#39 What You're Missing
Where is the top for Bitcoin? Will Solana recover? Will ADA go higher now that it has working smart contracts?
You Shouldn’t Trade The News
We bet you’d like to know! The price of an asset can be misleading if you are trying to make predictions using the news. For instance, Solana experienced downtime for many hours yesterday raising concerns about the centralization of their blockchain. Many new to crypto didn’t realize that Bitcoin is the crypto with the least amount of downtime, with no downtime since a bug was fixed in 2013. There are many risks investing in crypto especially unproven altcoins that are susceptible to undiscovered errors that could bring down their entire network.
The point of all this is that price does not always follow news. In Solana’s case the price peaked on Sept 8th & 9th and has been in a slow decline since then. The network downtime has appeared to have little impact on the price.
That’s why here at Foot Guns we don’t only help to identify risks you may not have thought of we also focus on price. This is because understanding where a price of an asset will go can be separate from understanding the fundamentals. For example, “Solana is faster and cheaper than ETH”, you can’t go long Solana because of this information. If a theory that is used to enter a trade is a platitude or a truism it must be rejected. Ex: given the uncertainty of the economy, I will invest in corn because all people need to eat—that is always true, meaning it’s a truism, and is not a proper rationale for a trade.
Become A Paid Subscriber
It costs $8 for a Chipotle burrito! That’s all we are asking for per month.
Our paid subscribers receive the following:
A cheat sheet showing support and resistance levels for the top 4 cryptos by Marketcap, and our bias (bullish, bearish, neutral).
A cheat sheet showing support and resistance levels for 4 cryptos handpicked by Foot Guns. Over our short history these 4 cryptos have out performed most bluechips, one of them has even done a 6x in just two months.
Price commentary on Bitcoin and Ethereum with detailed opinions on how to play the current market. We called to buy BTC at $31k and to sell and wait for a pull back at $52k (Our cheat sheet flipped bullish today on BTC, and another altcoin).
Private podcasts where Boomer and Hal give overviews of specific trades and discuss strategies to capitalize off current market conditions.
Subscribing will also help us create a better product. We’ll hire a bigger team, let our interns drink coffee instead of tap water, and be able to generate more quality content.
Limited Offer
If you sign up before September 30th we’ll send you 40 FGNEWS tokens.
Foot Guns News will be buying back to burn (burning means destroying) FGNEWS tokens with 10% of its revenue each quarter. This will create positive movement in the FGNEWS token’s price as Foot Guns grows. Don’t miss out! At inception FGNEWS was trading at $0.10 USD and now is at $0.28. That means this offer that was worth $4 (you could use as a rebate) is now worth $11. Read more about FGNEWS token here.
POAP - The bookmarks of your life
POAP enables a new way of keeping long-lasting records of life experiences. A POAP is a digital collectible created as a NFT (non-fungible token) powered by the blockchain. Anyone that signs up before Sept 30th will also receive this POAP:
You can see the POAP that went out to the original participants of the FGNEWS airdrop here.