 as the broad multi-asset rally continues.
The greatest gainer today goes to dogecoin, which has leapt approximately 30% since the morning, briefly topping 9.5 cents a coin. It seems the memes are in total control of this market.
The story on everyone's mind, of course, is the massive direct listing Coinbase is scheduled to hold on the Nasdaq tomorrow, which is sure to be a historic event for many reasons.
Many thanks to everyone for reading and engaging with the daily newsletter. You all are the best!!
Wishing you a very fine evening ahead.
Best regards, |
|
Mati Greenspan Analysis, Advisory, Money Management |
|
|
|
|
|
|
