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- 🥜 6 Tips for the Bull Market
🥜 6 Tips for the Bull Market
PLUS: SEC issues crypto warning
GM to all 25,552 of you. Crypto Nutshell #170 surgin’ in. 🐙 🥜
The crypto newsletter that won't betray you like a high-stakes game for the throne of the seven kingdoms... ⚔️👑
What we’ve cooked up for you today…
🚨 SEC posts crypto warning
📈 6 Tips for the bull market
🤔 Checking in on Ethereum
💰 And more…
MARKET WATCH ⚖️
Prices as at 5:55am ET
Only the top 20 coins measured by market cap feature in this section
SEC POSTS CRYPTO WARNING 🚨
Breaking: SEC issues new investor warning over crypto assets
The SEC has posted a warning emphasising the significant risks associated with investing in crypto.
The warning focuses on topics such as:
Legal compliance
Proof of reserves
Fraud and scams
Now why are we mentioning this?
Well ETF analyst, Eric Balchunas, pointed out that the SEC tweeted out a similar crypto warning before the Bitcoin futures ETFs launched…
Is this another sign that the spot Bitcoin ETFs are imminent? 🤷♀️
Eric seems to think so…
The full post by the SEC can be found here.
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6 TIPS FOR THE BULL MARKET 📈
Anthony Sassano is a crypto expert & an OG of the space.
He has over a decades worth of experience in crypto & has made 10s of millions of dollars in the space.
So he knows his stuff.
Yesterday, he broke down 6 pro tips for the crypto bull market.
Let’s dive in.
Pro Tip 1: 😤
Don’t get upset because someone else had made more money than you from crypto.
We’re all running our own race.
Enjoy the ride & don’t ponder over things that have no relevance to your own life.
Pro Tip 2: 💵
Outperforming USD is easy.
Outperforming Bitcoin & Ethereum is hard.
Always measure your returns against Bitcoin or Ethereum. Not USD.
If you aren’t outperforming Bitcoin & Ethereum - you’re taking on extra risk for no reward.
Pro Tip 3: 😬
Taking profits is key.
But it’s very likely that you won’t sell the top and prices will keep going up.
Never chase this. Once you take profits, stick with your decision. Chasing the pump only leads to giving back those profits.
Pro Tip 4: 🔮
Every bull market, a few characters will become very visible on social media. They claim to have all the answers.
Nobody has all the answers. Nobody can tell the future.
Avoid these types of people.
Pro Tip 5: 💎
Bull markets typically make you question your own long-held investment theses.
There’s always shiny new narratives being pushed as the ‘next big thing’.
Almost always, the shiny new thing will end up fading away and will end up 95% down from its all time high.
Your job is to not get caught holding the bag when the music of the bull market stops.
Pro Tip 6: 🐻
In the heart of the bull market, it’ll be very tempting to fall into the ‘super cycle trap’.
You’ll begin to believe that there won’t be another bear market.
When you start to fall into this trap, it’s best to start taking profits.
There will always be another bear market in crypto. All markets are cyclical and will continue to be so as long as humans are involved.
Keep these 6 tips in mind & continue to check yourself.
It will ensure you make the most out of the bull market. 🐂 💫
CHECKING IN ON ETHEREUM 🤔
What a week it’s been for Ethereum.
It’s currently trading up 7.84% over the past seven days.
Today we’ll be breaking down some of Ethereum’s key on-chain metrics to see whats going on.
First things first, as on-chain activity picked up, Ethereum once again became deflationary.
Since the merge, the average deflation rate has been -0.206% per year. 📉
The amount of ETH available on exchanges continues to decline.
Currently it’s at a 5 year low of 14,207,426 ETH. 😱
That’s only 11.85% of the entire circulating supply…
So where is all this ETH going?
Similar to Bitcoin, we’ve also seen an increase in investors opting for self custody. The collapse of FTX was a HUGE wakeup call for everyone.
BUT the other reason is that more and more Ethereum investors are deciding to participate in staking.
The amount of Ethereum staked continues to break all-time highs and is currently at 34,288,190 ETH.
If you’re unsure what staking is checkout this short breakdown.
To us, this looks like an Ethereum supply shock is in the works.
Don’t forget we also have the upcoming spot Ethereum ETFs…
Once the Bitcoin ETFs are approved all eyes will turn towards the 7 spot Ethereum ETF applications.
The final decision deadlines fall between late May 2024 and early August 2024.
Ethereum investors should be feelin’ pretty good right now… 🔒💫
CRACKING CRYPTO 🥜
WHAT WE’RE READING ✍️
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CAN YOU CRACK THIS NUT? ✍️
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Who is the creator of Bitcoin? |
MEME CORNER 😂
Because what would the crypto world be without its share of memes?
Trivia Answer: D) Satoshi Nakamoto 🥳
Satoshi Nakamoto is the name used by the presumed pseudonymous person or persons who developed Bitcoin, authored the bitcoin white paper, and created and deployed bitcoin's original reference implementation
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DISCLAIMER: The content of this newsletter is not financial advice. This newsletter is strictly educational and is not investment advice. Please be careful and do your own research.
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