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How Cousin Finds His Next 100x Alt Coin
Plus A Full Breakdown Of How Cousin Picks Alt Coins
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Happy Friday cousins we made it to the weekend 🍻
inhale exhale. LFG
Ledger Connect Kit was hacked yesterday and hundreds of thousands (possibly more) were stolen. Essentially if you had connected to a dApp that Ledger was shacked up with you were at risk yesterday. The full details of what happened are later in this article.
Out of curiosity we would like to know:
What hard wallet do you use? 🔒 |
During this madness, we felt like this would be an excellent opportunity to do a Trezor Safe 3 raffle by yours truly.
🎟️ Here’s the raffle details:
Share with 5 friends who enjoy crypto and make sure they subscribe
Once you cross the 5 friend milestone you will be entered into the raffle
Do not use fake email accounts (we know when they are fake), you will be automatically disqualified
Raffle will run for one full week until next newsletter
Winner will be emailed and announced in newsletter
🚨 Also, anyone who knows anybody who works at Trezor or has connections with them please shoot us a reply to this email. We would love to continue these giveaways.
Today’s Newsletter Breakdown:
💡 5 Questions To Ask Before You Buy An Alt Coin
📈 Full Crypto News Update
💸 Forex Update
🔥 Hot Take: Dave Ramsey Is An Idiot
📚 List Of Must Read Books To Level Up
Gm legends. Going to write today's market analyses a bit differently, and the reason being is that over the last few weeks my bias has largely remained the same. I would like to see a flush sooner than later to reset our open interests and funding rates, which would be fuel to the next leg up. Also a valid mention, mainstream media is starting to become very bullish on Bitcoin and crypto in general once again. We are unfortunately very familiar with how this story goes. They’re bearish at the bottom and bullish at the top. Although we could continue to push higher without a pullback, I won’t be taking any new substantial positions without one.
What does this do? It gives me time to show you guys exactly what I look for when picking up new altcoins, (this is one of the most common questions I get on a daily basis). So what exactly do I look for? Team, product, marketing, narrative, time. In short, there are 4 main metrics I analyze and they all go hand in hand.
💡 5 Questions To Ask Before You Buy An Alt Coin
Team: There are a few things that make a team valid. Are they experienced in this specific space? Are they experienced in a different space? Have they launched previous projects that have done well? are they doxxed? Are they known by the crypto community? These are some of the points I go over when looking at a team. Key point: If they have minimal experience, that often won't work for me.
Product: 99% of crypto is filled with scams. Completely useless projects are not here for the tech, but rather a quick cash grab. How do you avoid these projects? What is the product? Most importantly what problem does it solve? If it does not solve a problem it is not needed. The majority of projects out there contribute nothing to the space, those which can truly make a difference will see the highest returns. Key Point: Just like in startups, you can build an awesome idea that solves nothing for the customer.
Marketing: I don’t care what anyone says you could have the best team developing the best product known to man - needles to say If the marketing behind it is sh*t, it will never gain traction. In a highly speculative market, it’s not just about fundamentals. The marketing also needs to get a simple message across. If only tech geeks understand the product, the reach will be limited and the community will be overwhelmed with mumbo jumbo. At this point you aren’t fooling anyone by using complex ways to describe your product. Key Point: Marketing can be a make or break for a project.
Narrative: Crucial to selecting your next pick, narrative could make or break it. Q1 of this year we saw AI hit mainstream media hard with the likes of ChatGPT being released, what followed? AI crypto projects such as FET went nuclear. The fundamentals of FET didn’t change, the team didn’t change, the marketing didn’t change, so so what did? The narrative. AI was all over the place and that FOMO came to crypto.
Time: Far too often do I get the question “Are you buying XYZ?!”. Meanwhile, XYZ is sitting at a $500 million dollar market cap and post 500x (uhmmmm this is a no-brainer no-go zone). I prefer not to be the exit liquidity and the beautiful thing about crypto is that we are presented with new opportunities DAILY. If every single big-name influencer on Twitter is already talking about it, you’re likely already too late. Never chase the green dildos, and never FOMO, there will always be another.
