Ep. 9 - A New Monetary System You Can't Ignore
Have you ever met someone who consistently makes 7-figures on their expertise and wondered, “man, how do they do it?” Today that someone is Dan Habib. Dan has been involved in the mortgage industry for over 18 years. He was just honored by National Mortgage Professional Magazine as one of the top 40 under-40 mortgage professionals. To add, he is a ten-year veteran technical trader and a 7-figure trader in the crypto market. He is currently EVP at Crypto Charge and MBS Highway. With such a wealth of knowledge on the industry, it’s incredible that, in this episode, we’ll get a first-hand breakdown of the crypto market. We also discuss the state of the economy, how we got here, and why.
For those who want to understand the crypto market better and how to navigate it, this is one you don’t want to miss.
[00:01 - 06:50] Dan Habib: 7-figure crypto investor & trader shares advice on the current state of the economy and the backdrop that led to it
[06:51 - 13:29] How the Fed’s decisions behind driving artificially low-interest rates led to too many dollars and not enough supply—the pain won’t last forever
[13:30 - 23:46] How Fed rate hikes could send the markets into a recession on a global scale and why the housing market will recover sooner than you think
[23:47 - 32:27] A new monetary system that works without the need for a central bank
[32:28 - 42:49] Bitcoin: How this “grandaddy” of cryptocurrency actually works
[42:50 - 47:55] Why Bitcoin works as a hedge against inflation and other unique utilities behind cryptocurrencies that provide opportunities
[47:56 - 54:37] Cryptocurrencies remain volatile, but with current activities happening in the market, returns could be on the rise
[55:38 - 1:01:57] The best time and strategies to Invest in cryptocurrencies
[1:01:57 - 1:06:04] Crypto Charge: Advice from Dan Habe on Surviving the Market Volatility
Quotes:
“My prediction on mortgage rates—I think you can get back down to 5% in the first half of next year.” - Dan Habib
“If you wait, because of the inventory picture and because builders learned their lesson; when rates come down to 5% next year like I’m predicting… it lays the groundwork down for a re-acceleration, and you may have missed your opportunity.” - Dan Habib
“[Crypto Currency] is like a new monastery system that exists without the need for a central bank; without the need for these banks to facilitate the flow of funds.” - Dan Habib
“Adoption is still in the early stages. While that means there’s more volatility, it certainly means there’s also a great opportunity before you get to critical mass adoption.” - Dan Habib
“When everyone is ultra-optimistic, that’s when you should be selling and vice-versa.” - Dan Habib
Resources Mentioned:
Connect with Dan on LinkedIn and YouTube. Do yourself a favor and check out https://www.cryptocharged.com/ for market analysis and sound advice to navigate the market.
For 30% off on CryptoCharge, use code: HABIB.
Bank of England is a nationwide lender that takes the time to understand your needs and structure the right mortgage for you and your family. Find your local branch at https://www.boemortgage.com/.
