Wolf Of All Streets worries about a world where Bitcoin hits $1M: Hall of Flame

Scott Melker is the big of The Wolf Of All Streets Podcast and writer of The Wolf Den newsletter.

“If I tweeted astir a tiny headdress [crypto] of immoderate benignant close now, the terms would astir apt alteration by similar 50%,” says Scott Melker, amended known to his 904,800 Twitter followers arsenic The Wolf Of All Streets.

Melker says helium takes this work earnestly and won’t stock tweets that mightiness “impact the market” – but this makes Twitter “a batch much boring” from his end. In fact, Melker declares that Twitter “stopped being fun” erstwhile helium reached 100,000 followers.

“That’s erstwhile I went done a signifier of a existent love-hate narration with Twitter due to the fact that that’s erstwhile I conjecture 10% of the radical who respond to comments were trolling astatine immoderate fixed time.”

All you tin truly station to 900,000 followers is “Bitcoin and inspirational quotes” due to the fact that “everything else” volition onshore you successful blistery water. 

After graduating from Penn State University with an Anthropology grade successful 1999, Melker tried his manus astatine a “million” different things — uncovering the astir occurrence successful his 20-year stint arsenic a DJ.

Shortly aft finishing university, helium besides started his ain mag successful Philadelphia called 101 Magazine, focusing connected thoroughfare civilization and metropolis vibes.

It caught the attraction of a “huge” mag called Frank 151, which acquired it, and Melker became the editor-in-chief of both. 

During that time, helium had the accidental to be “insane” parties and hitch shoulders with legendary acts similar the Wu-Tang Clan and Outcast.

The euphony manufacture led him to try crypto trading successful the archetypal place.

“I conscionable happened to look into crypto due to the fact that determination was a clump of DJs trading it,” helium says.

He archetypal started trading connected the Gemini crypto speech successful 2016 and recalls buying Bitcoin to nonstop it to different exchange, Bittrex, truthful helium “could bargain Ethereum and Ripple.” ETH was “under 20 bucks” backmost then, helium notes successful a cheeky humble brag.

Rather than immoderate lofty higher purpose, helium says the main attraction was making acold hard cash.  

“I was truly conscionable trading, trying to marque wealth to enactment a caller family; it had thing to bash with what Bitcoin was oregon what the plus people was.”

What led to Twitter fame?

Melker initially started stacking up followers erstwhile helium was “trading the marketplace well” and posting astir it connected Twitter. At that constituent successful time, his contented was “100% charts and trades.” 

However, Melker didn’t privation his relationship to beryllium based connected trades due to the fact that it’s “fickle.”

So, helium transitioned toward a much holistic attack to his contented wrong the crypto industry.

“I would emotion to archer you determination was immoderate strategy that I took to turn my account, but it was ever conscionable maine doing immoderate I enjoyed doing the astir astatine immoderate fixed time.”

Melker has observed a nonstop correlation betwixt his follower maturation and the show of the crypto market.

During erstwhile bull markets, helium has experienced an insane influx of regular followers. 

“There was a clip erstwhile I was getting a 100 1000 [followers] successful 2 months,” helium says.

Melker utilized to “literally respond to everybody” who commented connected his tweets oregon messaged him, but that vessel has present sailed.

“That’s similar a full-time job, and past you conscionable get to the constituent wherever you virtually can’t unfastened each your DMs anymore,” helium says.

But it’s champion not to notation to him arsenic an “influencer.”

“I hatred the word influencer because, to me, I’m conscionable a pupil of crypto, and it’s thing I’m passionate astir and privation to larn much about.”

What benignant of contented bash you do?

Melker’s contented revolves astir crypto quality and keeping radical up-to-date with what’s happening successful the market.

He likes to stock his instrumentality connected what’s important, and “what’s benignant of sound and not signal.”

“[My contented includes] each the lessons that I’ve learned successful my streams and podcasts, but I would accidental it’s mostly educational/informational contented astir this market.”

Melker emphasizes the overwhelming unit helium faces whenever helium decides to “fire disconnected a tweet,” considering however galore followers helium has amassed connected Twitter.

“Twitter is similar a movie wherever you propulsion a grenade successful a country and locomotion away, and there’s a immense detonation down you. That’s however I consciousness each clip I nonstop a tweet now,” Melker says.

Extreme beef: Gary Gensler

Melker is not a instrumentality of United States Securities and Exchange Commission Chair Gary Gensler. 

He admits that his Twitter is filled with galore “angry tweets against Gensler.” 

“I virtually contributed to aggressively getting #firegarygensler trending connected Twitter,” helium declares.

He explains that his occupation with Gensler is his caller regulatory actions, which helium perceives arsenic a “massive overcorrection” targeting crypto firms. 

He believes that it stems from a consciousness of embarrassment implicit the information Gensler was gathering with Sam Bankman-Fried earlier the collapse of FTX and didn’t recognize “he was a fraud.”

Spicy beef: ZachXBT

ZachXBT, a pseudonymous on-chain researcher, accused Melker of pumping and dumping crap coins to his followers successful 2021. It was a troubling clip for Melker, who received threats and became the people of white-hot anger.

Melker vehemently refuted the claims and announced helium would steer wide of tweeting astir projects with tiny marketplace caps altogether.

Melker says helium doesn’t privation his assemblage to get the incorrect thought and prefers to absorption connected the acquisition stuff. He reiterates that helium “was passionate” astir trading altcoins, but says it tin beryllium hard to navigate the boundaries of what you should and shouldn’t speech astir arsenic your pursuing grows.

“You don’t conscionable amusement up with 900,000 followers 1 time and recognize what you tin and cannot tweet about.”

Price predictions?

“There’s thing that makes you look dumber than a terms prediction,” Melker states. He should know, fixed helium took an optimistic swing astatine predicting Ethereum would deed 5 figures successful 2021.

However, helium is bullish connected Bitcoin hitting six figures successful the adjacent bull run.

“I deliberation the adjacent rhythm would beryllium determination betwixt 100 (thousand) and 250 (thousand),” helium declares. 

But Melker believes that aft that, the marketplace volition spot different immense diminution earlier it hits fractional a million.

“Then we driblet down to 60 (thousand), and it’s boring forever. Then, we popular up to fractional a million, similar we proceed these four-year cycles.”

However, Melker doesn’t privation “to unrecorded successful a satellite wherever Bitcoin is simply a cardinal dollars.”

“The faster it happens, the worse the satellite is,” Melker says.

“Because if Bitcoin goes to a cardinal dollars. It means that everything other has exploded, including the United States dollar, and we’re surviving successful immoderate Mad Max dystopian future.”

“Where you and I are those guys without faces painted going to state town, warring disconnected the enemies,” helium describes, referring to the 2015 movie Mad Max: Fury Road.

But possibly successful a mates of decades.

“I would similar to spot Bitcoin astatine a cardinal dollars successful 20 years, pursuing tenable cycles,” helium adds.