These are the main criteria I use when researching new altcoins and are the reason I have been able to catch many 100xs. Happy hunting! 🎯
Ledger: Connect Kit was hacked yesterday sending the entire space into a frenzy. It is still unknown how many funds were stolen. Here is a full breakdown of what happened.
Fed: Kept interest rates the same (remaining at 5.25%-5.00%). Although bullish, Powell still tried to cool the pump by saying there’s still “risk for a recession in 2024”. (@WatcherGuru)
JP Morgan: CEO Jamie Dimon is hell-bent on bashing crypto - meanwhile the firm has tripled its internal crypto team. (@BitcoinMagazine)
Satoshi Nakamoto: Last posted to the Bitcointalk forum on Dec. 12th, 2010, and has vanished since. (@documentingBTC)
$BONK: Goes absolutely nuclear after Coinbase listing and currently is up 66% in the last 24 hours. (CD)
💸 DOLLAR INDEX - BEARISH
Price moved very cleanly this week and we anticipated that the Dollar would have that small rally early on in the week before moving lower for our target of 101.800, which was hit on Thursday.
During the small rally, we traded into the weekly FVG which acted as our resistance.
FED chair Powell also stated that the FED has likely finished raising interest rates, which is bearish for the Dollar and bullish for assets such as stocks, gold, crypto, and foreign currencies.
For the remainder of the Year, I expect Price to consolidate, as we have just swept high time frame liquidity, the yearly candle is coming to a close, and most people will be off from work.
💸 EUR/USD - BULLISH
EUR/USD never had a candle closure below the Bullish weekly FVG this week, showing respect for that level.
After balancing Price in the weekly FVG, EUR/USD rallied above its Daily bearish FVG.
Moving forward I expect Price to use the Bearish daily FVG we closed above as support.
My next target is the liquidity at 1.10652.
💸 GBP/USD - BULLISH
Similar to EUR/USD, Price pulled back into the weekly Bullish FVG, and from there bounced hard taking out the previous week's high.
Going into next week I want to see price sweep the equal highs at 1.28190.
🗞️ NEWS
No news next week of any real significance.
Dave Ramsey is a f*cking idiot unless you are completely broke. Millions of listeners tuned into Ramsey preach nonstop his “fireproof” method of financial freedom. Of course, a bulk of his content is no-brainer 5th-grade level personal finance advice that everyone agrees on but frequently goes way over the edge on certain topics such as “there is no good debt”. I agree, if you are already in debt that may be a motto to live by but for many that is simply just bad advice. A perfect example is outlined below even had the podcast hosts bite their tongues.
Dave Ramsey is an absolute clown lmao
— litquidity (@litcapital)
2:17 PM • Dec 7, 2023
This is just one example of the countless takes that Ramsey has said that anyone worth their salt in finance just basically falls out of their chair laughing at. If you want a professional breakdown of many other horrendous takes watch this video here. One commenter sums it up perfectly by saying “Dave is great for people who are terrible with money, terrible for people who are great with money”.
Knowledge is power. I have personally read many of these books and can confidently say this is one of the best lists I have ever seen when it comes to leveling up in every way.
Tip: Buy the audiobook and listen to it on your 30 min walk. Shed some calories, kickstart your metabolism, and learn a thing or two. As Ricky used to say “that’s like getting two birds stoned at once!”
100 books to read before you die:
— 𝐖𝐞𝐚𝐥𝐭𝐡 𝐇𝐚𝐭𝐜𝐡 🧠📙 (@WealthHatch_)
10:50 AM • Dec 12, 2023
seek professional help for whoever made this…
There is a bull loose on the tracks near Penn State Station
This is a sign from God that THE BULL MARKET IS BACK
— LilMoonLambo (@LilMoonLambo)
6:10 PM • Dec 14, 2023
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Written by: Cousin Crypto, Gannon
Disclaimer: Heinous Pumps Newsletter does NOT provide financial advice. All content is for informational purposes only. Heinous Pumps is not a registered investment, legal, or tax advisor or a broker/dealer. Trading any crypto-related asset is extremely risky and could result in significant capital losses. Heinous Pumps is a satire-based newsletter and should not be taken seriously.